THE THORESBY CHARITABLE TRUST FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023 Registered Charity Number 277215
THE THORESBY CHARITABLE TRUST l N D EX Year ended 31 March 2023 Page General information Annual report Independ•it examiner's report Ststement of financrdl actwities Balance sheet Notes to the flnanci21 statements
THE THORESBY CHARITABLE TRUST GENERAL INFORMA TION Yeav ended 31 March 2023 Tvustee5 D Thome C Firr K Pierrepont Registered <harity number 277215 Registeved officè Estate Office Thore5by Park Newark Not¢$ NG22 9EQ Tvust summary The charlty was formed on 15 December 1978 hnd fvnded irs the short perSod thereafier by dona£ions Eotalling £204.985. The Income and capFt21 of the Trusr Is held by the TNstees for such charitable purposes 2$ they thlnk fit. Independent examlner Steven WakefiÈld ACA Dixon Wilson 22 Chancery L2ne London WC2A I LS Bank¢rs Barclays Bank PLC Solicitors Wedlake Bell 71 Queen Victoria Street London EC4V 4AY Investment managers Cazenove Capital Man2gemenc l London Watl Place London EC2Y SAU
THE THORESBY CHARITABLE TRUST ANNUAL REPOR T Yeavended 31 March 2023 The Trus¢ees submit their rerM)rt and accounts for the year ended 31 M2rch 2023. Constltutlon The charity is constituted by a trust deed dated 15 December 1978. Trustees The Truscees wha h2ve served during Ehe year are those shown on page l New trusLees are recommended by one or more ol the existing trustÈes, and their appointment IS COll51dered by the other trustees. The Trustees haye the power to invest as they thinlc fit 2ny funds not Immediately required. The majority of the Fund is held in quoted securities which are managed on a fully dlscretionary basis by Cazenove Capital Management. Objèct and pollcles for the public benefit The objecL of the Trust as set out in the Trust Deed is to apply the Trust lunds. at the Trustees. absolute distretiori, to 2ny chaiitable body, 2ssoclatlon or organisation, for charitable purposÈs. It is che TrusTres' pollcy to distribute the income arfslng whilst maintsining the capÉtal real rMs. There has been no ehange In these policies stnce the last annu report. Public b¢n6llt The Trustees. hawng regard to the publle benefit guldance published by the Charlty Commission in accordance with 5ectlon 17 of the Charities Act 2011, conslder that the PL¢rpose and activicies of the eh#rity satisfy the requirement5 of the publSc benefit test set out In seetion 4 of thÈ samÉ 2CL Ovganisation The charity is governed by its trustees who may exercise all the powers ctsntilned within the Trust Deed. The managcmenc of the financial affai of the charity is overseen by Pierrepont Estates Management Limlted on behalf of the Trusteek All enquiries 2nd applications for donatyons Should iEEitially be addrÈssed to the regtstered office. Resèrves Pollcy The Trust has power to dlstribute capital and income. It 15 the policy of the Trust to maintain funds suflicient to cover management and idminiscrntion oxpcnses. Tmstees may retaln surplus income which 15 accumulated to enable the Trustees to provide for its tharifable objectlves. At 31 March 2023 total unresirictrd reserve5 held amounted co £1,309,953 P022 - 11,393,188). Revtew ofthe year Incoming 2nd outgoing resour$ for the year are set out In che Statement of Financial Activlties on page 6. In che year to 31 March 2023, £40,550 was paid oui to 31 differeE)t causes12022 - £50,965 co 46 dilferent tausesl. In the opinion of the TruSe5, Ehe tharlty's general progress is satisfactory. Investments Total loss on investment assets during the year were £110,034. compared to gxlns of £48,219 in 2022.
