REGISTERED COMPANY NUMBER: 12152361 (England and Wales) REGISTERED CHARITY NUMBER: 1190873
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
FOR
JEAN AND GRAHAM TIDMAS FOUNDATION
Chariot House Limited Chartered Accountants
44 Grand Parade Brighton East Sussex BN2 9QA
JEAN AND GRAHAM TIDMAS FOUNDATION
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 9 |
JEAN AND GRAHAM TIDMAS FOUNDATION (REGISTERED NUMBER: 12152361)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2023. 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 Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objects of the charity are to advance such charitable purposes (according to the law of England and Wales) as the trustees from time to time see fit and in particular, but without prejudice to the generality of the foregoing, the advancement of such charitable purposes that benefit the inhabitants of the civil parish of Wisbech, Cambridgeshire and the surrounding area.
The charity was established by the will of the late Graham Tidmas. The estate included various financial assets which have been realised and the proceeds of this have been transferred to this charity.
The estate also included a number of properties that will be retained by the charity to produce rental income from which grants will be paid. As at 31 August 2023 these properties were still in the estate and title had not been transferred to the charity.
The principal activity of the charity to fulfil these objects for the public benefit is the making of grants. The trustees have had regard to the Charity Commission's guidance on public benefit.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
During the year three grants were made in line with the charity's objects:
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A grant of £15,000 was made to Upwell Playing Field Committee to improve the facilities there.
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A grant of £4,000 was made to Ovarian Cancer.
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A grant of £1,000 was made to Guide Dogs for the Blind.
FINANCIAL REVIEW
Financial position
During the year, a distribution of estate income was received from the estate of Graham Tidmas, which together with tax recovery amounted to £85,625.
Grants totalling £20,000 were paid and after a small amount of other income and expenditure, there was a surplus for the year of £63,411.
There are reserves carried forward amounting to £63,416 in the unrestricted fund and £417,639 in the endowment fund.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
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JEAN AND GRAHAM TIDMAS FOUNDATION (REGISTERED NUMBER: 12152361)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023
The charity is constituted as a company limited by guarantee and was incorporated at Companies House on 12 August 2019.
It was registered with the Charity Commission on 17 August 2020.
The original trustees were appointed under the request of the late Graham Tidmas. New trustees are appointed by the existing trustees. Their suitability to help fulfil the charity's objects are considered and they are given an induction as to the purposes and policies of the charity.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
12152361 (England and Wales)
Registered Charity number
1190873
Registered office
Church View 51 Town Street Upwell Nr Wisbech Cambridgeshire PE14 9DA
Trustees
D P Cooper M A Saunders P J Thacker G D Stittle (appointed 29/12/2023)
Independent Examiner
Dr Shona F Wardrop C.A. Chariot House Limited Chartered Accountants 44 Grand Parade Brighton East Sussex BN2 9QA
Advisers
Bankers: NatWest Bank Bourne Leicester Customer Service Centre 11 Western Boulevard Bede Island Leicester LE2 7EJ
Approved by order of the board of trustees on 14 May 2024 and signed on its behalf by:
P J Thacker - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF JEAN AND GRAHAM TIDMAS FOUNDATION
Independent examiner's report to the trustees of Jean And Graham Tidmas Foundation ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2023.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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
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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 reached.
Dr Shona F Wardrop C.A. The Institute of Chartered Accountants of Scotland
Chariot House Limited Chartered Accountants 44 Grand Parade Brighton East Sussex BN2 9QA
14 May 2024
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JEAN AND GRAHAM TIDMAS FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2023
| Unrestricted Endowment fund fund Notes £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 85,643 - EXPENDITURE ON Charitable activities Charitable activities 22,232 - NET INCOME 63,411 - RECONCILIATION OF FUNDS Total funds brought forward 5 417,639 TOTAL FUNDS CARRIED FORWARD 63,416 417,639 |
2023 Total funds £ 85,643 22,232 63,411 417,644 481,055 |
2022 Total funds £ 109,307 |
|---|---|---|
| - | ||
| 109,307 308,337 |
||
| 417,644 |
The notes form part of these financial statements
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JEAN AND GRAHAM TIDMAS FOUNDATION (REGISTERED NUMBER: 12152361)
BALANCE SHEET
31 AUGUST 2023
| Unrestricted Endowment fund fund Notes £ £ CURRENT ASSETS Debtors 4 17,125 - Cash at bank 81,129 417,639 98,254 417,639 CREDITORS Amounts falling due within one year 5 (34,838) - NET CURRENT ASSETS 63,416 417,639 TOTAL ASSETS LESS CURRENT LIABILITIES 63,416 417,639 NET ASSETS 63,416 417,639 FUNDS 6 Unrestricted funds Endowment funds TOTAL FUNDS |
2023 Total funds £ 17,125 498,768 515,893 (34,838) 481,055 481,055 481,055 63,416 417,639 481,055 |
2022 Total funds £ - 501,087 501,087 (83,443) 417,644 417,644 417,644 5 417,639 417,644 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 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.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 14 May 2024 and were signed on its behalf by:
P J Thacker - Trustee
The notes form part of these financial statements
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JEAN AND GRAHAM TIDMAS FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
1. 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 accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
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 will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured 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 activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Taxation
The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK Corporation Tax purposes. Accordingly the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions 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 to the financial statements.
2. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2023 nor for the year ended 31 August 2022.
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continued...
JEAN AND GRAHAM TIDMAS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023
2. TRUSTEES' REMUNERATION AND BENEFITS - continued
Trustees' expenses
There were trustees' expenses paid of £420 (2022: nil) to three trustees relating to trustees' meeting costs.
3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 5 NET INCOME 5 RECONCILIATION OF FUNDS Total funds brought forward - TOTAL FUNDS CARRIED FORWARD 5 4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Tax 5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors Accrued expenses 6. MOVEMENT IN FUNDS At 1/9/22 £ Unrestricted funds General fund 5 Endowment funds Endowment 417,639 TOTAL FUNDS 417,644 |
Endowment fund £ 109,302 109,302 308,337 417,639 2023 £ 17,125 2023 £ 33,638 1,200 34,838 Net movement in funds £ 63,411 - 63,411 |
Total funds £ 109,307 109,307 308,337 417,644 2022 £ - 2022 £ 83,386 57 83,443 At 31/8/23 £ 63,416 417,639 481,055 |
Total funds £ 109,307 |
|---|---|---|---|
| 109,307 308,337 |
|||
| 417,644 |
continued...
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JEAN AND GRAHAM TIDMAS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023
6. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 85,643 TOTAL FUNDS 85,643 Comparatives for movement in funds At 1/9/21 £ Unrestricted funds General fund - Endowment funds Endowment 308,337 TOTAL FUNDS 308,337 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 5 Endowment funds Endowment 109,302 TOTAL FUNDS 109,307 |
Resources Movement expended in funds £ £ (22,232) 63,411 (22,232) 63,411 Net movement At in funds 31/8/22 £ £ 5 5 109,302 417,639 109,307 417,644 Resources Movement expended in funds £ £ - 5 - 109,302 - 109,307 |
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continued...
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JEAN AND GRAHAM TIDMAS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023
7. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 August 2023.
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