**Charity registration number 235784**
**Company registration number 00806342 (England and Wales)**
## **JOHN A THOMPSON MEMORIAL TRUST**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **JOHN A THOMPSON MEMORIAL TRUST**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|Ms S Eardley-Stiff|
|---|---|
||Mrs DM Pearsall (Treasurer)|
||Ms P Robinson|
||Mr P Jones|
|**Charity number**|235784|
|**Company number**|00806342|
|**Registered office**|28 Festing Road|
||Southsea|
||Hampshire|
||Portsmouth|
||PO4 0NQ|
|**Independent examiner**|Carpenter Box Jones Avens|
||53 Kent Road|
||Southsea|
||Portsmouth|
||Hampshire|
||PO5 3HU|
|**Solicitors**|Quality Solicitors Large and Gibson|
||Kent House|
||49 Kent Road|
||Southsea|
||Portsmouth|
||Hampshire|
||PO5 3EJ|
|**Investment advisors**|Investment Solutions Wealth Management Limited|
||Grafton House|
||26 Grafton Road|
||Worthing|
||West Sussex|
||BN11 1QT|
## **JOHN A THOMPSON 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 - 14|
## **JOHN A THOMPSON MEMORIAL TRUST**
## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
The trustees present their annual report and financial statements for the year ended 31 December 2023.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the trust's Articles and Memorandum of Association, the Companies Act 2006 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)” (as amended for accounting periods commencing from 1 January 2016).
## **Objectives and activities**
## **Charitable object**
The Trust's objects are to provide living accommodation for aged poor or needful persons with power for that purpose to provide services and benefits at reduced charges, together with pecuniary and other assistance.
## **Objectives and Aims of charity**
The Trust's objectives are to provide living accommodation for the relief of poverty, need and financial hardship to the elderly by the provision of subsidised accommodation. The Trust also offers assistance to the elderly by social interaction at its premises and through social events within the community.
The trust runs a complex of adjoining properties which have been converted to flats available to rent at reduced charges by the old and impoverished.
## **Public benefit**
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the trust should undertake. The charity is a public benefit entity.
## **Activities**
The John A. Thompson Memorial Trust is a registered charitable company, owning five adjoining properties, in common grounds, in an attractive area of Southsea near Canoe Lake and the seashore. The Trust has been in Southsea since 1967, but its origins go back to 1932, to a mission founded by the Reverend John Thompson in Battersea.
The Trust’s houses comprise 38 self-contained flats, providing 1- or 2-bedroom accommodation, as well as a communal sun-lounge, the Trust’s offices, and catering and laundry facilities. The flats are let as independent living tenancies, with a small number of assisted-living tenants receiving support from the staff with cleaning and catering.
The Trust Manager’s post remains vacant, but the Trustees currently prefer the temporary appointment of a business specialist, contracted for perhaps 1-2 days per week, to produce a business plan (with a particular focus on costs and revenue). In keeping with this approach, the Trust has invited an external HR consultancy to carry out an independent review of the Trust’s staff structure and the individual roles within it, and to assist in identifying the policies and practices that an organisation like the Trust should be adopting.
The Trust has also commissioned and received a Property Condition Report from an independent building surveyor, to form the basis of a maintenance plan and schedule.
- 1 -
## **JOHN A THOMPSON MEMORIAL TRUST**
## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **Closure of the Trust’s Barclays Bank Account**
On Friday 10th November 2023 the Trust’s on-line banking facilities became inaccessible. A call to the helpline confirmed that the account had been closed and that the decision would not be reversed because there was no error on the Barclays’ part. The Bank’s ‘know your customer’ team implied that the account had been closed because of a discrepancy with the name of one of the Trustees (P Jones).
As a result, the Trust had no access to its funds for purchases, payment of bills, and payments of staff wages. Standing orders and direct debits ceased to be paid, and rents from tenants could no longer be received. After some weeks the Trust’s funds were retrieved, with difficulty, but the Trust no longer had a bank account to pay them into. As an emergency measure, the funds were paid into the private bank account of one of the Trustees (P Jones), and the Trust’s business was operated from this account until a new account was eventually set up with the Co-operative Bank.
Tenants were asked, as a strictly temporary measure, to pay their rents into the bank account of one of the trustees (P Jones). Arrangements were made with Trust’s accountants (Carpenter Box Jones Avens) to continue payments to staff and HMRC, via transfers to their client account.
Records of transactions from/to P Jones’ account were kept throughout. The Trust’s accounts administrator and the accountants had access to P Jones’ bank and credit card statements in full, and reconciliation has since been completed.
The Charity Commission was told of the interim arrangements by email on 21 November 2023, and a Serious Incident Report has since been filed (Reference 685204) and accepted.
