REGISTERED COMPANY NUMBER.. 11449025 (England and Wales) REGISTERED CHAR NUMBER: 1183615 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31ST JULY 2024 FOR THE TRUST FOR SIR NEIL AND LADIES SHEILA AND ELIzABH THORNE UMrrED Clemence Hoar Curnrning5 Chartered Accountants Riverside House 1-5 Como Street Romford Essex RM7 7DN
THE TRUST FOR SIR NEIL AND LADIES SHEILA AND ELIZABETH THOR14E LIMITED CONTENTS OF THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31ST JVLY 2024 Page Report of the Trustees IndÈpendent EXarnInes Rèport staternent of Financial Activities Balance Sheet Cash Flow Staternent Notes to the Cash Flow Statement Notes to the Financial Statements 9 to 14
THE TRUST FOR SIR NEIL AND LADIES SHEILA AND EUZABETH THORNE LIMITED (REGISTERED NUMBER: 11449025) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST JULY 2024 The trustees who a also directors of the charity for the purposes of the Companies Att 2006, present their report with the financial statements of rhe charity for the year ended 31st July 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Irel8nd (FRS 102) (effective l January 2019). OBJECTIVES AND ACTIvrrIES Objectives and aims The purpos of the trust are to support educational projects, relief of sickness and promots.on of good physical ané mental wellbeing, the promotion of religious hannony between faiths through education and the preservation and conservation of historic buildings and monuments and historical records and archives and education of the public in the buildings, memorials and related events. 51gnlfl¢ant actlvltles During the the year the trust received in ffrom the Executors of Lady Elizabeth Thorne a portfolio which is administered by Charles Stanley ané will provide income in the futLJre to fund the charitable activities of the Trust. The executors of the estate also made further donations Into the trust of intome received during administratlon. The charity has been able to make a number of grants to charitable institutions.. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing dooJment, a deed of trust, and constitutes a limited companyi limited by guarantee, as defined by the Companies Act 2006. Risk management The trustees have a duty to identify ant1 review the risks to which the charity is exposed and to ensure approprlate controls are in place to pravide reasonable assurance against fvaud and error. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 11449025 (Englané and Wales) Registered Charity number 1183615 Registered office CIO Virtual Cotnpany Setretary Mited 7 York Road Woknng srY GU22 7XH Trustees S Thorne Parliamentary Advisor N Thorne Parliamentary Consultant A Montlake Solicitor S J Sanders Business Development Direttor Company Secretary ARM Secretaries Limited Independent Examiner David Belbin Clemence Hoar Cummings Chartereé Accountants Riverside House 1-5 Como Street Romford Essex RM7 7DN Page I
THE TRUST FOR SIR NEIL AND LADIES SHEILA AND EUZABETH THORNE LIMITED (REGISTERED NUMBER: 11449025) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST JULY 2024 Approved by order of the board of trustees on 12th April 2025 and signed on rts behalf by.. N Thorne - Trustee Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE TRUST FOR SIR NEIL AND LADIES SHEILA AND ELIZABEfH THORNE UMITED Independent examlner's report to the trn$t of The Trust For Slr Nell and Ladles Sheila and Elizabeth Thorne Limited ('the Companv.) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st July 2024. Responslbllltles and basls of report As the charity's trustees of the Company {and also its d1ctorS for the purposes of company law) you are responsible for the preparation of the accou,its in accordan with the requirements of the Companies Att 2006 I'the 2006 Act,). Having satisfied myself that the accounts of the Company are not required to be auéited under Part 16 of the 2006 Act and a eligible for independent examination, I report in pect of my examination of your charity's accounts as carried out under Section 145 of the Charities Art 2011 {'the 2011 Art'l. In carrying out my examination I have followed the Directions given by the Charity Commission under Sertion 145{51 Ibl of the 2011 Act. Independent examlner's statement I have completed my examination. I confirni that no matters have come to my attention in connectiDn with the examination giving me cause to believe: accounting records were not kept in respect of the Company as requiral by Section 386 of the 2006 Act,. or the accounts do not accord with those records. or the accounts do not comply with the accounti.ng requirements of Settion 396 of the 2006 Art 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; or the accounts have not been ppared in accordance with the methods and principles c>f the Statement of Recommended Prartice for accounting and reporting by charities {applicable to charities preparing their account5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021). I have no concerns and have come across no other rnatters in connection with the exarnination to which attention should be dTrwn in this report in Order to enable a proper unlerstanding of the accounts to be reached. David Belbin Clemence Hoar Cummings Chartereé Accountants Riverside HE>use L-5 Como Street Romford Essex RM7 7DN 12th April 2025 Page 3
