REGISTERED CHARITY NUMBER: 1136375
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
FOR
The Richard Thomas Foundation
MHR Consultancy Limited Ferneberga House Alexandra Road Farnborough GU14 6DQ
The Richard Thomas Foundation
CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 December 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Statement of Financial Position | 6 | ||
| Notes to the Financial Statements | 7 | to | 13 |
The Richard Thomas Foundation
REPORT OF THE TRUSTEES
for the Year Ended 31 December 2023
The trustees present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of 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).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The charity's objectives as set out in its governing document are to foster and promote the advancement and improvement of general education in all aspects of contemporary art and the development of public appreciation of such art, in particular but not exclusively by enabling performances of new contemporary art to be brought to a wider public. Funding for the charity is secured through individual donors, trusts and fund-raising events.
ACHIEVEMENT AND PERFORMANCE Charitable activities PERFORMANCES
Performances during the year promoted, supported, or including works commissioned by the charity, included:
APRIL
Alex Groves - world premiere at Stone Nest, London, of Layer upon Layer upon Layer, a long form spatial sound composition (RTF057).
Robert Curgenven - world premiere at Stone Nest, London, of Unstable Steady States, a long form spatial sound composition (RTF046).
MAY
Nicole Raymond - world premiere at Stone Nest, London, of Eternities, a long form spatial sound composition (RTF059).
Kali Malone - world premiere at Stone Nest, London, of Carved Windswept in Stone, the second part of her organ based commission (RTF040).
Anton Baibakov - the charity supported "In Search of Silence", a spatial composition and film by this Ukrainian composer (RTF061).
AUGUST
Nathan James Dearden - world premiere at the Aberystwyth International Festival of his song cycle for Soprano, Tenor and Piano performed by Lucy Crowe, Nicky Spence and Andrew Matthews-Owen (RTF056).
NOVEMBER
Claire M Singer - world premiere at Het Orgelpark, Amsterdam, of Saor, a long form composition for four organs. The concert also marked the release of the recording on Touch (RTF042).
Laurence Crane - a repeat performance of our first commission from 2011 at Het Muziekgebouw, Amsterdam, of Quintet, performed by Ives Ensemble (RTF001).
The charity supported curator and performer Sasha Elina's installation Music Space Architecture at St.James' Church NW1, London (RTF063).
DECEMBER
Echo Collective presented a repeat performance of their commission Mirror Image for violin, harp and piano at the STUK festival in Leuven, Belgium (RTF053).
Echo Collective played Jóhann Jóhannsson's 12 Conversations with Thilo Heinzmann at Mechelen, Belgium (RTF008).
Page 1
The Richard Thomas Foundation
for the Year Ended 31 December 2023
REPORT OF THE TRUSTEES
WORK IN PROGRESS
The charity continues to work on projects including:
RTF042 Claire M Singer is creating an electronic response to her organ commission Saor for performance in 2025.
RTF046 Robert Curgenven is composing a piece for organ to be performed at Het Orgelpark, Amsterdam, in 2025.
RTF048 Joseph Phibbs is composing his String Quartet No.4 due to be premiered by the Piatti Quartet at the Presteigne Festival in August 2024.
New projects include:
RTF050 Richard Rijnvos is composing a piece for harpsichord to be recorded and performed by Mahan Esfahani in 2025
RTF058 Violinist and composer Rakhi Singh is creating a performance based on Bach's Chaconne.
RTF062 Composer Marijn Cinjee and soprano Julia Sinclair are creating an album based on songs by Hildegard of Bingen and electronics, due to premiere at Het Concertgebouw, Amsterdam in December 2024.
RECORDINGS
The Foundation is the sole shareholder of a trading subsidiary, Junk Ibu Limited (JIL), whose activities are to make, release and distribute recordings (on vinyl, CD and digital) and to own the master recordings. JIL is funded through grants, loans from the charity, and sales of recordings.
Continuing planned and confirmed activities include:
IBU15 Paris 1913 - A CD of French songs composed in 1913-14 by Debussy, Fauré etc, sung by Claire Booth accompanied by pianist Andrew Matthews-Owen. Recording is for release on CD through Nimbus in 2025.
IBU16 Piatti Quartet - a CD of three string quartets by Joseph Phibbs. Recording is in progress and release likely in autumn 2024.
IBU17 Richard Rijnvos keyboard compositions - we have recorded one piece with Dutch organist Jan Hage and will record a harpsichord piece during 2025.
