Charity Registration No. 1145556
THE THOMPSON FAMILY FOUNDATION
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
THE THOMPSON FAMILY FOUNDATION
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Mr Bruce Thompson |
|---|---|
| Mrs Catherine Thompson | |
| Mr James Thompson | |
| Mrs Amy Townsend | |
| Charity number | 1145556 |
| Principal address | HW Fisher Professional Services Limited |
| Acre House | |
| 11-15 William Road | |
| London | |
| NW1 3ER | |
| Independent examiner | Mark Taylor |
| HW Fisher Professional Services Limited | |
| Chartered Accountant | |
| Acre House | |
| 11-15 William Road | |
| London | |
| NW1 3ER | |
| Bankers | Barclays Bank Plc |
| 1 Churchill Place | |
| London | |
| E14 5HP | |
| Investment advisors | Brewin Dolphin Ltd |
| 12 Smithfield Street | |
| London | |
| EC1A 9BD |
THE THOMPSON FAMILY FOUNDATION
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 |
| Independent examiner's report | 2 |
| Statement of financial activities | 3 |
| Balance sheet | 4 |
| Notes to the financial statements | 5 - 9 |
THE THOMPSON FAMILY FOUNDATION
TRUSTEES' REPORT
FOR THE YEAR ENDED 5 APRIL 2024
The trustees present their report and financial statements for the year ended 5 April 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 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 from 1 January 2019).
Objectives and activities
The object of the foundation is for the trustees to apply capital and income to or towards or for the benefit or furtherance of such charitable purposes or charitable institutions according to English law at their absolute discretion. The trustees review grant applications received during the year and make awards as they determine. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
During the year the foundation generated incoming resources of £31,929 (2023: £29,701) through dividends and donation and made grants totaling £15,873 (2023: £30,647). Loss on sale and gain on revaluation of investments amounted to £5,723 and £53,824 respectively (2023: loss of £11,428 and £92,608 respectively).
Financial review
The net assets of the trust at 5 April 2024 amounted to £1,095,133 (2023: £1,037,613) and the net surplus in funds for the year was £57,520 (2023: net deficit of £111,872).
It is the policy of the foundation to maintain unrestricted funds (free reserves), at a level which on investment, generates sufficient income to meet annual expenditure and cover management and administration costs and to respond to emergency applications for grants which arise from time to time. In situations where the income is insufficient to meet the annual expenditure, the reserves are required to make up any shortfall out of capital.
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
The trustees reviewed and accepted grant applications during the year under review. It is the trustees' intention to continue to review grant applications in the future and make donations where they see fit.
Structure, governance and management
The Thompson Family Foundation was registered with the Charity Commission (No. 1145556) on 20 January 2012 and constituted by Deed of Trust dated 23 December 2011.
The trustees who served during the period were: Mr Bruce Thompson Mrs Catherine Thompson Mr Nicholas Acomb (Resigned 8 January 2024) Mr James Thompson Mrs Amy Townsend
The power of appointing new trustees is vested in Mr Bruce Thompson as Settlor under clause 8.1 of the Trust Deed.
The trustees' report was approved by the Board of Trustees.
Bruce M Thompson
..............................
Mr Bruce Thompson
Trustee 28 Jan 2025 Dated: .........................
- 1 -
THE THOMPSON FAMILY FOUNDATION
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE THOMPSON FAMILY FOUNDATION
I report to the trustees on my examination of the financial statements of The Thompson Family Foundation (the charity) for the year ended 5 April 2024.
Responsibilities and basis of report
As the trustees of the Foundation you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the Foundation’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
-
2 the financial statements do not accord with those records; or
-
3 the financial statements 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 financial statements to be reached.
HW Fisher Professional Services Limited
Mark Taylor HW Fisher Professional Services Limited Chartered Accountant Acre House 11-15 William Road London NW1 3ER
28 Jan 2025 Dated: .........................
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THE THOMPSON FAMILY FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 5 APRIL 2024
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2024 | 2023 | ||
| Notes | £ | £ | |
| Income from: | |||
| Donations | 3 | 1,164 | 2,214 |
| Investments | 4 | 30,765 | 27,487 |
| Total income | 31,929 | 29,701 | |
| Expenditure on: | |||
| Raising funds | 5 | 2,619 | 4,499 |
| Charitable activities | 6 | 19,891 | 33,038 |
| Total resources expended | 22,510 | 37,537 | |
| Net gains/(losses) on investments | 11 | 48,101 | (104,036) |
| Net movement in funds | 57,520 | (111,872) | |
| Fund balances at 6 April 2023 | 1,037,613 | 1,149,485 | |
| Fund balances at 5 April 2024 | 1,095,133 | 1,037,613 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
- 3 -
THE THOMPSON FAMILY FOUNDATION
BALANCE SHEET
AS AT 5 APRIL 2024
| Notes Fixed assets Investments 12 Current assets Debtors 13 Cash at bank and in hand Creditors: amounts falling due within one year 14 Net current assets Total assets less current liabilities Income funds Unrestricted funds |
2024 £ 8,090 63,569 71,659 (2,719) |
£ 1,026,193 68,940 1,095,133 1,095,133 1,095,133 |
2023 £ 5,629 52,868 58,497 (2,337) |
£ 981,453 56,160 |
|---|---|---|---|---|
| 1,037,613 | ||||
| 1,037,613 | ||||
| 1,037,613 |
28 Jan 2025
The financial statements were approved by the Trustees on .........................
