**Charity registration number 214711** ## **THOMAS COOK'S MEMORIAL TRUST** **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31 DECEMBER 2022** ## **THOMAS COOK'S MEMORIAL TRUST** ## **LEGAL AND ADMINISTRATIVE INFORMATION** |**Trustees**|Mr A Dunnicliff| |---|---| ||Mr D Worrall| ||Mr G Frearson| ||Mr H Dunnicliff| ||Mr J N Hewlett| ||Mr N Collyer| ||Mr R Hunt| ||Mr T Cook| ||Mr T Statham| ||Mr T Summerlin| ||Mr C Temple-Richards| ||Mr S Tivey| |**Charity number**|214711| |**Principal address**|2 Bishops Court| ||Melbourne| ||Derbyshire| ||DE73 8LN| |**Independent examiner**|Philip Handley FCA| ||HSKSG| ||Chartered Accountants| ||18 St Christopher's Way| ||Pride Park| ||Derby| ||DE24 8JY| ## **THOMAS COOK'S MEMORIAL TRUST** ## **CONTENTS** ||**Page**| |---|---| |Trustees' report|1 - 3| |Independent examiner's report|4| |Statement of financial activities|5| |Balance sheet|6| |Notes to the financial statements|7 - 13| ## **THOMAS COOK'S MEMORIAL TRUST** ## **TRUSTEES' REPORT** ## _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ The Trustees present their annual report and financial statements for the year ended 31 December 2022. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Trust's governing document, the Charities Act 2011 and "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 charity aims to provide and maintain almshouses for poor persons of good character resident in Melbourne or within a distance of 25 miles therefrom who are members of any baptist denomination. The charity also aims to provide a mission hall for religious and educational purposes, lectures, bazaars, industrial and other exhibitions in connection with the general baptist denomination. ## **Volunteers** The Charity relies upon the services of the Trustees as unpaid volunteers. The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Trust should undertake. ## **Achievements and performance** ## **Charitable activities** The trustees have achieved their objective in maintaining the almshouses to the required standard for renting and providing a mission hall for the required purposes. ## **Financial review** ## **Principal funding sources** The Charity is reliant upon rental income from the residents for the majority of its income. ## **Repairs expenditure** Due to the age of the property held by the Charity, there are likely to be ongoing maintenance expenses required to keep them up to date and in a good state of repair. In the current period under review, there have been some significant costs incurred in relation to electrical upgrades to the cottages and mission hall, repairs and maintenance carried out to cottage flooring, replacing boilers along with further remedial works to the roof and chimney. ## **Reserves policy** The Trustees are satisfied with the current free reserves available for the year ended 31 December 2022. ## **Structure, governance and management** ## **Governing document** The charity is controlled by its governing document, a deed of trust dated 28 November 1890 as varied by scheme of 23 March 1973, and constitutes an unincorporated charity. - 1 - ## **THOMAS COOK'S MEMORIAL TRUST** ## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ The Trustees who served during the year and up to the date of signature of the financial statements were: Mr A Dunnicliff Mr D Worrall Mr G Frearson Mr H Dunnicliff Mr J N Hewlett Mr N Collyer Mr R Hunt Mr T Cook Mr T Statham Mr T Summerlin Mr C Temple-Richards Mr S Tivey ## **Recruitment and appointment of new trustees** Trustees may be appointed at any time. ## **Organisational structure** The Trustees, together with the secretary and treasurer, who are responsible for the day-to-day affairs, carry out the management of the Charity. ## **Induction and training of new trustees** On appointment, trustees are (depending on the level of their experience) briefed on their responsibilities as trustees and are provided with copies of the trust deed, financial statements and other relevant documents. As it is present policy only to appoint trustees with relevant experience, formal induction and training has not been considered necessary. **Registered Charity number** 214711 **Principal address** 2 Bishops Court Melbourne Derbyshire DE73 8LN **Independent Examiner** Philip Handley FCA Institute of Chartered Accountants in England and Wales HSKSG Chartered Accountants 18 St Christopher's Way Pride Park Derby DE24 8JY ## **Public Benefit** The Trustees have complied with the duty imposed by s4 Charities Act 2006 to have due regard to public benefit guidance published by that Charity Commission. - 2 - ## **THOMAS COOK'S MEMORIAL TRUST** ## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ The Trustees' report was approved by the Board of Trustees. Mr R Hunt **Trustee** 26 October 2023 - 3 - ## **THOMAS COOK'S MEMORIAL TRUST** ## **INDEPENDENT EXAMINER'S REPORT** ## **TO THE TRUSTEES OF THOMAS COOK'S MEMORIAL TRUST** I report to the Trustees on my examination of the financial statements of Thomas Cook's Memorial Trust (the Trust) for the year ended 31 December 2022. ## **Responsibilities and basis of report** As the Trustees of the Trust you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act). I report in respect of my examination of the Trust’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner's statement** Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. 