REGISTERED CHARITY NUMBER.. 218573 REPORT OFTHETRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 FOR RICHARD LANE OTHERWISE TOMSON CHARITY REFERRED TO AS TOMSON'S CHARITY
TOMSON'S CHARITY CONTENTS OFTHE FINANCIALSTATEMENT5 FOR THE YEAR ENDED 31 DECEMBER2023 Page Rew)rt of the Trustees Ito4 Report of the Independent Auditors Sto6 Statem¢iit of Finantial Activities Balai)ce Sheet Note5 to the Fiiiaiicial Stateihents 9t012
TOMSON'S CHARITY REPORTTOTHETRUSTEES FOR THEYEAR ENDED31 DECEMBER 2023 The twstees present their report with the financi31 statement5 of the Charitv for the vear Ènded 21 Dècember 202.2. The trustees have adopted the provisions of Accounting 3nd Reporting by Charities.. S13tement of Recommended Practice applicablc to charitic- prcparjn6 thcir accounts in accordance With the fitt¥ncial fteportlns tandard applicable in the Ul< and Republic of Ireland IFRS 1021 (second edition. efPective l January 20191. OBJECTIVES AND ACTIVITIES Obj&ctives and aims of the charify The Charitv is established to maintain choral scholarshios at the Cathedral School in the City of Hereford for boys rÈEide.nt in the Diocese of Hereford. The Charity aims to fulfil its object set out above by sound investment management to rn3ximise income concomitsnt with preserv3tion of capital. to provide linancial 5UPPOrt for the cathedral choristers at Hereford CathEdral School. The rnain objective lor the year is to m3ximise intome to provide maximum support for choristers. Significant activities There were no new significant activities during the year ended 31 December 2023. Public benefit The trtsstees confi that they have referred to the suidaii£e coiitaiiied iii tlit Cl)ai ily CoiiliiTris>iyiI'> ¥v¥ieidl ¥uiJdiiLe Ull public benefit when reviewing the Charify's airn5 and objectives and in determining the grant mèkin8 policy for the year. Grantmakin8 All grant making is in accordance with the provi5tcn5 of the Charity Commission Scheme Sealed 1st December 1977. ACHIEVEMENT AND PERFORMANCE Review of progress ènd achievement The charitable activity remains. as set out in the 5cherne. the provision ol money for the estsblishment and maintenance ol chor31 scholarships at the Cathedral School. The c05t of these scholarships is 3 major part of the CDSt of the C3thEdr31's C%or31 Foundation. 3nd it is unlikely that, withoLJt the aid of Tomson's Charity. the Chapter of Hereford C8thedr31 WOLlld be able to raise sufficient money to maintain the choir at its present stn8th. M3teri31 Investments The Charity draw: ',tp income from inve4trnent. 8roNt ha: bccn wadc to thc Chaptcr cf Hcrcford Cathcdral to mcct the COSt of educating choristers and scholarships totalling £64.00012022.. £69.1681 during the year. Given the rising cost ol the chor315cho13rship5. the entlre aTEnual Income of thls Ch3rlty Is Insufflclent to meet the shortf311 between the costs of Chof31 scholar5hip5 of £i86.82312022.. £161.02812nd the income generated for this purpose in their own right by the Chapter of Hereford Cathedrèl. There is unSikely to be any further surplus income for the Ch3fTty in the future. FINANCIAL REVIEW Investm&nt Powers The trustees have wide powers of Tnvestment. Investrnent policy and objectives The trustees h3ve considered the niost appropriate policy for investing funds and consider that 3 mix of primarily UK and over5e35 eguities complimented by fixed interest and alternative holdings meettheir requirements to generate both income aiid capiLal 81-owllTr. l o retlect more accurately the nature ot the charity the trustees have decided to split the funds L)etween the original endowment 2nd the net iiicome available after charging charity governance cost. This net income is recognised 35 unrestricted funds and 15 distributed to cover part of the annual cost of the Cathedral choral scholarships. Page 1