Bruce M Thompson .............................. Mr Bruce Thompson
Trustee
- 4 -
THE THOMPSON FAMILY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
1 Accounting policies
Charity information
The Thompson Family Foundation is a charity established by trust deed. The registered address is 11-15 William Road, London, NW1 3ER.
1.1 Accounting convention
The financial statements have been prepared in accordance 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 (FRS102)” (effective from 1 January 2019). The the Foundation is a Public Benefit Entity as defined by FRS 102.
The Foundation has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the the Foundation. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of fixed asset investments at fair value. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continues to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
1.4 Incoming resources
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
1.5 Resources expended
Resources expended are recognised in the period to which they relate.
All costs which can be directly attributed to charitable activities are allocated to the relevant activities. 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 settlement will be required and the amount of the obligation can be measured reliably.
Grants payable comprise donations directly related to the objects of the charity. Grants payable are charged in the year when the offer is conveyed to the recipient.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity.
1.6 Fixed asset investments
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
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THE THOMPSON FAMILY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024
1 Accounting policies
(Continued)
1.7 Financial instruments
The Foundation has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
The charity has financial assets and financial liabilities only of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
2 Critical accounting estimates and judgements
In the application of the Foundation’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. There were no critical accounting estimates and judgements in the accounting period.
3 Donations
| Donations and gifts 4 Investments Income from listed investments 5 Raising funds Investment management fees |
2024 £ 1,164 2024 £ 30,765 2024 £ 2,619 2,619 |
2023 £ 2,214 |
|---|---|---|
| 2023 £ 27,487 |
||
| 2023 £ 4,499 |
||
| 4,499 |
- 6 -
THE THOMPSON FAMILY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
6 Charitable activities
| Grant funding of activities (see note 7) Share of governance costs (see note 8) 7 Grants payable Grants to institutions: Alzheimer's Society Crisis DEC- Turkey-Syria Appeal DEC- Ukraine Humanitarian Appeal Epsom Riding for the Disabled Association Oasis Childcare Centre Limited The Pituitary Foundation Shooting Star Children's Hospices 8 Share of governance costs Accountancy fee Legal and professional Independent examiner's fee Analysed between Charitable activities |
2024 £ 15,873 4,018 19,891 2024 £ 3,000 - - - 4,473 2,400 3,000 3,000 15,873 2024 £ - 1,164 2,854 4,018 4,018 |
2023 £ 30,647 2,391 |
|---|---|---|
| 33,038 | ||
| 2023 £ 2,750 4,000 5,000 5,000 5,747 2,400 3,000 2,750 |
||
| 30,647 | ||
| 2023 £ 54 - 2,337 |
||
| 2,391 | ||
| 2,391 |
9 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the current or prior year.
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THE THOMPSON FAMILY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
10 Employees
There were no employees during the current or prior year.
11 Net gains/(losses) on investments
| Revaluation of investments Gain/(loss) on sale of investments |
2024 £ 53,824 (5,723) 48,101 |
2023 £ (92,608) (11,428) (104,036) |
|---|---|---|
12 Fixed asset investments
| Listed investments Cash in portfolio £ £ Cost or valuation At 6 April 2023 936,380 45,073 Additions 91,713 (91,713) Valuation changes 53,824 - Dividend receipts - 30,765 Management fees - (2,619) Cash withdrawal - (31,508) Disposals (84,820) 79,097 At 5 April 2024 997,097 29,096 Carrying amount At 5 April 2024 997,097 29,096 At 5 April 2023 936,380 45,073 13 Debtors 2024 Amounts falling due within one year: £ Other debtors 8,090 |
Total £ 981,453 - 53,824 30,765 (2,619) (31,508) (5,723) 1,026,193 1,026,193 981,453 2023 £ 5,629 |
|---|---|
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THE THOMPSON FAMILY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2024
14 Creditors: amounts falling due within one year
| Creditors: amounts falling due within one year | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Accruals | 2,719 | 2,337 |
15 Related party transactions
Accountancy fees of Nil (2023: £2,214) was paid personally by trustee, Mr Bruce Thompson.
Legal and professional fees of £1,164 (2023: £Nil) was paid personally by trustee, Mr Bruce Thompson.
Apart from this transaction, there were no other disclosable related party transactions during the current year or the preceding financial year.
