2022-01-31-accounts

THE THOMPSON FAMILY CHARITABLE TRUST

A NUAL REPORT A D FINANCIAL STATEMENTS

YEAR E DED 31ST JANUARY 2022

Registered Charity in England and Wales Number 326801

THE THOMPSON FAMILY CHARITABLE TRUST

CONTENTS

Page I Reference and Administrative Information Pages 2 to 3 Report of the Trustees Pages 4 to 5 Report of the fndependent Auditor Pagc6 Statement of Financial Activities Page 7 Balance Sheet Page 8 Statement of Cash Flows Pages 9 to 14 Notes to the Financial Statements

REFERENCE AND ADMINISTRATIVE INFORMATION

TRUSTEES AND PATRICIA THOMPSO CBE CUSTODIAN TRUSTEES KATHARINE WOODWARD ROY COPUS MA ACA ADDRESS HlLL5DOWN COURT 15 TOTTERIDGE COMMON LONDON N20 8LR REGISTERED NUMBER Charily Number 32680 I AUDITORS RSM UK AUDIT LLP, Chartered Accountants, St. Olafs Hall, Church Road, Lerwick. Shetland ZEI 0FD. BANKERS BARCLAYS BANK PLC, I Churchill Place. London. E14 5HP. COUTTS & CO .. 440 Strand, London, WC2R 0QS STOCKBROKERS AND WALKER CRlPS INVESTMENT MANAGEMENT LIMITED CUSTODIANS OF TRUST ASSETS 128 Queen Victoria Street, London EC4V 4BJ. CANACCORD GENUITY WEALTH MANAGEMENT 41 Lothbuiy , London EC2R 7AE. SOLJCITORS SOLOMON TAYLOR & SHAW, 3 Coach House Yard, Hampstead High Street, London NW3 l QF.

THE THOMPSON FAMILY CHARITABLE TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST JANl'ARY 2022

The Trustees present their annual report along with the financial statements of the Charily for the year ended 31 st January 2022. The financial statements have been prepared in accordance with the accounting policies set oUL in note I and comply with the Charity's trust deed. lhe 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 the Republic of Ireland effective I January 2019 ("FRS I 02").

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Thompson Family Charitable Trust is constituted under a settlement deed dated 15th January 1985 and is a registered charity in England and Wales (no. 326801 ). The trust fund is derived entirely from a gift from Mr David Thompson CBE. The Charity does not seek to raise funds from external sources, and carries out the charitable activities desired by the donor and other Trustees through careful stewardship of its existing resources. The address of the charity is noted on page I.

The Trustees who have served during the year and since the year-end are set out on page J. Trustees are appointed by the Board of Trustees, and under the terms of the settlement deed. the number of Trnstees shall never be less than two or more than seven. Incoming Trustees are instructed in their duties and responsibilities by the Board, also making use of written guidance provided by the Charity Commission. The Trustees are jointly responsible for the running of the affairs of the Charity. There are no employees and therefore there is no policy for setting pay.

RISK MANAGEMENT AND GOING CONCERN

The Trustees have examined imd reviewed the major risks to which the Charity is exposed. and have established systems to mitigate those risks. Further information concerning financial risks is given in note 5.

The Trustees have considered the potential impact of Covid-19 on the Trust's ability to continue as a going concern and are satisfied that it has sufficient I iquidity and expendible resources to meet its foreseeable commitments.

OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT

The object of the Charity is the making of grants and donations to charitable bodies or for charitable purposes. Aggregate donations since the creation of the Charity to 3 I st January 2022 total approximately £88.4 million (202 I: £79.5 million).

The Trustees confinn that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives and in planning future activities and set.ting the grant making policy. Grants are only made 10 registered charities or for charitable purposes, and the Trnstees review the financial statements of recipients both before and after the making of grants in order to monitor the way in which the Charity's grants are employed. Note 3 provides an indication of the wide range of charitable activities that have been awarded grants in recent years.

GRANT MAKING POLICY

The Trustees meet as regularly as is necessary to assess grant applications. Applications for donations are invited from all categories of registered charity. Applications should be in writing in the first instance, and sem Lo the Trustees at the Charity's address. noted on page I.

