## **2023** 


**Annual Report and Financial Statements** For the Year Ended 31[st] March 2023 Registered Charity Number 1194891 




Louis Thorold Foundation **2023 Annual Report and Financial Statements** 

## **Trustees Annual Report for Year Ended 31[st] March 2023** 

## **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 2023. and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

**Trustees Christopher James Thorold** (Chairman) **Gaynel Hamilton** _Appointed 30[th] November 2023_ **Sioned Griffiths** _Appointed 30[th] November 2023_ **Darryl Matthews** _Appointed 30[th] November 2023_ **Rachael Louise Ann Thorold** _Resigned 30[th] November 2023_ **Richard James Thorold** _Resigned 9[th] December 2022_ **Claire Nicole Jane Ashworth** _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 

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website.  The charity aims to follow the Charity Governance Code and plans to undertake a maturity assessment against the code in 2024. 

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 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 were £51,820 (2022: £35,478). These funds allow operations to continue into the following financial year whilst we develop the longerterm 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. 

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Louis Thorold Foundation **2023 Annual Report and Financial Statements** 

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 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 re-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 21[st] January 2024 and signed on their behalf by: 

## Chris Thorold 

## **Chris Thorold Chair of Trustees** 

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I report to the trustees on my examination of the accounts of Louis Thorold Foundation (the CIO) for the year ended 31[st] March 2023, 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 



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. 


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) 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: 22[nd] January 2024 **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 **2023 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 Brit** .  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 2022: 

- **45 children were killed** 


(2019: 39) 

- **2,245 seriously injured** (2019: 2,172) 

- **11,864 were casualties** requiring hospital treatment 

- **Globally road traffic injuries are the leading cause of death in children** with over 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 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 c 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, prevented. 

Following the serious injuries to 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>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 **2023 Annual Report and Financial Statements** 

## **Achievements and Performance** 

## **Love 20** 


Plenty campaign which asks for a speed limit of 20mph to be normal in residential areas and in town and village centres.  The United Nations (UN) General Assembly endorses 20mph where vehicles and people mix and where this has been implemented there have been significant measurable reductions in road deaths, decreases in pollution and more communities walking, cycling and using the roads. 

During the period we continued to support these campaigns 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. 


This has now been implemented across over 20 villages in Cambridgeshire with a further 88 applications from community groups, parish and town councils requesting funding to implement.  Both Wales and Scotland have also committed to 20mph as the default urban speed limit following many European countries. 


During 2022 the subject of ensuring all drivers are safe was tested in court during a criminal trial and subsequent highlighted significant weaknesses and failings in ensuring that as we get older there is an objective way of assuring medical fitness to drive without placing undue burden on relatives or medical professionals. 

Between 2004 and 2022 the number of drivers aged 70 or older killed or seriously injured (KSI) , a 5% increase.  This is contrasted against all KSI casualties which fell from 37,268 to 20,371, a 45% decrease. 

This is particularly stark when compared to how many are casualties per billion miles driven where the rates of those killed or seriously injured increase dramatically as we get older.  Whilst there are other factors which mean that as we get older, we are more vulnerable to injury, a significant factor is our general medical ability. 

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_For More Information visit: https://www.gov.uk/government/statistics/reported-roadcasualties-great-britain-older-and-younger-driver-factsheets-2022/reported-road-casualtiesin-great-britain-older-driver-factsheet-2022._ 

According to these statistics a higher proportion of these deaths and serious injuries are caused by errors in judgement caused by abilities deteriorating and tend to happen at times where children and vulnerable road users are present. 

The Louis Thorold Foundation has long advocated that self-declaration of medical ability to drive is not appropriate, particularly where individuals themselves cannot accurately judge their own ability appropriately, as with dementia and similar conditions.  The UK is one of the only developed countries in the world that allows self-declaration. 

This has culminated in a consultation on the topic in July 2023 in which the UK Department for Transport (DFT) requested evidence from the wider industry and stakeholders regarding licencing for those with medical conditions.  Whilst the charity appreciates this is a difficult topic to discuss, ensuring people are medically fit to drive is very different from simply testing elderly drivers.  As drivers get older the likelihood of us having medical conditions that affect sight, hearing or perception greatly increases. 

Whilst the charity does not wish to diminish attempts to prevent deaths for other causes more prevalent in younger drivers (such as inexperience, speeding, drink driving, etc) being medically fit to drive is a significant challenge for us all as our population becomes older.  As such, we will continue to advocate ensuring we are all safe and of an appropriate medical standard fit to drive. 

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Louis Thorold Foundation **2023 Annual Report and Financial Statements** 

## **Other Campaigns** 

The charity continues to advocate road safety from the perspective of children, supporting VisionZero initiatives along with consulting with central and local government and other groups to ensure representation.  The charity believes that if the road system is designed to be safe for children, other road users, particularly those who are inherently vulnerable, will benefit and the UK will begin to reduce road deaths and serious injuries as it was during the 80s and 90s. 