IBU18 A recording based on songs by Hildegard of Bingen and electronics, to be released in December 2024.
IBU19 Nicole Raymond (NikNak) - a release of her commission Eternities will be released in 2024 through the label 33-33
IBU20 Piatti Quartet - a CD of string quartets by Rachmaninov and Franck. Recording is in progress and release likely in 2025.
The Foundation made grants to JIL totalling £10,000 during the year. JIL's total expenditure during the year was £11,013 and income from sale of recordings was £1,606.
FUNDRAISING ACTIVITIES
Trustees are grateful to a number of individuals and foundations for making restricted donations supporting the recording and concert programme during the year.
FINANCIAL REVIEW
Financial position
The main sources of funding have been donations from foundations, from individuals and related gift aid reclaims. Of the £49,662 total receipts in 2023:
71% (£35,022) was unrestricted; 29% (£14,640) was restricted funds in respect of specific grants;
Of the £60,663 expenditure in 2022:
86% (£51,892) was spent on grant making; 6% (£3,700) was spent on performances, musician fees, etc.; 8% (£5,071) was spent on the charity's operating expenses
Investment policy and objectives
The funds are managed under a socially responsible investment strategy.
Page 2
The Richard Thomas Foundation
for the Year Ended 31 December 2023
REPORT OF THE TRUSTEES
FINANCIAL REVIEW
Reserves policy
The Trustees have adopted a reserves policy which they consider appropriate to the size of the charity. It is the charity's policy to maintain a balance on unrestricted funds to cover future running costs. Grants are only payable once funding has been secured.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust dated 14 December 2009 and amended 2 May 2010, and constitutes an unincorporated charity.
Recruitment and appointment of new trustees
The charity must have a minimum of three trustees. Every trustee must be appointed for a term of three years by a resolution of the trustees passed at a special meeting. Trustees may be reappointed. In selecting individuals for appointment as trustees, the trustees must have regard to the skills, knowledge and experiences needed for the effective administration of the charity.
Organisational structure
The trustees, on a volunteer basis, deal with all day-to-day activities of the charity. Given the small size of the charity, the charity has limited resources to employ staff.
Induction and training of new trustees
The current trustees are all familiar with, and closely involved in the work of the charity. They were all provided with copies of the Charity Commission's booklet "The Essential Trustee", a copy of the Trust Deed and any amendments made to it and a copy of the charity's latest report and accounts.
Related parties
The charity has a 100% share holdings in a subsidiary company- Junk IBU Limited and further details can be found in note 4. There have been no significant related party transactions between the charity and any of its trustees during the year. All other related party transactions are detailed in note 7 of the financial statements.
Governance
In October a new Trustee, Nick Archer, was appointed to the Board. Nick has an extensive background in public and voluntary service, and lifelong engagement with music.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1136375
Principal address
Flat 32, The Pryors East Heath Road LONDON NW3 1BS
Trustees
C R V Thomas Ms H E Webb J E McGrath N S Archer (appointed 15.10.23)
Independent Examiner
Mark Blackwell on behalf of MHR Consultancy Ltd MHR Consultancy Limited Ferneberga House Alexandra Road Farnborough GU14 6DQ
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
...................................................................................... C R V Thomas - Trustee
Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE RICHARD THOMAS FOUNDATION
Independent examiner's report to the trustees of The Richard Thomas Foundation
I report to the charity trustees on my examination of the accounts of The Richard Thomas Foundation (the Trust) for the year ended 31 December 2023.
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 ('the Act').
I report in respect of my examination of the Trust's accounts 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 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 were not kept in respect of the Trust 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 true 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 examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Mark Blackwell on behalf of MHR Consultancy Ltd
MHR Consultancy Limited Ferneberga House Alexandra Road Farnborough GU14 6DQ
Date: .............................................