The Trust challenged the assertion that there was no error on the Bank’s part. In an email to the Bank in May 2023 the Trust informed them of a discrepancy with the name and identified this as an error solely on the Bank’s part. The Bank’s response in June 2023 gave the Trust reason to understand that the matter was resolved. A follow-up letter to the Bank in May 2023 gave full details of the account signatories. In closing the account, the Bank apparently failed to recognise the clarification supplied earlier.
A complaint against Barclays has been lodged with the Financial Ombudsman Service.
## **Achievements and performance**
## **Financial review**
Rental income for the year has increased as planned when compared to 2022. This is the second increase in the last two years. There was a net incoming movement of funds for the year of £32,790 (2022 - £9,059 incoming movement). This includes an unrealised profit on listed investments of £3,255 (2022 - £7,469 unrealised loss).
There were total unrestricted funds, including designated funds, brought forward of £1,446,698. At 31 December 2023 there were equivalent funds of £1,479,488 carried forward of which £83,490 (2022 - £67,170) were free unrestricted funds.
## **Reserves policy**
It is the policy of the trust that unrestricted funds which have not been designated for a specific use should be maintained at a level at least equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the trust’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has not been maintained throughout the year.
The trustees recognise that this position needs to be addressed and are working on a business plan to ensure that the reserves are restored as quickly as possible.
## **Investments**
The Articles and Memorandum of association grant the trustees wide powers of investment. Investments are held to generate both income and capital growth.
- 2 -
## **JOHN A THOMPSON MEMORIAL TRUST**
## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **Risk management**
The trustees actively review the major risks faced by the trust on a regular basis. They believe that the financial risk can be managed by an annual budgetary review and maintaining reserves at current levels. The trustees have also examined other operational and business risks faced by the charity and confirm that they have established systems to mitigate risks.
## **Future Developments**
The principal focus now needs to be on strengthening the financial position of the Trust. All options will be explored, including increasing revenue streams and wherever possible, reducing expenditure. In the meantime, the Trust will continue to provide support for the beneficiaries.
## **Structure, governance and management**
## **Governing document**
The company was incorporated on 25 May 1964 and is limited by guarantee. The company is registered as a charity. The company is governed by the articles and memorandum of association (amended 21 April 2004). The trust is governed by the board of trustees.
## **Trustees**
The trustees, who are also the directors for the purpose of company law, and who served during the year were:
Ms S Eardley-Stiff Mrs DM Pearsall (Treasurer) Ms P Robinson Mr P Jones
New trustees are recruited to complement the existing board. Potential trustees are encouraged to attend the trustee meetings and other social functions in the complex. The trust manager will also give new and potential trustees a tour to familiarise them with the work carried out by the trust. None of the trustees has any beneficial interest in the company.
All of the trustees are members of the company and guarantee to contribute 5 pence (one shilling) in the event of a winding up.
There is trustee indemnity insurance in place.
The trustees meet on a monthly basis to review the trust's affairs and delegate the day to day administration of the trust to a manager. The manager is supported by an assistant.
## **Remuneration policy**
The trust's remuneration policy aims to offer fair pay to attract and retain appropriately qualified staff to deliver the charity's aims.
## **Asset cover for funds**
There are adequate and available assets of each fund sufficient to meet all liabilities and obligations.
The trustees report was approved by the Board of Trustees.
..............................
## **Mr P Jones**
Trustee Dated: .........................
- 3 -
## **JOHN A THOMPSON MEMORIAL TRUST**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF JOHN A THOMPSON MEMORIAL TRUST**
I report to the trustees on my examination of the financial statements of John A Thompson Memorial Trust (the trust) for the year ended 31 December 2023.
## **Responsibilities and basis of report**
As the trustees of the trust (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the trust are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the trust’s financial statements carried out under section 145 of the Charities Act 2011 (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**
Since the trust’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
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 386 of the 2006 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
- 4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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.
## **Carpenter Box Jones Avens**
53 Kent Road Southsea Portsmouth Hampshire PO5 3HU
Dated: .........................
