Thatcham Memorial Foundation
ANNUAL REPORT 2024 – 2025
To include statement of accounts year ending 31[st] March 2025
A Charitable Incorporated Organisation Registered Charity Number: 1187212
Officers of the Foundation
Chairman: Mr Nathan Gregory Vice Chairman: Mr Nick Cornish Honorary Treasurer: Cllr Iain Cottingham [until 22.08.2025] Ms Alli Pritchard [from 15.09.2025]
Board of Trustees
Community Trustees: Mrs Sandra Bailey Re – Elected: 23.09.2021 Mr Nick Cornish Re – Elected: 23.09.2021 Mrs Jan Cover Re – Elected: 23.09.2021 Mr Mike Farmer Re – Elected: 23.09.2021 Mr Nathan Gregory Re – Elected: 23.09.2021 Mr Richard Crumly Elected: 23.09.2021
Nominated Trustees: Ms Alli Pritchard 2[nd] Thatcham Scout Group Mr Alan Rivers Thatcham Bowling Club [resignation 13.08.2025] Mr Ian Borland BEM Thatcham Royal British Legion Mr Mike Brook Thatcham Tennis Club Cllr Mike Cole Thatcham Town Council Cllr Iain Cottingham West Berkshire Council
Registered Office
Thatcham Memorial Hall Brownsfield Bath Road Thatcham Berkshire RG18 3AG
Foundation Staff
General Manager: Externally Contracted Service [ended 30.06.2025]
Site Administrator: Agency Appointee [ended 10.07.2025]
Finance Officer:
Agency Appointee
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Thatcham Memorial Foundation, Annual Report 2024 – 2025
Bankers & Professional Advisers
Bankers: Metro Bank PLC 64 & 65, Northbrook Street Newbury Berkshire RG14 1AE Charities Aid Foundation c/o Shawbrook Bank Ltd 9, Appold Street London EC2A 2AP
Investment Manager: BlackRock Investment Management (UK) Ltd 12, Throgmorton Avenue London EC2N 2DL Independent Examiner: Heslops Chartered Accountants 1, High Street Thatcham Berkshire RG19 3JG
Solicitor: Gardner Leader LLP P Winbolt House The Broadway Thatcham Berkshire RG19 3HX Irwin Mitchell Oxford House 12 – 20 Oxford Street Newbury RG14 1JB
Surveyor:[Haslams Surveyors LLP ] Country House 17, Friar Street Reading Berkshire RG1 1DB
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Thatcham Memorial Foundation, Annual Report 2024 – 2025
Land Agent:[Carter Jonas ] 9a Jewry Street Winchester Hampshire SO23 8RZ
Insurers & Broker:[MacBeth Insurance Brokers ]
Three Waterside Drive Arlington Business Park Theale Reading RG7 4SW
Ansvar Insurance Ansvar House 31, St Leonards Road Eastbourne East Sussex EN21 3UR
Aviva Wellington Row York North Yorkshire YO90 1WR
Health & Safety:[Peninsular Group Ltd ] Victoria Place Manchester M4 4FB
Human Resources:[Safe HR ]
Citrus House 119 – 121 High Street Street Somerset BA16 0EQ
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Thatcham Memorial Foundation, Annual Report 2024 – 2025
Constitution
Thatcham Memorial Foundation is a Charitable Incorporated Organisation, registered Charity no. 1187212. The current charity and its constitution was sealed by the Commission on January 9[th] 2020. The organisation has existed in one guise or another since 1946, with the charity fulfilling its objectives when the land holdings were officially transferred on 19[th] February 1947. The Foundation’s governing document is written in respect of the Trust Deed dated 15[th] July 1948; this outlines the public subscription that acquired the land, purposes for which it should be used and the compliment of the original Committee of Management . Today the charity is managed by the Board of Trustees and its staff in accordance with its governing document whilst operating within the 2011 Charities Act (amended 2022) and observing the requirements and guidance of the Charity Commission as regulator.
