ALEX TIMPSON TRUST CHARITY NUMBER 1174098 UNAUDITED ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 Alex Timpson Trfrt
ALEX TIMPSON TRUST CHARITY NUMBER 1174098 ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their report forthe year ended 31 March 2024 Adminlstrxtlve infoTni#tion Trustees The tru8tees dknring the year were a5 follows.. Sir William John Anthony Timpson CBE Mr William Jarnes Timpson OBE Mrs Louise Appleby Chaimjan Regist¢r¢d Charity Number 1174098 Registered 8ddres$ Timpson House Claverton Road Wythenshawe M23 9TT Bankers Natwe$t 19 Market Street Manchester MI IWR Independent Examiner JA Fox FCA l Tintern Avenue Flixton Manchester M416FJ
ALEX TIMPSON TRUST CHARITY NUMBER 1174098 ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 The trllstees preseni their annual r¢port and financial statements of the eharity for the year ended 31 March 2024. The financial statements have been prepared in accordance with the accouniing policies set out in note I lo the financial statements and ¢omply with the Charities Aci 2011 and the Statement of Recommended Practice.. Accounting and Reporting by Charities {FRS 10?). Strncture governAnte rnanagement Th¢ Trust is a registered charity, numE¢r 1174098, and is forn]ed under a Constitution dated 3 July 2017. The tte¢S who have served during the year ar¢ 5¢t oui on page l. The fTrst trustee8 were.%electcd hy the f.hair trb reflect a range of skills and experience. Future trusiees will be identified and appointed by the continuing trustees. The Constitution provides for a minimum of i trustees to a MlMuM of 12 trnstees, with any future trustees to be appointed to serve for 3 years. The induction process for new tN5tees includes an initial Meeting with the Chair and other tnlet$ and 211 trustees are given a copy of the Constitution and the latest annual report. At iheir quarterly meetings, the tm#ee5 agree the broad strategy and areas of activty for the TrusL including ¢onsiderdtton of grant making, ServeS and risk management policies. The day to day administration of grants and holiday home places is delegated EO one of the trustees and tht &dtninisirator. Decisions are mad¢ by a Tnajority vote of ihe tru$t¢e$. All trustees (who cornpris¢ the key management personnel) give of their time freely and no tNstee reTllunerdtion was paid in ihe year, other than as diwlosed in note 4. Related paty transactions are diselosed in not¢ 13 to the accounts. Risk managefflent The trn5tees have considered th¢ major risks to which the ¢harity is exposed and have reviewed those risks and established systems and procedures to manage them. Objects and #etivitie5 for the publlc benefit The objects of the Trust are to support ¢hildren. young people and their families who are in need by reason of financial hardship, ill health. disability or other disadvantage. The current focus of the Trust is on those who are, or have been, in the care system with a focus on attaChent and having the objective of making every school in the ¢ounty attachment aware. The tntsiees ¢onfirni that they have refrrred to the guidance contained in th¢ Charity Commission's general guidance on public benefit whet] reviewing the Trust's aims and objectives and planning future activities and setting the grant making policy for this year. The Tn1 c&rrie$ out these objects by: Offering free holiday home places to foster families. Promoting attachment awareness in schools and in the gen¢ral public throu the distribution of free books for teachers, other profrssionals and parents on attaclllnen¢ Supporting research into an&¢hment: Encouraging more people to become foster carer5" Funding res¢ar¢h into ways to streamline children's social services Offering bursaries to sch(Kil3 for enriehtnent activities; and Offering one off grants to small ehartties working with children and young people. AchiewemeDts And performwnce Our main source of donaiions is from tin collections irt the Timp50n Group branches. During th¢ y¢4r we received donations of £347,000 (2023 - £315,000) from these tin collections which is a ph¢nom¢nal amount and we would like to tAk¢ this Oprnlty to thartk the customers of the Timp50n Group for their continued support and generosity duTing these times of economic uncertainty. These donaiions enabled us to send 135 (2023.. 11 l) foster families on holiday during the year whilst continuing to supwTrrt research and training in attschment.
