Charity number: 1167539 The Tom Mabbott Fund Unaudited Trustees, report and financial statements for the year ended 31 March 2024
The Tom Mabbott Fund Contents Page Reference and administrative details of the company, its Trustees and advtsers Trustees. report Independent examinerfs report Statement of financial activities Balance sheet Notes to the fJnan¢ial statements 7-11
The Tom Mabbott Fund Reference and administrative details of the company, its Trustees and advisers for the year ended 31 March 2024 Trustees Kevin Munslow Helen Sadler Allan Mabbott Charity registered number 1167539 Principal office Clo Signature Litigation LLP 138 Fetter Lane London EC4A 1BT Accountants Kreston Reeves LLP Chartered Accountants 2nd Floor 168 Shoreditch High Street London EI 6RA Bankers Naest Bank Plc. 156 Fleet street London EC4A 2DX Page 1
The Tom Mabbott Fund Trustees, report for the year ended 31 March 2024 The Trustees present their annual report together with the financial statements of the The Tom Mabbott Fund for the period 1 April 2023 to 31 March 2024. Objectives and activities a. Policies and objectives The objective of the CIO is to provide relief of those in need, for the benefit of past and prèsent members and staff of Signature Litigation LLP and their dependants, by reason of youth, age, ill-health, disability, financial hardship or other disadvantage. b. Activities undertaken to achieve objectives The CIO will provide grants to fund medical procedures not readily available on the NHS or through medical insurance, specialist equipment needs, counselling support, respite and recuperation facilities and to relieve financial hardship. c. Main activities undertaken to further the company's purposes for the public benefit To date the Trustees have focused on ensuring that potential beneficiaries are aware of the existence of the fund and the support that it aims to provide. To date there have been no calls on the resources of the Fund. Achievements and performance . Key performance indicators The key financial performance indicators are as follows- The CIO is entitled to receive an annual donation from the Law Firm, Signature Litigation LLP, representing 10/0 of profits generated each year. For the year to 31st March 2024 total income generated from this source totalled £154,671 (2023.. £160,607) (inclusive of gift aid} and total income was £164,004 (2023: £162,974) including investment income, a surplus £164,004 (2023.. £152,203) was recorded for thè year and transferred to reserves. Key activities during the year focused on administrative tasks in addition to communicating with potential beneficiaries. The reserves of the CIO are held in cash and low risk investment. Financial review Going concern After making appropriate enquiries, the Trustees have a reasonable expectation that the company has adequate resources to continue in operational existènce for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparrng the financial statements. Further details regarding the adoption of the going concem basis can be found in the Accounting Policies. Page 2
The Tom Mabbott Fund Trustees. report (continued) ft)r the year ended 31 March 2024 structure, governance and management Constitution The Tom Mabbott Fund is a Charitable Incorporated Organisation (CIO) governed by Constitution dated 31st May 2016. The CIO was registered by the Charity Commission on 8th June 2016 (Registered No .' 1167539). b. 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 Charitable Incorporated Organisation. Organisational structure and decision-making policies The Trustees meet on an as needed basis in order to discharge their duties in relation to the management of the affairs of the CIO and decisions are reached by majority vote of the Trustees as set out in the CIO'S Constitution. Approved by order the members the board and signed on their behalf by: Trustees on Kevin Munslow (Trustee) Helen Sadler (Trustee) Page 3
The Tom Mabbott Fund Independent examinerfs report for the year ended 31 March 2024 Independent examiner's report to the Trustees of The Tom Mabbott Fund ('the company.) I report to the charity Trustees on my examination of the accounts of the company for the year ended 31 March 2024. Responsibilities and basis of report As the Trustees of the company you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 AcV)- I report in respect of my examination of the companys accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(51{b) of the 2011 Act. Independent examiner'5 Statement Your attention is drawn to the fact that the company has prepared the accounts in accordance wtth Accounting and Reporting by Charities- Statement of Recommended Practice applicable to charities preparing their accounts in accordance wtth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 in preference to the Accounting and Reporting by Charities- Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn. l understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. 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- accounting records were not kept in respect of the company as required by section 130 of the 2011 Act., or the accounts do not accord with those records- or the accounts do not comply with the applicable requirements Conrning 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 Gonsidered 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. This report is made solely to the company's Trustees. as a body, in accordance with Part 4 of the Chartties (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the companys Trustees those matters l am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the companys Trustee5 as a body, for mywork or for this report. 2411012024 Signed- Dated: K Ondhia Page 4