- 9 -
Issuer
HW Fisher
Document generated Mon, 27th Jan 2025 12:24:20 GMT
Document fingerprint 88ab7653abd8c7e53757a26d6cc0b0eb
Parties involved with this document
Document processed
Party + Fingerprint
Mon, 27th Jan 2025 12:39:29 GMT Mon, 27th Jan 2025 13:21:49 GMT Tue, 28th Jan 2025 8:25:12 GMT Tue, 28th Jan 2025 11:24:41 GMT
Ravi Saroj - Signer (43756a2f2ee1d74243db23bfb3c32ec3) Shafayat Khan - Signer (77a87c04856fbc8fade85fd84d81a25f) Bruce Thompson - Signer (1a2ed5cad862a24823645a92f17f24d2) Mark Taylor - Signer (d4e0652db2ee2eb07ae638c549cd5251)
Audit history log
Date
Action
Mon, 27th Jan 2025 12:24:20 GMT Mon, 27th Jan 2025 12:24:20 GMT Mon, 27th Jan 2025 12:24:20 GMT
Mon, 27th Jan 2025 12:38:17 GMT
Mon, 27th Jan 2025 12:38:17 GMT Mon, 27th Jan 2025 12:38:51 GMT Mon, 27th Jan 2025 12:39:00 GMT Mon, 27th Jan 2025 12:39:30 GMT Mon, 27th Jan 2025 12:39:30 GMT
Mon, 27th Jan 2025 12:39:30 GMT Mon, 27th Jan 2025 12:39:30 GMT Mon, 27th Jan 2025 13:21:35 GMT Mon, 27th Jan 2025 13:21:44 GMT Mon, 27th Jan 2025 13:21:50 GMT Mon, 27th Jan 2025 13:21:50 GMT
Envelope generated by Ravi Saroj89.150.28.98 Document generated with fingerprint 32b982c5e4a735b6c9906f0cfd7f27c889.150.28.98 Document generated with fingerprint 88ab7653abd8c7e53757a26d6cc0b0eb89.150.28.98 Sent the envelope to Ravi Saroj (rsaroj@hwfisher.co.uk) for signing89.150.28.98 Document emailed to rsaroj@hwfisher.co.uk35.179.184.55 Ravi Saroj viewed the envelope89.150.28.98 Ravi Saroj viewed the envelope20.68.35.212 Ravi Saroj signed the envelope89.150.28.98 Sent the envelope to Shafayat Khan (shkhan@hwfisher.co.uk) for signing89.150.28.98 Document emailed to shkhan@hwfisher.co.uk3.10.208.42 Ravi Saroj viewed the envelope89.150.28.98 Shafayat Khan viewed the envelope89.150.28.98 Shafayat Khan viewed the envelope20.68.35.212 Shafayat Khan signed the envelope89.150.28.98 Sent the envelope to Bruce Thompson
(bruce.thompson77@btinternet.com) for signing89.150.28.98
Mon, 27th Jan 2025 13:21:50 GMT Mon, 27th Jan 2025 13:21:50 GMT Mon, 27th Jan 2025 17:12:15 GMT Mon, 27th Jan 2025 18:40:52 GMT Mon, 27th Jan 2025 18:40:55 GMT Mon, 27th Jan 2025 18:40:56 GMT Mon, 27th Jan 2025 18:41:00 GMT Tue, 28th Jan 2025 8:23:47 GMT Tue, 28th Jan 2025 8:23:53 GMT Tue, 28th Jan 2025 8:25:12 GMT Tue, 28th Jan 2025 8:25:13 GMT
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Document emailed to bruce.thompson77@btinternet.com18.175.209.6 Shafayat Khan viewed the envelope89.150.28.98 Bruce Thompson opened the document email.172.226.183.11 Bruce Thompson opened the document email.86.175.243.14 Bruce Thompson opened the document email.86.175.243.14 Bruce Thompson opened the document email.86.175.243.14 Bruce Thompson opened the document email.86.175.243.14 Bruce Thompson opened the document email.86.175.243.14 Bruce Thompson viewed the envelope86.175.243.14 Bruce Thompson signed the envelope86.175.243.14 Sent the envelope to Mark Taylor (mjtaylor@hwfisher.co.uk) for signing86.175.243.14
Document emailed to mjtaylor@hwfisher.co.uk18.170.28.230 Bruce Thompson viewed the envelope86.175.243.14 Bruce Thompson opened the document email.86.175.243.14 Bruce Thompson opened the document email.86.175.243.14 Bruce Thompson opened the document email.86.175.243.14 Mark Taylor viewed the envelope89.150.28.98 Mark Taylor viewed the envelope20.254.225.254 Mark Taylor signed the envelope185.105.75.178 This envelope has been signed by all parties185.105.75.178 Mark Taylor viewed the envelope185.105.75.178