ALEXTIMPSON TRUST CHARITY NUMBER 11741198 ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 Future plans We will ¢ODtinu¢ working to spread an awarenes5 of atta¢hment to all s¢hools in the county and promoting foster ¢aring. We are foeussing on inCreing our profile on so¢ial media and also nettvorking with various ortsani5ations, local authorities and foster aLTrenci¢s Wlth the aim to be abl¢ to send even more fosier families on holiday. Financial review Inrome/ e.rp¢NdiThre Th¢ Trust recognised income of £357279 in the year. This mostly comprise5 collection tin income from Tirnpson group stores. Collection tin income Other direct donations Bank interest received 346.828 7.680 2,771 We ¢ith¢r spenL or have committed, £345.134 of those donations on the following Grants awarded to children's c]wities Grant awarded for research Grants awarded to attachrnent related charities liental of holida homes for foster families Chari rnnnin costs 94,955 15.000 29.988 179.901 25.290 345,134 Balance sheer The Trust net assets of £272,990 (2023- r260,845). Reserves Reserves at the y¢ar end are £272,990. The Trust has sufficient assets to tllett all contracted liabilities at the balance sheet date. ReseTrvexpolicy The trumees will ensure that the Trust has three months of forecast expenditure in its reserves at all times and six months when possible. Forecasl general expenditure for 2024125 is £365k, so there is more than 6 months forecast expendithre ¢urrently in free reserves. The trnstees will be looking to make donations in the coming year to furtheT Utilis¢ this reserves level. JKves¢menipolicy The tru5t¢¢s have an obligation to secwe the best financial rethm within agreed levels of risL As most of the charity's funds are spent in the short tern) it leaves few opportunities for long¢r ¢¢rrn investment as the trnstees would always wish to have a lev¢1 of availabl¢ fvnds to meet the obligations as they fall due. Signed on behalf of th¢ trustee5 Sir William John Anthoiry Timpson CBE Date Il 2cJZ Ltr
ALEX TIMPSON TRUST CHARITY NUMBER 1174098 ANNUAL REPORT FOR YKAR ENDED 31 MARCH 2024 Indepeodent esaminer's report to the trnitees ofAleI Tlinpson Trust I report to the tNstees on my examination of the accounts of the Alex Timpson Tntst {the Tn1) for the year ended 31 Mawh 2024 which are set INJt on pages S to 13. RespoMibililie5 and basis of report As the charity trustees of the Trust you are restx)nsible for the prep8r&tion of the ac£(xmts in accordan¢e with the requirements of the Charities Act 2011 ('the Act,). I report ill respect of my eXinAtiOn of tbe Trust's Unts Caled out under section 145 ofthe 2011 Act and in carrying Out my examination I have follow¢d all the applicable Directions giv¢n by the Charity G)mmission under section 145{5Xb) of the Act. Jndepeldent examiner'8 81*t¢m¢nl I have completed my exwnination. I ¢onfitrn that no material matters have come to my attention in connKtion with the exan)irkation VIng m¢ ¢au8e to bdi¢vt that in aDy Matla1 $peGt.' . accounting records-were ttot kept in r¢sp¢¢t of T[lt a8 requifed by seotlon 130 of the AGL or 2. the accounts do not a¢¢ord with thos¢ rKord5.' or 3. the accounts do ¢omply with th¢ 4ppli¢able iequiretnents concerning the form and content of accounts set ojt in the Charities (A¢coutrts and R¢ports) Regulations 2008 other than any requirement that the acc(xmts give a'tNe and fair view wbi¢h is not 4 matter ¢on5idered as part of aTh independent examination. 4. the acctyjnts hav¢ not been prepared in accordance with the methods and principles of the Statement of lieomnmended Practice for accountinB and roning by tharities (applicable to charities.preparing their accounts in accordanc¢ with th¢ Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). I have no concerns and have aGr055 no other matters in connection wtth the examination to which attention shId be drawn in this report in Ord to enable a proper understhndillg of the a¢¢wnts to be reached. Signed. JA Fox FCA I Tintern Avenue Flixton Mallchestet M416FJ Date". 24 June 2024
ALEX TIMPSON TRUST CHARITY NUMBER 1174098 ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 Note Unrestrlcted Funds Restricted Funds 2024 Total 2023 Total Funds In£ome Donations 354,508 2.771 354.508 2.771 424,304 1.326 Bank interest received Total 357279 357,279 425.630 Expendlture Charitable Adivitie$ 31415 1345,134) {345,134) (445,865) Totsl ExpeDditure {345,134) (345,134) (445,865) Net mov¢ment in futtds 12,145 12.145 (20.235) Total fid$ brought forward 260,845 260.845 281.080 Totsl funds carried fonyard 272,990 272,990 260,845 All fimds in l)oth years are unrestricTrd funds
ALEX TIMPSON TRUST CHARITY NUMBER 1174098 ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 BALANCE SHEET AS AT 31 MARCH 2024 Note 2024 2023 TANGIBLE FIXED ASSETS 69,220 77,057 CURRENT ASSETS Cash at bat)k Debtors 245.873 14.309 327.673 11.650 260,182 339,323 CREDITORS Amounts falling due wtthin one yettr 16,412 135,535 NET CURRENT ASSETS 243,770 203,788 TOTAL ASSETS LESS CURRENT LIABILITIES 312,990 280,845 CREDITORS Amounts falling due after more than one year 40,000 20,000 NET ASSETS 272,990 260,845 RESERVES UnrestrEcted generdl funds Unrestrided designated ndS 272.990 260.845 TOTAL RESERVES 272,990 260,845 The financial statements were approved by the trnStees on I l 2(rz4 and sI¢d on their behalf by: Slr Wllliam John Alltbolly TlmpsonCBE TSlee Cbirm Mr Willixtn Timpyvrt OBE Trustee The noies on pages 8 to 13 form part of these fmancial statsrnents.