TOM50N'SCHARITY REPORT TO THE TRUSTEES Icontinuedl FOR THE YEAR ENDED 31 DECEMBER 2023 Reserves poli¢y The greater part of the Charity's assets is represented by its endowment. These luiids are held as investinents. The cost ol rniiia£iii8 invegtineiltg in 2023 w?5 É9.347 12022 EIO.4041 and is charsed aE.lin*t thc cndowmcnt Fui)d. 1nvc5lnicnt3 8eneraled a net gaiii 01 £52.923 in 202312022 net lossof £262,7991. Total endowmeiit net assets at the year-end amounted to El,&?I,IL1212022.. £1,6ul,0441. Ii)coine trom Investmeiits Is released to the unrestricted fund based on 3 4Yo rebjri) of the market valuation ol inve5tnienls at 30, JLine ol the 3 previous years. Thi5 incoine is applied 35 a Rrant to ChaDÈer to helo cover tlie cost of thp r.hnral scholarships. The dividend incotne 8ei)erated by the iiivestii)ents in 2023 wa5 £43,73012022.. £40,422). The result for the year sl)ows an inci-e<75e in uiirestricted net income of £44612022.. decrease of £3,690). It 15 the policy of the trustee5 to maintain a siiiall uiire5tricted fund to meet day-to-day costs. This stands at £1,522 011 31 December 202312022.. £1,076). Risk review and Management The n)aii) I'isk affecting the charity is poor perforiiiance of inveslnieiits givi1i8 lowerincome returiis.This is mitigated through good iiianageineiit of the fuiid$ 35 liighlighted above. The trustees keep this under review at all time5. FUTURE PLANS To coiitiniie to Inaximise income witliout jeop3rdisiiig the capital b<)se by coiistant review of investment perlorfflance lor tl)é botter provirion of choral 4cholarJliip- STRUCTURE, GOVERNANCE AND MANAGEMEN"1 Goveriiing dotument Charity comini55ioiI Scheme Sealed l Decernber 1977. Recruitment and appointment of new tfU5tees The Cliarity Coihinissioii Scheine provide5 foi. the Chapter i)f Hereford Cathedral to be the trustees. O¥ganisational structure The clei-k lo the triistce5 oversees the day-to-day operation ol the Charity in accordance with the accouiitiiig instrLKt10115 that have beeii adopted by the trustees. Administrative and fiiiancial duties are carried out by the trustees or delegated as appropi'i3te. Indilctinn AnA trJinin8 of new trustees New niembei"s ol Chapter are briefed on their dLltie5 as trustees 35 appropriate and attend course5 covering the responsibilities ol the tl'U5tees. Related parties Related parties, t1'ansact)ns are set out in the notes to the financial st<ltements. Page 2
TOMSON'S CHARITY REPORTTO THE TRUSTEES Icontinuedl FOR THE YEAR ENDED 31 DECEMBER 2023 REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 218572 Pr1nrlpal 3ddres5 5 CollEgE Cloister5 The C105e Hereford Herefordshire HRI 2NG Trustees The Trustee of the Charity who has day to day management responsibility is The Chapter of Hereford Cathedral, whose members at 31 December 2023 and subsequently appointed. are listed below.. The Very Revd S8rah Brown (Dean of Hereford) Th• RPVA C3nnn Andrew Pippr The Revd Canon James Pacey Canon Dvncan Jonej Canon D3vid Howell Canon 6eniamin Pardoe Canon Marc Lepp3rd Canon C13re Wichbold MBE (Appointed June 20231 (Appointed March 20231 IAppointed March 20231 Auditors Hazlewoods LLP Staverton Coyrt St2verton Cheltenham GL51 OUX Page 3
