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 2024
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 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | to | 6 |
| Notes to the Financial Statements | 7 | to | 11 |
JEAN AND GRAHAM TIDMAS FOUNDATION (REGISTERED NUMBER: 12152361)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024
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 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 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 2024 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 four grants were made in line with the charity's objects:
-
A grant of £20,000 was made to St Peter's Church, Upwell towards repairs and renovation of the church.
-
A grant of £1,500 was made towards the renovation and extension of the Memorial Plaque site at St Peter's Church, Upwell.
-
A grant of £1,000 was made to Upwell Bowls Club towards the purchase of a defibrillator.
-
A grant of £966 was made to Blended Monkey towards the purchase of tooling and wood to be used in creative therapy workshops run for people with mental or physical health difficulties.
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 £30,000.
Grants totalling £23,466 were paid and after a small amount of other income and expenditure, there was a surplus for the year of £20,761.
Two further investment properties were purchased at a total cost of £323,375.
There are reserves carried forward amounting to £84,177 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.
Page 1
JEAN AND GRAHAM TIDMAS FOUNDATION (REGISTERED NUMBER: 12152361)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024
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 is 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 21 May 2025 and signed on its behalf by:
P J Thacker - Trustee
Page 2
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 2024.
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:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
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
-
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
21 May 2025
Page 3
JEAN AND GRAHAM TIDMAS FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2024
| Unrestricted Endowment fund fund Notes £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 30,000 - Investment income 2 17,267 - Total 47,267 - EXPENDITURE ON Raising funds 1,576 - Charitable activities Charitable activities 24,930 - Total 26,506 - NET INCOME 20,761 - RECONCILIATION OF FUNDS Total funds brought forward 63,416 417,639 TOTAL FUNDS CARRIED FORWARD 84,177 417,639 |
2024 Total funds £ 30,000 17,267 47,267 1,576 24,930 26,506 20,761 481,055 501,816 |
2023 Total funds £ 85,643 - |
|---|---|---|
| 85,643 | ||
| - 22,232 |
||
| 22,232 | ||
| 63,411 417,644 |
||
| 481,055 |
The notes form part of these financial statements
Page 4
JEAN AND GRAHAM TIDMAS FOUNDATION (REGISTERED NUMBER: 12152361)
BALANCE SHEET
31 AUGUST 2024
| Unrestricted Endowment fund fund Notes £ £ FIXED ASSETS Investment property 5 - 323,375 CURRENT ASSETS Debtors 6 6,969 - Cash at bank 78,168 115,850 85,137 115,850 CREDITORS Amounts falling due within one year 7 (960) (21,586) NET CURRENT ASSETS 84,177 94,264 TOTAL ASSETS LESS CURRENT LIABILITIES 84,177 417,639 NET ASSETS 84,177 417,639 FUNDS 8 Unrestricted funds Endowment funds TOTAL FUNDS |
2024 Total funds £ 323,375 6,969 194,018 200,987 (22,546) 178,441 501,816 501,816 84,177 417,639 501,816 |
2023 Total funds £ - 17,125 498,768 515,893 (34,838) 481,055 481,055 481,055 63,416 417,639 481,055 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(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.
The notes form part of these financial statements
Page 5
continued...
JEAN AND GRAHAM TIDMAS FOUNDATION (REGISTERED NUMBER: 12152361)
BALANCE SHEET - continued
31 AUGUST 2024
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 21 May 2025 and were signed on its behalf by:
P J Thacker - Trustee
The notes form part of these financial statements
Page 6
JEAN AND GRAHAM TIDMAS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
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.
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 Activities.
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.
continued...
Page 7
JEAN AND GRAHAM TIDMAS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| Rents received Interest receivable |
2024 £ 13,369 3,898 17,267 |
2023 £ - - |
| - |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2024 nor for the year ended 31 August 2023.
Trustees' expenses
There were trustees' expenses paid of £585 (2023: £420) to four (three) trustees relating to trustees' meeting costs.
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted Endowment fund fund £ £ 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 |
Total funds £ 85,643 |
|---|---|
| 22,232 | |
| 63,411 417,644 |
|
| 481,055 |
continued...
Page 8
JEAN AND GRAHAM TIDMAS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024
5. INVESTMENT PROPERTY
| FAIR VALUE Additions At 31 August 2024 NET BOOK VALUE At 31 August 2024 At 31 August 2023 6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors Tax 7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors Accrued expenses 8. MOVEMENT IN FUNDS At 1/9/23 £ Unrestricted funds General fund 63,416 Endowment funds Endowment 417,639 TOTAL FUNDS 481,055 |
2024 £ 969 6,000 6,969 2024 £ 21,586 960 22,546 Net movement in funds £ 20,761 - 20,761 |
£ 323,375 |
£ 323,375 |
|---|---|---|---|
| 323,375 | |||
| 323,375 | |||
| - | |||
| 2023 £ - 17,125 17,125 2023 £ 33,638 1,200 34,838 At 31/8/24 £ 84,177 417,639 |
2023 £ - 17,125 |
||
| 17,125 | |||
| 2023 £ 33,638 1,200 |
|||
| 34,838 | |||
| 501,816 |
continued...
Page 9
JEAN AND GRAHAM TIDMAS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024
8. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 47,267 TOTAL FUNDS 47,267 Comparatives for movement in funds At 1/9/22 £ Unrestricted funds General fund 5 Endowment funds Endowment 417,639 TOTAL FUNDS 417,644 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 85,643 TOTAL FUNDS 85,643 |
Resources Movement expended in funds £ £ (26,506) 20,761 (26,506) 20,761 Net movement At in funds 31/8/23 £ £ 63,411 63,416 - 417,639 63,411 481,055 Resources Movement expended in funds £ £ (22,232) 63,411 (22,232) 63,411 |
|---|---|
continued...
Page 10
JEAN AND GRAHAM TIDMAS FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 August 2024.
Page 11