## **2022** 

## Louis Thorold Foundation 

**Annual Report and Financial Statements** For the Year Ended 31[st] March 2022 Registered Charity Number 1194891 




Louis Thorold Foundation **2022 Annual Report and Financial Statements** 

## **Trustees Annual Report for Year Ended 31[st] March 2022** 

## **References and Administrative Information** 

The Louis Thorold Foundation is a Charitable Incorporated Organisation (CIO) registered with the Charities Commission in England and Wales, registration number 1194891. 

The trustees present their annual report and financial statements for the year ended 31[st] March 2022.  The charity trustees are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

**Trustees Christopher James Thorold** (Chairman) – _Appointed 22[nd] June 2021_ **Rachael Louise Ann Thorold** – _Appointed 22[nd] June 2021_ **Richard James Thorold** – _Appointed 22[nd] June 2021 (Resigned 9[th] December 2022)_ **Claire Nicole Jane Ashworth** – _Appointed 22[nd] June 2021 (Resigned 14[th] November 2022)_ 

**Registered** 11 Gibson Close **Address** Waterbeach Cambridge CB25 9HY **Bankers** National Westminster Bank Plc 11 High Street Epsom KT19 8DX 

## **Structure, Governance and Management** 

The Louis Thorold Foundation was registered on 22[nd] June 2021 and is governed by Constitution which follows the Foundation model issued by the Charities Commission. A copy of the Constitution is filed with the Charities Commission and is available on our website.  The charity aims to follow the Charity Governance Code and plans to undertake a maturity assessment against the code in 2023. 

New trustees are appointed by the existing trustees and are appointed by resolution at a properly convened meeting of the charity trustees.  In selecting individuals for 

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appointment as charity trustees, regard is given to the skills, knowledge and experience needs for the effective administration of the charity.  There must be a minimum of three trustees.  There is no minimum or maximum term. 

## **Reserves Policy** 

Total reserves held at year end are £35,478. These funds allow operations to continue into the following financial year whilst we develop the longer-term fundraising and operational model for the charity. Our aim is to keep a level of reserves to cover 6-12 months operating costs. 

## **Statement of Responsibilities of the Trustees** 

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). 

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and the incoming resources and application of resources, including the net income or expenditure, of the charity for the year. In preparing those financial statements the trustees are required to: 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charities SORP; 

- make judgements and accounting estimates that are reasonable and prudent; 

- state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements; and 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. 

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity's website. Legislation in the United 

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Louis Thorold Foundation **2022 Annual Report and Financial Statements** 

Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. 

Members of the charity have no liability to contribute to the assets of the charity in the event of winding up. The trustees are members of the charity, but this entitles them only to voting rights. The trustees have no beneficial interest in the charity. 

## **Independent examiners** 

Godfrey Wilson Limited were appointed as independent examiners to the charity during the period and have expressed their willingness to continue in that capacity. 

Approved by the trustees on 23[rd] January 2023 and signed on their behalf by: 

**Chris Thorold** 

## **Chair of Trustees** 

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## **Independent Examiner’s Report** 

I report to the trustees on my examination of the accounts of Louis Thorold Foundation (the CIO) for the year ended 31[st] March 2022, which are set out on pages 14 to 20. 

## **Responsibilities and Basis of Report** 

As the charity trustees of the CIO 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 CIO’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 CIO 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. 

## William Guy Blake 

Date: 23[rd] January 2023 **William Guy Blake ACA** Member of the ICAEW 

For and on behalf of: 

## **Godfrey Wilson Limited Chartered Accountants and Statutory Auditors** 

5th Floor Mariner House, 62 Prince Street, Bristol, BS1 4QD 

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Louis Thorold Foundation **2022 Annual Report and Financial Statements** 

## **Objectives and Activities** 

The Louis Thorold Foundation was setup in June 2021 following the death of Louis Thorold, who at only five months old was killed as his mother walked him along a pavement in Cambridge by an elderly driver who should not have been driving. 

The Louis Thorold Foundation aims to advance the education of the public in issues of road safety with the object of reducing and coping with personal injury and death, in particular, but not exclusively of children and infants in the United Kingdom. 