TOMSON'S CHARITY REPORT TO THE TRUSTEES IcontinuÈdl FOR THE YEAR ENDED 31 DECEMBER 2023 IREFERENCE ANO ADMINISTRATIVE DEfAILS Charity NaThe Rirl)Ard l Al)p Otliprwise Tonigon ChariLy Workins N4Trie Clerk to the Trustee5'. Christopher Milton Bankers CCLA Ii)vestinent MaiiEieement Ltd One Angel Laiie EC4R 3AB It5vestinent Advisers Ralliboiie Iiivestment Manageiment Ltd 8 finsl)Llry Circu5 EC2M 7AZ STATEMENT OF TRUSTEES RESPONSIBILITIES The tIL151ees al'e responsible for prepariiig the Report ol the Tiuslees and the liiiai)cial st)tÈments iii accordance with applicable law aiid Ui)itecl l<iiigdoiTI Accountiiig Staiidards (United Kingdoin Geiierally Accepted Accounting Practice). Tlie law ai)plicable to cl)aritie5 in En8laiid aild Wale5, the Choi'ities Act 2011, Chai ily (Accounls 311d Reporlsl Regu13tions 2008 aiid the provisioiis ol the trust deed requires tl)e trustee5 to prepare Fi11311cial s('ateineiit5 lor eacli lii)ai)cial year wliich give a true and fail. view ol the state of allairs of the cliarity aiid ot the incoffliiig resources aTrd api)licalioii ol re50Lirces, ale iequired to select suitable iccoiinting policies and tlien apply them consistently.. observe tlie rnethocls and priiiciples in the Chai-ily 50RP., Inake judgenients aiid esliiTr)ates thLRt are reasoiici1)le aiid prLident.. prepare the linancitil stateinent5 on the goin8 coiicern basis Linless it is inappropriate to preSLime that the charity will continue in busiiiess. The trustees are responsible for keepin8 proper ac£ounting record5 whiLli di5c105e with reasonable acciiracy at aiiy time Act 2011, the Ch£lfity (Atcounls ai)d Report51 Regulatio1)5 2008 and the provision5 of the trust deed. They are also responsiE)le lor safeguarding the asset5 01 tlie cl)arity and hence for13kiiig reasonal)le steps for the prevenlioii aiiil detection of fraud and other irregularitie5. Approved by older ol the b03rd ol trLlStees 011 28111 May 2024 aiid si8iied on its behalf bv.. The Veiy i<evd 5arali Brown Un behalf of the TrLlStees P3gg 4
REPORTOFTHE INDEPENDENT AUDITORSTOTHETRUSTEES OF TOMSON'S CHARITY Opinion We have audited the financial statements of Tomsons Charity lothenvi5e Richard ne) for the year ended 31 Detember 2023 which comprise the statement of financial activities. the balance Sheet and note5 to the financial statements. includiDg a summary of signific3nt ac£ountin6 policie5. The financial reporting fr3Tnework that h35 been applied in their preparation TS 3ppIic3ble law and United KinRdom AccountinR Stsndard5. includin£ Financial Reporting Standard 102 The Fi113ncial Reportin8 Stsndard appSicable in the UK Jnd Republic of Ireland Iunited Kingdom Generally Accepted Accounting Practice). In our opiniori. the fin3ncial st3tements-. 8iVt 4 Iiy¢ f¥ii viyw vl Llie uf tlie ilidrity,) dffiiifs H5 at 31 December 2023 and of the cMaTlty'S net rnovement in funds for the vear then ended.. hève been properly prepared in accordance with United Kingdom Generally Accepted Accountin8 Practice., and have been prepared in accord8nce with the requirements of the Charities Act 2011. Bs#is for opinion We have been appointed as auditor under section 144 OF the Charities Act 2011 and report in accordance with the Act 3nd relev3nt regulations made or havin8 effect thereunder. We conducted our 3udit in accordance with International Standards on Auditing IUKI IISAS IUKII Jnd applicable law. OUT re5POnsibilities Linder those standards are further described in the Auditor's Sponsibl11t1es for the audit of the financial statsment5 section of our report. We 3re independent of the ch3rify in accord3nce with tlie ethical requirements thèt are relev3nt to our audit of the financial statetnents in the UK. including the FRC'S Ethical Stsndard. 