_Every death or injury is a life changed and a family turned upside down by events that are technologically preventable.  We will not stop until no child dies or is injured on our roads._ 

## **Our Elephant** 

with crinkly ears that meant so much to him.  The charity logo represents so much more than simply a picture, it is about love, courage, belief and a reminder not only to never forget Louis, but mark a point in history where things change for the better. 

During 2022 we commissioned turning our 2-dimensional logo into a real elephant toy. donors and fundraisers can get hold of one. 


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## **Fundraising** 

Throughout 2023 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 some of our amazing donors: 

## ▪ **Three Peaks in One Day** 

Thank you to our friends at Levanter who completed the three peaks within 24 hours, raising £32,760 split 50:50 between our charity and the NHS Sheldon Cancer Unit at the Good Hope Hospital in Surrey in memory of Kevin Garlap Tsang who passed away in 2021.  Thank you so much to those who completed the challenge and those who donated. 

## ▪ **Great North Run 2022** 

Thank you to Katy Deeble and Louise Sloan who completed the Great North Run half marathon in 2022 raising over £2,000 for our charity.  Having now completed this challenge ourselves in 2023 we are incredible impressed and grateful to Katy and Lou and all those who donated. 

We continue to be overwhelmed with those who support us each month and donate to support our campaigns. 

Thank you so much to everyone who supported us this year 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. 

For more details of fundraising and how to donate please visit our website: https://www.louisthorold.com/donate 

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Louis Thorold Foundation **2023 Annual Report and Financial Statements** 



**12** 




## **Financial Review** 

The Louis Thorold Foundation is entirely funded by donations from individuals and companies.  In the period the charity generated £23,576 (2022: 36,895) from a variety of sources: 

|**Source**|**Total**|
|---|---|
|Donations - No Gift Aid|**4,228**|
|Gift Aid Claimed|**822**|
|Donations - Gift Aid Claimable|**2,917**|
|Donations from Companies|**15,600**|
|Interest from HMRC|**9**|
|**Total Income**|**23,576**|



During the period the charity commissioned 500 plush elephant toys costing £4,458. These were delivered to the charity in October 2023 and the trustees are still considering how best these will be used, with likely uses including, gifting to children in hospital as a result of road traffic collisions, raising awareness of the charity and potentially selling to raise further funds.  The charity also commissioned pin badges (£418) and business cards (£50) to further raise brand awareness. 

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 £356 (2022: £200). 

The charity incurs operating costs of £878 (2022: £618) associated with the administration and raising awareness of the charity.  These are further detailed in the notes to the accounts.  Fees associated with the independent examination of the were £960 (2022: £600). 

The charity is yet to determine how best to spend the funds raised and at the year-end held unrestricted cash reserves £52,687 (2022: £32,507) with £46 (2022: £4,189) being due from HMRC and donation platforms.  The trustees spend significant time advocating the charitable objectives which requires little expenditure. 

There are no material uncertainties that the Trustees would consider that cast doubt on 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 **2023 Annual Report and Financial Statements** 

## The Louis Thorold Foundation 

## **Statement of Financial Activities** 

_For the Year Ended 31[st] March 2023_ 

||||**Restricted**||||
|---|---|---|---|---|---|---|
|||**Unrestricted**|**Income**|**Endowment**|**Total**|**Prior Year**|
|||**Funds**|**Funds**|**Funds**|**Funds**|**Funds**|
||**Note**|<br>£|£|£|**£**|£|
|_Income & Endowments from:_|||||||
|Donations & Legacies||23,567|-|-|**23,567**|36,895|
|Charitable activities||-|-|-|**-**|-|
|Other trading activities||-|-|-|**-**|-|
|Investments||-|-|-|**-**|-|
|Other||9|-|-|**9**|-|
|**Total Income & Endowments**|**2**|**23,576**|**-**|**-**|**23,576**|**36,895**|
|_Expenditure on:_|||||||
|Raising funds||(7,234)|-|-|**(7,234)**|(1,417)|
|Charitable activities||-|-|-|**-**|-|
|Other||-|-|-|**-**|-|
|**Total Expenditure**|**3**|**(7,234)**|**-**|**-**|**(7,234)**|**(1,417)**|
|Net gains/(losses) on invest||-|-|-|**-**|-|
|**Net income/(expenditure)**||**16,342**|**-**|**-**|**16,342**|**35,478**|
|Extraordinary items||-|-|-|**-**|-|
|Transfers between funds||-|-|-|**-**|-|
|_Other recognised gains/(losses):_|||||||
|Gains/losses on reval of FA||-|-|-|**-**|-|
|Other gains/(losses)||-|-|-|**-**|-|
|**Net movement in funds**||**16,342**|**-**|**-**|**16,342**|**35,478**|
|**Reconciliation of funds:**|||||||
|Total funds brought forward||35,478|-|-|**35,478**|-|
|**Total funds carried forward**||**51,820**|**-**|**-**|**51,820**|**35,478**|



All of the above results are derived from continuing activities. There were no recognised gains or losses other than those stated above. All funds received in both the current year and the prior year were unrestricted. 