Practically this means **we aim to prevent the deaths of children on Britain’s roads** .  In the UK road safety statistics make troubling reading.  Despite significant reductions in deaths and serious injuries during the 80s and 90s, in the last decade the UK has stagnated and fallen behind other countries when it comes to more progressive approaches to road safety.  In 2020: 

- **52 children were killed** on Britain’s roads 

- **2,115 seriously injured** , and 

- **10,488 were casualties** requiring hospital treatment 

- **Globally road traffic injuries are the leading cause of death in children** with 220,000 children killed globally each year 

Advancements in vehicle safety have led to tremendous benefits for their occupants but this now means that over half of those killed are classed as vulnerable users (pedestrians, cyclists, motorcyclists) who mainly rely on the design of the ‘system’ to stay safe. 

The Louis Thorold Foundation believes that if the road system is safe for children, then it will represent a significant step forward in road safety for all.  In August 2020 the United Nations adopted resolution A/RES/74/299 with a commitment to improving global road safety by halving all road deaths by 2030. 

In 2021 the Louis Thorold Foundation committed to VisionZero a strategy developed in the 1990’s to eliminate all traffic deaths and serious injuries.  A fundamental part of this strategy is to recognise that the system must be safe and that all deaths are preventable. 

We are in no doubt that had a safe systems approach been taken to the design of the local community in Cambridge and that had appropriate medical assessments of elderly 


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drivers been carried out, that Louis’ death and thousands of others could have been prevented. 

Following the serious injuries to Louis’ mother Rachael, it became apparent that various structural failings exist within the agencies who deal with the aftermath of deaths and injuries.  Whilst the individuals who do this each day are held in the highest regard, the systems and structures in which they operate are either poorly designed, inefficient or lack appropriate funding.  Whilst recognising that the prevention of road deaths and serious injuries is the objective, we look to support emergency service response teams and rehabilitative services who deal with the consequences each day. 

In order to achieve this the Louis Thorold Foundation focusses on 5 key areas: 

|Promote||Support||Raise||Invest in||Campaign|
|---|---|---|---|---|---|---|---|---|
|Promote the<br>**advancement**<br>**of road safety**<br>through<br>supporting and<br>campaigning<br>for VisionZero||**Support**<br>**emergency**<br>**response**<br>**teams**<br>including the<br>Air Ambulance<br>Service, the<br>Ambulance<br>service and 1st<br>responder<br>teams||**Raise funds**<br>through<br>various<br>charitable<br>activities||**Invest in**<br>**research**<br>**surrounding**<br>**road safety**<br>and associated<br>rehabilitative<br>treatment of<br>Severe Brain<br>Injury (SBI)||**Campaign**for<br>for change and<br>support related<br>road safety<br>charities|



The trustees confirm that they continuously follow the guidance from the UK Charities Commission and act in good faith that all activity conducted by the Louis Thorold Foundation is for the benefit of the public. 


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Louis Thorold Foundation **2022 Annual Report and Financial Statements** 

## **Achievements and Performance** 

## **Fix the A10** 

The A10 in Cambridgeshire is a notoriously dangerous road and had a safe systems approach been taken prior to 2021 it would have been safe for pedestrians.  Between 2000 and 2021 21 people were killed on the stretch of the A10 between Waterbeach and Milton.  In that time period nothing was done to make the road safer. 


Our campaign was simple, where vehicles are manoeuvring alongside footpaths or where children cross the road, either protection must be installed to ensure they are safe, or the speed limit reduced such that any incident on the carriageway would not encroach the pavement (known as ‘forgiving roadsides’).  Specifically, we proposed: 

- Reduce the speed limit from 50mph to 40mph between the A14 and Denny End Road 

- Erect safety barriers to protect pedestrians from fast moving traffic at junctions 

- Install traffic lights or a longer-term solution to make junctions safe once and for all 

In order to achieve this objective, it required a significant technical, cultural and political effort.  Local authorities are notoriously slow at making changes in road design and the understanding of road system design is immature with an underlying culture of ‘the car is king’ still commonplace amongst many councillors. 

We spent a considerable amount of time bringing together leaders from the council, local members of parliament, the county mayor and members of the emergency services to create a quorum of support in changing the approach for Cambridgeshire.  This was very well received. 

The regional authority had begun implementing VisionZero the year prior to Louis’ death but this was not well understood by the local authorities (charged with road design).  We positioned this road as a proof point of this goal and this quickly gathered support in both those who governed the council and the road designers. 

The next challenge was funding.  Whilst some of the improvements we proposed had a minimal cost, already stretched local authority budgets have limited access to funding 

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for road safety as the benefits are seen in wider society rather than to the council themselves.  We approached Urban&Civic Plc, who are responsible for the development of a new town just north of Waterbeach. 