THE TRUST FOR SIR NEIL AND LADIES SHEILA AND ELIZABETH THOR14E LIMITED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST JVLY 2024 2024 Unrestricted fund 2023 Total funds Notes INCOME AND ENDOWMENTS FROM Investment income EXPENDITURe ON Raising funds 4,903 3,874 Charitable actlvitles Grant5 to Institutions 24,558 21,214 Other Total 152 Net galnsl(losses} on investments 105 115 16 6571 NET INCOMEI(EXPENDThURE) 109,244 19,4851 RECONCILIATION OF FUNDS Total funds brouglit forward 1,260,326 1,269,811 TOTAL FUNDS CARRIED FORWARD 1 369 570 1 260 326 The notes fom) part of these financial stateMts Page 4
THE TRUST FOR SIR NEIL AND LADIES SHEILA AND EUZABETH THORNE LIMITED (REGISTERED NUMBER: 11449025) BALANCE SHEET 31ST JULY 2024 2024 Unrestricted fund 2023 Total funds Notes FIXED ASSETS Irnvestments Investments Investment property 825,574 400 000 1,225,574 747,016 400 000 1,147,016 io CURRENT ASSETS Cash at bank 145.538 114,510 CREDITORS Amounts falling due within one year li (1,542) 11,2001 NET CURRENT ASS5 143 996 113 310 TOTAL AsseTS LESS CURRENT LIABILITIES 1.369,570 1,260,326 NET ASSETS FUNDS Unrestricted funds TOTAL FUNDS 1 369 570 1 260 326 12 1 369 570 1 369 570 1 260 326 1 260 326 The charitable cornpany is entitled to exemption frorn audit under Section 477 of the CoThpanies Art 2006 for the year ended 31st July 2024. The members have not required the compèrhy to obtain an audit of its firhancial staternents for the year ended 31st July 2024 in accordance with Section 476 of the Companie5 Act 2006. The trustees acknowledge their ponsIbIlitieS for lal ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and preparing financial statements which give a true and fair view of the state of affairs of the charitable company a5 at the en(J of each financi41 year and of It5 5tJrplus or deficit for each financial year in accordance with the requirements gf Settions 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. (bl The notes fom) part of these financial stateMts Page 5 continued...
THE TRUST FOR SIR NEIL AND LADIES SHEILA AND EUZABETH THORNE LIMITED (REGISTERED NUMBER: 11449025) BALANCE SHEET- continued 31ST JULY 2024 These financial statements have been pre>ad in accordance with the provisions applicable to charitable companies subjett to the small companies wime. The financial statements were approved by the Board of Trustees and auth0ri5ed for issue on 12th April 2025 and were signed on its behalf by.. N Thorne - Trustee The notes fom) part of these financial stateMts Page 6
THE TRUST FOR SIR NEIL AND LADIES SHEILA AND ELIZABETH THOR14E LIMITED CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST JULY 2024 2024 2023 Notes Cash flows frorn operating activities Cash generated from operations Net cash provided by operating activities Cash flows from investing activities Purchase of fixed asset investrllents Sale of fixed asset investrnents Interest received Net cash provided byllused inl investing activities (22.407) 45,555 185 (60,0541 10,386 236 49 432) Change In cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash in cash and cash equivalents due to exchange rate movements Cash and cash equivalents at the end of the reporting period 27,619 (42,4961 114,510 155,363 145 538 114 510 The notes fom) part of these financial stateMts Page 7
THE TRUST FOR SIR NEIL AND LADIES SHEILA AND ELIZABETH THOR14E LIMITED NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST JVLY 2024 RECONCILIATION OF INCOME/(EXPENDThURE) TO CASH FLOW FROM OPERATING ACtIvtrIES 2024 2023 Net in¢omel{expenditure) for the reporting period (as per the Statement of Financial Activities) Adjustments for: (Gain}/losses on investments Interest received Increase in creditors Net cash provided by operatlons 109,244 (9,4851 (105.115) (185) 342 16,657 12361 ANALYSIS OF CHANGES IN NET FUNDS At 1.8.23 Cash flow At 31.7.24 Net cash Cash at bank 114 510 114 510 114 510 145 538 145 538 145 538 Total The notes fom) part of these financial stateMts Page 8
THE TRUST FOR SIR NEIL AND LADIES SHEILA AND ELIZABETH THOR14E LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JVLY 2024 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accr)rdance with the Charities SORP (FRS 1021 'Accounting and Reporting by Charities= statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicat.le in the UK and Repub Ic of Ireland IFRS 1021 (effective l January 20191., Financial Reporting Standard 102 The Finaicial Reporting Star)dard applicable in the UK and Republic of Ireland. and the Companies Act 2,J06. The financial statements have been prepared under the historical cost convention, with the exception of investments which are includeé at market value, as modified by the revaluation of certain assets. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income V¢ill be received and the amount can be measured reliably. Expendlture Liabilities are COgnised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transler of economic benefits will be required in settlement and the amount of the obligation can be measurec reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to artivities on a basis consistent with the use of resources. Grants offered subjert to conditions which have not been met at the year end date are noted as commitment but not accrued as expenditure. Investment property Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Artivities. Taxatlon The charity is exernpt frorn corporaiion tax on it5 charitable activttie5. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restrirted funds can only be used for particular restricted purposes within the objects of the charity. Restrirtions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes tD the financial statements. INVESTMENT INCOME 2024 2023 Rents received Portfolio Investrnent income Curr asget inv income 18,300 ls.ios 185 18,000 14,176 236 Page 9 continued...
