REGISTERED COMPANY NUMBER: 11449025 (England and Wales) REGISTERED CHARXTY NUMBER: 1183615 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENYS FOR THE YEAR ENDED 31ST JULY 2025 FOR THE TRiIST FOR SIR NEIL AND LADIES SHEILA AND ELIZABETH THORNE LIMITED Clemence Hoar Cummlngs Charted Accountants Riverside House 1-5 Como Street Romford Essex RM7 7DN
THE TRUST FOR SXR NEIL AND LADIES SHEILA AND ELIZABETH THORNE LIMITED CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31STJULY 2025 Pa9e Report of the Trustee$ Independent Examiner's Report Statement c•f Financial Activitles Balance Sheet Cash Flow Statement Notes to the Cash Flow Statement Notes to the Financial Statements 8 to 13 Detailed Statement of Financial Activtties 14
THE TRUST FOR SIR NEIL AND LADIES SHEILA AND ELIZABETH THORNE LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST JULY 2025 The trustees who a also dlrectors of the charlty for the purposes of the c.ompanies Act 2006, present thelr report wlth the flnanclal statements of the charlty for the year ended 31st July 2025, The trustees have adopted the provlslons of Accounting and Reportlng by Charities.. Statement of Recommended Pra¢tlce appllcable to charlties preparlng thelr accounts In eccordance wlth the Flnanclal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l JarEuary 2019}. OBJECTIVES AND ACTXVXTXES Objectives arsd aFrnS The purpose5 of the trusl are to support edL5catlonal pmjects, relief of slckness and promotlon of good phystcal and mental wellbeing, the promotion of religious harmony between faiths through educatlon and the preservation and conservation Df hlstoric buildings and mc>numents and hlstorlcal records and archives and education of the public in the bulldlngs, memorials and related events. Significant activities During the the year the trust re]Ved in from the Executor5 of Lady Elizabeth Thorne a portfolio ¥vhich Is administer'ed by Charles Stanley and will provide incotne in the future to fund the charltable activltles of the Trust. The executors of the estate also further donations into the trust of incotrEe received durlng admlnlslratlon. The charity has been able to make a number of grants to charitable illstitutions.. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governlng document, 3 deed of trtjst, and constitutes a Ilmlted company, limlted by guarantee, a5 defined by the Companie5 Act 2006. Rtsk management The trustees have a duty to Identlfy and revlew the rlsks to whlch the charity Is exposed and to ensure approprlate controls are In place to provide reasonable assurance against fraud and error. REFERENCE AND ADMINXSTRATIVE DETAILS Registered Company number 11449025 (England and Wales) Registered Charity number 1183615 Registered office CIO Virtual Corllpany Secretary Limited 7 York Road Woklng Surrey GU22 7XH Trustees S Thorne Parllamentary Advisor N Thorne Parliamentary Consultant A Montlake Solicitor S J Sanders Business Development Director Company Secretary ARM Secretarie5 Limlted Page I
THE TRUST FOR SXR NEIL AND LADIES SHEILA AND ELIZABETH THORNE LIMITED (REGISTERED NUMBER: 11449025) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31STJULY 2025 REFERÈNCE AND ADMINISTRATIVE DETAILS Jndependent Examlner Davld Belbln Clemence Huar cu[Tlg$ Chartered Accountants Rlverslde House 1-5 Como Street Romford E55ex RM7 70N Approved by order of the board of trustees on 24th Aprll 2026 and sl¥ned or> Its behalf by,. N Thome - Trustee Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE TRUST FOR SIR NEIL AND LADIES SHEIiA AND ELIZABETH THORNE LIMITED Independent examiner's report to the trustees of The Trust For Sir Neil and Lodies Sheila and Elizabeth Thorne Limited ('the Company,) I report to the charlly trustees on my examination of the accounts of the Company for the year ended 31st July 2025. Respon5Èbilitie5 and basis of report As the charity's trustees of tho Company land also its dlrertors for the purposes of company law) you are responslble for the Preparation of the accounts in accordance with the requlrements of the Companles Act 20061'the 2006 Act'l. Having satisfied myself that the accounts of the Company are not