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2024-12-31-accounts

Registered Charity No. 1201643

TRUSTEES’ ANNUAL REPORT – 1 OCTOBER 2023 31 DECEMBER 2024

Thai Children Foundation (TCF) Trustees’ Annual Report 2024

1. Charity Overview

2. Reference and Administration of the Charity

2.1 Trustees and Their Terms:

Trustee Name Position Dates acted
Mrs Ladawan Wilson Founder & Chair 19/01/2023 - Present
Mrs Sohpita Tuck Founding Trustee & Treasurer 19/01/2023 - Present
Dr Kwansuree Jiamton Founding Trustee & Board Secretary 19/01/2023 - Present
Mr Bhatsakorn Kota Founding Trustee 19/01/2023 - Present
Mr Herbert Tuck Founding Trustee 19/01/2023 - Present

2.2 Governing document

TCF is constituted as a Charitable Incorporated Organisation (CIO). The governing document is the CIO constitution adopted on 19 January 2023.

2.3 Structure and decision-making

TCF is governed by its Board of Trustees. The trustees meet at least 1–2 times per year to steer strategy, oversee finances and risk, and ensure effective governance and safeguarding. Decisions are minuted, and actions are monitored between meetings.

2.4 Recruitment and induction of trustees

No new trustees were appointed during the reporting period. The existing Board, which includes the five founding trustees, continued their service throughout. As a result, no new inductions took place. The trustees regularly review the board's composition and skills to ensure effective governance and plan to establish an advisory board to support future trustee development and succession planning.

2.5 Organisational structure and management

TCF operates as a small, hands-on team. Trustees share operational responsibilities and are supported by volunteers for specific activities (e.g. UK fundraising events). In Thailand, local Key Contacts act as our eyes and ears on the ground—overseeing delivery, checking on beneficiaries, and reporting regularly to the Board.

The Director undertakes an annual in-person visit to local projects and meets Key Contacts to understand needs first-hand and resolve issues promptly. To broaden external insight while maintaining a lean structure, the Board has agreed to establish a Strategic Advisory Board whose members will provide guidance on strategy and may be considered for future trustee roles if appropriate.

3. Charity’s Purposes, Aims and Activities

3.1 Charitable purposes (objects)

As set out in the constitution, TCF exists to relieve poverty and sickness and to advance education for public benefit in Thailand. We aim to improve the quality of life for children and young people from socially and economically disadvantaged backgrounds by providing essential resources—such as school meals, clothing, educational support, and assistance with health and wellbeing—where these needs are not met by local authorities.

3.2 Aims for the reporting period

3.3 Activities undertaken (1 Oct 2023 – 31 Dec 2024)

Our activities in the period were focused and practical, designed to meet immediate needs while laying foundations for sustained impact:

4. Public Benefit

The trustees confirm that they have had due regard to the Charity Commission’s guidance on public benefit in accordance with section 17 of the Charities Act 2011.

TCF’s activities advance education and welfare for children in Thailand who would otherwise face hardship or exclusion. We review eligibility, beneficiaries, and outcomes annually to ensure clear public benefit and appropriate use of resources.

5. Achievements and Performance

5.1 Key achievements

We provided grants and scholarships to children in seven schools and one community project in northern Thailand, covering school lunches, sports equipment, school uniforms, educational grants, and enrichment activities.

A restricted programme supported a child with neurodisability for over five years until her passing in 2024—demonstrating TCF’s long-term commitment to care. Governance and safeguarding processes remained strong throughout the period.

5.2 Unrestricted funds raised in the UK

Table 1: Summary of Unrestricted Funds Raised

Source Amount (£)
Fundraising Activities (3 events) 3,970.38
General Donations 1,419.31
Gift Aid & Bank Interest 41.73
Total Unrestricted Funds Raised 5,431.42

Demand for support exceeded expectations, with more requests than anticipated. In December 2024, a major donor, inspired by TCF’s work and visits to many charitable organisations in Thailand that work to support disabled children and children from disadvantaged backgrounds, contributed £30,000—providing a foundation for expansion in 2025.

6. Financial Review

6.1 Overview

For the 15-month period ending 31 December 2024, total incoming resources were £56,401.05 and total resources expended were £10,126.32 , resulting in a net surplus of £46,274.73 .

This apparent surplus reflects timing rather than underspending . TCF began the period with £16,331.25 transferred from the Anglo-Thai Foundation (ATF) legacy, which formed the basis of the 2024 budget and guided spending decisions throughout the year. In December 2024, a further £30,000 donation was received from a principal donor to expand charitable work in 2025. These late-year funds increased the year-end total income but were reserved for forthcoming projects.