3nd we have fulfilled our other ethic31 responsibilities in actordznce with these requirements. We believe that the 3udit evidence wè have ahtainp.d 15 411ffiripnt anrf AnDrnpri•tp trn prnvide 3 b3sis for OL1r opinion. rÈl)ting to soiTrs concem In auditing the financial stèternents. we have concluded that the trustees, use of the going concern basis of accounting in the prep3rarion of the flnanclal statements is 3ppropri3te. Based on the work we have performed. we have nct identified an¥ materi81 un£ert31ntie5 relating to events or conditions that. individuallvor collectively. mav cast significant doubt on the charifv's abilitv to continue as a going concern for 3 period of at le35t twelve months fmm when the financi31 st3tements are authorised for issue. Our responsibilities and the responsibilities of the tru5tee5 With respect to going concern 3re described in the relevant 5ectlOn5 Of this report. Other inforrnation The trustees are resporTrsible for the other information. The other information comprises the infortn3tion included in the Trustee5' Annyal Report. Our opinion on the financial statements does not cover the other information and. except to the eytent otherwige explicitly gtated in our report. wè do not ¢xprès$ 3ny forrn of 35surance conclueion thereon. consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit orotherwise appear5 to Lie m3teri311y rnisSt3ted. If we identify such material inconsistencies or apparent TTr3terial misstatements. we 3re required to determine whether there is a material misstatement in the finanti31 statements or a material misstètemÈnt of the other information. If. based on the work we have performed, we conclude that there is a material misstatÈmÈiit of thi£ other Inforrn3tion. we are reqiiired to reDort th3t fact. We h3ve nothin8 to report in this regard. M3tteTS on which we are required to report by exception We h3ve nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 reouire us to report to you if. in our opinion.. dequate 3ccounting record5 have not been kept by the charity., or ¢iiffiripnf Rrrn51nting rprnrrlq hAvp nnt hppn kpnt. nr the charity financial statements are not in agreement with the accounting records and tUrn5', or w¢ have nvt received ¥ll the inforniation and explan?tionJ we require for our audit. Responslbllities OT trustÈÈS for the finan¢i¥l 5taternent5 As expl3ined more fully in the trustees, responsibilities 5tstement set out on page 4, the trustees are responsible for the preparation of the financial statements and for bEing 5ati5fied that they give a true and fair view, 2nd for such internal control as the trustees determine is necess8rv to en3ble the prep3r3tlDn of financial statements that are free from m•tÈri31 misstatement. whether due to fraud or error. In preparing the financial statements. the tru5tee5 are responsible for assessing the charity's ability to continue 35 a going concern. di5c105ing. as applic8ble. Inatters relaled to 80in8 coiicern and using the going conEern ba515 Of aicounting unlE55 the trustee5 either intend to liquidate the charity or to cease operations. or have no realistic alternative but to do so. Pagc 5