Charitable Aims & Public Benefit
Outlined in section 3 of the constitution “The object of the charity shall be to provide or assist in the provision of facilities to include a village hall and playing fields for the inhabitants of the Parish of Thatcham and the neighbourhood thereof, for recreation and other leisure-time occupation in the interests of social welfare.” As a Foundation and not a membership-based organisation, the Charity does not have individual beneficiaries, rather the inhabitants within an area of benefit. The Area of Benefit has always been the Parish of Thatcham and surrounding areas, recently defined by the Seal of the Charity Commission as the Parishes of Thatcham, Ashford Hill with Headley, Brimpton, Bucklebury, Chieveley, Cold Ash, Frilsham, Greenham, Hampstead Norreys, Hermitage, Midgham and Yattendon encompassing approximately 40,000 individuals.
Selection of Trustees
The Board of Trustees is comprised of 12 members. Six nominated Trustees appointed by organisations and are referred to as the Site Partners . Six Community Trustees are appointed by the Board of Trustees from candidates drawn for the local community. A poll of attendees at the Annual Public Meeting informs the appointment of community trustees appointed to serve a 4 year term on the Board, experience, skill set and individual merits are also constitutional considerations. Should vacancies for community trustees arise the Board will advertise and interview suitable candidate before appointment to the Board of Trustees.
Governance Arrangements
The Board of Trustees meets throughout the year. The Board is responsible for ensuring all statutory requirements are met by the charity as well as providing financial oversight and setting out the Foundation’s strategic direction. A set of smaller committees and task and finish groups are established through standing orders to oversee specific areas. The Foundation presently has six committees; Operations Committee; Finance Committee; Staff Committee; Events & Fundraising Committee; Open Space Committee; War Memorial Committee.
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Thatcham Memorial Foundation, Annual Report 2024 – 2025
Report on the Foundation’s Activities
This report covers the period from September 2024 through to September 2025. The past 12 months have been dominated by the impact of the Central Thatcham Flood Alleviation Scheme [FAS]. No other Strategic Priorities were agreed for the year.
Trustees expected this to be a challenging time, but the reality has been all consuming for staff and volunteers alike. The building of the defences, planned to be completed in November 2024, was delayed until February 2025. The trustees share the concerns and frustrations of the public regarding the lack of action in the following six months. Officers from West Berkshire Council visited the site on 7[th] August to inspect works and review actions required to bring to the site back up to standard; the Foundation still awaits completion of many of these actions. Ultimately completion of the ancillary landscaping and snagging are the responsibility of West Berkshire Council; the Foundation can only ask questions and pursue concerns, not instruct work.
The Foundation is due in-year compensation for the loss of income because of the FAS. This includes the reimbursement of costs for staff time dedicated to this project; this can now be processed following receipt of the audited accounts. Heads of Terms for the transfer of land subject to compensation continue to be negotiated and the Trustees have engaged both solicitors and surveyors to assist in these matters. The cost of these professional advisers is borne by West Berkshire Council under the compensation code . Further details cannot be supplied at this time due to their commercial sensitivity.
We acknowledge and share the frustrations of tennis players over the time taken to re-open the courts; the works to restore the courts were under the direction of West Berkshire Council, its agents and contractors. Regrettably the work to resurface the courts led to complications with the electricity supply for the coded gate entry; despite assurances a WBC contractor would attend the site in early August the courts were still not operational. At the Operations committee of August 27[th ] the Foundation chose to engage its own contractor; after completing the works on September 22[nd] the booking system was reopened on Friday 26[th] September. We will now pursue a claim to recuperate the costs.
The increase in public and press interest in the site, along with the demands of the Flood Alleviation Scheme works, necessitated an increase in staff capacity. The administrator post remained an agency appointment throughout the year rather than seasonably as before. A General Manager was recruited in September 2024 with a start date delayed due to a personal injury, ultimately requiring the individual to withdraw before starting. A further round in early 2025 with a professional recruitment agency yielded no candidates with the recommendation that a salary be increased to attract candidates. Recruitment planned for June/July has been deferred until the new Board are in place.
Sufficient funds have been raised in recent years to enable further works to be done to the War Memorial and wider garden. This includes professional cleaning of the memorial by specialist stonemason and the pressure washing of the surrounding paving and walls.