Expenditure during the period was consistent with the approved budget plan and the trustees’ prudent approach to financial management. The trustees maintain unrestricted reserves equivalent to three to six months of anticipated operating costs (approximately £3,000–£6,000 ) and review this policy annually to ensure adequacy and proportionality.

During the reporting period, the charity maintained its principal account with CAF Bank (UK) and two small Thai bank accounts opened for operational use during trustee visits to Thailand. In line with CAF Bank’s compliance guidance, these accounts have remained inactive and are under review for closure or transfer of balances back to the UK. The combined balances, totalling approximately £337 , are fully reconciled and reported separately for transparency.

6.2 Financial Summary

Table 2: Financial Summary for the Period

Description Amount (£)
Total Income 56,401.05
Total Expenditure 10,126.32
Net Surplus for the Period 46,274.73
Unrestricted Reserves on 31 Dec 2024 5,085.00
Major Donation (Dec 2024) 30,000.00

6.3 Budget Implementation and Performance

Building on the ATF legacy funds carried forward, TCF implemented its 2024 budget plan of £15,000, allocated across core priorities as shown below.

Table 3: Budget Allocation Plan

Budget Category Planned
Budget (£)		 Notes/ Purpose
Educational Grants & Scholarships 5,000 School lunches, uniforms, learning
resources and community activities
Hardship Funds 2,000 Emergency support for children or
families facing crisis situations
Operational Costs
(incl. Office Supplies)		 2,000 Routine administrative cost,
communications and equipment for field
operations.
Contingency Reserve 1,000 For unforeseen expenses or currency
fluctuations.
Reserved Fund 5,000 Unrestricted reserves for future
sustainability (3-6 months operating
costs).
Total Planned Budget 15,000

Table 4 below compares the approved 2024 budget with actual expenditure for the period, highlighting prudent financial management and underspends retained as reserves.

Table 4: Budget vs Actual Expenditure (1 Oct 2023 – 31 Dec 2024)

Budget Category Budget (£) Actual (£) Variance
(£)		 Notes
Educational Grants &
Scholarships (Unrestricted)		 5,000.00 3,178.00 (1,822.00) Balance carried forward
for 2025 grants.
Health & Well-being
(Restricted)		 – 4,638.38 +4,638.38 Funded care for a child
with neurodisability;
reimbursed by donor.
Hardship Funds 2,000.00 0.00 (2,000.00) Held in reserve pending
future applications.
Operational Costs (incl.
Office Supplies)		 2,000.00 2,309.94 +309.94 Slight overspend from
handset and field
logistics costs.
Contingency Reserve 1,000.00 0.00 (1,000.00) Not used; retained for
future unforeseen
needs.
Total Expenditure 10,000.00 10,126.32 +126.32 Spending remained
within planned levels
(approx. 1 % above
budget).

Actual expenditure for the period was closely in line with the approved budget plan .

Total spending of £10,126.32 was prudent and proportionate to the funds available, with lower spending in hardship and contingency allocations helping to maintain liquidity at year-end.

The trustees maintained a reserved fund of £5,000 as planned, providing financial stability and continuity of operations. The restricted expenditure of £4,638.38 for caring for a child with a neurodisability was initially advanced from TCF’s funds to maintain continuity of care and was later reimbursed by the long-standing donor who has supported this case since the AngloThai Foundation. This reimbursement allowed the Foundation to restore its unrestricted reserves as planned.

The trustees consider the overall financial outcome consistent with responsible management and an appropriate reserve position for the next reporting period.

6.4 Income Sources and Financial Outlook

The Foundation’s income during the period came from a combination of legacy funds, individual donations, fundraising events in the UK, and one major donor contribution . This balanced funding base provided both stability and scope for future growth.

Unrestricted income—raised mainly through small community fundraising activities and public donations—supported educational grants, operational costs, and administrative expenses . Restricted income related to the ongoing support of a child with a neurodisability, which was fully reimbursed by the donor following completion of the project.

Looking ahead, the trustees aim to broaden and strengthen income generation through increased UK-based fundraising, development of new grant applications, and the cultivation of long-term donor partnerships. This approach will ensure the sustainable delivery of TCF’s charitable objectives while maintaining sufficient reserves to manage any timing differences between income and expenditure.

6.5 Risk Management

The Board maintains a risk register , reviewed at each meeting. Principal risks include:

Mitigation measures include conservative budgeting and reserves , staged grant releases linked to interim reports , close liaison with local key contacts , and ongoing scenario planning .

The trustees have reviewed potential insurance needs in relation to TCF’s current activities and determined that no formal cover is required at this stage. This position will be reviewed periodically as the charity’s operations expand.

7. Structure, Governance and Management

The Thai Children Foundation (TCF) is governed by its Board of Trustees in accordance with its constitution as a Charitable Incorporated Organisation (CIO) .