REPORT OF THE INDEPENDENT AUDITORSTO THETRUSTEES OFTOMSON'S CHARITYICONTINUEDI Auditor's responsibilittes for the audit of the linancial statements Our objcclives <iie to olJtdill iea50n313le a55urance about whethei- the fiiiancial statei)ient5 as a whole iL re free froin iiiatÈrial rn155lateinent, whether due to fraud or error, 31)d to 155ue ali auditor's report that includes our opinion. Reasoiiable a55urdnce 15 a high level of assuriiiice but is not a guarantee tliat ali audil. coi)dutted in accordance with ISAS IUKI will alway5 delect a material misstatemeiil whei) it exist5. Mis51£ileniei)Is cali arise Iroin Iraud 01- ei-ror 311d aro con£iderpd mAtPi'iAI if. individually or in the a88regate, they could reasonL?bly be expected to influence the ecoiioinic decisioiis ol users tèken on Exteiit to wliich Ihe audit wa5 caDable of deteclins irregularitie5, ijicluding frtttjd Irregu13rities. including fraud, al'e iiistance5 of non-coiiipliaiice with laws and regul3ti0115. We design procedLire5 in line witli ,tatÈmcntJ in i-CJPCCt of irrcgulai-itlc5, incliidiil8 Iraud. Thc extent to which our procedures are capable ol detecting iri-egulai'ities, inclu(liiig fraud is det&2iled below.. We considered the nature of tlie cllarity's industry and its control environment and reviewed thE cliarity's docum¢ntation of tl)Lir policies and procediites reliltiiig lo fraiid aiid compliance with law5 aiid iegulatioiis. We a150 eiiquired of fiiana8eiYient about their own identilicatioii and assessment ol the risks of irregiilarities. We obtaiiied ali Linderslcindiiig ol the legal and regul<ltory Irainewoi'k thdt tlie cliarily operates iii and ideiilitied the key laws aiid regulations tl)at h3d J direct effect on the delefiiiiiiation of material amoui)Is and disclosures in IFIE li113ncial si3leiiiLnts, iiicludi1i8 tl)e UK Charilies Act 2Qll and tax le8islatlOll, &ind those that do not have Ei direct ellett oli the fiiioiicial 5tateineiiis (l Lviiiylid51UV Wltli which wnay L)e fundameiital to the charity's ability to operate or to avoid a rTraterial We discussed ainong the auilit eiiga8etnent team reE3rdiii8 the opportunitie5 a11d incentives that may exist within the I111111l ful Iidud 3nd how and wliere fraud rnighr occur In the financial stateinents. Ill toinmoii with all auditd undcr ISA- IUKI. wc are also requii-td to perfoi-i11 5VLI11L VIVLediii ¥5 tu rE5pond to rhe risk of outsicle the iiorinal course ol bu5ine5S. Iii addition to the above. our procedure5 tD re5poiid to tho ri5k5 ideiilified incllided the lollowinE'. reviewiiig liiiancial statei))tnt disclosures by te5tiiig to siipportiiig docuineiitation to asse55 coinpliance with provisions ot relevailt law5 and re8ulatioiis descl ibed as having a direct effect on the fii)ancial 51ateinenl5', perlormiiig analytical proceduies to identify aiiy iiiiiisual or Unexpected I'elationsliips that Inay indic7te risks of maLtrial enquiriiig of m.)naEement concernin8 $CtLial aFid potential litisatioii itiid LIJiiTlb diid i11sts(ILeS of iioii-cotnpllaiice with laws aiid ie8ul3lions.. and that the risk ol not deteclii)g a Iiiaterial misstat¢ment due to Iraiid 15 hi8her tlian the risk of iiot d¢tecting one resLJltinE Iroin ei iur, a5 fr3L4d ii)ay 51)vtslve deliberbte conceali)ient by. frur exaii)ple, forgery, mi5represent3tions or tlirough collu5ioiI. There 2re inherenl liini13tiU115 111 the audit procedures perlorTried and the fLirlher ieinoved