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Thatcham Memorial Foundation, Annual Report 2024 – 2025
This year we have also taken on the responsibility of providing refreshments for key ceremonial occasions from Thatcham Town Council, this year hosting VE – Day 80, VJ-Day 80 and will again be hosting veterans and the public attending Armistice Day on Tuesday 11[th] November. Our thanks go to the volunteers who bake for these occasions and help with set up and washing up, and to No More Nettles and the volunteers who tend to the memorial garden, including watering in the heights of summer! Regrettably, no War Memorial quiz was organised this year.
Despite the challenges, we have always tried to see the FAS as an opportunity; an opportunity to re-address the balance of field use and return organised sport back to the head of the site. The new path layout has also allowed new aesthetic features to be considered. The 2025 anniversary of the end of WWII allowed us to both commemorate a significant event and improve the playing fields. The planting of eight new purple beaches to mark each decade since the end of hostilities was a poignant event in our history. We were pleased to welcome Simon Carter DL, representing HM The King, the High Sheriff of Berkshire, Chairman of West Berkshire Council, Town Mayor of Thatcham, MP for Newbury, Representatives of the Armed Forces, veterans, site partners and local residents to observe this moment and reflect on the human cost of victory. Reflecting on this event Simon Carter DL commented “As we approach the beginning of May and the larger ceremonies to mark the anniversary of the eightieth year since the ending of hostilities, today will stand out as a ceremony of great dignity to remember this milestone moment. I thought the inclusion of the young people from the Kennet School an inspired connection to the future.” As the veterans pass, we hope that future generations will remember as they sit under their shade.
Contract and lease negotiations have continued with the Car Park Operators agreement extended by a further three years and the former Neighbourhood Police Office being renovated and placed on the open market. The Bowling Club lease has been signed, offering the Club security and the ability to seek external grant funding, as well as the 20 year-term expected to generate not less than £100,000 in rent to support the Foundation’s aims, alongside a comprehensive service charge being in place to ensure the Foundation can adequately manage this asset on its estate.
I close with my thanks to the Trustees and our volunteers that help at our event, fundraising activities, and our staff over the last year, without whose time, dedications and support the Foundation would not exist. My thanks go to Jan Cover for her continued efforts with refreshments and events catering. This year I wish to particularly single out three key trustees who are stepping down, the Vice Chairman Nick Cornish after 15 years of service to the Board; Sandra Bailey our former Vice Chairman who has completed 12 years of service, and lastly to Mike Farmer for 8 years’ service in the key areas of Human Resources and Health & Safety. Thank you. Together with my own resignation as Chairman and stepping down from the Board as a trustee, we represent 45 years of service to the Foundation and our community.
N. M. Gregory Esq. Chairman 30[th] September 2025
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Thatcham Memorial Foundation, Annual Report 2024 – 2025
Trustees and Contractor marking the restoration of the War Memorial
Trustees and Town Mayor with Name the Bear competition winners
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Thatcham Memorial Foundation, Annual Report 2024 – 2025
May Classic Car Show winner Brian from Aldermaston with his 1959 Armstrong Sidley Sapphire
VE – Day and VJ – Day Remembrance Events
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Thatcham Memorial Foundation, Annual Report 2024 – 2025
80[th] Anniversary of the End of WWII Tree Planting
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Thatcham Memorial Foundation, Annual Report 2024 – 2025
RECONCILIATION OF ACCOUNTS, TREASURER’S REPORT, AND STATEMENT FOR THE PERIOD 1 APRIL 2024 TO 31 MARCH 2025
| Description | Page |
|---|---|
| Treasurer’s Report | 6 |
| 2024/2025 Expenditure | 7 |
| 2024/2025 Income | 9 |
| Income and Expenditure Summary2024/2025 | 10 |
| Assets and Liabilities 2024/2025 | 10 |
| Overall Balance Sheet 2024/2025 | 11 |
| Portfolio Investments | 12 |
| Notes to the Accounts | 13 |
| Independent Auditors Report | 14 |
Treasurer’s Report
I will start by saying that although I have been on the Finance Committee for some years I have been thrust into the Treasurer’s role after the resignation of Iain Cottingham. His other commitments did not allow him to give the oversight required and my focus has been on making sure we are able to present audited accounts for the Public Meeting; this would not have been possible without the knowledge and time of Nathan Gregory, Nick Cornish and our interim finance officer Luis Robayo. This financial year was always going to be challenging with the effects of the flood alleviation scheme and the decommissioning of some assets. The accounts show a shortfall of £35,800 overall. Year on year our income has dropped by £33,000 which is predominant cause of this shortfall. Major losses have been in the income from the public car park, followed by the hall and field losses. As concerns are addressed over the playing fields and site, we hope that business donations will increase. The Administrator, previously a seasonal role, has been employed for the whole year, resulting in the largest single increase in expenditure by almost £17,000. During the year investment has been made into new IT hardware, new bins and field equipment and nearly £6,000 on improvements to the car parks in line with our capital expenditure programme. Expenditure in the field for grass cutting and bin collections is down on last year due to the reduced area during the FAS works. Tree works expenditure has increased due to the new tree management plan as advised by WBC’s Tree Officer. Despite engaging a professional recruitment agency the Foundation has been unable to source a General Manager and until June 30[th] continued to purchase services from a Trustee under the provisions of Part 9 of the Charities Act 2011 [amended 2022] and Section 6 of the Foundation’s Constitution.