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## The Louis Thorold Foundation **Balance Sheet** 

## _As at 31[st] March 2023_ 

|||**Total**|**Prior Year**|
|---|---|---|---|
|||**Funds**|**Funds**|
||**Note**|<br>**£**|£|
|**Fixed Assets**||||
|Intangible Assets||**-**|**-**|
|Tangible Assets||**-**|**-**|
|Heritage Assets||**-**|**-**|
|Investments||**-**|**-**|
|**Total Fixed Assets**||**-**|**-**|
|**Current Assets**||||
|Stocks||**-**|**-**|
|Debtors|**4**|**93**|**4,189**|
|Investments||**-**|**-**|
|Cash at Bank and In Hand|**5**|**52,687**|**32,507**|
|**Total Current Assets**||**52,780**|**36,696**|
|**Current Liabilities**||||
|Creditors: Amounts Falling Due within One Year|**6**|**(960)**|**(1,218)**|
|**Net Current Assets or Liabilities**||**51,820**|**35,478**|
|||||
|**Total Assets Less Current Liabilities**||**51,820**|**35,478**|
|**Non-Current Liabilities**||||
|Creditors: Amounts Falling Due After More than One Year||**-**|**-**|
|**Net Assets**||**51,820**|**35,478**|
|**The Funds of the Charity**||||
|Endowment Funds||**-**|**-**|
|Restricted Income Funds||**-**|**-**|
|Unrestricted Funds||**51,820**|**35,478**|
|**Total Charity Funds**||**51,820**|**35,478**|



Approved by the trustees on 21[st] January 2024 and signed on their behalf by: 

## Chris Thorold 

## **Chris Thorold Chair of Trustees** 

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Louis Thorold Foundation **2023 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. 

||**Unrestricted**|**Restricted**||**Endowment**|<br>**Total**|**Prior Year**|
|---|---|---|---|---|---|---|
||**Funds**|**Income**||**Funds**|**Funds**|**Funds**|
|||**Funds**|||||
||£|£||£|**£**|£|
|Donations and Gifts|22,745||-|-|<br>**22,745**|31,570|
|Gift Aid|822||-|-|<br>**822**|5,325|
|Other|9||-|-|<br>**9**|-|
|**Total**|**23,576**||**-**|**-**|<br>**23,576**|**36,895**|



At the period end £22 was due from HMRC in respect of gift aid receivable (2022: £4,107) and is disclosed as a Debtor in the Balance Sheet.  All amounts were paid shortly after the year end. During the period all income was attributable to unrestricted funds. 

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Louis Thorold Foundation **2023 Annual Report and Financial Statements** 

## **3. Expenditure** 

|||**Unrestricted**|**Restricted**||**Endowment**|<br>**Total**|**Prior Year**|
|---|---|---|---|---|---|---|---|
|||**Funds**|**Income**||**Funds**|**Funds**|**Funds**|
||||**Funds**|||||
|||£|£||£|**£**|£|
|**Support Costs:**||||||||
|▪|Donation Processing Fees|356||-|-|<br>**356**|<br>200|
|▪|Social Media Advertising|560||-|-|<br>**560**|<br>131|
|▪|Website and Domain Costs|137||-|-|<br>**137**|<br>220|
|▪|Creative and Marketing Costs|<br>181||-|-|<br>**181**|<br>266|
|▪|Plush Elephant Toys|4,458||-|-|<br>**4,458**|<br>-|
|▪|Pin Badges & Business Cards|468||-|-|<br>**468**|<br>-|
|**Governance Costs:**||||||||
|▪|Accounting Software|114||-|-|<br>**114**|<br>-|
|▪|Independent Examination|960||-|-|<br>**960**|<br>600|
|**Total**||**7,234**||**-**|**-**|<br>**7,234**|<br>**1,417**|



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 The total cost of these activities for the year totalled £1,074 (2022: 600) relating to independent examination costs and accounting software Sage. 

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**|**Prior Year**|**Prior Year**|
|---|---|---|---|---|
||||**Allocation**|**Funds**|
||**_%_**|**£**|_%_|£|
|Raising Funds|**_100%_**|**7,234**|_100%_|1,417|
|Charitable Activities|**_-_**|**-**|_-_|-|
|**Total**|**_100%_**|**7,234**|**_100%_**|**1,417**|



## **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<br>Donations in Process||**24**||**82**|
|Debtors<br>HMRC (Gift Aid)||**22**||**4,107**|
|Prepayments||**47**||**-**|
|**Total**||**93**||**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 Trustees||**-**||618|
|Accrual for Independent Examination Fee||**960**||600|
|**Total**||**960**|<br>|**1,218**|



## **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 (2022: £Nil). 

During the year, the charity received total donations without conditions from related parties of £nil (2022: £16,427). There were no amounts outstanding at year end (2022: none). 

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Louis Thorold Foundation **2023 Annual Report and Financial Statements** 


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