THE THORESBY CHARITABLE TRUST ANNUAL REPOR T ICONTINUEDI Year ended 31 March 2023 Financial statements These are set out on pages 6 to 12. These hive been drawn up in compliance with the relev**t provision5 of the Charities Act 201 I, and with the Trust Deed. For 2nd on behalf of the Trustee5 K PIERREPONT 2024
-HE THORESBY CHARITAI',I_E-I"RUS'r I N D EPE N D E N T EXA M I N E R, S R EP O R T Year ended 31 March 2023 IndependÈnt examiney's report to the Trustees of the Thoresby Charitable Trust I report ¢0 the Trustees on my èxamln2tion ol the accounts of the Trust for the year ended 31 March 2023. Responsibilittes and basis of report As the charity trustees of the Trust you are responsible for the preparation of the accounis in accordance with the requirements of the Charitie5 Act 2011 (the Act,). You are satisfied that an audit is not required for this year under charity law and that an independent examSnation is needed. I IEport in respect of my examination of the Trust's accounts carried out under sectioTr 14S of the 201 l Att and In can'ying ouc my examiMatlor] I have followÈd all the applicable dlrections given by the Charity Commission UDder section 145{5llbl of the Act. Dtxon Wilson, a firm of Ch2rtered ACCOUnttS of which l am an employee has provided booklceeping services to the Trust and I have applied the FRCS Revised EthIC Standard In carrying out my examinacion. An independent examlnation does noc involve gathering all the evtdenee that would be requSred in an audit and consequently does not cover all the matters thac In auditor considers ill giving thelr opinion on the accounts. The planning 2nd conduct of an audi¢ goes beyond the liml¢ed assurance that an independÈnt examination can provide. Consequetitly l express no opinion as to whether the accounts pi'e5ent a 'true and fair, view and my report Is limited to those speclflc matters set out in the independent examiner'$ 5tAtement. Independent examiner's statèment l am qalifIed to undertake the èxamination by beirkg a qualified member of the Institute of Chartered Actountants in England and Wales. I have completed my examination. I confirm that no material mittrrs have come to my a¢tention connectlon wlth the examintlon glvlng me cause to belÈeve that In any miterol respecL'. 2ccounting records were not kept in respect of the Trust as required by sectlon 130 01 the Act: or the accounts do not tccord with those records., or the actounts do rt comply with the applicable requiremenrs concerning the lorm and content of accounts set out in the Charities {Ac£ounts and Reports) Regulations 2008 other than any requlrement that the accounts glve a 'true and falr view, which is not a matter considered as part of an independent examinarion- or the accounts have noL been prepared in actordance with thc methods and prlnciples of the Statement ol Recommended Practice for ac¢oun¢ing and reporting by charlcies applicable to charicies preparing their accounts in accordance wilh rhe Flnancial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concerns and have come across no matters In connectlon with the examination to whlch atntion should be drawn In this report In order to enable a proper understanding of the accounts to be reached. STEVEN WAKEFIELD ACA Dlxon Wilson 22 Chancery Lane London WC2A ILS 29 January 2024
THE THORESBY CHARITABLE TRUST ST A T E M E N T O F F l N A N C I A L ACT I V I T I E S Year ended 31 March 2023 Notè Unre5trlEted income fund UnrÈ&trlcted Income fund 2022 2023 Income and endowments from,. Donations 18.750 250 18,750 250 Investmettt Income.. Dividend5 B8nk interest 54,619 856 53,963 55.475 53.966 Total income ond endowments 74.225 54.216 Expenditure on: R3lslng funds.. Investment management fees 4,063 4.252 (4,0631 (4.252) Charitable ictivitie5'. Charltable donations Accountancy and illdependeni examination Legal and prof&s5Tc*Yal fees B2nli charges 40,550 2.280 528 50.965 2.160 143.3631 (53.126) rotal expenditure Other rÉtognised {losse5)Igaln$ 147,4261 {57,378) Gains on investment a$sets'. Reallsed gain on dSspos&l ol Investrnents Unrealised {10ssygain on revaluation of investments to market value 1.610 1110.034) 46,609 Total athÈr tOgniSed Qosses)Igaln$ (110,0341 48,219 Net movement In fund5 183.235) 1.393,188 45,057 1,348.131 Total funds brought foThRrd at l April 2022 Total ndS carvied foyward at 3 1 March 2023 (page 7) 1.309.953 1,393,188 All amounts are in respect of continuing operauons.