They had agreed through s106 agreements attached to planning permission to make minor changes to the A10 by installing a traffic light crossing and repave the footpath to cope with increased use once their development was finished.  They had anticipated spending around £150,000 on these improvements which were relatively minor and did not address any current safety issues with this stretch of road. 

Through dialogue and collaboration, we developed a new road design which dropped the speed limit from 50mph to 40mph, widened the footpath between Waterbeach and Milton to be a proper dual use cycleway, installed a traffic signal crossing and reprofiled the junction with Car Dyke Road in order to make it safer and clearer.  The total cost of these works is considerably in excess of £1.5m. 

Urban&Civic and Cambridgeshire County Councill began design work in the summer of 2021 and reduced the speed limit in the same month.  The usual design and approval process for a scheme like this is around 18 months to 2 years, but this was complete within 9 months following significant determination and collaboration with the design teams.  Work began on the wider works in February 2022 and whilst not fully complete was materially complete in October 2022 with a new crossing installed and significantly wider footpath. 

We would like to thank everyone who supported us during this campaign, in particular Cambridge County Council and Urban&Civic.  Chairman of the Louis Thorold Foundation and father of Louis, Chris Thorold said: 

_“In 20 months, we’ve achieved more for road safety on the A10 than had been done on this road in the past 20 years.  It’s heartening to see what collaboration between Cambridgeshire County Council, Urban&Civic and the Louis Thorold Foundation can achieve in such a short space of time….  However, this is just the beginning, and we won’t rest until all our roads in Cambridgeshire and across the UK are safe for our children.”_ 

Since these works were carried out there has not been a single collision in which someone has been killed or seriously injured and none involving a vulnerable road user. Evidence has shown that the speed limit reduction which is not enforced by camera is widely being complied with and children who use this road to get to school feel much safer as a result. 

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Louis Thorold Foundation **2022 Annual Report and Financial Statements** 

## **Ongoing Campaigns** 

Our campaigns continue as they have a longer period to achieving success.  Further details can be found on our webpage: 

## **Love 20** 

- We continue to support the 20’s Plenty campaign across the UK.  During the period we continued to support by reiterating the key messages and narrative and have succeeded in obtaining a funded route for villages across Cambridgeshire who wish to adopt a 20mph speed limit by default.  Whilst some villages have now had this implemented, we expect to see major changes during 2023. 

- Urban&Civic ,a major UK residential housing developer have committed to ensuring that all new developments not only have 20mph as the default speed limit but also have child safety built into their design ethos.  As an example of this the new school in the Waterbeach New Town development with have no roads in the immediate vicinity to encourage active travel, ensure safe routes for children to walk and improve health and wellbeing of children. 


**----- Start of picture text -----**<br>
Louis’ Law<br>• Aims to ensure that all drivers are medically safe to drive as is commonplace<br>in most developed countries.<br>• The UK currently has no mechanism to check that as drivers get older, they<br>are medically fit to drive and we believe this needs to change.<br>• This campaign will kick off formally in 2023 following the conclusion of the<br>criminal and coroner’s investigations into Louis’ death.<br>**----- End of picture text -----**<br>


## **Support to VisionZero** 

- In May 2020 we championed the idea of creating a Road Safety Investigation Branch (RSIB) to look at ensuring that lessons are learnt and implemented at a higher level than individual collisions. 

- In October 2021, the UK government launched a consultation to which the Louis Thorold Foundation became a key advocate in child road safety.  In June 2022 the government officially launched the RSIB in a step seen as extremely progressive by many to try and systematically address the causes of road deaths and injuries and having a remit to implement throughout government. 

- Whilst this is a small step forward, it shows the commitment of the UK government to road safety and should expect significant benefits as have been seen in Aviation, Maritime and Rail over the last 30 years. 

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## **Fundraising** 

Throughout 2021 and 2022 we have received tremendous support from a wide range of supporters.  The trustees wish to thank every single one of the people who have donated to our cause.  We are truly overwhelmed by the support both in terms of donations and best wishes and we know that we will make a difference by ensuring one day no child will die on the roads in the UK. 