Alli Pritchard
Acting Hon. Treasurer
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Thatcham Memorial Foundation, Annual Report 2024 – 2025
| EXPENDITURE | 2024 | - 2025 | 2023 – | 2024 |
|---|---|---|---|---|
| Main Cat | Sub Cat | Main Cat | Sub Cat | |
| Human Resources | £ 70,002 | £ 55,475 | ||
| Manager | £ 42,300 | £ 36,735 | ||
| Site Administrator | £ 22,208 | £ 5,378 | ||
| Cleaner | £ 4,278 | £ 13,266 | ||
| Professional Advisor | £ 849 | |||
| Recruitment | £ 354 | |||
| Training | £ 12 | |||
| HMRC | £ 96 | |||
| Utilities | £ 6,774 | £ 7,298 | ||
| Electricity | £ 2,697 | £ 2,663 | ||
| Solar Panels 1 | ||||
| Refuse | £ 1,203 | £ 1,928 | ||
| Water | £ 2,874 | £ 2,708 | ||
| Statutory | £ 8,631 | £ 8,911 | ||
| Insurance2 | £ 6,825 | £ 7,305 | ||
| Business Rates | £ 1,806 | £ 1,606 | ||
| Play Fields | £ 10,198 | £ 8,089 | ||
| Grass Cutting | £ 2,010 | £ 3,054 | ||
| General Maintenance | £ 1,122 | £ 809 | ||
| Equipment | £ 2,402 | |||
| DogWaste and Litter Bins | £ 1,384 | £ 2,786 | ||
| Tree Works | £ 3,280 | £ 1,440 | ||
| Children Play Area | £ 1,731 | £ 97,986 | ||
| Equipment | £ 415 | £ 96,834 | ||
| Events 3 | £ 638 | |||
| Maintenance | £ 1,316 | £ 514 | ||
| War Memorial | £ 1,448 | £ 700 | ||
| Maintenance | £ 1,226 | £ 387 | ||
| Equipment | £ 30 | £ 17 | ||
| Gardening& Plants | £ 192 | £ 296 | ||
| Professional Services | £ 1,086 | £ 3,950 | ||
| Auditor | £ 936 | £ 936 | ||
| Architects | £ 960 | |||
| Solicitor | £ 150 | £ 2,054 | ||
| Health & Safety | £ 2,505 | £ 1,512 | ||
| Professional Advisers | £ 1,695 | £ 1,434 | ||
| Fire Safety | £ 290 | |||
| Asbestos Safety | £ 474 | |||
| Equipment | £ 46 | £ 78 |
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Thatcham Memorial Foundation, Annual Report 2024 – 2025
| Office | £ 3,920 | £ 2,873 | ||
|---|---|---|---|---|
| Equipment | £ 571 | £ 496 | ||
| Stationery | £ 217 | £ 252 | ||
| Room Hire | £ 87 | |||
| Software / IT | £ 2,333 | £ 556 | ||
| Sundry | £ 50 | £ 105 | ||
| Volunteer / Staff Gratuities | £ 662 | £ 1,464 | ||
| Memorial Hall | £ 5,358 | £ 5,831 | ||
| Equipment | £ 1,215 | £ 1,126 | ||
| Alarm | £ 354 | £ 491 | ||
| CCTV | £ 54 | £ 108 | ||
| Maintenance | £ 3,735 | £ 4,106 | ||
| Clock Tower | £ 330 | £ 971 | ||
| Events3 | £ 425 | |||
| Maintenance | £ 330 | £ 546 | ||
| Communications & Advertising | £ 1,972 | £ 1,748 | ||
| Website | £ 256 | £ 106 | ||
| Alarm/Public Wi-Fi-Tel-Internet | £ 1,422 | £ 969 | ||
| Promotional Materials/Advertising | £ 138 | £ 529 | ||
| Zoom | £ 156 | £ 144 | ||
| 2nd Thatcham Scouts | £ 5,655 | £ 11,462 | ||
| Professional Fees for Lease | £ 5,655 | £ 7,841 | ||
| Insurance Claim | £ 2,521 | |||
| Repair | £ 1,100 | |||
