ALEX TIMPSON TRUST CHARITY NUMBER 1174098 UNAUDITED ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025 Alex Timpson
ALEX TIMPSON TRUST CHARITY NUMBER 1174098 ANIWAL REPORT FOR THE YEAR ENDED 31 MARCH 2025 The trustees PTesent their report for the year ended 31 March 2025 Administrative information Trustees The trnstees during the year were as follows: Sir William John Anthony Timpson CBE Mr William James Timpson OBE Mrs Louise Appleby Mr Paresh Majithia Chainnan (resigned 5 July 2024) (appointed 5 July 2024) Registered Charity Number 1174098 Registered address Timpson House Claverton Road Wythenshawe M23 9TT Bankers Natwest 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 2025 The trustees present their annual report and financial statements of the charity for the year ended 31 March 2025. The fmancial statements have been prepared in accordance with the accounting policies set out in note I to the financial statements and comply with the Charities Act 2011 and the Statement of Recommended Practice." Accounting and Reporting by Charities (FRS 102). Strueture governance and management The Trust is a regisfrred charity, number 1174098. and is fomied under a Constithtion dated 3 July 2017. The trustees who have served during the year are set out on page l. Future trustees will be identified and appointed by the existing trustees to reflect a rdnge of skills and experience. The Constithtion provides for a minimum of 3 trustees to a maximum of12 trustees, with any future trustees to be appointed to serve for 3 years. The induction process for new trustees includes an initial meeting with the Chair and other trustees and all twstees are given a copy of the Constitution and the latest annual reporL At their quarterly meetings, the trnstees agree the broad strategy and areas of activity for the Trnst, including consideration of grdnt making, reserves and risk management policies. The day to day administration of grants and holiday home places is delegated to one of the trustees and the administrator. Decisions are made by a majority vote of the trustees. All trustees (who comprise the key management personnel) give of their time freely and no trnstee remuneration was paid in the year, other than as disclosed in note 4. Related party transactions are disclosed in note 14 to the aountS. Risk management The trustees have considered the major risks to which the charity is exposed and have reviewed those risks and established systems and procedures to manage them. Objects and activities for the public benefit The objects of the Trust are to support children, youn¥ people and their families who are in need by reason of fmancial hardship, ill health, disability or otheT disadvantaoe. The current focus of the Trust is on those who are, or have been, in the care system with a focus on attachment and having the objective of making every school in the county attachment aware. The trustees confjrni that they have refeed to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Tt'S aims and objectives and planning future activities and setting the grant making policy for this year. The Trust CaleS out these objects by: Offering free holiday home places to foster families. Promoting attachment awareness in schools and in the general public through the distribution of free books for teachers. other professionals and parents on attachment. Supporting research into attachment" Encouraging more people to become foster carers. Funding research into ways to streamline children's social service5 Offering bursaries to schools for enriclllnent activities" and Offering one off grants to small charities working with children and young people. Achievements and performance Our maill source of donations is from tin collections in the Titnpson Group branches. During the yffar w¢ received donations of £347,000 (2024 - £347,000) from these tin collections which is a phenornenal amount and we would like to take this opportunity to thank the customers of the Timpson Group for their continued support and generosity during these times of economic uncertainty. These donations enabled us to send 14? (2024." 135) foster families on holiday during the year whilst continuing to support research and training in attachment.