The Tom Mabbott Fund Statement of financial activities for the year ended 31 March 2024 Unrestricted funds 2024 Total funds 2024 Total funds 2023 Note Income from: Donations and legacies Investments 154,671 9,333 154,671 9,333 160,607 2,367 Total income 164,004 164,004 162,974 Expenditure on: Charitable activities 472 Total expenditure 472 Net incorne before net losses on investments Net105ses on investments 164,004 164,004 162,502 110,299) Net movement in funds 164.004 164,004 152,203 ReconGiliation of funds: Total funds brought forward Nel movement in funds 715,967 164,004 715,967 164,004 563,764 152,203 Total funds carried forward 879,971 879,971 715,967 The Statement of financial activities includes all gains and losses recognised in the year. The notes on pages 7 to 11 fomi part of these financial statements. Page 5
The Tom Mabbott Fund Balance sheet as at 31 March 2024 2024 2023 Note Fixed assets Current assets Debtors Cash at bank and in hand 124,672 755,299 318,181 397,786 879,971 715,967 Net current assets 879,971 715,967 Total assets less current liabilities 879,971 715,967 Net assets excluding pension asset 879,971 715,967 Total net assets 879,971 715.967 Charity funds Restricted funds Unrestricted funds 10 10 879,971 715,967 Total funds 879,971 715,967 The financial ststements were approved and authorised for issue by the Trustees and signed on their behalf by: on Kevin Munslow (Trustee) Helen Sadler (Trustee) The notes on pages 7 to 11 form part of these financial statements. Page 6
The Tom Mabbott Fund Notes to the financial statements for the year ended 31 March 2024 General information The Tom Mabbott Fund is a Charitable Incorporated Organisation (CIO) governed by Constitution dated 31st May 2016. The CIO was registered by the Charity Commission on 8th June 2016 (Registered No 1167539). Accounting policies 2.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP IFRS 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 Irèland (FRS 1021 (èffective 1 January 2015). the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. The financial statements have been prepared to give a 'true and fair, view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair, view. This departure has involved following the Charities SORP IFRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. The Tom Mabbott Fund meets the definition of a public benefit entity under FRS 102. Assets and liabiltties are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. 2.2 Going concern 'The Trustees assess whether the use of going concem is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the Charity to continue as a going concern. The Trustees make this assessment in respect of a period of al least one year from the date of authorisation for issue of the financial ststements and have concluded that the Charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the Charity's ability to continue as a going cOnrn, thus they continue to adopt the going concern basis of accounting in preparing the financial statements. 2.3 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. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. Page 7
The Tom Mabbott Fund Notes to the financial statements for the year ended 31 March 2024 Accounting policies (continued) 2.4 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 beMeen 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. 2.5 Debtors Trade and other debtors are recognisèd at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 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 Financial instruments The company only has financial assets and financial liabilities 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 with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 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. Investment income, gains and losses are allocated to the appropriate fund. Income from donations and legacies Unrestricted funds 2024 Total funds 2024 Total funds 2023 Donations 154,671 154,671 160,607 Page 8
The Tom Mabbott Fund Notes to the financial statements for the year ended 31 March 2024 Investment income Unrestricted funds 2024 Total funds 2024 Total funds 2023 Investment income 9,333 9,333 2,367 Total 2023 2,367 2,367 Analysis of expenditure on charitable activities Summary by fund type Unrestricted funds 2024 Total 2024 Total 2023 Direct costs 472 Total 2024 472 Analysis of expenditure by activities Activities undertaken directly 2024 Total funds 2024 Total funds 2023 Investment management fees 472 Total 2024 472 Independent examiner's remuneration The independent examinerfs remuneration amounts to an independent examiner fee of £ (2023 - £ -). Trustees. remuneration and expenses During the year, no Trustees received any remuneration or other benefits (2023 - £NIL)- During the year ended 31 March 2024, no Trustee expenses have been incurred (2023 - £NIL). Page 9
The Tom Mabbott Fund Notes to the financial statements for the year ended 31 March 2024 Debtors 2024 2023 Due within one year Trade debtors Other debtors 124,672 130,608 187.573 124,672 318,181 10. Statement of funds statement of funds - current year Balance at 31 Mar¢h 2024 Balance at 1 April 2023 Income Unrestricted funds General Funds - all funds 715,967 164,004 879,971 Statement of funds - prior year Balance at 31 March 2023 Balan at 1 April 2022 Gainsl (Losses) Income Expenditure Unrestricted funds General Funds - all funds 563,764 162,974 (472) 110,299) 715,967 11. Analysis of net assets between funds Analysis of net assets between funds - current period Unrestricted funds 2024 Total funds 2024 Current assets 879.971 879,971 Total 879,971 879,971 Page 10
The Tom Mabbott Fund Notes to the financial statements for the year ended 31 March 2024 11. Analysis of net assets bètween funds (continued) Analysis of net assets between funds - prior period Unrestricted funds 2023 Total funds 2023 Current assets 715,967 715,967 Total 715,967 715,967 Page11