- 4 -
## **JOHN A THOMPSON MEMORIAL TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
|**Unrestricted Unrestricted**
**funds**
**funds**
**general designated**
**2023**
**2023**
**Notes**
**£**
**£**
**Income from:**
Donations and legacies
**2**
23,773
-
Charitable activities
**3**
363,278
-
**Total income**
387,051
-
Expenditure on:
Provision of sheltered
hosuing for the elderly
in need
**4**
357,516
-
Net gains/(losses) on
investments
**8**
3,255
-
**Net income**
29,535
-
Transfers between
funds
(16,470)
16,470
**Net movement in**
**funds**
13,065
16,470
**Reconciliation of funds:**
Fund balances at 1 January
2023
67,170
1,379,528
**Fund balances at 31**
**December 2023**
83,490
1,395,998|**Total**
**Unrestricted Unrestricted**
**funds**
**funds**
**general designated**
**2023**
**2022**
**2022**
**£**
**£**
**£**
23,773
27,194
-
363,278
325,361
-
387,051
352,555
-
357,516
336,027
-
3,255
(7,469)
-
29,535
16,528
-
-
(870)
870
29,535
15,658
870
1,446,698
58,981
1,378,658
1,479,488
67,170
1,379,528|**Total**
**2022**
**£**
27,194
325,361
352,555
336,027
(7,469)
16,528
-
16,528
1,437,639
1,446,698|
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
- 5 -
## **JOHN A THOMPSON MEMORIAL TRUST**
## **BALANCE SHEET**
## _**AS AT 31 DECEMBER 2023**_
|**Notes**
**Fixed assets**
Tangible assets
**10**
Investments
**11**
**Current assets**
Stocks
**12**
Debtors
**13**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**14**
Net current liabilities
**Total assets less current liabilities**
**The funds of the trust**
Unrestricted funds - general
Unrestricted funds - designated
**16**|**2023**
**£**
**£**
1,395,998
96,285
1,492,283
909
58,435
797
60,141
72,936
(12,795)
1,479,488
83,490
1,395,998
1,479,488|**2022**
**£**
**£**
1,379,528
94,156
1,473,684
982
6,867
19,929
27,778
54,764
(26,986)
1,446,698
67,170
1,379,528
1,446,698|
|---|---|---|
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2023.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the trustees on .........................
..............................
Mr P Jones **Trustee**
Company registration number 00806342 (England and Wales)
- 6 -
**JOHN A THOMPSON MEMORIAL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **1 Accounting policies**
## **Charity information**
John A Thompson Memorial Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is 28 Festing Road, Southsea, Hampshire, Portsmouth, PO4 0NQ.
## **1.1 Accounting convention**
The accounts have been prepared in accordance with the trust's Articles and Memorandum of Association, the Companies Act 2006 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)” (as amended for accounting periods commencing from 1 January 2016). 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 applying FRS 102 Update Bulletin 1 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 accounts have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
The trustees believe the company has adequate resources to continue in operational existence for the foreseeable future.
For these reasons the company will continue to adopt the going concern basis in the preparation of its Financial Statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
## **1.4 Incoming resources**
Income is recognised when the trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
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.
Legacies are recognised on receipt or otherwise if the trust has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
## **1.5 Resources expended**
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Irrecoverable Vat is charged as a cost against the activity for which the expenditure was incurred.
- 7 -
## **JOHN A THOMPSON MEMORIAL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **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 no depreciation Plant and machinery 20% of the reducing balance Fixtures, fittings & equipment 20% of the 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.
No depreciation has been provided on the freehold buildings as in the opinion of the trustees the lives of the buildings are of such length and the residual values so high that any depreciation would be immaterial.
## **1.7 Fixed asset investments**
Fixed asset investments are initially measured at transaction price, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised 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).
## **1.9 Stocks**
Stocks are stated at the lower of cost and net realisable value.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
## **1.10 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.11 Financial instruments**
The trust has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the trust's balance sheet when the trust becomes party to the contractual provisions of the instrument.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are imeasured at transaction price including transaction costs.
- 8 -
## **JOHN A THOMPSON MEMORIAL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **1 Accounting policies**
## **(Continued)**
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are recognised at transaction price.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. Trade creditors are recognised at transaction price.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the trust’s contractual obligations expire or are discharged or cancelled.
## **1.12 Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
## **1.13 Retirement benefits**
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
## **2 Donations and legacies**
||**2023**|2022|
|---|---|---|
||**£**|£|
|Donations and gifts|23,773|27,194|
## **3 Charitable activities**
|Rents receivable
Other income and services|**2023**
**£**
333,098
30,180
363,278|2022
£
306,229
19,132|
|---|---|---|
|||325,361|
- 9 -
## **JOHN A THOMPSON MEMORIAL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **4 Provision of sheltered housing for the elderly in need**