non-coinpliaiice with 13WS 3nd reBulalioiis is from the events and transactions reflected in the financial st3teineiits, the less likely we ale to become aware A lurtlier descriplioii ol our responsibilities for the aLidit of th@ lirbancial statement5 15 located on the Finaliti21 Reportin8 Couniil's website at. www.frc or .Lik auditoi'sre5 ies. This description forms part of our auditor's report. Use of our report Thi5 report is rn3de 501ely to the charity's trustees, as a bodv. in accordance with Section 144 of thp r.hxritips Act 2011 and regulalioiis made under sectioii 154 01 that Act. Our audit work has beeii undertaken $0 tliilt we Inight state to the charity's tru5lees those matters we are required to 4tle tp. tr) thpi71 in 7n Au£litor'5 report aiid for no other purpodc. To tht fullc5t extent permitted by law, we do not accept 01 assurne responsibility to anyone other than the chatY.$ trustee5 as a body lor our Iidit work. for this report, or for the opinioiiJ we have foricicd. Scoll Lawrence (Senior Statutory Auditor) For and on belicllf OF H3zlewood5 LLP. Staverton Court Staverton Statuioiy Auditor Chelteiihain GL51 OUX 3010512024 Page 6
TOMSON'S CHARITY STATEMENT OF FINANCIAL ACTIVITIES FOR THEYEAR ENDED 31 DECEMBER 2023 I InrpstrirtpA Funds Endnwnient Funds Tot31 Funds Tottl Funds 2023 2022 Notes INCOME AND ENDOWMENTS FROM Investment income 43.730 40.422 EXPENDITURE ON ii)vestment management fees 8.347 8,347 7.90 10.404 Total Investment 82ingllloggesl NET INCOMEIIEXPENL)ITUREI 167.7221 88,306 20.584 1305.6401 I ransters between tunds NET MOVEMENT IN FUNDS li 446 20,138 20.584 1305.6401 RECONCILIATION OF FUNDS Total funds brought fonNard 1651.044 1652 120 1957 760 TOTAL FUNDS CARRIED FORWARD 1522 L67L182 1.672,704 J.652.12Q All incomc and cxpcnditurc ha5 aris¢n from ¢tsntinuin8 attivitle5. The notes numtsered I to 13 form part of these ffnancial statements. Thp nntg% fnrm part of thp%A finanrial stattrments Page 7
TOM50N'SCHARITY BALANCE SHEET AT31 DECEMBER 2023 UrestrICted Funds Elldowment FUd3 Total Funds 2023 Total Fund5 2022 Notes FIXED ASSETS Inve5tment5 1671 182 167531 1655 151 CURRENT ASSETS Debloi'5 Cash at bank 17,108 17,108 19,301 19,301 19,727 CREDITORS io 121.9101 ?? 75R NET CURRENT ASSETSIILIARII ITIFSI TOTAL ASSET5 LESS CUftRENT LIAL¥ILITII 1 071 182 1672 704 1 652 120 NET A55ETS 1.522 1,671.182 1,672.704 1652,120 FUNDS Uiii esii'icted funds Endowment flind li li 1.522 1,522 1.076 1651 (114 TOTAL FUNDS L522 .1,671.182 1.672.704 1,652,120 The iiotes nLimbered I to 13 forin part of these fi1i3ncial sfrale.mpnt Thc finailcial statcinents vieiE avvivvvd by tlie 8oard of Trustee$ 011 28th May 2024 and were signed on its behalf by.. Very Revd S Brown- On behalf of the Trustees The notes forrn gari of these finAnriAI gtaternents P39e 8
TOMSON'S CHARITY NOTES TO THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES 93515 of PTep?Ting the *in?nci31 statements The liriancial statements of the charity. which is 3 public benefit entity under FRS 102. have been prepared in &ccoi-daiice witli Ilie Cliai-ilies JORP IFRS 1021'ALLyuiiliii¥ diid Rvyvi lilis Clidl itiEb. SidtEIll¥TIt uf ReLOmmEnded Practice 3oplicable to ch3rities prep3ring their account5 in accordance with the Fin3nci31 Reporting Stand3rd 3PDlicaLile In the UK and Kepublic ot Ireland I5 IQ121 (effective l January 20191,. Financial Reporting Standard 102 'The FiTr3rici31 Reporting Standard applicable in the UK and Republic of Ire13nd' 2nd the