| Thatcham Bowling Club | £ 1,125 | £ 5,126 | ||
| Professional Fees for Lease | £ 1,125 | £ 4,211 | ||
| Insurance | £ 339 | |||
| Repair | £ 576 | |||
| Cleaning Supplies | £ 2,278 | £ 1,209 | ||
| Car Park Maintenance | £ 5,872 | |||
| Remembrance Events | £ 1,835 | |||
| Royal British Legion | ||||
| Defibrillator | £ 843 | |||
| Football Pitches | ||||
| Land Register | £ 9 | |||
| Annual Public Meeting | £ 674 | £ 593 | ||
| Refundable General | £ 656 | £ 90 | ||
| Refundable Deposits | £ 1,133 | £ 839 | ||
| Fundraising Expenses | £ 139 | £ 156 | ||
| Total | £ |
133,331 | £ 117,675 |
Notes.
-
The bill for Solar Panels is in dispute.
-
Recharges to tenants delayed until new lease in place.
-
Events not funded from earmarked reserves.
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Thatcham Memorial Foundation, Annual Report 2024 – 2025
| INCOME | 2024 - 2025 | 2024 - 2025 | 2023 – 2024 | 2023 – 2024 |
|---|---|---|---|---|
| Main Cat | Sub Cat | Main Cat | Sub Cat | |
| Dividend & Interest | £ 19,728 | £ 18,894 | ||
| Metro Bank | £ 676 | £ 1,135 | ||
| Charities Aid Foundation | £1,095 | £ 141 | ||
| Blackrock | £ 17,957 | £ 17,617 | ||
| Grants | £ - | £ 226 | ||
| Football Pitches | £ 226 | |||
| Tennis Courts | ||||
| Memorial Hall Hire | £ 33,758 | £ 37,869 | ||
| Main Hall | £ 30,883 | 33,414 | ||
| Storage | £ 2,875 | 4,455 | ||
| Field Hire | £ 10,411 | £ 14,145 | ||
| Car Boot | £ 10,330 | £ 11,725 | ||
| Circus | £ 600 | |||
| Funfair | £ 1,820 | |||
| Football Training | £ 81 | |||
| 2nd Thatcham Scouts | £ 75 | £ 284 | ||
| Leasehold Rent | £ 284 | |||
| Recharges | £ 17 | |||
| Sublet Commission | £ 58 | |||
| Thatcham Bowling Club | £ 17 | £ - | ||
| Leasehold Rent | ||||
| Recharges | £ 17 | |||
| Sublet Commission | ||||
| Tennis Courts | £ - | £ 900 | ||
| NTA OperatingLicense | £ - | £ 900 | ||
| Other Leasehold Rent | £ 3,159 | £ 1,229 | ||
| Thames ValleyPolice Office | £ 1,623 | £ 1,217 | ||
| TVP Office Recharge | £ 1,525 | |||
| SSE Wayleaves | £ 11 | £ 11 | ||
| Fundraising | £ 1,784 | £ 1,780 | ||
| West Berkshire Lottery | £ 78 | £ 103 | ||
| DirectlyOrganised Events | £ 1,706 | £ 1,322 | ||
| War Memorial Quiz | £ - | £ 355 | ||
| Donations | £ 8,415 | £ 25,790 | ||
| Clocktower | £ - | £ 2,020 | ||
| Defibrillator | £ 4 | £ 615 | ||
| Business Donation | £8,291 | £ 23,100 | ||
| General | £ 120 | £ 115 | ||
| War Memorial Car Park | £ 17,155 | £ 22,136 | ||
| Public Car Park | £14,607 | £ 18,916 | ||
| Food Vendor | £ 2.548 | £ 3,160 |
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Thatcham Memorial Foundation, Annual Report 2024 – 2025
| Refunds | £ 776 | £ 216 | ||
|---|---|---|---|---|
| Insurance Claim | £ 884 | £ 3,827 | ||