Further details of donations received are contained within the financial statements, but during the financial year we’d like to acknowledge some of our amazing donors: 

The **Cambridge Executive MBA** students who have run the Cambridge half marathon twice both in 2021 and 2022. Thank you to **Bola Grace, Irina Predescu, Dean Curran, Luis Garcia-Gancedo, Anna Hoof, Steve Lutzmann, Peng Ke, Murtaza Khan, Tariq Shah and Amir Shahir** for your tremendous efforts! 





Our dear friends **Victoria Harris and Alice Murphy** walked the Yorkshire three peaks which is an incredible achievement and raised a huge amount for our charity.  They completed this challenge in an amazing time and raised so much awareness for our charity and our causes across Yorkshire. 

Our dear friend **Friso van Gent** completed the Brighton Marathon in October 2021 raising a huge amount for the charity. 


Throughout this troubling time, we’d like to make a special mention to three amazing people from our local village in Waterbeach.  Robyn White, Lauren Morgan and Claire Butterfill setup a gofundme crowd funding page before we existed as a charity to raise awareness of issues and support those who helped us.  This raised over £21,000 which was donated equally to the Magpas Air Ambulance, East Anglian Air Ambulance, Addenbrookes Children’s Hospital and the Louis Thorold Foundation.  We can never thank you enough for your support and we know that the money you raised and the support you gave made a real difference and inspired us to keep going! 

Thank you so much to everyone who supported us this and those of you who made such generous donations.  Every single penny raised will go towards our lives work to make the roads safer for everyone and eventually reach a day when no child dies on the roads in the UK. 

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Louis Thorold Foundation **2022 Annual Report and Financial Statements** 

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## **Financial Review** 

The Louis Thorold Foundation is entirely funded by donations from individuals and companies.  In the first period of operation between June 2021 and March 2022 the charity generated £36,895 from a variety of sources. 

|**Source**|**Total**|
|---|---|
|Donations from Trustees|**16,427**|
|Donations - No Gift Aid|**7,999**|
|Gift Aid Claimed|**5,324**|
|Donations - Gift Aid Claimable|**4,867**|
|Donations from Companies|**2,278**|
|**Total Income**|**36,895**|




The charity uses a variety of donation platforms however the vast majority of donations are collected via Just Giving where the Louis Thorold Foundation is registered and directs any donations via this platform. 

During the year Just Giving charged fees associated with the processing of payments and the reclaim of gift aid totalling £200. 

In the first year of operation the charity has incurred a number of costs (£618) associated with the setup and raising awareness of the charity.  These are further detailed in the notes to the accounts, but activities were mainly focussed on generating a digital presence to raise awareness, with www.louisthorold.com being launched along with various social media channels on Instagram, Facebook, Twitter and LinkedIn.  Audit fees associated with the independent examination of the charity’s accounts were £600. 

The charity is yet to determine how best it spend the funds raised and at the year-end held unrestricted cash reserves £32,507 with £4,189 being due from HMRC and donation platforms.  The main expenditure during the year was the time and expertise of the trustees in setting up the charity, raising awareness and gaining support in executing the campaigns detailed.  Further detail of the charitable activities to which the charity wishes to operate will be defined during 2022. 

There a no material uncertainties that the Trustees would consider that cast doubt on the charity’s ability to continue as a going concern.  The charity has no long-term financial commitments and has no employees with all work being carried out by the trustees who are unpaid. 

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Louis Thorold Foundation **2022 Annual Report and Financial Statements** 