qUired to be audited under Part 16 of the 2006 Act and are eligible for independent examlnation, I report in respect of my examlnation of your harily's accounts as carrled out under Sectlon 145 or the Charities Act 2Qll I'the 2011 ALt'). In carrylng out my cxamlnation I have followed the Directlons given by the Charity Commi£slon under Sectio 145151 (b) of the 2011 Act. Independent examiner's statement I have completed my examlnatlon. I confirm that no matters have come to my attention in connectlon wlth the examination giving me cause to belleve.. accounting records wefft not kept Én respert of the Company as requlred by Sectio>n 386 of the 2006 Act; or the accounts do not accord with those records,. or the accounts do not comply wlth the accouF)ting requlrements of Section 396 of the 2006 Att Other than any requirenient that the account5 give è true and fair view which is not a matter consldered as part of an independent examlnatlon. or the accounts hève not been prepared Trn accordan wlth the methods and prlnciples of the statement of Recommended Practice for accounting and reporting by charlties (applicable to charitie5 preparing their accounts in accordan wlth the Flnancial Reportlng Standard applkable in the UK and Republic of Ireland IFRS 10211. I have no conTrrns and have come across no other matters In connection with the examination to whlch attentlon should be drawn in this report in order to enable a proper understandlng of the accounts to be reached, David Belbin Clemence Hoar Cummlngs Cliartered Accountants Riverside House 1-5 Como Street Romford Essex RM7 7DN 24th Aprll 2C126 Page 3
THE TRUST FOR SIR NEfL AND LADIES SHEILA AND ELIZABETH THORNE LIMITED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31STJULY 2025 2025 Unrestricted fund 2024 Total funds Notes INCOME AND ENDOWMENTS FROM Investment income 33,210 33,590 EXPENDITURE ON Raislng funds 5,322 4,903 Char5table activitles Grants to Instibtstions 11,445 24,558 Total 16,767 29,461 Net galns on investments 61,749 105,115 NET INCOME 78,192 109,244 RECONCILIATION OF FUNDS Totsl funds brought forward 1.369,570 1,260,326 TOTAL FUNDS CARRIED FORWARD 1,447,762 1,369,570 The notes fomi part of these financial statements Page 4
THE TRUST FOR SIR NEIL AND LADies SHEILA AND EUZABETH THORNE LfMThED {REQISTERED NUMBER.. 11449025) BALANCE SHEET 31STJULY 2025 2025 VTrrestrEcted fund 2024 Total runds Notes FIXED ASSETS Investm¢nts Investments Investment property 858,999 400,000 825,574 400,000 io &258,999 1,225,574 CURRENT ASSETS Cash at bank 190,947 145,538 CREDrroRS Amounts falllng due wlthlfi one year li (2,184) (1,542) NET CURRENT ASSETS 188,763 143,996 TOTAL ASSETS LESS CURRENT LEABIUTIES 1,447,762 1,369,570 NET ASSETS 1,447.762 1,369,570 FUNDS Unre5trlrted fvnds 12 1.447.762 1,369,570 TOTAL FUNDS 1,447,762 1,369,570 The charltable company Is entltled to exemptlon from audlt under Secilon 477 of the Cgmpanles Att 2006 for the year ended 31st July 2025. The members have not requlred thè company to obtaln )n audlt of Its finandal statements for the year ended 31st July 2025 In aOrdan wlth Sectlon 476 of the Companie5 Att 2006. The tru5tee5 acknowledge thelr re5ponslbllltles for {a) ensurlng that the charltable company keeps accountlng records that comply wlth Sectlon5 386 and 387 of the Companles Act 2006 and Ib) prepèrfng flnanclal statements whlch glve a true and falr vlew of the state of affa1 of the charitsble company as at the end of oèth financlal year and of Its surplus or deflclt for ea¢h flnanclèl year In atcordance wlth the requlrements of SettloNs 394 and 395 and whlch otherwlse compty wlth the requlrements of the Companles Act 2006 relatlng to flnandal statements, so far as appllcable to the charftable company, These flnanclal statements have been prepared In accordance wlth the provlslons appllcable to charftabEe companles subject to the small cornpanles re9lme, The flnan¢lal statements were approved by the Board of Trustee5 and authorfsed for Issue on 24th Aprll 202S and were slgned on Its behalf by.. N Thome- Twstee The notes form part of these flnanclal Statements Page 5