| Refundable Deposits | £ 500 | £ 950 | ||
| Recharges | £ 845 | £ 2,212 | ||
| Asbestos Survey | ||||
| Insurance | £ 845 | |||
| CCTV | ||||
| Valuation | ||||
| Repair | £ 1,551 | |||
| Water TOTAL |
£ 662 | |||
£ |
97,508 | £ | 130,458 |
Summary
| Income & Expenditure Summary | 2024-2025 | 2024-2025 | 2023-2024 | 2023-2024 |
|---|---|---|---|---|
| Income | £97,508 | £ 130,458 | ||
| Expenditure | £ 133,331 | £ 117,675 | ||
| Excess of Regular Income over Expenditure |
(£ 35,823) | £ 12,783 | ||
| PlayArea Project Fund Income | £ 2,943 | |||
| PalyArea Project Fund Expenditure | £ 97,986 | |||
| TOTAL | (£ 35,823) |
£ 82,260 |
Assets & Liabilities
| Fixed Assets | 2024-2025 | 2023-2024 | ||
|---|---|---|---|---|
| Memorial Hall(Inc Clock Tower) | £ 917,632 | £ 917,632 | ||
| Scout Hut | £ 548,738 | £ 548,738 | ||
| Bowls Club House | £ 667,627 | £ 667,627 | ||
| War Memorial | £ 114,490 | £ 114,490 | ||
| Tennis Court | £ 57,245 | £ 57,245 | ||
| Land | ||||
| TOTAL | £ | £ 2,305,733 |
Buildings as at May 2022 desktop re-valuation by Rebuild Cost Assessment Ltd. The play area was added in March 2023 after completion.
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Thatcham Memorial Foundation, Annual Report 2024 – 2025
| Reserves & Funds | 31.03.2025 | 31.03.2024 |
|---|---|---|
| Unrestricted | £1,173 | £18,760 |
| Current Account | £ 1,173 | £ 8,760 |
| General Reserve | £ 0 | £ 10,000 |
| Designated | £58,606 | £75,140 |
| Clocktower Earmarked Reserve | £ 1,024 | £ 1,454 |
| Defibrillator Earmarked Reserve | £ 1,065 | £ 1,065 |
| Maintenance Earmarked Reserve | £ 5,000 | £ 5,000 |
| War Memorial Earmarked Reserve | £ 4,022 | £ 4,687 |
| RollingCapital Fund | £ 5,348 | £ 21,882 |
| EmergencyReserve | £ 26,397 | £ 25,302 |
| PlayArea SinkingFund | £ 8,750 | £ 8,750 |
| Tennis Courts SinkingFund | £ 7,000 | £ 7,000 |
| Restricted | £11,302 | £13,004 |
| PlayArea Project Fund | £ 4,750 | £ 6,452 |
| Football Pitches Project Fund | £ 1,552 | £ 1,552 |
| Hirers' Deposit | £ 5,000 | £ 5,000 |
| Total | £71,081 |
£106,905 |
| Bank Accounts | 31.03.2025 | 31.03.2024 |
|---|---|---|
| Metro Bank | £ 28,934 | £ 65,852 |
| Current Account | £ 1,344 | £ 31,887 |
| Instant Access Deposit Account | £ 10,970 | £ 17,453 |
| 35 DayNotice Account | £ 6,200 | £ 6,200 |
| 60 DayNotice Account | £ 5,420 | £ 5,312 |
| 95 DayNotice Account | £ 5,000 | £ 5,000 |
| Charities Aid Foundation | £ 42,147 | £ 41,052 |
| Total | £71,081 |
£106,905 |
| Investments | 31.03.2025 | 31.03.2024 |
|---|---|---|
| Blackrock | ||
| 1981 Permanent Endowment1 | £ 507,342 | £ 491,325 |
| 1982 Recoupment Fund2 | £ 28,901 | £ 27,009 |
| 1992 Investment3 | £ 22,757 | £ 21,882 |
| Total | £ 559,000 | £ 540,216 |
Notes.