Page 4
The Richard Thomas Foundation
STATEMENT OF FINANCIAL ACTIVITIES
for the Year Ended 31 December 2023
| 31.12.23 | 31.12.22 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||
| fund | funds | funds | funds | |||
| Notes | £ | £ | £ | £ | ||
| INCOME AND ENDOWMENTS FROM | ||||||
| Donations and legacies | 35,022 | 14,571 | 49,593 | 6,183 | ||
| Investment income | 2 | - | 69 | 69 | 14 | |
| Total | 35,022 | 14,640 | 49,662 | 6,197 | ||
| EXPENDITURE ON | ||||||
| Charitable activities | 3 | |||||
| Charitable Activities | 8,176 | - | 8,176 | 2,654 | ||
| New Movement Collective | 1,000 | - | 1,000 | - | ||
| Sundry Small Grants | 2,904 | - | 2,904 | - | ||
| Claire M Singer | 2,407 | 3,383 | 5,790 | 770 | ||
| Gavin Higgins | - | - | - | 138 | ||
| Kali Malone | 9,520 | - | 9,520 | 5,325 | ||
| Paris 365 | - | - | - | 5,750 | ||
| Espaco Agora | - | - | - | 1,100 | ||
| Oren Abmarchi | 2,043 | - | 2,043 | 791 | ||
| Casimir Geelhoed | - | - | - | 436 | ||
| Alex Groves | - | - | - | 1,750 | ||
| Junk IBU Ltd | - | 10,000 | 10,000 | - | ||
| Nathan Dearden | - | 2,000 | 2,000 | - | ||
| Nicole Raymond | 5,943 | - | 5,943 | - | ||
| Stone Nest | 1,365 | - | 1,365 | - | ||
| Hildegard | 2,344 | - | 2,344 | - | ||
| Christ Chuch Hampstead | 1,000 | - | 1,000 | - | ||
| Robert Curgenven | 48 | 4,670 | 4,718 | - | ||
| Richard Rijnvos | 2,250 | - | 2,250 | - | ||
| Anton Baibakov | 1,610 | - | 1,610 | - | ||
| Other | - | - | - | 3,523 | ||
| Total | 40,610 | 20,053 | 60,663 | 22,237 | ||
| Net gains/(losses) on investments | - | - | - | (9,693) | ||
| NET INCOME/(EXPENDITURE) | (5,588) | (5,413) | (11,001) | (25,733) | ||
| RECONCILIATION OF FUNDS | ||||||
| Total funds brought forward | 122,526 | (890) | 121,636 | 147,370 | ||
| TOTAL FUNDS CARRIED FORWARD | 116,938 | (6,303) | 110,635 | 121,637 |
The notes form part of these financial statements
Page 5
The Richard Thomas Foundation
STATEMENT OF FINANCIAL POSITION
31 December 2023
| 31.12.23 | 31.12.22 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| fund | funds | funds | funds | ||
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Investments | 8 | 89,447 | (9,693) | 79,754 | 91,754 |
| CURRENT ASSETS | |||||
| Debtors | 9 | 18,452 | 7,000 | 25,452 | 25,452 |
| Cash at bank | 9,039 | 4,828 | 13,867 | 4,431 | |
| 27,491 | 11,828 | 39,319 | 29,883 | ||
| CREDITORS | |||||
| Amounts falling due within one year | 10 | - | (8,438) | (8,438) | - |
| NET CURRENT ASSETS/(LIABILITIES) | 27,491 | 3,390 | 30,881 | 29,883 | |
| TOTAL ASSETS LESS CURRENT LIABILITIES | 116,938 | (6,303) | 110,635 | 121,637 | |
| NET ASSETS | 116,938 | (6,303) | 110,635 | 121,637 | |
| FUNDS | 12 | ||||
| Unrestricted funds | 116,938 | 122,526 | |||
| Restricted funds | (6,303) | (889) | |||
| TOTAL FUNDS | 110,635 | 121,637 |
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. C R V Thomas - Trustee
............................................. H E Webb - Trustee
The notes form part of these financial statements
Page 6
The Richard Thomas Foundation
NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 December 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial 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 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)', 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 cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
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 and 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 to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with 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.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the 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.
2.
INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 31.12.23 | 31.12.22 | |
| £ | £ | |
| Deposit account interest | - | 14 |
| Investment Income | 69 | - |
| 69 | 14 |
continued...