THE TRUST FOR SIR NEIL AND LADIES SHEILA AND ELIZABETH THORNE LIMITED CASH FLOW STATEMENT FOR THE YEAR ENDED 315TJULY 2025 2025 2024 Notes Cash flows from operating activ5ties Cash generated from operations 14,658 4,286 Net cash provided by operatlng activlties 14,658 4,286 Cash flows from investln9 activStles Purchase of fixed asset Investments Sale of fixed asset Investments Intcrost received (65,540) 96,089 202 (22,407) 45,555 185 Net cash provlded by investing activities 30,751 23,333 Change in cash and cash tqulvalents in the reporting period Cash and cash equivalents at the beginning of the reporting period 45,409 27,619 145,538 114,510 Cash and cash equlvalents atthe end of the reporting period 190,947 145,538 The notes fomi part of these financial statements Page 6
THE TRUST FOR SIR NEIL AND LADIES SHEILA AND ELIZABETH THORNE UMXTED NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST JULY 2025 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVXTXES 2025 2024 Net income for the reporting period (as per the Statement of Financial Activitles) AdSustmènts for: Galn on Investments Interest CeIved Prevlou51y unrealised gains crystallised Increase In credltors 78,192 109,244 {61,749) (202) (2,225) 642 (105,IL51 11851 342 Net cash provided by operations 14,658 4,286 ANALYSIS OF CHANGES IN NET FUNDS At 1.6.24 Cash flow At 31.7,25 Net cash Cash at bank 145,538 45,409 190,947 145,538 45,409 190,947 Total 145,538 45,409 190,947 The notes form part of these financial statements Page 7
THE TRUST FOR SXR NEXL AND LADIES SHEILA AND ELIZABETH THORNE LIMITED NOTES TO THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 31ST JULY 2025 ACCOUNTING POLICIES Basis of preparing the financial statements The financial staternents of the charÉtable company, which is a public beneflt entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 102) 'Accounting and Reporting by Charitles.. Statement of Recommended Practlce appllcable to charllles prepar¢ng their aCCOLtnts In accordance with the Ffjnanclal Reportlng Standard applicable In the UK and Republic of Ireland (FRS 102) (effective l January 2019),, Financial Reportin9 Standard t02 'The Financial Reporting Standard appllcable in the UK and Republlc of Ireland, and the Companles Act 2006. The flnanclal statements have been prepared under the historical cost conventlDn, with the exceptio[5 of Investments which are Included at market value, as modified by the revaluation of certain assets. Income All Income is recognised in the Statement of Flnanclal Actlvltles once the charily has entitlement to the funds, It Is probable that the Income W11 be reiVed and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as sotsn as there is a legal or constructlve obligatlon committlng the charlty to that expenditure, It Is probable that a transfer of economic benefit5 wlll be iequired in settlement and the amount of the obligation can be measured rellably. Expendlture is accounted for on an accrua15 basls and ha5 been classified Ljnder headlngs thèt aggregate all cost related to the category. Where costs cannot be directly attributed to partlcular headlngs they have been allocated to activities on a basis consistent with the use of resourtrs. Grants offered subject to conditions which have not been met at the year end date are noted as a tommltment but not accrued as expenditure. Investment propertv Investment property is shown at most recent valuation. Any aggregate Surplus or deflcit arlslng from changes in fair value is recognised in the Statement OF Financial Activities. Taxation The charity Is exempt from corporation tax on Its charttable actlvitles, Fund accounting Unrestrfcted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restrlrted funds can only be used for partlcular restrlcted purposes within the objects of the chèrlty. Restrictions arise when specified by the donor or when funds are ralsed for particular restricted purposes. Further explanation of the nature and purpose of each fund is Included In the note5 to the financial Statements. INVESTMENT INCOME 2025 2024 Rents received Portfolio Investment income Curr asset Inv Income 18,600 14,408 202 18,300 15, 105 185 33,210 33,590 Page 8 contlnued.,.