THE TRUST FOR SIR NEIL AND LADIES SHEILA AND ELIZABETH THOR14E LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST JULY 2024 RAISING FUNDS Raising donations and legacies 2024 2023 Support costs 71 68 other trading activities 2024 2023 Property Repairs Insurance of Property 276 957 288 288 Investment management costs 2024 2023 Portfolio management 599 Aggregate amounts CHARITABLE ACTIVITIES COSTS Grant funding of activities {see note Support Costs Isee note 6) 5) Totals Grants to Institutions GRANTS PAYABLE 2024 2023 Grants to Institutlons Page 10 continued...
THE TRUST FOR SIR NEIL AND LADIES SHEILA AND ELIZABETH THOR14E LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST JULY 2024 SUPPORT Co5 Govemance costs Finance Totals Raising donations and legacies Grants to Institutions 71 71 71 TRUSTEES, REMUNERATION AND BENEFrrs There were no trustees. remuneration or other benefits for the year ended 31st July 2024 nor for the year ended 31st July 2023. Tru5tee5' expenses There were no trustees, expenses paid for the year ended 31st July 2024 nor for the year ended 31st July 2023. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTlVtTIES Unrestricted fund INCOME AND ENDOWMENTS FROM Investment income EXPENDITURE ON Raising funds 3,874 Charitable activities Grants to Institutions 21,214 Other Total 152 Net gainslllossesl on investments 16 6571 NET INCOME/{EXPENDITURE) 19,4851 RECONCILIATION OF FUNDS Total funds brought forward 1,269,811 TOTAL FUNDS CARRIED FORWARD 1 260 326 Page 11 continued...
THE TRUST FOR SIR NEIL AND LADIES SHEILA AND ELIZABETH THOR14E LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST JULY 2024 FIXED ASSET INvEmENTs Listed Investments MARKET VALUE At 1st August 2023 Additions Disposals Revaluations At 31st July 2024 NET BOOK VALUE At 31st July 2024 At 31st July 2023 747,016 22.407 (54,2741 110 425 825 574 825 574 747 016 The investment portfolio 15 managed by Chartes Stanley stockbrokers based in the UK. Within the portfolio held at 31 July 2023 of £747,016 (2022 - £715,648) are assets which are held in Dverseas companies and investment funds which totalled £103,849 (2022 £90,030) Cost or valuation at 31st July 2024 is represerted by- Liste(I Investments Valuation in 2020 Valuation in 2021 Valuation in 2022 Valuation in 2023 Valuativn in 2024 Cost 31,031 160,711 (94,662} (16,634) 78,558 666 570 10. INVESTMEIIT PROPERTY FAIR VALUE At 1st August 2023 and 31stJuly 2024 NET BOOK VALUE At 31st July 2024 At 31st July 2023 400 000 400 000 Page 12 continued...
THE TRUST FOR SIR NEIL AND LADIES SHEILA AND ELIZABETH THOR14E LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST JULY 2024 CREDITORS: AMOUNTS FALLING DUE wfTriIN of4E YEAR 2024 2023 Accrued expenses 12. MOVEMENT IN FUNDS Net rnovement in funds At 31.7.24 At 1.8.23 Unrestricted funds General fund 1.260.326 109,244 1,369,570 TOTAL FUNDS 1 260 326 109 244 1 369 570 Net movement in funds, included in the above are as follows: Incorning resources Resources expended Gain5 losses Moverllent in funds Unrestricted funds General fund 33,S90 (29,461) 105,115 109,244 TOTAL FUNDS 29 461) 105 115 Comparatives for movement in funds Net movement in funds At 31.7.23 At 1.8.22 Unrestricted funds General fund 1.269.811 (9,485} 1,260,326 TOTAL FUNDS 1 269 811 1 260 326 Comparative net movement in funds, included in the atKJve are as follows- Incoming resources Resources expended Gains and losses Movement in funds Unrestricted funds General fund 32.412 {25,240) {16,657) 19,485) TOTAL FUNDS 25 240) 16 657) Page 13 continued...
THE TRUST FOR SIR NEIL AND LADIES SHEILA AND ELIZABETH THOR14E LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST JULY 2024 12. MOVEMENT IN FUNDS- continued A current year 12 months and prior year 12 months combined position is as follows: Net movement in funds At 31.7.24 At 1.8.22 Unrestrlcted funds General fund 1.269.811 99,759 1,369,570 TOTAL FUNDS 126981 1 369 570 A current year 12 months and prior year 12 months combined net movement in funds, included In the above are as follows- Incoming resources Resources expended Gains and losses Movement in funds Unrestrirted funds General fund 66.002 {54.701) 88,458 99,759 TOTAL FUNDS 54 701) 13. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31st July 2024. Page 14
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