ALEX TJMPSOIY TRUST CHARITY NUMBER 1174098 ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025 Future plans We will continue working to spread an awareness of attachment to all schools in the county and promoting foster caring. We are focussing on increasing our profile on social media and also networking with various organisations, local authorities and foster agencies with the aim to be able to send even more foster families on holiday. Finalleial review Income/ PendI[re The Trust recognised income of £598,426 in the year. This mostly comprises collection tin income from Timp50n group stores. Collection tin incotne Other direct donations Bank interest received 347.115 248.094 3.217 We either spenL or have committed, £436295 of those donations on the following Grants awarded to children's charities Grant awarded for research Grants awarded to attachment related charities Other bursaries for schools Rental of liolida homes for foster families Chari runnino costs Purch¢8 of books 89.905 95.000 10.500 30.1)00 149,732 36.074 25.084 436,295 Balance sheet The Trust has net assets of £435,121 (2024 - £272.990). Reserves Unrestricted reserves at the year end are £415,121. The Trust has sutTicient assets to meet all contracted liabilities at the balance sheet date. Raservespolicy The trustees will ensure that the Trust has three months of forec&st expenditure in its reserves at all times and six months when p055ible. Forecast general expenditure for 2025126 is £398,000, so there is more than 6 months forecast expenditure ruentlY in free reserves. The trustees will be looking to make donations in the COTning year to further utilise this reserves level. Im¥estmentpolicy The ttustees have an obligation to secure the best fmancial return within agreed levels of risk. As most of tbe charity's fimds are spent in the short terni it leaves few opportunities for longer terni inveslment &s the trustees would always wish to have a level of available funds to meet the obligations as they fall due. Signed on behalf of the trustses Sir William John Anthony Timpson CBE Chairman Date 21F&no 2(Qs
ALEX TIMPSOIY TRUST CHARITY NUMBER 1174098 ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025 Independent examiner's report to the trustees of Alex Timpson Trust I report to the trustees on my examination of the accounts of the Alex Timpson Trust (the Trust) for the year ended 31 March 2025 which are set out on pages 5 to 13. Responsibilities and basis of report As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requiretnents of the Charities Act 2011 ('the Act,). I report in respect of my examination of the Trust'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 Act. Independent examiner's statement Since the charity's gross incorne exceeded £250.(M)O your examiner must be a member of a body listed in section 145 of the 201 l Act. I confinn that l am qualified to undertake the examination becaus¢ l am member of The (nstitute of Chartered Accountants in England and Wales, which is one of the listed bodies. I have completed my examination. I confm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: l. accounting records were not kept in respect of the Trust as required by section 130 of the Act. or 2. the accounts do not accord with those records. or 3. the accounts ao not comply with the applicable requirements concerning the forni and content of accounls 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. 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102)). 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 reache(L Signed: JA Fox FCA l Tintern Avenue Flixton Manchester M416FJ Date." IS 203s
ALF.X TIMPSON TRUST CHARITY NUMBER 1174098 ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 Note Unrestricted Funds Restricted Funds 2025 Total Funds 2024 Total Funds Income Donations Bank interest received 575,209 3.217 20,000 595,209 3,217 354,508 2,771 Total Income 578,426 20,000 598,426 357,279 Expenditure Charitable Activities 31415 (436,295) (436,295) (345,134) Total Expenditure (436,295) (436,295) (345,134) Net movement in funds 142,131 20,000 162,131 12,145 Tolal ndS brought forward 272,990 272,990 260,845 Total funds carried fonyard 12 415,121 20,000 435,121 272,990 All funds in the previous year were unrestricted fimds.
ALEX TIMPSON TRUST CHARITY NUMBER 1174098 ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025 BALANCE SHEET AS AT 31 MARCH 2025 Note 2025 2024 TANGIBLE FIXED ASSETS 61,384 69,220 DEBTOR DUE AFTER MORE THAN ONE YEAR 75,000 CURRENT ASSETS Cash at bank Debtors: amounts falling due withirl one year 240,011 128,520 245,873 14.309 368,531 260,182 CREDITORS Amounts falling due within one year (39,794) (16,412) NET CURRENT ASSETS 328,737 243,770 TOTAL ASSETS LESS CURRENT LIABILITIES 465,121 312,990 CREDITORS Amounts falling due after more than one year io (30,000) (40,0) NET ASSETS 435,121 272,990 RESERVES Unrestricted general funds Restricted funds 12 12 415,121 20,000 272,990 TOTAL RESERVES 435,121 272,990 The fmancial statements were approved by the trustees on 24 202¥ and signed on their behalf by: Sir William John Anthony Timpson CBE Trustee and Chairman Mrs Trustee U15e Appleby The notes on pages 8 to 13 forni part of these fmancial statements.