## The Louis Thorold Foundation 

## **Statement of Financial Activities** 

_For the Year Ended 31[st] March 2022_ 

||||**Restricted**|||**Prior**||
|---|---|---|---|---|---|---|---|
|||**Unrestricted**|**Income**|**Endowment**|**Total**|**Year**||
|||**Funds**|**Funds**|**Funds**|**Funds**|**Funds**||
||**Note**|<br>£|£|£|**£**|£||
|_Income & Endowments from:_||||||||
|•<br>Donations & Legacies||36,895|-|<br>-|<br>**36,895**||-|
|•<br>Charitable activities||-|<br>-|<br>-|<br>**-**||-|
|•<br>Other trading activities||-|<br>-|<br>-|<br>**-**||-|
|•<br>Investments||-|<br>-|<br>-|**-**||-|
|•<br>Other||-|<br>-|<br>-|<br>**-**||-|
|**Total Income & Endowments**|**2**|**36,895**|**-**|<br>**-**|<br>**36,895**||**-**|
|_Expenditure on:_||||||||
|•<br>Raising funds||(1,417)|-|<br>-|<br>**(1,417)**||-|
|•<br>Charitable activities||-|<br>-|<br>-|<br>**-**||-|
|•<br>Other||-|<br>-|<br>-|<br>**-**||-|
|**Total Expenditure**|**3**|**(1,417)**|**-**|<br>**-**|<br>**(1,417)**||**-**|
|•<br>Net gains/(losses) on invest||-|<br>-|<br>-|<br>**-**||-|
|**Net income/(expenditure)**||**35,478**|**-**|<br>**-**|<br>**35,478**||**-**|
|•<br>Extraordinary items||-|<br>-|<br>-|<br>**-**||-|
|•<br>Transfers between funds||-|<br>-|<br>-|<br>**-**||-|
|_Other recognised gains/(losses):_||||||||
|•<br>Gains/losses on reval of FA||-|<br>-|<br>-|<br>**-**||-|
|•<br>Other gains/(losses)||-|<br>-|<br>-|<br>**-**||-|
|**Net movement in funds**||**35,478**|**-**|<br>**-**|<br>**35,478**||**-**|
|**Reconciliation of funds:**||||||||
|Total funds brought forward||-|<br>-|<br>-|<br>**-**||-|
|**Total funds carried forward**||**35,478**|**-**|<br>**-**|<br>**35,478**||**-**|



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## The Louis Thorold Foundation 

## **Balance Sheet** 

## _As at 31[st] March 2022_ 

|_As a_|_t 31st March 2022_|||||
|---|---|---|---|---|---|
||||**Total**|**Prior Year**||
||||**Funds**|**Funds**||
|||**Note**|<br>**£**|£||
|**Fixed Assets**||||||
|•|Intangible Assets||**-**||-|
|•|Tangible Assets||**-**||-|
|•|Heritage Assets||**-**||-|
|•|Investments||**-**||-|
|**Total Fixed Assets**|||**-**||**-**|
|**Current Assets**||||||
|•|Stocks||**-**||-|
|•|Debtors|**4**|**4,189**||-|
|•|Investments||**-**||-|
|•|Cash at Bank and In Hand|**5**|**32,507**||-|
|**Total Current Assets**|||**36,696**||**-**|
|**Current Liabilities**||||||
|•|Creditors: Amounts Falling Due within One Year|**6**|**(1,218)**||**-**|
|**Net**|**Current Assets or Liabilities**||**35,478**||**-**|
|||||||
|**Total Assets Less Current Liabilities**|||**35,478**||**-**|
|**Non-Current Liabilities**||||||
|•|Creditors: Amounts Falling Due After More than One Year||**-**||**-**|
|**Net**|**Assets**||**35,478**||**-**|
|**The**|**Funds of the Charity**|||||
|•|Endowment Funds||**-**||**-**|
|•|Restricted Income Funds||**-**||**-**|
|•|Unrestricted Funds||**35,478**||**-**|
|**Total Charity Funds**|||**35,478**||**-**|



Approved by the trustees on 23[rd] January 2023 and signed on their behalf by: 

**Chris Thorold Chair of Trustees** 

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Louis Thorold Foundation **2022 Annual Report and Financial Statements** 

## **Notes to the Accounts** 

## **1. Accounting Policies** 

## Basis of Accounting 

The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. 

## Income Recognition 

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received, and the amount of income receivable can be measured reliably. 

Donations are recognised when the charity has been notified in writing of both the amount and settlement date.  In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity, and it is probable that those conditions will be fulfilled in the reporting period. 

Gift Aid receivable is included in income when there is a valid declaration from the donor.  Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise. 

Legacy gifts are recognised on a case-by-case basis following the granting of probate when the administrator/executor for the estate has communicated in writing both the amount and settlement date.  In the event that the gift is in the form of an asset other than cash, or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title to the asset having been transferred to the charity. 

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity, this is normally upon notification of the interest paid or payable by the bank. 

## Expenditure and Liabilities 

Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty. 

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All expenditure is accounted for on an accrual basis.  All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings. 

Costs associated with raising funds include fees charged by various donation platforms in both processing the relevant donation and managing the claim for gift aid from HMRC.  Governance costs are included in this amount which comprise of all costs involving the public accountability of the charity and its compliance with regulation and good practice.  Support costs are also included in this amount which comprise of marketing costs, website and accounting fees. 