Charities Act 2011. The firTancial st3ternents have been prepared under the historical cost convention with the exception of investments which 3re included at market Value. as modified by the rÈvalLFation of certain assets. Going Concern The accDUnt5 are pp3red on 3 going concern basis. and. in the opinion of the directors. there is no material uncertainty in connection with the comp3ny's abllity to continue to operate for the foreseeable future and minimum of twelve months from the 3pprov31 of the financial statements. Income All income is recognised in the Ststement of Financial Activitie5 once the charity has entitlement to the funds, it is proboble thot the income will be received, and the aTnount can bc mCèJurcd rcliably. ExpEndiLure Li3bilities are recogni5ed 35 expenditure as soon as the is 3 legal or con5tructNE obligation committing the charity to that expenditlire. it is probable that a transfer of economic benefits will be required in settlement and the amount Df the obligation can be measured reli3bly. Expenditure is aCCOUnted for on an accruals basis and has been classified under headings that 38888te all cost related to the tegOry. Where costs cannot be directly attributed to partitular he8ding5 they have been allocated 10 3Ctivities on 3 basis consistent with the USÈ of TE50urce5. Taxation The charity is not generally liable to Corporation tax on its Surplus. The charity is not registered for value added tax purposes. Fund accounting I InrpstrirtpA fLinA5 r3n bp L1spd in 3ccord3nre with the charit3ble objectTve# at the dis¢retiort of the trustees. The investments. and any in¢ome and expenditure in manasins the capital a55ets of the c1iarity èle reco8iiised as p3rt of the original endowment b¥ the Tomson Charity and shown as Endowment Funds. Further explanation of the rtature and ourpose of each fund 15 included in the note5 to the fin3ncial statement5. Inve5trnEnt5 Investment5 are 5t3ted at market v3lue at the balènce sheet date and unreali5ed gains or losse5 are shown on the Statement of Financial Activities. Liabilities are recognised when the Charity has a present obliBation arising from past events. Cash at bank and in hand Cash at bank arid cash in hand include5 cash and short-term investments with a short maturity of three months or less from the d3te of 3CqUlSltioD or cpenjns of the depopit or eimilar account. DblUr5 Trade and other debtors are c08n1Sed at the settlement amount due. Prepayments are valued at the amount prepaid. Creditors and provisions Creditors and provisions recognised where the charity has 3 present obligation resultin8 from a past event that will probably result in the transfer of fynds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recogn15ed at their settlement amount. Page 9
TOMSON'S CHARITY NOTES TO THE FINANCIAL STATEMENTS Itontinuedl FOR THE YEAR ENDED 31 DECEMBER 2023 INVESTMENT INCOME 31.1?.22 91 1??.2 Deposlt aeCOLint interegt Dividei)ds 17Q 43.730 40.422 43,908 CHARITABLE ACTIVITIES COSTS Direct costs Support costs 15ee note 51 Totals 31.12.23 Choristtrrs, school lees grai)t 64,(K)O 3.9 67,900 Totals 31.12.22 67,900 Choristers, school lees grant 69,168 3.691 NET MOVEMENTON INVESTMENTS 31.12.23 31.12.22 G31115111ossesl on investments Inve51nient mai)agement lees 52,923 18.3471 1262,7991 110.4041 44.576 1273 2031 SUPPORT COSTS Governance costs Governance costs 31.12.23 31.12.22 Auditoi's. reinuneration Baiik charEes 3,900 3,450 241 2.90n TRUS I REMUNERATION AND BENEFIT5 Thei"e were tTro employee5 dui ing the year or the prior year. No einoluimenls or e¥pei)ses were paid to the tfL15tees during the year or the prior year. Trustees, expenses There were iio tru5tees' expense5 paid lor the year ended 31 De£eiMber2023 nor lor the year ended 31 Deceiiiber 2022. Page 10
