Reglstered number.. 09396110 Charlty number: 1161391 THATCHERS FOUNDATION (A COMPANY LIMITED BY GUARANTEE) UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023 ishop Fleming THATCHERS FOUNDATION IA COMPANY LIMITED 8Y GUARANTEEI CONTENTS Page Reference and Admlnlstratlve Detalls of the Company. Its Trustees and Advlsers Trustees. Report Independent Examinerfs Report Statement of Financial Activities Balance Sheet Notss to The Financial Ststements 7-10 The following pages do not form part of the stalulory financial statements.. Charlty Detailed Income and Expendlture Account and Summaries THATCHERS FOUNDATION IA COMPANY LIMITED BY GUARANTEEI REFERENCE AND ADMINISTIi4TIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 JANUARY 2023 Trustse5 M Thatcher A Thatcher P Smf(h M Williamson A Farron K Coxhead Company regÈstergd number 09396110 Charity registered number 1161391 Registered offl¢e Myrtle Farm Slalion Road Sandford Winscombe Avon BS25 5RA Independent Examlner Bishop Fleming LLP Chartered Accountants 10 Temple Back Bristol BS16FL Page 1 THATCHERS FOUNDATION IA COMPANY LIMITED BY GUARANTEEI TRUSTEES. REPORT FOR THE YEAR ENDED 31 JANUARY 2023 The Trustees present their annual report together with the financial statements of the company for the 1 February 2022 to 31 January 2023. The Annual Report serves the purposes of both a Trustees. report and a dire¢lors' report under company law. The Trustees confirm that the Annual Report and financial slalemenls of the charitable company comply with the current stslulory requirements, the requirements of the charitable company's governing document and the provisions of the Slalemenl of Recommended Practi￿ ISORPI applicable to charities preparing their accounts in accordan￿ with the Financial Reporting Slondard applicable in the UK and Republic of Ireland IFRS1021 {effeclive 1 January 20191. Since the Company qualifies as small under secb'on 382 of the Companies Act 2006. the Strategic Report reqUI￿d of medium and large companies under the Companies Ad 20(￿ {Stralegic Report and Directors, Report} Regulations 2013 has been omitted. Objectives and actlvltlos Policies and objectives The charity is estsblished for charitsble purposes for the benefrt of the general public, in particular those living or working in Somersel, who are in need by reason of linancial hardship. sicknes5, disability or other disadvantage or distress. Activitles undertaken to achieve objectives The charity makes grants to both individuals and organisalions w¢thin the ¢ommunily. Main a¢tivltie$ undertaken to further the Company's purpo$e$ for the public benefit The main charitable acliwty undertaken is fvndralsing through local businesses and individuals. The Trustees have had due regard to the public benefit guidan￿ published by the Chafilies Commission. Achievernents and perfonnance Key perfomiance Sndlcators The Key Financial Performance Indicators are the amount of donations received and the amount ofcash in hand at the year end. Revlew of a¢tivltie$ Donations feceived in the year were £77,573 and the amount of cash held al the year end was £10.934. The Trustees are satisfied with tho performance in the year. Donations to local causè5 decreased lo £75.984. The Trustees are satisfied that the charity continues lo meet rts policies and objectives. Going ¢oncem After making appropriate enquiries. the Trustees have a reasonable expeclallon that th& Company has adequate resources to continue in operational existence for the foreseeable future. The Trustees do not anticipate COVID- 19 to have a material impact on its ability to 9enerale funds, deliver on its programmes or to deliver on ils policies and objectives. For this reason, they continue lo adopt the going concern basis in preparing the financial statements. P8ge 2 THATCHERS FOUNDATION IA COMPANY LIMITED BY GUARANTEEI TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDEO 31 JANUARY 2023 Resetves pollcy The Trustee5 coniinue lo focus on raising frjnds in order to mainlan its chariiable work in the communily. As Such the current policy is lo build and maintain sufficient rtrs&Tves to mainiain this programme. Structure. governance and management Constltutlon Thatch8rs Foundatitrn is registerèd as a ¢harilable company limited by guarante¢ and was sel up by a Mernorandum ol Associ81ion on 19th January 2015. The company is consliluied under a Memorandurn of Association dated 19 January 2015 8nd 1$ a registered charity number 1161391. The principal object of the company is to provide benefit to Ihe general public, particularly those living orworking within Somerset, who are in need. Metho(ts of &ppointment or election of Trustees The management of the Coryany is the ￿SPonSIbl11ty of the Trustèes who are etecled and COthOPted under