-
Fund created from the sale of land for the additional bungalows.
-
Money loaned from Permanent Endowment to pay for the building of the Memorial Hall, paid back between 1982 and 2007.
-
Investment of surplus funds in 1992 was represented by 3000 units held in the Blackrock Equity Fund Income.
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Thatcham Memorial Foundation, Annual Report 2024 – 2025
Overall Balance Sheet 31.03.2025
| Overall Balance Sheet | 31.03.2025 | 31.03.2024 |
|---|---|---|
| Metro Bank | £ 28,934 | £ 65,852 |
| Charities Aid Foundation | £ 42,147 | £ 41,052 |
| Portfolio Investments | £ 559,000 | £ 540,216 |
| Fixed Assets | £ 2,504,297 | £ 2,504,297 |
| Total | £3,129,388 |
£ 3,151,417 |
Investment Portfolio
The Portfolio of Investments are administered by BlackRock Investment Management [UK] Limited. The accounts, funds, number of units and value as shown in the portfolios statement as of March 31[st] 2025 are shown below.
| Portfolio of Investments | No. Units | 31.03.2025 | 31.03.2024 |
|---|---|---|---|
| Blackrock | |||
| Charities EquityFund A Income | 62,386.10 | £473,245 | £ 455,054 |
| Charities Bond Fund A Income | 39,918.19 | £56,854 | £ 58,153 |
| Charities EquityFund Accumulating | 946.659 | £26,289 | £ 24,435 |
| Charities Bond Fund Accumulating | 56.07 | £2,612 | £ 2,574 |
| Total | - |
£559,000 |
£ 540,216 |
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Thatcham Memorial Foundation, Annual Report 2024 – 2025
Notes to the accounts
Responsibilities of the Board of Trustees
We are required under the Charities Act 1993 and successive legislation to prepare financial statement for each financial year which give a true and fair view of the Charity’s financial state, and of its results for the period. In preparing those financial accounts we are required to;
-
Select suitable accounting policies and apply them consistently.
-
Make judgements and estimates that are reasonable, for prudent purposes and activities of the Charity.
-
Prepare the financial statement on a going concern basis unless it is inappropriate to presume the charity will continue.
We are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and enable us to ensure that the financial statement comply with the Charities Act 1993 and successive legislation. We are also responsible for safeguarding the assets of the charity and for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Accounting Policies
Accounting Convention:
The financial statements have been prepared under the historical cost conventions and in accordance with the Financial Reporting Standard for Smaller Entities [effective April 2008], the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Account and Reporting by Charities.
Incoming Resources:
All incoming resources are within the Income and Expenditure Summary when the Charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Resources Expended:
Expenditure has been classified under specific headings that aggregate all costs related to that category. Where costs cannot be directly attributed to a particular heading, they have been allocated to activities on a basis consistent with the use of resources.
VAT Status:
The requirement to apply for VAT status is dependent on qualifying income, and that income being in excess of £90,000. Non – Qualifying income includes; Dividends & Interest, Grants, Fundraising, Rental and fee payments from property, donations and the hiring of facilities subject to conditions.
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Thatcham Memorial Foundation, Annual Report 2024 – 2025
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THATCHAM MEMORIAL FOUNDATION
I report to the trustees on my examination of the accounts of the Thatcham Memorial Foundation (Charity number 1187212) for the year ended 31.03.2025.
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 requirements 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
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
(1) 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 do not comply with the applicable requirements concerning 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 considered 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.
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Thatcham Memorial Foundation, Annual Report 2024 – 2025
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