ALEX TIMPSON TRUST CHARITY NUMBER 1174098 ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025 STATEMENT OF CASHFLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Net Ineome for the perlod 162,131 12,145 Adjustments for: Depreciation (Increase) in debtors Increase / (decre¢) in creditors 7,836 (189,211) 13,382 7,837 (2,659) (99,123) Net cash (used in) operating activities (5,862) (81,800) Cash flows from investing activities Payments to acquire tangible fed assets Change in Cash and cash equivalents (5,862) (81,800) Change in cash and cash equivalents Cash and cash equivalents brought forward (5,862) 245,873 (81,800) 327,673 Cash and eash equivalents earried forward 240,011 245,873
ALEX TIMPSON TRUST CHARITY NUMBER 1174098 ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS ACCOUNTING POLICIES 1.1 Basis of preparing the financial stalements These financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these Financial Statements. The fmancial statements have been prepared in accordance with the Statement of Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and Charities Act 2011. The Alex Timpson Trust constitutes a public benefit entity as defjned by FRS 102. The Cuent accounting year runs from l April 2024 to 31 March 2025. The comparative period is for the year ended 31 March 2024. 1.2 Going eoneern There are no material uncertainties related to events or conditions that may cast significant doubt upon the charity's ability to continue as a going concern. Our major corporate donor, Timpson Limited intends to allow the charity to keep collection boxes in its stores (which are our major income source) for the foreseeable future. We have looked at a period of at least 12 months from the date of signature of the accounts in considering going concern. IJ Fund accounting Unrestrirted funds are available for use at the discretion of the trnstees in fimherance of the general objectives of the charity and have not been designated for other purposes. Designated unrestricted funds are designated for particular purposes by the trustees. Restricted fimds can only be used for the pury)ose specified by the donor. 1.4 Income All income is included in the Statement of Financial Activities when the charity has entitlement to the nds, probability of receipt and the amount can be measured with sufficient reliability. Income from tin donations is recognised when the funds are received into the Trust's bank account. 1.5 Expenditure Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are not accrued as expenditure. Expenditure is recognised once there is a legal or constructive obligation to make payment to a third party, it is probable that settlement will be required and the anlount of the obligation can be measured reliably. All expenditure is accounted for OD an accruals basis. All expenses including support costs are allocated to the applicable expenditure headings and activities of the charity.
ALEX TIMPSON TRUST CHARITY NUMBER 1174098 ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS (eontinued) ACCOUNTING POLICIES (continued) 1.6 Cash at bank and in hand Cash at bank and in hand includes cash and short terni 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. 1.7 Taxation The charity is a registered charity and based on the activities undertaken is not liable for UK cooration tax on its charitable activities. The charity was not VA T registered and therefore all expenses are inclusive of any VAT which cannot be fully recovered. 2. VOLUNTARY IIYCOME 2025 2024 Branch collection boxes Other donations 347,115 248,094 346,828 7,680 595,209 354,508 3. CHAIUTABLE ACTIVITIES 2025 2024 Grants made to institutions Rental of holiday home Attachment awareness charities Purchase of books 214,905 149,732 10,5(K) 25,084 109,955 179,901 29,988 400,221 319,844 Grants made to instithllOP Grant Family Society Other charities and Sch(lS Other bursaries for schools 95,000 Grant awarded for research 89,905 Various projects 30,000 214,905