T14E THORESBY CHARITABLE TRUST BA LA N C E S H E ET At 31 Mavch 2023 Note 2023 2022 Fixed assets Investments ic market value 1,254.429 1.365,047 Cuyyent assets C2sh at bank and In hand Debtors 58,774 3.750 14.913 528 62,524 35.441 Liabilltles Creditors= amounts falling due within one year Net current asS¢ts ,000) 55,514 (7,3001 28.141 Total net assets 1.309,953 1.393,188 Unrèstrlcted fund (page 6) 1,309,953 1,393.188 The Ilmancl statements on pages 6 tts 12 were approved by the Trustee5 On signed by'.- 29 January 2024 and K PIERREPONT
THE YHORESbY CHARITABLE TRUST NOTES TO THE FINANCIAL ST A TEMENTS Year ended 31 March 2023 Accountlng policie5 Basis irfaccounting and a55es$meNt of going concern The financ1 statements have been prepared in accordance wlth the Statemenr of Recommended Prnctke.. Accounting at Keporting by Charltles prepAring thelr accounts accordance with the FIneaL Repordng Sr8Ddard app(icable in the UK and Republlc of l¥Èland {FRS 102 SORP) issued In October 2019, the Financ1 Reporting Standard 2ppll£able in the UK atKI Republlc of Irdand {FRS 1021 and thè Ch2t4des Att 2011. The Trust constiture5 a pubSlc benefit entlty as ddnÈd by FRS 102. Assers and Ilabilities are Snlt1311y recognlsed at historical ost or transactlon unless odierwÈse stated In the relevant account4ng polity note. The Trvsoes con$lder that there are no matÈrE21 uncertainties about the Trust's 2bllity to continue a5 a going concern. Income There has been no oftsetting ol assèts and li2bllit4e5, or income and expenses, unless required rw permItd by the FRS 102 SORP or FRS 102. Donations are recognised when the Trust has entidement to the income, there ts reasonable assurnncÈ of receipt and the atnount of incorne can be measured relIab- Gift Ald receivable b Intludtd in Income vthen therels 2 valid declaration fmm the donor. Any Gift Ald 2mount recovered on a donafioll is con5idewd ¢0 be part of that wft and 15 tlled 2s in additi¢YI t¢ the s3me fund as the initkal donatKn unless the dtsnor or the tenns of the appeal have specrfied otherwise. Income from ir>trrest royalties 2nd diyidends is included In the accounts when recelpt Is probable and the amo(Jht recelwdblè can be measured relribly. Investment 1n$ losses Includes any realised or unrealised gains or Eosses on the sale of Invstsnents afid any galn or1055 resultkng Irom reyrflulng investments to rnarketvaknÈ atthe end of the year. Expenditure #nd Ilabllities LiabilIts are recognised gs soon as there 15 8 legal or conSetIVe obligation committing the Trust to the expenditure, it is prob2ble that settlemÈn¢ will be requlred, and the amount ol the obligat can be measured reliabty. Al exPdItUre Is accounted tor on an 3CCralS basls. The charity has creditor5 whkh are measured at setdernentHmounts. Fixed asset Investments in quoted shares. traded bond5 and slmilar investments are valued initially at C05¢ and wbsequently atfair vae {thelr madt value at bld prKe) atthe ye2r end. Debtors {hcluthng trade debtors 2nd loans recewable) are measured on Inidal recognition &t 5etdement amount after any 2mount adwdnced by the £harity. Subsequentty, they arè measured at the cash or other ConsidetK}n expected to be received. Taxatlon The charity 15 exempt from tsx on income 2nd gain5 falling wlthin section 505 of the Taxe5 Act 1988 or section 252 of the Taxatlon of Chargeable Gain5 Act 1992 to the extent that these are applied to Its charitable oblectives.