|Staff costs
Depreciation and impairment
Rates and water rates
Light and heat
Insurance
Repairs and maintenance
Other property costs
Cleaning and laundry
Food
Telephone
Printing, postage and stationery
Investment portfolio fees
Sundry expenses
Share of governance costs (see note 5)|**2023**
**£**
193,016
12,174
9,679
42,589
13,333
58,300
666
1,791
9,017
3,195
590
1,125
1,865
347,340
10,176
357,516|**2022**
**£**
190,664
8,056
10,557
39,963
11,755
50,580
472
1,857
7,258
1,496
853
1,802
2,098|
|---|---|---|
|||327,411
8,616|
|||336,027|
## **5 Support costs**
|Independent examination
Accountancy
Legal and professional
Analysed between
Charitable activities|**Support**
**costs**
**Governance**
**costs**
**£**
**£**
-
1,200
-
8,226
-
750
-
10,176
-
10,176|**2023**
**£**
1,200
8,226
750
10,176
10,176|**2022 Basis of allocation**
**£**
1,200 Governance
6,276 Governance
1,140 Governance
8,616
8,616|
|---|---|---|---|
## **6 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the trust during the year.
- 10 -
## **JOHN A THOMPSON MEMORIAL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **7 Employees**
The average monthly number of employees during the year was:
|**Employment costs**
Wages and salaries
Social security costs
Other pension costs|**2023**
**Number**
15
**2023**
**£**
186,280
5,114
1,622
193,016|**2022**
**Number**
15|
|---|---|---|
|||**2022**
**£**
184,377
4,932
1,355|
|||190,664|
There were no employees whose annual remuneration was more than £60,000.
## **8 Net gains/(losses) on investments**
||**2023**|2022|
|---|---|---|
||**£**|£|
|Revaluation of investments|3,255|(7,469)|
## **9 Taxation**
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
- 11 -
## **JOHN A THOMPSON MEMORIAL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **10 Tangible fixed assets**
|**Freehold**
**land and**
**buildings**
**Plant and**
**machinery**
**Fixtures,**
**fittings &**
**equipment**
**Total**
**£**
**£**
**£**
**Cost**
At 1 January 2023
1,347,304
237,978
18,259
Additions
-
184
28,461
At 31 December 2023
1,347,304
238,162
46,720
**Depreciation and impairment**
At 1 January 2023
-
212,968
11,046
Depreciation charged in the year
-
5,039
7,135
At 31 December 2023
-
218,007
18,181
**Carrying amount**
At 31 December 2023
1,347,304
20,155
28,539
At 31 December 2022
1,347,304
25,011
7,213
**11**
**Fixed asset investments**|**£**
1,603,541
28,645|
|---|---|
||1,632,186|
||224,014
12,174|
||236,188|
||1,395,998|
||1,379,528|
|||
||**Listed**|
|---|---|
||**investments**|
||**£**|
|**Cost or valuation**||
|At 1 January 2023|94,156|
|Valuation changes|2,129|
|At 31 December 2023|96,285|
|**Carrying amount**||
|At 31 December 2023|96,285|
|At 31 December 2022|94,156|
## **Fixed asset investments revalued**
The investments are valued at market value.
## **12 Stocks**
||**2023**|**2022**|
|---|---|---|
||**£**|**£**|
|Finished goods and goods for resale|909|982|
- 12 -
## **JOHN A THOMPSON MEMORIAL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **13 Debtors**
|**Debtors**|||
|---|---|---|
|**Amounts falling due within one year:**
Bank closure monies
Prepayments
**Creditors: amounts falling due within one year**
**Notes**
Deferred income
**15**
Other creditors
Accruals and deferred income|**2023**
**£**
50,531
7,904
58,435
**2023**
**£**
23,915
23,633
25,388
72,936|**2022**
**£**
-
6,867|
|||6,867|
|||**2022**
**£**
25,069
21,612
8,083|
|||54,764|
## **14 Creditors: amounts falling due within one year**
Other creditors includes £20,533 deposits held (2022: £19,035) on behalf of tenants. The deposits are registered under the Deposit protection service.
## **15 Deferred income**
|Other deferred income
Deferred income represents rents received in advance.
**Unrestricted funds -**
**At**
**Previous year:**
**At**|**1 January**
**2023**
**£**
1,379,528
**1 January**
**2022**
**£**
1,378,658|**2023**
**2022**
**£**
**£**
23,915
25,069
**Transfers**
**At 31**
**December**
**2023**
**£**
**£**
16,470
1,395,998
**Transfers**
**At 31**
**December**
**2022**
**£**
**£**
870
1,379,528|**2022**
**£**
25,069|
|---|---|---|---|
## **16 Unrestricted funds -**
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## **JOHN A THOMPSON MEMORIAL TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_
## **17 Designated funds**
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
The fixed asset fund is an amount equivalent to the net book value of fixed assets at the balance sheet date, excluding assets represented by restricted fund balances, if any.
## **18 Analysis of net assets between funds**
|**Unrestricted**
**funds**
**Designated**
**funds**
**2023**
**2023**
**£**
**£**
Fund balances at 31
December 2023 are
represented by:
Tangible assets
1,395,998
Investments
96,285
-
Current assets/(liabilities)
(12,795)
-
83,490
1,395,998|**Total**
Unrestricted
funds
Designated
funds
**2023**
2022
2022
**£**
£
£
1,395,998
1,379,528
-
96,285
94,156
-
(12,795)
(26,986)
-
1,479,488
1,446,698
-|Total
2022
£
1,379,528
94,156
(26,986)
1,446,698|
|---|---|---|
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