The Board currently comprises five founding trustees , all of whom have served since registration in January 2023. Trustees give their time voluntarily and receive no remuneration. The charity is committed to maintaining high standards of management and accountability, guided by the principles of the Charity Governance Code, where relevant to a small CIO. While some formal processes are still being developed, the trustees ensure good practice through clear communication, accurate record-keeping, and regular discussion of key issues. Conflict-of-interest declarations are reviewed periodically, and minutes are kept of all Board meetings to document decisions and accountability. Although a formal self-assessment framework has not yet been introduced, trustees continue to reflect on and share ideas for strengthening governance and operations as it evolves.

Operationally, the charity is managed by its trustees and supported by volunteers who assist with specific activities, such as fundraising and public communications.

In Thailand, TCF’s programme delivery is supported by local key contacts , including senior teachers and community representatives acting in a voluntary capacity. They help oversee projects , identify needs, gather feedback, and monitor outcomes on behalf of the Board. These individuals serve as trusted points of contact between the Foundation and partner schools or communities, ensuring that activities are relevant and effectively managed.

The Director undertakes an annual on-site visit to meet beneficiaries and partners in person, strengthening relationships and ensuring that all work remains aligned with TCF’s charitable objectives and governance standards.

As the Foundation’s activities have expanded, the trustees have recognised the need to enhance administrative capacity and internal systems to support continued effectiveness.

Measures have been introduced to improve efficiency through clearer processes, updated digital tools, and skills development. During the year, trustees participated in introductory financial management training , and further learning opportunities are planned to build digital and operational capabilities.

Towards the end of 2024, the trustees identified a need to provide clearer public information about TCF’s grant processes . While existing procedures ensured careful oversight of all grants, the trustees agreed that greater transparency would help prospective applicants better

understand eligibility, timelines, and reporting expectations. Work began on developing grant guidance materials and exploring a more structured grant management system for future use.

Given the charity’s modest scale and income level, the trustees determined that an independent examination , rather than a full audit, was appropriate for the 2024 financial statements in accordance with the Charities Act 2011 . Following due consideration, the Board appointed Ms Arrada Sewell of Sterling Accounting and Partners Limited to conduct the examination.

The trustees continue to review governance arrangements as the charity grows and plan to establish a Strategic Advisory Board to bring additional expertise and support succession planning. This advisory group will provide external insight and help guide the Foundation’s strategic direction as activities expand.

8. Plans for Future Periods (2025)

Building on the progress made in 2024, the trustees plan to extend the Foundation’s reach and deepen its impact in Thailand during the 2025 financial year. The focus for the coming period is to strengthen programmes, partnerships, and internal systems so that growth remains sustainable and aligned with TCF’s charitable objectives.

The main priorities for the year ahead are:

  1. Expansion of Educational Grants and Scholarships – Extend support programmes to reach more children from disadvantaged backgrounds, focusing on access to education, nutrition, and essential learning resources.

  2. Strengthening Partnerships and Local Capacity – Work more closely with partner schools, local contacts, and community organisations to enhance reporting, accountability, and sustainable delivery of educational and welfare projects.

  3. Diversifying Income and Fundraising – Aim to raise approximately £4,000 in unrestricted income through UK-based fundraising events, individual giving, and online campaigns, while cultivating relationships with new donors and charitable trusts to strengthen long-term financial stability.

  4. Strategic and Governance Development – Establish the Strategic Advisory Board to provide expert guidance and broaden leadership capacity. The trustees will also review key policies, including safeguarding, reserves, and financial management procedures, ensuring they remain proportionate to the charity’s scale and ambitions.

  5. Monitoring, Evaluation, and Learning – Introduce a more structured approach to monitoring project outcomes and capturing lessons learned, improving the effectiveness of future grant-making and enhancing transparency for donors and stakeholders.

These priorities will be supported by the major donation received in December 2024 , which provides the financial foundation for expanding operations in 2025.

The trustees remain committed to prudent financial management , maintaining a sustainable reserves position, and ensuring full compliance with all regulatory obligations.

9. Statement of Trustees’ Responsibilities

The following statement confirms the trustees’ responsibilities for the preparation and approval of this report and the charity’s financial statements.

The trustees are responsible for preparing the Trustees’ Annual Report and the accompanying Receipts and Payments Accounts in accordance with the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008 .

The law requires the trustees to ensure that the charity keeps proper accounting records which accurately record all money received and paid out during the financial year, and that the accounts and reports are prepared in the correct form for submission to the Charity Commission. The trustees are responsible for safeguarding the charity's assets and for taking reasonable steps to prevent and detect fraud and other irregularities. They are also responsible for ensuring that the Trustees’ Annual Report and accounts are made available to the Charity Commission and to members of the public on request.

