Registered number: 09396110 Charity number: 1161391
THATCHERS FOUNDATION (A COMPANY LIMITED BY GUARANTEE)
UNAUDITED
TRUSTEES’ REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
9 Bishop Fleming
THATCHERS FOUNDATION (A COMPANY LIMITED BY GUARANTEE)
CONTENTS
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|Reference|and|Administrative|Details|of the|Company,|its|Trustees|and|Advisers|1|
|Trustees’|Report|2-3|
|Independent|Examiner's|Report|4|
|Statement|of Financial|Activities|5|
|Balance|Sheet|6|
|Notes|to|The|Financial|Statements|7-10|
|The|following|pages|do|not form|part|of the|statutory financial|statements:|
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Charity Detailed Income and Expenditure Account and Summaries
THATCHERS FOUNDATION (A COMPANY LIMITED BY GUARANTEE)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 JANUARY 2025
| Trustees | M Thatcher |
|---|---|
| A Thatcher | |
| P Smith | |
| M Williamson | |
| A Farron | |
| K Coxhead | |
| Company registered | |
| number | 09396110 |
| Charity registered | |
| number | 1161391 |
| Registered office | Myrtle Farm |
| Station Road | |
| Sandford | |
| Winscombe | |
| Somerset | |
| BS25 5RA | |
| Independent Examiner | Bishop Fleming Audit Limited |
| Chartered Accountants | |
| 10 Temple Back | |
| Bristol | |
| BS16FL |
Page 1
THATCHERS FOUNDATION (A COMPANY LIMITED BY GUARANTEE)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 JANUARY 2025
The Trustees present their annual report together with the financial statements of the company for the year ended 31 January 2025. The Annual Report serves the purposes of both a Trustees' report and a Directors’ report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the chaitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the company qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors’ Report) Regulations 2013 has been omitted.
Objectives and activities
Policies and objectives
The charity is established for charitable purposes for the benefit of the general public, in particular those living or working in Somerset, who are in need by reason of financial hardship, sickness, disability or other disadvantage or distress.
Activities undertaken to achieve objectives
The charity makes grants to both individuals and organisations within the community.
Main activities undertaken to further the Company's purposes for the public benefit
The main charitable activity undertaken is fundraising through local businesses and individuals. The Trustees have had due regard to the public benefit guidance published by the Charities Commission.
Achievements and performance
Key performance indicators
The Key Financial Performance Indicators are the amount of donations received and the amount of cash in hand at the year end.
Review of activities
Donations received in the year were £62,689 and the amount of cash held at the year end was £6,328. The Trustees are satisfied with the performance in the year. Donations to local causes increased to £91,570. The Trustees are satisfied that the charity continues to meet its policies and objectives.
Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future.
For this reason, they continue to adopt the going concern basis in preparing the financial statements.
Page 2
THATCHERS FOUNDATION (A COMPANY LIMITED BY GUARANTEE)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025
Reserves policy
The Trustees continue to focus on raising funds in order to maintain its charitable work in the community. As such the current policy is to build and maintain sufficient reserves to maintain this programme.
Structure, governance and management
Constitution
Thatchers Foundation is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 20 January 2015. The registered charity number is 1161391. The principal object of the company is to provide benefit to the general public, particularly those living or working within Somerset, who are in need.
Methods of appointment or election of Trustees
The management of the Company is the responsibility of the Trustees who are elected and co-opted under the terms of the Memorandum of Association.
Organisational structure and decision-making policies
Trustees meet when required, but at least annually to address operational and governance matters. The company plans to increase funding activities to further charitable activities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
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M Thatcher .
Trustee VY) Tha
Date: 2 y/ S|/pas
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Page 3
8 September 2025
THATCHERS FOUNDATION (A COMPANY LIMITED BY GUARANTEE)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 JANUARY 2025
| Unrestricted | Total | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| 2025 | 2025 | 2024 | ||
| Note | £ | £ | £ | |
| Income from: | ||||
| Donations and legacies | 62,689 | 62,689 | ||
| Total income | 62,689 | 62,689 | 18,752 | |
| Expenditure on: | ||||
| Charitable activities | 4 | 92,173 | 92,173 | 19,462 |
| Total expenditure | 92,173 | 92,173 | 19,462 | |
| Netmovement infunds | (29,484) | (29,484) | (710) | |
| Reconciliation offunds: | ||||
| Total funds brought forward | 10,224 | 10,224 | 10,934 | |
| Totalfundscarriedforward | (19,260) | (19,260) | 10,224 |
The notes on pages 7 to 10 form part of these financial statements.