Page 7
The Richard Thomas Foundation
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2023
3. CHARITABLE ACTIVITIES COSTS
| Charitable Activities New Movement Collective Sundry Small Grants Claire M Singer Kali Malone Oren Abmarchi Junk IBU Ltd Nathan Dearden Nicole Raymond Stone Nest Hildegard Christ Chuch Hampstead Robert Curgenven Richard Rijnvos Anton Baibakov 4. GRANTS PAYABLE Charitable Activities New Movement Collective Sundry Small Grants Claire M Singer Gavin Higgins Kali Malone Paris 365 Espaco Agora Oren Abmarchi Casimir Geelhoed Alex Groves Junk IBU Ltd Nathan Dearden Nicole Raymond Stone Nest Hildegard Christ Chuch Hampstead Robert Curgenven Richard Rijnvos Anton Baibakov |
Grant funding of activities Support Direct (see note costs (see Costs 4) note 5) Totals £ £ £ £ 3,700 (595) 5,071 8,176 - 1,000 - 1,000 - 2,904 - 2,904 - 5,790 - 5,790 - 9,520 - 9,520 - 2,043 - 2,043 - 10,000 - 10,000 - 2,000 - 2,000 - 5,943 - 5,943 - 1,365 - 1,365 - 2,344 - 2,344 - 1,000 - 1,000 - 4,718 - 4,718 - 2,250 - 2,250 - 1,610 - 1,610 3,700 51,892 5,071 60,663 31.12.23 31.12.22 £ £ (595) - 1,000 - 2,904 - 5,790 770 - 138 9,520 5,325 - 5,750 - 1,100 2,043 791 - 436 - 1,750 10,000 - 2,000 - 5,943 - 1,365 - 2,344 - 1,000 - 4,718 - 2,250 - 1,610 - 51,892 16,060 |
Grant funding of activities Support Direct (see note costs (see Costs 4) note 5) Totals £ £ £ £ 3,700 (595) 5,071 8,176 - 1,000 - 1,000 - 2,904 - 2,904 - 5,790 - 5,790 - 9,520 - 9,520 - 2,043 - 2,043 - 10,000 - 10,000 - 2,000 - 2,000 - 5,943 - 5,943 - 1,365 - 1,365 - 2,344 - 2,344 - 1,000 - 1,000 - 4,718 - 4,718 - 2,250 - 2,250 - 1,610 - 1,610 3,700 51,892 5,071 60,663 31.12.23 31.12.22 £ £ (595) - 1,000 - 2,904 - 5,790 770 - 138 9,520 5,325 - 5,750 - 1,100 2,043 791 - 436 - 1,750 10,000 - 2,000 - 5,943 - 1,365 - 2,344 - 1,000 - 4,718 - 2,250 - 1,610 - 51,892 16,060 |
|---|---|---|
| 16,060 |
continued...
Page 8
The Richard Thomas Foundation
NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023
5. SUPPORT COSTS
| SUPPORT COSTS | |||||
|---|---|---|---|---|---|
| Information | Governance | ||||
| Management | technology | Other | costs | Totals | |
| £ | £ | £ | £ | £ | |
| Charitable Activities | 8 | 2,149 | 2,464 | 450 | 5,071 |
| Support costs, included in the above, are as follows: | |||||
| 31.12.23 | 31.12.22 | ||||
| Charitable | Total | ||||
| Activities | activities | ||||
| £ | £ | ||||
| Postage and stationery | 8 | 5 | |||
| Sundries | 632 | 191 | |||
| Website and Computer Costs | 1,517 | 2,877 | |||
| Travel | 2,464 | - | |||
| Independent Examiner | 450 | 450 | |||
| 5,071 | 3,523 |
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.
7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted Restricted fund funds £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 2,583 3,600 Investment income 14 - Total 2,597 3,600 EXPENDITURE ON Charitable activities Charitable Activities 2,654 - Claire M Singer 770 - Gavin Higgins 138 - Kali Malone 5,325 - Paris 365 - 5,750 Espaco Agora - 1,100 Oren Abmarchi 791 - Casimir Geelhoed 436 - Alex Groves 1,750 - Other 3,523 - Total 15,387 6,850 Net gains/(losses) on investments - (9,693) NET INCOME/(EXPENDITURE) (12,790) (12,943) RECONCILIATION OF FUNDS Total funds brought forward 135,316 12,054 |
Total funds £ 6,183 14 6,197 2,654 770 138 5,325 5,750 1,100 791 436 1,750 3,523 22,237 (9,693) (25,733) 147,370 |
|---|---|
continued...