ALEX TIMPSON TRUST CHARITY NUMBER 1174098 ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS (continued) 4. SUPPORT COSTS 2025 2024 Travel Bank charges Independent examination fee Sundry Depreciation 174 84 2,250 16,064 7,836 83 2,225 6,071 7,837 26,408 16,216 During the year expenses totslling £nil were paid to no trustees (2024 - £nil) to reimburse them for travel and accommodation expenses incurred on behalf of the charity. Related party transactions are disclosed in note 14. 5. COLLEAGUE COSTS 2025 2024 Wages & salaries 9,666 9,074 9,666 9,074 The average monthly number of colleagues during the year was as follows: 2025 2024 Number of administrative colleagues No colleague received remuneration amounting to more than £60,0(X) in the year (2024- none). io
ALEX TIMPSON TRUST CHARITY NUMBER 1174098 ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS (continued) 6. TANGIBLE FIXED ASSETS Short leasehold COST As at l April 2024 Additions 78,363 As at 31 March 2025 78,363 DEPRECIATION As at l ApTiI 2024 Charge for the year 9.143 7,836 As at 31 March 2025 16,979 As at 31 March 2025 61,384 As at 31 March 2024 69220 7. DEBTORS 2025 2024 Accrued income Prepayments 75,000 53,520 loo 14,209 128,520 14,309 & DEBTORS due after more than one year 2025 2024 Accrued income 75,000 75,000 9. CREDoRs due wlthin one year 2025 2024 Accruals 39,794 16,412 39,794 16,412
ALEX TIMPSON TRUST CHARITY NUMBER 1174098 ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS (continued) 10. CREDITORS due after more than one year 2025 2024 Accruals 30,000 40,000 30,000 40,000 Creditors due after more than one year relate to the bursary due to NWA Trust- Delamere. 11. ANALYSIS OF NET ASSETS BETWEEN FUNDS 2025 Total funds 2024 Total funds Unreslricted funds Restricted funds Tangible fixed assets Debtor due after more than 12 months Net current assets Long tern] creditors 61,384 75,000 308,737 (30,000) 61,384 75,000 328,737 (30,000) 69220 20,000 243,770 (40,000) 415,121 20,0(X) 435,121 272.990 12. MOVEMENf IN FUNDS Brought forward At 01.04.24 Income Expenditure Transfer Carried forward At 31.03.25 Unrestricted general fund5 272,990 578,426 (436,295) 415,121 Restricted funds 20,000 20,000 Total Funds 272,990 598,426 (436,295) 435,121 The restricted fimd relates to a donation from the Sally & John Rideal Tntst for use in fimding kinship holidays. The carried forward general funds are forecast to be spent within the next twelve months, Brought forward At 01.04.23 Ineome Expenditure Transfer Carried forward At 31.3.24 Unrestricted general funds 260.845 357,279 (345,134) 272,990 Restricted funds Total Funds 260,845 357,279 (345,134) 272,990 12
ALEX TIMPSON TRUST CHAIUTY NUMBER 1174098 ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS (continued) 13. OPERATING LEASE COMMITMENTS At the balance sheet date, the Trust had annual commitments under non-cancellable operating leases as set out below: Land and buildings 2025 2024 Operating leases which expire: Within one year In the second to fifth year Over five year5 143.200 214.800 143,200 214,800 The leases were rellewed for a three year agreement with a three month notice period by either party. 14. RELATED PARTY TRANSACTIONS Two of the trustees of the Alex Timpson Trust are also directors of Timpson Limited. The charity's main source of donations is from tin collections in the Timpson Group branches. During the year donations of £347,115 were received (2024 - £346,828) from these tin collections. In addition, during the 2025 year end income of £225,000 from Timpson Limited w&s recognised in these rmancial statements. £150,000 of this is shown in these financial statements within debtors (£75,000 as a current debtor and £75,000 as an amount due in more than 12 months) as it was committed in relation to filture accounting periods. The Tnt rents holiday home properties which are owned by companies in the Timpson Group. During the year £71,600 (2024 - £70,647) was inCued in this respecL 13