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THATCHERS FOUNDATION (A COMPANY LIMITED BY GUARANTEE) REGISTERED NUMBER:09396110
BALANCE SHEET
AS AT 31 JANUARY 2025
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2025 2024
Note E £
Current assets
Cash at bank and in hand 6,328 10,224
6,328 10,224
Creditors: amounts falling due within one
year 6 (25,588) -
Net current liabilities / assets (19,260) 10,224
Total net assets (19,260) 10,224
Charity funds
Restricted funds 7 - ®
Unrestricted funds 7 (19,260) 10,224
Total funds (19,260) 10,224
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The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
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TrusteeM Thatcher \Vets,
Date: < 6 « 25
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The notes on pages 7 to 10 form part of these financial statements.
Page 6
THATCHERS FOUNDATION (A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
- GENERAL INFORMATION
Thatchers Foundation is a charity registered in England and Wales and a company limited by guarantee. Its registered address is Myrtle Farm Station Road, Sandford, Winscombe, England, BS25 5RA. It was incorporated on 20 January 2015 (company number 09396110) and registered as a charity on 20 January 2015 (charity number 1161391).
- ACCOUNTING POLICIES
2.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Thatchers Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
- 2.2 COMPANY STATUS
The company is company limited by guarantee. The members of the company 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 to £10 per member of the company.
- 2.3 GOING CONCERN
After making appropriate enquiries, the Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.
For this reason, they continue to adopt the going concern basis in preparing the financial statements.
- 2.4 INCOME
All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
- 2.5 EXPENDITURE
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities 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.
All expenditure is inclusive of irrecoverable VAT.
Page 7
THATCHERS FOUNDATION (A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
2. ACCOUNTING POLICIES (continued)
2.6 CASH AT BANK AND IN HAND
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.7 LIABILITIES AND PROVISIONS
|
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
2.8 FUND ACCOUNTING
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.
- INCOME FROM DONATIONS AND LEGACIES
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2025 | 2025 | 2024 | |
| £ | £ | £ | |
| Donations | 62,689 | 62,689 | 18,752 |
4, ANALYSIS OF EXPENDITURE BY ACTIVITIES
| Activities | ||||
|---|---|---|---|---|
| undertaken | Support | Total | Total | |
| directly | costs | funds | funds | |
| 2025 | 2025 | 2025 | 2024 | |
| £ | £ | £ | £ | |
| Charitable activities | 91,570 | 603 | 92,173 | 19,462 |
| TOTAL2024 | 18,850 | 612 | 19,462 |
Page 8
THATCHERS FOUNDATION (A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
4, ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED)
ANALYSIS OF DIRECT COSTS
| Activities | Total funds |
Total funds |
|
|---|---|---|---|
| 2025 | 2025 | 2024 | |
| £ | £ | £ | |
| Grants payable | 91,570 | 91,570 | 18,850 |
| ANALYSIS OF SUPPORT COSTS | |||
| Activities | Total funds |
Total funds |
|
| 2025 | 2025 | 2024 | |
| £ | £ | £ | |
| Bank charges | 15 | 15 | 24 |
| Insurance | 588 | 588 | 588 |
| 603 | 603 | 612 |
5. TRUSTEES’ REMUNERATION AND EXPENSES
During the year, no Trustees received any remuneration or other benefits (2024 - £NIL).
During the year ended 31 January 2025, no Trustee expenses have been incurred (2024 - £NIL).
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Grants payable | 25,000 | “ |
| Accruals and deferred income | 588 | - |
| 25,588 | - |
Within Grants payable is a committed donation of £25,000, due to Winscombe Community Association in the financial year ended 31 January 2026.
Page 9
THATCHERS FOUNDATION (A COMPANY LIMITED BY GUARANTEE)
| | | | |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
ts STATEMENT OF FUNDS
STATEMENT OF FUNDS - CURRENT YEAR
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|---|---|---|---|---|---|---|---|
|Balance|at|Balance|at|
|1|February|31|January|
|2024|Income|Expenditure|2025|
|||
||UNRESTRICTED|FUNDS|
|||General|Funds-|all funds|10,224|62,689|(92,173)|(19,260)|
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The general fund reserve balance is sitting in a deficit position at the year end, however the Trustees expect that position to resolve due to regular income from the main donor, Thatchers Cider Company Limited.
STATEMENT OF FUNDS - PRIOR YEAR
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|---|---|---|---|---|---|
|Balance|at|Balance|at|
|1|February|31|January|
|2023|Income|Expenditure|2024|
|£|£|£|pa|
|UNRESTRICTED|FUNDS|
|General|Funds|10,934|18,752|(19,462)|10,224|
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8. RELATED PARTY TRANSACTIONS
During the year the company received donations of £55,000 (2024: £15,000) from Thatchers Cider Company Limited, of which Martin Thatcher is a director.
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