the terms ¢1 th8 Memorarldum ol Assotsatim. Organlsat5onal strueturts and deelslon-makiFFg polTreles Trustees meet when ￿qUired, but al least annually to address operational and governan￿ matters. The company plans lo increase lunding aciivities to further charitable activities. Approved by orderof the Them￿[S of board ol Trustees and signed on their behalf by.. Thatcher Trustee Dale.. 9th Auyust 2023 Page 3 THATCHERS FOUNDATION IA COMPANY LIMITED BY GUARANTEE) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 JANUARY 2023 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THATCHERS FOUNDATION I'the Company'l report lo the charty Twslees on my examination of the accounts of the Company for the ygar ended 31 January 2023. RESPONSIBILITIES AND BASIS OF REPORT As the Trustees of the Company land ils directors for the purposes of company law) you are responsible for the preparation ofthe accounts in accordance with the requirements of the Companies Act 20061'lhe 2006 Acl'l. Having satisfied myself that the accoun15 of the Company are nÉ>l required lo b& audil¢d under Part 16 of the 2006 Acl and are eligible for independent examination. I report Iri respect of my examination of the Companls 8c¢ounts carried out under section 145 of the Charities Act 2011 I'lhe 2011 Ad'l. In carrying out my examination I have followed the Directions given by the Charity Commission under section 14515){bl of the 2011 Act. INDEPENDENT EXAMINER'S STATEMENT I have c¢Nnpleted my examination. I confimi that no mallers have come to my attention in eonnedKJn with the examination giwng me cause to believe-. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act". or the accounts do not accord with those records,. or the a¢¢ounls do not Comply wlh the accounting requirements of section 396 of the 2006 Act other than any ￿qU1￿ment that the accour>ts give a Irue and fairf view which is not a matter considered as part of an independent examination., or the a¢eounts have not been prePa￿d in accordan￿ with the methods and prineiples of the Statement of Recommended Pracliee for accounting and reporting by char(ties. I have no concerns and have come across no other matters in connection with the examination to wh￿h allenlion should be drawn in this report in order to enable a proper understanding of the accounts lo be reached. This report is made solely to the Company's Trustees, as a body, in accordan￿ with Part 4 of the Charities {Accounls and Reports) Regulations 2008. My work ha5 been undertaken so that I might stale to the Compan¢s Trustees those mallers l am required lo slate lo them in an Independent Examinerfs Report and for no other purpose. To the fullest extent pefmitted by law, I do not accept or assume responsibility lo anyone other than the Company and the Company's Trustees as a body, for my work or for this report. Signed.. Damd BLrtler FCA DChA Dated.. 23 August 2023 Bishop Fleming LLP 10 Temple Back Bristol BS16FL Page 4 THATCHERS FOUNDATION {A COMPANY LIMITED BY GUARANTEEI STATEME￿ OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDfTURE ACCOUNTI FOR THE YEAR ENDED 31 JANUARY 2023 Unrestricted funds 2023 Total funds 2023 Total funds 2022 Note Income from.. Donations and legacies 77.573 77,573 75,900 Total Income 77,573 77.S73 75,900 Expenditurè on,. Charitable activitie5 76,563 76.563 81,908 Total expenditure 76.563 76.563 81.908 Net movement In funds 1,010 1,010 {6,0081 Re¢on¢iliation of funds: Total funds brought forward 9.924 9,924 15,932 Total funds carrled forward 10,934 10.934 9,924 The notes on pages 7 to 10 fomi part of these financial statements. Page S THATCHERS FOUNDATION IA COMPANY LIMITED BY GUARANTEEI REGISTERED NUMBER.'09396110 BALANCE SHEET AS AT 31 JANUARY 2023 2023 2022 Note Current #ssets Cash at bank and in hand 10.934 9,924 10.934 9,924 N8t current assets 10,934 9,924 Total net a6sels 10,934 9.924 Charity funds Resliicled funds Unrestrictsd ftjnds 10,934 9,924 Total funds 10,934 9.924 The Company was enlitjed lo exemption from audit under section 477 ofthe Cornpanies Act 2006. The rnembers have not requir9d the company to obtain an audit for the year in question in accordance with secb'on 476 of Companies Act 2006. The Trustees acknowledge their responsibilibe5 for complying with the requFrements ol the Act wlh respect to accounting records and preparation of financial stslements. The financial Statements have been prepared in accordan¢e with the Provisions applicable to entities subject lo the small companies regime. The financial statements were apprvved and aulhonsed lor Issue by Ihe I rustees and signed on Lheir behalf by.. M Thatcher TnJ51ee Date.. 9th Avgust 2023 The notes pages 7 to 10 lorm part of these financial statements. Pago 6 THATCHERS FOUNDATION IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023 GENERAL INFORMATION Thalcheis Foundation is 8 charity registered in England and Wales and a company limited by guarantee. Ils registered address is Myrtle Fam Slalion Road, Sandford, Winscombe, England, BS25 5RA. 11 was incorporated on 20 January 2015 lcompany number 09396110} and registered a5 a charity on 20 January 2015 Icharily number 11613911. ACCOUNTING POLICIES 2.