THE TRUST FOR SIR NEIL AND LADIES SHEILA AND ELXZABEfH THORNE LIMITED NOTES TO THE FINANCIALSTATEMENTS- continued FOR THE YEAR ENDED 31ST JULY 2025 RAISING FUNDS Raising donations and legacie5 2025 2024 Support Costs 66 71 Other trading activities 2025 2024 Property Repalrs Insurance of Property 770 737 276 957 1,507 1,233 Investment management C05t5 2025 2024 Portfollo management 3,749 3,599 Aggregate amounts 5,322 4,903 CHARxfABLE ACTIVITIES COSTS Grant funding of activltles Isee note Support costs (see note 6} 5) Totals Grants to Institutions 7,017 4,428 11,445 GRANTS PAYABLE 2025 2024 Grants to Institutions 7,017 22,250 Page 9 continued..,
THE TRUST FOR SIR NEIL AND LADIES SHEILA AND ELIZABETH THORNE LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31ST JULY 2025 SUPPORT COSTS Governance costs Management Flnan Totals Ralsing donations and legacles Grants to Institutions 66 66 4,428 2,312 2,116 2,312 66 2,116 4,494 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneratlon or other beneftts For the year ended 31st July 2025 nor for the year ended 31st July 2024. Twstees, expen$e$ There were no trustees. expen5e5 pald for the year ended 31st Juty 2025 nor for the year ended 31st July 2024. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTXVITIES VnrestrScted fund INCOME AND ENDOWMENTS FROM Investment income 33,590 EXPENDITURE ON Ralslng funds 4,903 Charitable activities Grants to Institutions 24,558 Total 29,461 hlet galns on Investments 105,115 NET XNCOME 109,244 RECONCILIATION OF FUNDS Total fvnd5 brought forward 1,260,326 TOTAL FUNDS CARRIED FORWARD 1,3S9,570 Page 10 contlnued..
THE TRUST FOR SIR NEILAND LADIES SHEILA AND ELIZABETH THORNE LIMITED NOTES TO YHE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST JULY 2025 FIXED ASSET INVESTMENTS Llsted investments MARKEf VALUE At 1st August 2024 Addition5 Disposals Revaluations 825,574 65,540 (101.618} 69,503 At 3lst July 2025 858,999 NET BOOK VALUE At 31st July 2025 858,999 At 31st July 2024 825,574 The investment portfolio is managed by Charle5 Stanley stockbroker5 based In the UK. Withln the portfollo held at 31 July 2025 of £858,999 12024 £825,574) are a55ets whlch are held In oversetss ¢omp3nles and Investment funds which totalled £160,015 12024 £153,164) Cost or valuation at 31st July 2025 É5 represented by.. Listed Investments Valuation In 2020 Valuation IN 2021 Valuation in 2022 Valuation in 2023 Valuatioll in 2024 Valuatlon In 2025 Cost 31,031 160,711 (94,662) (16,634) 78,558 33,245 666,750 8S8,999 10. JNVESTMENT PROPERTY FAIR VALUE At 1st August 2024 and 31st July 2025 400,000 NET BOOK VALUE At 31st July 2025 400,000 At 31st July 2024 400,000 Page 11 ctsntlnued...