ALEX TIMPSON TRUST CHARITY NUMBER 1174098 ANNiJAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 STATEMENT OF CASHFLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Net incomel(expenditure) for the peru)d 12.145 {20235) Adjustments for. Depreciation (Increase) I decrease in debtors (Decrease) in creditors 7,837 (2,659) (99,123) ,306 69,938 {5,625) Net cash (used in) /provided by operating aclivities (81.800) 45,384 Cash nows from investing activities Payments to acquire tanrwible fixed assets (78,363) Change ID cash and cash equivalents (81.8CN)) (32,979) Change in cash and cash equivalents Cash and cash equiyalents brought fonvard (81.800) 327.673 (32,979) 360.652 Cash and Cash equlvalents earned forward 245,873 327,673
ALEX TIMPSON TRUST CHARITY NUMBER 1174098 ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 21124 NOTES TO THE FINANCIAL STATEMENTS ACCOUNTING POLICIES 1.1 Basis of preparing the finaneial statements These financial stat¢m¢nts have been prepared under the histori¢al ¢ost ¢onv¢ntion with ims recognised at cost or transaction value unless othenvise srated in the r¢levant notes to th¢se Financial Sthiements. The financial statements have been prepared in accordance with the Statement of Recommended Practice.. Accollntinrw 2nd Reporting by Charities preparing their accounts in accordan¢e with the Financial R¢porting Standard applicable in the UK and Republic of Ireland (FRS 102) aT]d Charities Aet 2011. Th¢ Alex TiTnpson Trust constitute5 a public benefit entity as defined by FRS 102. The cuent accounting year rnns frorn l April 2023 to 31 March 2024. The comparative period is for the year ended 31 March 2023. .2 Going concer There are no material uncertainties related to events or conditions that may cast significant doubt un the charity's abiliry to continue as a gotng concern. Our major corpordte donor. Timpson Lirnited intends to allow the charity to keep collection boxes in its stores (which are our major income source) for the foreseeable fuNre. We have looked at a period of at least 12 months from the date of signature of the accounts tn conSiderg going concern. IJ Fund 8e¢ounting Unrestri¢¢ed funds are available for use at the discretion of the trnStees in furth¢ran¢e of th¢ general objectiY¢s of th¢ charity and have not been designated for other purposes. Designated unrestricted funds are desIated for particular purposes by the trust¢¢s. 1.4 Income All income i5 included in the Statement of Financial Activities when the Charity has entitlernent to the funds. probability of receipt and the amount can be mea5UTed with sufficient reliability. Income from tin donations is r¢coL7nised when the funds are received into the Trust's bank ac¢ount. 1.5 Expenditure Grdnts payable are charged in the year when the offer is made except in those cases where the offer is conditional, such artt$ IKillg recognised as expenditure wheD the conditions attaching are Ifilled. Grants otTered subject to conditioJ]s which have not be¢n met at the year end are not acCnl as expenditure. Expenditu 15 re¢ognised once there 15 a legal or nstrliVe obligalion to mak¢ payment to a third party, il is probable that settlement will be required and the amount of the obligalion wi be measured reliably. All expenditure is accounted for on an accntals b&si All expenses including supwrt costs are allocated to the applicable eXp¢nd1nL headings and activities of the charity.