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS The financial slalements have been p￿pared in accordance with the Charities SORP IFRS 1021 A¢counting and Reporting by Charities.. Slalement of Recommended Practice applicable to charities preparing their accounts in accordance wlh the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 2019). the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companles Act 2006. Thatchers Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilib'es are initially recognised at historical cost or Iransa¢tion value unless otherwise stated in the relevant ac¢ounling policy. 2.2 COMPANY STATUS The company 15 company lirniled by guarantee. The members of the c¢mpany are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited lo £10 per member of the company. 2.3 GOING CONCERN After making appropriate enquiries, the Trustees have a reasonable expectation that the compariy has adequate resources lo continue in operational existence for the foreseeable future. The Trustees do not anlicipale COVID-19 to have a material impad on its ability to generate funds. deliver on ils programmes or lo deliver on ils policies and object¢ves. For this reason. they continue lo adopt the going concern basis in preparing the financial slalgments. 2.4 INCOME Atl income is recognised once the Company has entiilemenl to the income. il is probable that the income will be received and the amount of income receivable can be measured reliably. 2.5 EXPENDITURE Expenditure is Tecognised once there is a legal or conslTUCtive obligation to transfer eoonomie benefit lo a third party, it is probable that a transfer of economic benefits will be reqUI￿d in selllemenl and Ihe amount of the obligation can be measured reliably. Expenditure is classified by 8¢1ivily. The costs of each activity are made up of the total of direct costs and shared costs. including support costs involved in undertaking each 8clivity. D1￿ct costs attributable to 8 single activity are allocated direclty to that aclivily. Shared cost5 which contribute lo more than one activity anrJ support costs which are not attributable lo a single activity ale 8PPOrtioned be￿een those aetivilies on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs. Page 7 THATCHERS FOUNDATION IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023 ACCOUNTING POLICIES Icontinuedl 2.5 EXPENDITURE ICONTINUEDI All expenditure is inclusive of irrecoverable VAT. 2.6 CASH AT BANK AND IN HANO Cash al bank 8nd in hand includes cash and short.temi highly liquid investments w¢lh a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 2.7 FUND ACCOUNTING General funds are unrestri¢ted lunds which are available for use at the discretion of the Trvslees in furtherance of the general objectives of the Company and which have not been designated for other purposes. INCOME FROM DONATIONS AND LEGACIES Unrestricted funds 2023 Total funds 2023 Total funds 2022 Donations 77,573 77,573 75,900 ANALYSIS OF EXPENDITURE BY ACTIVITIES ActEvlties undertaken directly 2023 Support costs 2023 Total funds 2023 Total funds 2022 Grants payable 75,984 579 76,563 81,908 TOTAL 2022 81,890 18 81,908 ANALYSIS OF DIRECT COSTS Total funds 2023 Totsl funds 2022 Activities 2023 Grants payable 75,984 75.984 81,890 Page 8 THATCHERS FOUNDATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023 ANALYSIS OF EXPENDITURE BY ACTIVITIES {CONTINUEDI ANALYSIS OF SUPPORT COSTS Total funds 2023 Totsl funds 2022 Activities 2023 Bank charges Insurance 20 559 20 559 18 579 579 18 TRUSTEES. REMUNERATION AND EXPENSES During the year, no TTUStees receNed any remuneration or other benefils12022 - £NILI. During the year ended 31 January 2023. no Trustee expenses have begn incurred12022 - £NIL}. STATEMENT OF FUNDS STATEMENT OF FUNDS- CURRENT YEAR Balance at 1 February 2022 Balance at 31 January 2023 Income Expenditure UNRESTRICTED FUNDS General Funds 9,924 77,573 176.5631 10,934 STATEMENT OF FUNDS- PRIOR YEAR Balance al 1 February 2021 Balance al 31 January 2022 Income Expendrture UNRESTRICTED FUNDS General Funds 15,932 75,900 {81,9081 9.924 Page g THATCHERS FOUNDATION IA COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023 RELATED PARTY TRANSACTIONS During the year the company re￿iVed donations of £75.000 {2022.. £75.0001 from Thatchers Cider Cornpany Limited, of which Martin Thalcher is a directoi. Page 10