'1'14E. THORESBY CHARITABLE TRUST NOTES TO THE FINANCIAL ST A TEMENTS Year ended 31 March 2023 Chavitable Donation5 2023 2022 I st C2rlton-in-Lindrlck Scout Group Asthma UK Aurora Wellbelng Centre5 Autism East Mid12nds Beaumond House Hosplce Blind Veterans UK Brici$h Epilepsy Associauon CASY (Counselling & Support lor Young People) Chlldren wlth Cystic Fibr051s DrÈam Holidays Citizen5 Advlce Broxrowe Cornw*ter Evergreens Foundaciot) Trust Crackerjacks Children's Trus¢ Criminon UK Eaeh Amazing Breathe Edwinstowe PCC - St Marys Edwinstowe Royal British Legion European Squlrrel Ini¢SatlYe EMICS HÈtty's HotHouse Theatre IwbCPSt and Sexual Abuse Surylvors Joshua Williams Racing Knee5all Churth Laxton & Moorehouse PC Maggies Nottingham Mending Inlured Minds Motor Neurone Di5ea5e Assocfjation My Sight Nottinghamshire NARA The Breathing Charity N2tional Kldney Foundation Nottingham Arts Theatre Nottingharn5hlre Historic Churches TrusL Nottlnghamshire Hospice Parish ol St Peters Church Ravenshead PDSA Police ComEnunlty Club5 of Great Britasn RABI RNIB Rhubarb Far S.H.E UK Safe Families School Readers Shawmind Foundation Skills Exchange NG7 Southwell Cathedrl ChapTrr Stlohn5 Church- Perlethorpe St Margarets PCC St Mary the Virgin rAA Support Through Courr Nottingham 500 1,140 1,000 1,140 1,000 1.500 2.400 750 500 1,500 500 1.000 1.000 1,500 1,000 2,050 750 1.000 1,00 500 3,000 1,000 1,000 344 500 2,000 5fK) 1,500 300 2.750 725 1.000 1.500 650 1,246 750 soo 1,000 600 250 I,()0 500 2,000 500 2.000 250 750 1,000 500 7,5(Kl 2,0 1,000 1.500 500 1,000 400 750 2,750 1,000 2,500 1.000 750 1,500 1,750 Carried forward 35.030 43,215
THE THORESBY CHARITABLE TRUST NOTES TO THE FINANCIAL ST A TEMENTS Year ended 31 March 2023 Charitable Donatlons (contlnued) 2023 2022 Brought forwdrd 35,030 43,215 Teenage Cancer Trust The Fire Fighters Ch2fiLy The ROYAI AgrSculturl Benevolent As50tlation Think Children The Brain Tumour Charity Theodore Children5 Charity Wainman Twst Willow Foundttlon Woven Refor Zibby Garnett Travel Fellowship Total I,soo 1.500 500 1.520 500 500 750 1,000 2,250 1,000 1,000 1,250 40,550 50.965 Accountancy fees 2023 2022 Accountancy fees payable to the Independent examlner's firm as follows= - Examln2tlon - Accountancy 340 1,940 300 1.860 2,280 2,160
T14E THORESBY C.HARITABLE TRUST NOTES TO THE FINANCIAL ST A TENENTS Year ended 31 March 2023 Investments The Trustees, Itivestmènts were made up as follows- At l A rll 2022 AddltlonslDisposals At 31 March 2023 Marft value Market value Cost Cost Galn Cost Schroder Charity Multl-a5set Fund 1.200,412 1,365,047 {5841 1.199,828 1,254,429 The market value ol the fullowing securities individyally represents greater than 5% of the total market value of the investments and are therefore considered materi21 to the fEn2ncial statements. Market value at 31 MaY¢h 2023 total investments Schroder Charicy Multl-assot Fund 1,254,429 loo% Marl<et value At l April 1022 Equalisation Net loss on revaluation 1,365,047 {5841 1110,0341 1,254,429 At 31 March 2023 nvestments at market Yalue consist of UK listed Investments 1,254.429
I'HE THORESBY CHARITABLF. TRUST NOTES TO THE FI NANCIAL ST A TEMENTS Year ended 31 March 2023 Debtors 2023 2022 Gift kid debtor Other debtors 3,750 528 3,750 528 Tru5tèe$' remuneration and expenses Neither the Trustees nor any person connected with them received any remuneration or reimbursement of expenses durin8 the year. Creditors: amounts falllng due wlthln one year 2023 2022 Account2ney Invesiment m2nagement fee5 3,400 3,600 3,700 3,600 7,000 7,300 Financlal assets and liabllltles The charity h&s financial assets and financltt liabilÉ¢ies of 2 klnd thit qualify as basic financi21 instruments. These are Inltlally recognlsed at transaction Vdlue and subsequendy meksured at theÈr amoriised COSL Financlal assets 2023 2022 Cash at bank and In hand Glft aid debtor Other debtors 5&774 3,750 34,913 528 62,524 35,441 Financial Ilablllties Other creditor5 2nd aecruals 7,000 7,300 7.000 7.300