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 that in any material respect: - 1 accounting records were not kept in respect of the Trust as required by section 130 of the 2011 Act; or - 2 the financial statements do not accord with those records; or - 3 the financial statements 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 financial statements to be reached. ## **Philip Handley FCA** HSKSG Chartered Accountants 18 St Christopher's Way Pride Park Derby DE24 8JY Dated: 26 October 2023 - 4 - ## **THOMAS COOK'S MEMORIAL TRUST** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** ## _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ ||||||||**Unrestricted**|**Restricted**|**Restricted**|**Total**|**Unrestricted**|**Restricted**|**Total**| |---|---|---|---|---|---|---|---|---|---|---|---|---|---| ||||||||**funds**||**funds**||**funds**|**funds**|| ||||||||**2022**||**2022**|**2022**|**2021**|**2021**|**2021**| |||||||**Notes**|**£**||**£**|**£**|**£**|**£**|**£**| |**Income from:**|||||||||||||| |Donations and|||||||||||||| |legacies||||||**2**|50||-|50|50|-|50| |Charitable activities||||||**3**|37,263||-|37,263|40,270|-|40,270| |Investments||||||**4**|1,346||932|2,278|1,058|941|1,999| ||||||||||||||| |**Total income**|||||||38,659||932|39,591|41,378|941|42,319| ||||||||||||||| |**Expenditure on:**|||||||||||||| |Charitable activities|||||||||||||| |expediture|||||||||||||| |Cottages||||||**5**|13,596||-|13,596|7,285|-|7,285| |Mission Hall||||||**5**|3,766||-|3,766|3,006|-|3,006| |Repairs to properties||||||**5**|60,479||-|60,479|19,393|-|19,393| ||||||||||||||| |**Total charitable**|||||||||||||| |**expenditure**|||||||77,841||-|77,841|29,684|-|29,684| ||||||||||||||| |Net gains/(losses)||||on|||||||||| |investments||||||**8**|(899)||(6,095)|(6,994)|2,384|(2,067)|317| ||||||||||||||| |**Net movement in funds**|||||||(40,081)||(5,163)|(45,244)|14,078|(1,126)|12,952| |Fund balances|||at 1 January||||||||||| |2022|||||||762,157||29,376|791,533|748,119|30,502|778,621| ||||||||||||||| |**Fund balances at 31**|||||||||||||| |**December**||**2022**|||||722,076||24,213|746,289|762,157|29,376|791,533| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 7 to 13 form part of these financial statements. - 5 - ## **THOMAS COOK'S MEMORIAL TRUST** ## **BALANCE SHEET** ## _**AS AT 31 DECEMBER 2022**_ ||||**2022**|||**2021**|| |---|---|---|---|---|---|---|---| ||**Notes**|**£**||**£**|**£**||**£**| |**Fixed assets**|||||||| |Tangible assets|**10**|||594,402|||594,415| |Investments|**11**|||52,167|||58,229| ||||||||| |||||646,569|||652,644| |**Current assets**|||||||| |Debtors|**12**|668|||610||| |Cash at bank and in hand||100,186|||139,629||| ||||||||| |||100,854|||140,239||| |**Creditors: amounts falling due within**|||||||| |**one year**|**13**|(1,134)|||(1,350)||| ||||||||| |Net current assets||||99,720|||138,889| ||||||||| |**Total assets less current liabilities**||||746,289|||791,533| |**Income funds**|||||||| |Restricted funds - Blackrock charities accumulation|||||||| |shares||24,213|||29,376||| ||||||||| |||||24,213|||29,376| |Unrestricted funds - general||||722,076|||762,157| ||||||||| |||||746,289|||791,533| The financial statements were approved by the Trustees on 26 October 2023 Mr N Collyer **Trustee** Mr R Hunt **Trustee** - 6 - ## **THOMAS COOK'S MEMORIAL TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ ## **1 Accounting policies** ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the Trust's [governing document], the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The Trust is a Public Benefit Entity as defined by FRS 102. The Trust has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling, which is the functional currency of the Trust. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. ## **1.2 Going concern** At the time of approving the financial statements, the Trustees have a reasonable expectation that the Trust has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. 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. ## **1.4 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. Cash donations are recognised on receipt. Other donations are recognised once the Trust has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Government grants have been recognised within the financial statements following receipt of the funds for government assistance. ## **1.5 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. - 7 - ## **THOMAS COOK'S MEMORIAL TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ ## **1 Accounting policies** ## **(Continued)** ## **1.6 Tangible fixed assets** Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Freehold land and buildings not provided Fixtures and fittings 25% on reducing balance The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. ## **1.7 Fixed asset investments** Fixed asset investments are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in net income/(expenditure) for the year. ## **1.8 Impairment of fixed assets** At each reporting end date, the Trust reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). ## **2 Donations and legacies** Donations and gifts |**Unrestricted **|**Unrestricted**| |---|---| |**funds**|**funds**| |**general**|**general**| |**2022**|**2021**| |**£**|**£**| |50|50| ## **3 Charitable activities** ||**Cottages**|**Mission Hall**|**Total**|**Cottages**|**Mission Hall**|**Total**| |---|---|---|---|---|---|---| ||||**2022**|||**2021**| ||**2022**|**2022**||**2021**|**2021**|| ||**£**|**£**|**£**|**£**|**£**|**£**| |Rent of cottages|33,546|-|33,546|39,230|-|39,230| |Hire of Mission Hall|-|3,717|3,717|-|1,040|1,040| |||||||| ||33,546|3,717|37,263|39,230|1,040|40,270| - 8 - f¥ 0 ¢ r¥ o) ¢ a) Lr> o o) O ¥> p kl ￿￿¢3)00 ¢YJ U)- (ry 0 ¢5) ￿ Lr) o {?