Page 9
The Richard Thomas Foundation
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2023
| 7. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | |||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | |||||
| fund | funds | funds | |||||
| £ | £ | £ | |||||
| TOTAL FUNDS CARRIED FORWARD | 122,526 | (889) | 121,637 | ||||
| 8. | FIXED ASSET INVESTMENTS | ||||||
| Shares in | |||||||
| group | Unlisted | ||||||
| undertakings | investments | Totals | |||||
| £ | £ | £ | |||||
| MARKET VALUE | |||||||
| At 1 January 2023 | 100 | 91,654 | 91,754 | ||||
| Disposals | - | (12,000) | (12,000) | ||||
| At 31 December 2023 | 100 | 79,654 | 79,754 | ||||
| NET BOOK VALUE | |||||||
| At 31 December 2023 | 100 | 79,654 | 79,754 | ||||
| At 31 December 2022 | 100 | 91,654 | 91,754 | ||||
| There were no investment assets outside the UK. | |||||||
| 9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||
| 31.12.23 | 31.12.22 | ||||||
| £ | £ | ||||||
| Amounts owed by Group Company | 20,900 | 20,900 | |||||
| Prepayments | 4,552 | 4,552 | |||||
| 25,452 | 25,452 | ||||||
| 10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||
| 31.12.23 | 31.12.22 | ||||||
| £ | £ | ||||||
| Bank loans and overdrafts (see note 11) | 8,438 | - | |||||
| 11. | LOANS | ||||||
| An analysis of the maturity of loans is given below: | |||||||
| 31.12.23 | 31.12.22 | ||||||
| £ | £ | ||||||
| Amounts falling due within one year on demand: | |||||||
| Bank overdrafts | 8,438 | - |
continued...
Page 10
The Richard Thomas Foundation
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2023
12. MOVEMENT IN FUNDS
| Unrestricted funds General fund Restricted funds General Restricted C M Singer N Dearden Paris 365 Robert Curgenven TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds General Restricted C M Singer N Dearden J Phibbs Paris 365 Robert Curgenven TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund Restricted funds General Restricted TOTAL FUNDS |
Net movement At At 1.1.23 in funds 31.12.23 £ £ £ 122,526 (5,588) 116,938 (890) 2,525 1,635 - (3,220) (3,220) - (500) (500) - 500 500 - (4,718) (4,718) (890) (5,413) (6,303) 121,636 (11,001) 110,635 Incoming Resources Movement resources expended in funds £ £ £ 35,022 (40,610) (5,588) 70 2,455 2,525 2,570 (5,790) (3,220) 1,500 (2,000) (500) 10,000 (10,000) - 500 - 500 - (4,718) (4,718) 14,640 (20,053) (5,413) 49,662 (60,663) (11,001) Net movement At At 1.1.22 in funds 31.12.22 £ £ £ 135,316 (12,790) 122,526 12,054 (12,943) (889) 147,370 (25,733) 121,637 |
|---|---|
continued...
Page 11
The Richard Thomas Foundation
NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023
12. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Gains and | Movement | |
|---|---|---|---|---|
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 2,597 | (15,387) | - | (12,790) |
| Restricted funds | ||||
| General Restricted | 3,600 | (6,850) | (9,693) | (12,943) |
| TOTAL FUNDS | 6,197 | (22,237) | (9,693) | (25,733) |
| A current year 12 months and prior year 12 months combined position is as follows: | ||||
| Net | ||||
| movement | At | |||
| At 1.1.22 | in funds | 31.12.23 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 135,316 | (18,378) | 116,938 | |
| Restricted funds | ||||
| General Restricted | 12,054 | (10,418) | 1,636 | |
| C M Singer | - | (3,220) | (3,220) | |
| N Dearden | ||||
| - | (500) | (500) | ||
| Paris 365 | - | 500 | 500 | |
| Robert Curgenven | ||||
| - | (4,718) | (4,718) | ||
| 12,054 | (18,356) | (6,302) | ||
| TOTAL FUNDS | 147,370 | (36,734) | 110,636 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Gains and | Movement | |
|---|---|---|---|---|
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 37,619 | (55,997) | - | (18,378) |
| Restricted funds | ||||
| General Restricted | 3,670 | (4,395) | (9,693) | (10,418) |
| C M Singer | 2,570 | (5,790) | - | (3,220) |
| N Dearden | ||||
| 1,500 | (2,000) | - | (500) | |
| J Phibbs | 10,000 | (10,000) | - | - |
| Paris 365 | 500 | - | - | 500 |
| Robert Curgenven | ||||
| - | (4,718) | - | (4,718) | |
| 18,240 | (26,903) | (9,693) | (18,356) | |
| TOTAL FUNDS | 55,859 | (82,900) | (9,693) | (36,734) |
continued...
Page 12
The Richard Thomas Foundation
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2023
13. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2023.
Page 13