TOMSON'SCHARITY NOTES TO THE FINANCIAL STATEMENTS Iiontinuedl FOR THEYEAR ENDED 31 DECEMBER 2023 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES 31.12.22 31.12.22 31.12.22 Unr¥stritt•d Fund5 Endowmant Fund5 Tot31 funds Investment Income 40,421 40.422 Total 40,421 40.422 Raising Funds Investment management fees 10.404 10.404 Charitable activitie5 72.859 72.859 Totsl 72,859 10.404 83.263 Imiestment gain5111DS5e51 262.799 262.799 NET INCOME 172.8581 1232.7821 1305.6401 TransfeTS between fund5 69,168 169.1681 Net Movement on funds 13.6901 1301.9501 1305,6401 Tot31 funds brought forward 4.766 1.952.994 1.957.760 Total fund£ c2ryi*d forward 1,076 1.651.044 1.652.120 FIXED Ass INVESTMENTS Cash and Listed investrnents pending Totals MARKETVALUE At I13nuary 2023 AdditlOn5 Disposals Gain5 on investments Movement on cash 1,656.757 528.020 1568.1061 52.923 11.6061 1.655.151 528.020 1568.1061 52.923 7.325 7.325 At 31 December 2023 1,669.594 5.719 1.675.313 FixEd 3sset inve5tmentS 3re quoted on ? reccsqised ctock exchJnBe and held within the United Kingdom. DEBTOR5." AMOUNT5 FALLING DUE W5THIN ONE YEAR 31.12.23 31.12.22 Other debtors Accrued income 66 17.042 Debtors 17.108 Page 11
TOMSON'S CHARITY NOTES TO THE FINANCIAL STATEMENT5 Icontinuedl FOR THE YEAR ENDED 31 DECEMBER 2023 io. CREDITORS.. AMOUNTS FALLING DUEWITHIN ONE YEAR 31.12.23 31.12.22 Other creditors 21,910 22.758 ii. MOVEMENT IN FUNDS Net tnovement in funds Transfer5 between fuiids At 1.1.23 At 31.12.23 Unrestricted funds Geiieral fund 1,076 167,7221 68.168 1.522 Endowment fund 1,651,044 88,306 168.1681 1.671.182 TOTALFUNDS 1,652,120 20.584 1.672,704 Iiivv¥iiiviil iii fund5, IncludeLI In the above are as follows.. Iiicotne and endownients Expenditure Gains and Movement I losses fuiids Llnrestritted funds General ftiiid 178 167.9WI 167,7221 Endowinent fuvd 43,730 18,3471 52.923 88.306 TOTAL FUNDS 43,908 176,2471 52.923 20.584 Unrestricted fund5 represeiitthe funds OF the chai-ity th2t al'e not subject to any restrictlOn5 re8ardii)g their use and ?re availal)le lor applic3tion ol the general objects of the charity, The Endowrnent fund is the capital assets OF the charity which %ire used to gcnerate the incoine paid over to Ilie nStrICted fuiid for distribution iii lurtl)erance ol the aim5 Of the charity. RELATED PARTY DISCLOSURES 12. Duriiig the year, £64,WO12022.. £69,168) wa5 paid to the ChaLTrter of Hereford Cathedral Iwhn 1% thp snlp triist@e of the charity) in respect of part luiiding chorister5' school fees at Heref'ord Catliedral School. The charity owed the Chapter of Hefeloi-d Cathedral £16.0001?n??. F17 ?92) at the bal.Ince glie•t date. IJI TIMATE CONTROLLING PARTY Thc charity IS CoiitiDlled by ¥luril Cathedral oli the ba51S that the Lhapter of the Cathedral 15 the solc trustee ol tlie cliai ity. Heiefoid Cathedral bec31)ie a registered cliai'ity on 25lli Octobef 2023, uii(ler the iiaine The Cathedral Church of the Blessed Viigiii Mary & Saiiit Ethelbei't iii Hereloid, rtgistialioii nuinber 1205397. A copy ol the COlls01idited accouiit5 01 Hereford Cathedral may lJe obiaiiied frorn its Pl'il)cipal office at the a(Idres5 sliowi) on page 3. Pasc 12