## Going Concern Basis of Accounting 

The accounts have been prepared on the assumption that the charity is able to continue as a going concern, which the trustees consider appropriate having regard to the current level of unrestricted reserves. There are no material uncertainties about the charity's ability to continue as a going concern. 

## Funds Accounting 

Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity. All funds in this reporting period are unrestricted. 

## **2. Income** 

Income for the year was primarily derived from donations some of which met the criteria for gift aid under the UK HMRC scheme.  At the period end £4,107 was due from HMRC in respect of gift aid receivable and is disclosed as a Debtor in the Balance Sheet.  All amounts were paid shortly after the year end. 

||**Unrestricted**|<br>**Restricted**||**Endowment**|**Total**|**Prior Year**||
|---|---|---|---|---|---|---|---|
||**Funds**|**Income**||**Funds**|**Funds**|**Funds**||
|||**Funds**||||||
||£|£||£|**£**|£||
|Donations and Gifts|31,570|<br>|-|<br>-|<br>**31,570**||-|
|Gift Aid|5,325|<br>|-|<br>-|<br>**5,325**||-|
|Other|-|<br>|-|<br>-|<br>**-**|||
|**Total**|**36,895**|<br>|**-**|<br>**-**|<br>**36,895**||**-**|



During the period ending 31[st] March 2021 all income was attributable to unrestricted funds. 

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Louis Thorold Foundation **2022 Annual Report and Financial Statements** 

## **3. Expenditure** 

During the year £618 of expenditure was incurred by the Chair of Trustees Chris Thorold who uses his credit card for certain charity purchases where this is required.  This was reimbursed on 24[th] August 2022 following approval from the Trustees.  This is shown at a current liability in the balance sheet and disclosed as a related party transaction. 

||**Unrestricted**|<br>**Restricted**||**Endowment**|**Total**|**Prior Year**||
|---|---|---|---|---|---|---|---|
||**Funds**|**Income**||**Funds**|**Funds**|**Funds**||
|||**Funds**||||||
||£|£||£|**£**|£||
|Donation Processing Fees|200||-|-|**200**|<br>|-|
|Social Media Advertising|131||-|-|**131**|<br>|-|
|Website and Domain Costs|220||-|-|**220**||-|
|Creative and Marketing Costs|267||-|-|**267**|<br>|-|
|Independent Examination Fees|600||-|-|**600**|||
|**Total**|**1,418**||**-**|**-**|**1,418**|<br>|**-**|



Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Governance costs are the costs associated with the governance arrangements of the charity, including the costs of complying with constitutional and statutory requirements and any costs associated with the strategic management of the charity’s activities. The total cost of these activities for the year totalled £600. 

These costs have been allocated between cost of raising funds and expenditure on charitable activities based on the proportion of cost as follows: 

||**Allocation**||**Total Funds**||
|---|---|---|---|---|
||**%**||£||
|Raising Funds||**100%**||-|
|Charitable Activities||**-**||-|
|**Total**||**100%**||**-**|



## **4. Debtors** 

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 

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||**Total**||**Prior Year**||
|---|---|---|---|---|
||**Funds**||**Funds**||
||**£**||£||
|Debtors – Donations in Process||**82**||-|
|Debtors – HMRC (Gift Aid)||**4,107**||-|
|Prepayments||**-**||-|
|**Total**||**4,189**||**-**|



## **5. Cash at Bank and In Hand** 

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 

## **6. Current Liabilities** 

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. 

||**Total**||**Prior Year**||
|---|---|---|---|---|
||**Funds**||**Funds**||
||**£**||£||
|Amounts due to Trustee Chris Thorold||**618**|<br>|-|
|Accrual for Independent Examination Fee||**600**||-|
|**Total**||**1,218**|<br>|**-**|



## **7. Related Party Transactions** 

The trustees all give freely their time and expertise without any form of remuneration or other benefit in cash or kind.  No expenses were paid to any trustee during the year. 

During the year the Chairman of the trustees Chris Thorold incurred costs totalling £618 on behalf of the charity using his personal credit card, for social media advertising with Meta (£132), website and domain costs for www.louisthorold.com (£220) and subscription costs for Adobe Creative Cloud (£245) and to obtain the image rights to the logo (£22).  These costs were reimbursed to Chris Thorold on 24[th] August 2022 following approval by the Trustees.  This amount is shown as a current liability in the Balance Sheet. 

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Louis Thorold Foundation **2022 Annual Report and Financial Statements** 


**20**