THE TRUST FOR SXR NEIL AND LADIES SHEILA AND ELJZABETH THORNE LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31ST JULY 2025 11. CREDIfoKS: AMOUNTS FALLXNG DUE WXTHIN ONE YEAR 2025 2D24 Other credltors Accrued expenses 564 1,620 1,542 2,184 1,542 12. MOVEMENT IN FUNDS Net movement In funds At 31.7.25 At 1.8.24 Unrestricted funds General fund 1,369,570 78,192 1,447,762 TOTAL FUNDS 1,369,570 78,192 1,447,762 Net movement in funds, included in the above are as follow5- Incoming re50urces Resources exp2ncfed Galns and 105ses Movement in funds Unrestricted funds General fund 33,210 {16,767) 61,749 78,Ig2 TOTAL FUNDS 33,210 (16,767) 61,749 78,192 Comparatives for movement funds et movement n funds At 31.7.24 At 1.8.23 Unrestrictod funds General fund 1,260,326 109,244 1,369,570 TOTAL FUNDS 1,26Q,326 109,244 1,369,570 Comparative net movement in fvnds, included In the above are as follows.. Incoming re50urce5 Resources expended Gain5 and losses Movetnent in fund5 Unrestricted funds General fund 33,590 (29,4611 105,115 109,244 TOYAL FUNDS 33,590 (29,4611 105,115 109,244 Page 12 continued...
THE TRUST FOR SIR NEIL AND LADIES SHEILA AND ELIZABETH THORNE LIMITED NOTES TO THE FINANCtAL STATEMENTS - contlnued FOR THE YEAR ENDED 31STJULY 2025 12. MOVEMENT IN FUNDS- contlnued A current year 12 months and prior year 12 mtsnths wmblned posltlon Is as follows.. Net movement In funds At 31.7.25 At 1.8.23 Unrestricted funds Gen&ral fund 1,260,326 187,436 1,447,762 TOTAL FUNDS 1,260,326 187,436 1,447,762 A current year 12 months and prior year 12 months combined net movement in funds, Included in the above are as follows.. Incoming reSoUrS Resources expended Gains and losses Movement in funds Unrestricted fund$ General fund 66,800 146,228) 166,864 187,436 TOTAL FUNDS 66,800 {46,2281 166,864 187,436 13. RELATED PARTY DXSCLOSURES At the Balance sheet date the Trust owed £563.91 to a company owned by Slr Neil Thorne, trustee, En respect of tnonies ith relation to the malntenance tsf the Investment property. 12024 Page 13
THE TRUST FOR SIR NEEL AND LADIES SHEILA AND ELIZABETH THORNE LIMETED DETAILED STATEMENT OF FENANCIAL ACTIVITIES FOR THE YEAR ENDED 31STJULY 2025 2025 2024 INCOME AND ENDOWMENTS Investment income Rents reTrived Portfolio Investment income Curr asset Inv income 18,600 14,408 202 18,300 15,105 185 33,210 33,590 Total Incomlng resources 33,210 33,590 EXPENDITURE Other trading activities Property Repairs Ensuran¢e of Property 770 737 276 957 1,507 1,233 Xnvestment management costs Portfollo management 3,749 3,599 Charitable activltle5 Grants to institutlons 7,017 22,250 Support costs Managemerst Ground Renl Service Charge 822 1,490 2,312 Finance Bank charge5 66 71 Governance costs Accountancy and legal fee5 116 2,308 Total resources expended 16,767 29,461 Net Irscome before gains and lossès 16,443 4,129 Reallsed recognlsed gains and losses Reali5ed gain5/llossesl ON frAed asset Envestments (5,529) 18,719) Net income/(expenditure) 10,914 14,590) Thls page does not fDrtn part of the statutory financSal statements Page 14