￿-c￿¢>￿ trj io*oJ OuttCa￿v)Q)ttU ## **THOMAS COOK'S MEMORIAL TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ ## **6 Trustees** ## **TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021. ## **Trustees' expenses** For the year ended 31 December 2022, there were no trustee expenses reimbursed, however, for the year ended 31 December 2021 the following trustee expenses were included in sundry expenses: - Applications secretary expenses £25 - Treasurer expenses £25 All the above appointments are filled by trustees. ## **7 Employees** The average monthly number of employees during the year was: |||**2022**||**2021**| |---|---|---|---|---| ||**Number**||**Number**|| |Maintenance||1||1| |**STAFF COSTS**||||| |||**2022**||**2021**| |||**£**||**£**| |Wages and salaries||950||900| |||**------**||**------**| |||950||900| |||**====**||**====**| There were no employees whose annual remuneration was more than £60,000. ## **8 Net gains/(losses) on investments** ||**Unrestricted**|**Restricted**|**Total Unrestricted**|**Total Unrestricted**|**Restricted**|**Total**| |---|---|---|---|---|---|---| ||**funds**|**funds**||**funds**|**funds**|| ||**general**|||**general**||| ||**2022**|**2022**|**2022**|**2021**|**2021**|**2021**| ||**£**|**£**|**£**|**£**|**£**|**£**| |Revaluation of||||||| |investments|(899)|(6,095)|(6,994)|2,384|(2,067)|317| ## **9 Taxation** The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. - 11 - ## **THOMAS COOK'S MEMORIAL TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ ## **10 Tangible fixed assets** |**Tangible fixed assets**||||||| |---|---|---|---|---|---|---| ||**Freehold land**||
**Fixtures and**|||**Total**| ||**and**|**buildings**||**fittings**||| |||**£**||**£**||**£**| |**Cost**||||||| |At 1 January 2022||594,365||6,851||601,216| |||||||| |At 31 December 2022||594,365||6,851||601,216| |||||||| |**Depreciation and impairment**||||||| |At 1 January 2022||-||6,801||6,801| |Depreciation charged in the year||-||13||13| |||||||| |At 31 December 2022||-||6,814||6,814| |||||||| |**Carrying amount**||||||| |At 31 December 2022||594,365||37||594,402| |At 31 December 2021||594,365||50||594,415| The fifteen cottages and mission hall were constructed in the nineteenth century and there is no record of the original cost. A valuation was carried out in 1986 which stated the value to be £409,500. The cost of additions since that date has amounted to £184,865. Since 1986 the trust has not felt it necessary to incur the costs of another revaluation. ## **11 Fixed asset investments** ||**Unlisted**|**Unlisted**|| |---|---|---|---| ||**investments**||| |||**£**|| |**Cost or valuation**|||| |At 1 January 2022||58,229|| |Valuation changes||(6,062)|| ||||| |At 31 December 2022||52,167|| ||||| |**Carrying amount**|||| |At 31 December 2022||52,167|| |At 31 December 2021||58,229|| ## **12** ## **Debtors** |**Debtors**||| |---|---|---| ||**2022**|**2021**| |**Amounts falling due within one year:**|**£**|**£**| |Prepayments and accrued income|668|610| - 12 - ## **THOMAS COOK'S MEMORIAL TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_ ## **13 Creditors: amounts falling due within one year** ||||||||**2022**||**2021**| |---|---|---|---|---|---|---|---|---|---| ||||||||**£**||**£**| ||Accruals and deferred income||||||1,134||1,350| |**14**|**Analysis of net assets between funds**||||||||| ||**Unrestricted**||
**Restricted**|
**Total **|**Unrestricted**|
**Restricted**|||**Total**| |||**funds**|**funds**||**funds**||**funds**||| |||**2022**|**2022**|**2022**|**2021**||**2021**||**2021**| |||**£**|**£**|**£**|**£**|||**£**|**£**| ||Fund balances at 31||||||||| ||December 2022 are||||||||| ||represented by:||||||||| ||Tangible assets|594,402|-|594,402|594,415|||-|594,415| ||Investments|27,954|24,213|52,167|28,853||29,376||58,229| ||Current assets/(liabilities)|99,720|-|99,720|138,889|||-|138,889| ||||||||||| |||722,076|24,213|746,289|762,157||29,376||791,533| ## **15 Related party transactions** There were no disclosable related party transactions during the year (2021 - none). ## **16 Statement of Funds** ## **Restricted Funds** ## BlackRock Charities Accumulation Shares/Charinco Accumulation Shares This fund is an investment fund which was previously held with Charinco and was then transferred to BlackRock Charities on the 9 December 2019. The money was originally donated for the purpose of maintaining property held by the charity. - 13 -