The trustees have approved these accounts as representing a true, fair and complete summary of the charity’s financial activities for the reporting period.

10. Approval

The trustees declare that they have approved the Trustees’ Annual Report for the period 1 October 2023 to 31 December 2024.

This report is signed on behalf of the charity’s trustee:

Signature:
Full Name: Mrs Ladawan Wilson
Position: Founder & Chair
Date: 08/11/2025

Thai Children Foundation (TCF)

No (if any)

Receipts and payments accounts

CC16a

For the period 01-Oct-23 31-Dec-24 To from

Section A Receipts and payments

A1 Receipts Unrestricted
funds
to the nearest £
46,331
3,970
1,419
10
32
-
-
-
51,763
-
-
-
51,763		 Unrestricted
funds
to the nearest £
46,331
3,970
1,419
10
32
-
-
-
51,763
-
-
-
51,763		 Restricted funds
to the nearest £
4,638
-
-
-
-
-
-
-
4,638
-
-
-
4,638		 Restricted funds
to the nearest £
4,638
-
-
-
-
-
-
-
4,638
-
-
-
4,638		 Endowment
funds
to the nearest £
-
-
-
-
-
-
-
-
-
-
-
-
-		 Endowment
funds
to the nearest £
-
-
-
-
-
-
-
-
-
-
-
-
-		 Total funds
to the nearest £
50,970
3,970
1,419
10
32
-
-
-
56,401
-
-
-
56,401		 Total funds
to the nearest £
50,970
3,970
1,419
10
32
-
-
-
56,401
-
-
-
56,401		 Last year
to the nearest £

Funding		 46,331 -
Fundraising Activities 3,970 -
General Donations 1,419 -
Gift Aids 10 -
Interest received 32 -
- -
- -
- -
Sub total(Gross income for AR) 51,763 -
A2 Asset and investment sales,
(see table).
-
- -
Sub total - -
Total receipts
A3 Payments
-

Grantpayment		 3,178 4,638 - 7,816 -
Bank Fees 75 - - 75 -
Operational Supplies 500 500
Printing& Stationery 821 - - 821 -
Staff Development 228 - - 228 -
Subscriptions 220 - - 220 -
Website-Web HostingServices 466 - - 466 -
- - - - -
- - - - -
- - - - -
**Sub total ** 5,488 4,638 - 10,126 -
A4 Asset and investment
purchases, (see table)
-
-
**Sub total ** - -
Total payments
Net of receipts/(payments)
A5 Transfers between funds
A6 Cash funds last year end
Cash funds this year end
-
46,275 -
- -
- -
46,275 -

Section B Statement of assets and liabilities at the end of the period

CCXX R1 accounts (SS)
Categories
B1 Cash funds		 ~~1~~
Details
CAF Bank Current Account
CAF Bank Saving Account		 Unrestricted
funds
to nearest £
41,190
5,085
-		 Restricted funds
to nearest £
-
-
-		 Endowment
funds
to nearest £
CAF Bank Current Account 41,190 - -
CAF Bank Saving Account 5,085 - -
~~1~~ - - 04/11/2025
-

CCXX R1 accounts (SS)

Signed by one or two trustees on
behalf of all the trustees
B5 Liabilities
B3 Investment assets
B2 Other monetary assets
B4 Assets retained for the
charity’s own use		 Details
Details
Total cash funds
(agree balances with receipts and payments account(s))
Details
Details
Signature		 46,275
Dr Kwansuree Jiamton

CCXX R2 accounts (SS)

04/11/2025

2

Thai Children Foundation (TCF)

Registered Charity Number: 1201643

Independent Examiner’s Report

Financial Period: 1 October 2023 – 31 December 2024

Prepared in accordance with the Charities Act 2011 and the Charity Commission’s Independent Examination Directions (CC32).

Independent Examiner’s Report to the Trustees of Thai Children Foundation (TCF)

Registered Charity Number: 1201643

Financial Period: 1 October 2023 – 31 December 2024

Respective Responsibilities of Trustees and Examiner

The charity’s trustees are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). The trustees consider that an audit is not required for this year under section 144(2) of the Act and that an independent examination is required under section 145 of the Act. It is my responsibility to examine the accounts under section 145 of the Act, to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the Act, and to state whether particular matters have come to my attention.

Basis of Independent Examiner’s Report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, I do not express an audit opinion on the accounts.

Independent Examiner’s Statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Independent Examiner’s Details

Name: Mrs Arrada Sewell, MAAT (Member No. 20243556) Professional Body: Association of Accounting Technicians (AAT)

Firm: Sterling Accounting and Partners Limited Address: 2430/2440 The Quadrant, Aztec West, Bristol, BS32 4AQ

Date: 08 November 2025