ALEX TIMpsof4 TRUST CHARITY NUMBER 1174098 ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 NOTES TO THE FINANCIAL STATEMENTS {continlled) ACCOUNTINC POLICIES (continued) 1.6 Cash at bank and in hand Cash at bank and in hand in¢ludes ¢ash and short terni highly liquid investments with a short mHtiiriry Trf thre.e. mnnths nr le$8 frnrn the dxte nf acqui%itinn or opening of the deposit or similar account. 1.7 Tax4tion The charity is a giStrred charity and based on the activitie5 undertaken 15 not liable for UK ¢orporation on its ¢haritabl¢ activities. The charity wa5 not VAT registered and therefore all expenses ar¢ inclusive of any VAT which cannot be fully r¢¢over¢d. VOLUNTARY INCOME 2024 2023 Branch collection box¢s Other donations 346,828 7,680 315.436 108,868 354,508 424.304 3. CHARITABLE ACTIVITIES 2024 2023 Grants made to institutions Rental of holiday homes Attachment awareness events Purchase of books 109,955 179,901 29.988 225,387 153,057 38,4¢X) 1,870 319.844 418,714 Grant Family So¢i¢ty Other charities and schMIs 15,000 Grant awarded for research 94,955 Various projects 109,955
ALEX TIMPSON TRUST CHARITY NUMBER 1174098 ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 NOTES TO THE FINANCIAL STATEMENTS (continued) 4. SUPPORT COSTS 2024 2023 Travel Bank charg¢s Consultancy fees Independent examination fee PrintInpostag$l4IIon¢ryne8flets Sundry Depreciation 461 68 .875 2.225 3.633 9.394 1.306 83 2.225 6,071 7.837 16216 18,962 During the year eXnSeS totalling £nil were paid to no trustees {2023 - £132 to I trustee) to reimburse IheTll for trdvEI and accornrnodation ¢xpenses incurred OD behalf of the charity. Related party transactions are disclosed in note 13. 5. COLLEAGUE COSTS 2024 2023 Wages & salaries 9,074 8,189 9,074 8,189 The average rnonthly nufftber of colleagues during the year was as follows.. 21124 2023 Nufftber of administrative colleagues No ¢olleague rX¢iV r¢muneTation amounting lo moTe than £60,0 in the year (2023- none). 10
ALEX TIMPSON TRUST CHARITY NUMBER 11741198 ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 NOTES TO THE FINANCIAL STATEMENTS (eontinued) 6. TANGIBLE FIXED ASSETS Short leasehold COST As at l April 2023 Additions 78,363 As at 31 March 2024 78.363 DEPRECIATION As at l April 2023 Charge for the y 1,306 7,837 As at 31 March 2024 9,143 As at 31 March 2024 69.220 A$ ai 31 March 2023 77,057 DEBTORS 2024 2023 ArUed income Debtors Prepayments 14,209 11,650 14,309 11,650 8. CREDrroRS within one year 2024 2023 Accruals 16,412 135,535 16.412 135,535 9. CREDITORS due after more Ib#n one year 2024 2023 Accruals 40,000 20,000 40,000 20,0 Creditors due after more that] one yearrelate io the final year of bws8ry due to NWA Trust- Delamere and a donation to Festival of Sport.
ALEX TIMPSON TRUST CHARJTY NUMBER 1174098 ANNUAL REPORT FOR THE YEAR ENDED31 MARCH 2024 NOTES TO THE FINANCIAL STATEMENTS (continued) 10. ANALYSIS OF NET ASSETS BETWEEN FUNDS 2024 Total runds 2023 Total funds Unrestricted funds Rtstrieted funds Tangible fixed assets Net current assets Long tertn cr¢ditors 69,220 243,770 (40,(K)O) 69,220 243,770 {40,(100) 77,057 203,788 (20,000) 272.990 272,990 260,845 11. MOVEMENT IN FUNDS Brought forward At 01.04.23 Income Expendi¢Nre Trnth$f¢r Carried forward At 31.03.24 Unrestricted general fvnds UT)restricted desiwted funds 260.845 357279 (345,134) 272,990 Tot&1 Fllnds 260,845 357.279 (345.134) 272,990 The ¢arri¢d forward general funds are forecast to be spent within the next twelve months. Brought forwxrd At 01.04.22 Ineome ExpendSture Transfer Carrled forwgrd At 31.3.23 Unftstri¢ted general funds Unrestricted d¢signat¢d fvnds 281,080 425,630 (445.865) 260.845 Total Funds 281.080 425,630 {445,865) 260,845 12. OPERATING LEASE COMMITMEiYrs Ai the balanc¢ Sheet dat4 the TnLSt had annual commitments under non-cancellable operating leases as set out below.. Land and buildings 2024 2023 Operating leases whi¢h ¢iT¢. Within one y¢ar In the second to fitlh year Over five years 70,560 214.800 214,800 70,560 The leaw were renewed for 4 three year agreement with a three month notice period by either party. 12
ALEX TIMPSON TRUST CHARITY NUMBER 1174098 ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 NOTES TO THE FINANCIAL STATEMENTS (eolltlnued) 13. RELATED PARTY TRANSACTIONS Two of the trusi¢es of the Alex Timp50n Tnt are also directors of Tirnpson Limited. The ¢harity's mail] sgur¢e of donations 15 from tin collections in the Timpson Group branches. During th¢ donations of £346,828 were received (2023- £315.436) thes¥ lili LoII¢LLioiis. ln addition, during the 2023 year end Timpson Limi¢ed donated £90,(N)O lo the Trust. The Trust rents holiday hoTne properties which ar¢ owned by Companies in the Timpson Group. During the year £70,647 {2023- £70.560) was incurred in this respecL During the previous year an amount of £1,875 was expensed in the Statement of Financial Activities in respect of charges made by EIiz21Kth Harlow, a trustee (to 31 December 2022). in respect of professional consultin8 work. 13