INVESTMENT POLICY

There are no restrictions over the Charity's power to invest. The investment strategy of the Trnstees aims to achieve a satisfactory return in the context of prevailing market conditions from income and capital appreciation withoUL resorting to a high risk profile. Investments are selected by the Tnistees with a view to ensuring a sufficiem level of income and liquidity with which to make grants and donations. The Trustees are satisfied that the year's investment returns were in keeping with the above strategies.

FINANCIAL REVIEW

The funds of the Charity, which are unrestricted, stood at £II 3.8 million (2021: £123.1 million) at the commencement of the year. Income generated by this fund total led £6.8 million (2021: £7 .3 million) and £8.9 million (2021: £ 18.0 million) was paid in grants to other institutions. The balance after minor administration costs and net losses of £0.6 million (2021: gain of £1.4 million) on revaluations and disposals of investment a�sets has been aggregaied with the fund, bringing the fund balance at the end of the year to£ I I I. I million (2021: £II 3.8 million).

2

THE THOMPSON FAMILY CHARITABLE TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST JANUARY 2022

ACHIEVEMENTS AND PERFORMANCE

Grants totalling £8.9 million were made during the year bringing aggregate donations up to £88.4 million. The Charity's quoted investments performed well at. a difficult lime, contributing lO net income and gains of £6.2 million (2021: £8.7 million), resulting in an increase in the average annual investment return for the last ten years to 10.2% (2021: 9.9%). The Charity is a long-term investor and it considers investment returns over e , tended periods to be the best guide to investment perfonnance, particularly in view of recent high levels of financial market volatility and the continuing uncertainty regarding world economic prospects.

RESERVES POLICY AND PLANS FOR THE FUTURE

Aggregate funds at 31 st January 2022 stood at £111.1 million (2021: £113.8 million). It is the policy of the Charity ro hold reserves which will enable the Trnst lo make major donations for capital projects (for example to fund the construction and endowment of new medical or educational facilities). A donation in this category (£12.0 million pledged to King Edward Vil Hospital) was made in the prior year. and other appropriate capital projects are currently being investigated. Further v information regarding reser es is contained in note 8. In addition to supporting capital projects the Trnst will continue to make grants to other registered charities.

STATEMENT OF RESPONSIBILITIES OF THE TRUSTEES

The trnstees are responsible for preparing the Trnstees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generali) Accepted Accounting Practice).

The law applicable to charities in England and Wales requires Trnstees to prepare financial statements for each financial year. Under that law the Trnstees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure. of the charity for that period. In preparing these financial statements, the trnstees are required to:

• select suitable ac.counting policies and then apply them consistently; observe the methods and principles of the Charities SORP; make judgements and estimates that arc reasonable and prndent;

• state whether applicable UK Accounting Standards have been followed. subject to any material departures disclosed and explained in the financial statements; and

• prepare t!he financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation.

The Trnstees are responsible for keeping accounting rt.-cords which disclose with reasonable accuracy the financial position of the Charity and which enable them to ascertain the financial position of the Charity and which enable them to ensure that the financial statements comply with the Charities Act 201 I, the Charity (Accounts and Reports) 2008 Regulations and the provisions of the trnsr deed.

The Trnstees are responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT OF DISCLOSURE TO AUDITOR

• (a) so far as the Trustees are aware, there is no relevam audit in.formation of wllich the Charity's auditors are unaware. and (b) the Trustees have taken all the steps that they ought to have taken as Trustees in order to make themselves aware of any relevant audit information and 10 establish that the Charity's auditors are aware of that information.

Approved by the Trustees on 22 November 2022 and signed on their behalf by:

R.B. COPUS Trustee

3

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE THOMPSON FAMILY CHARITABLE TRUST

Opinion

We have audited the financial statements of The Thompson Family Charitable Trust (the 'charity') for the year ended 31 January 2022 which L'Omprise the Statement of Financial Activities, the Balance Sheet. the Statement of Cash Flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS l02 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" (United Kingdom Generally Accepted Accounting Practice).

Ln our opinion the financial statements:

• give a true and fair view of the state of the charity's affairs as at 31 January 2022 and of its incoming resources and application of resources for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Charities Act 201 l.

Basis for opinion

We have been appointed as auditors under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.

We conducted our audit in accordance with International Standards on Auditing (UK) (lSAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have perfonned, we have not identified any material uncertainties relating to events or conditions that. individually or colleccively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the inforn,ation included in the Annual Report other than the financial statements and our auditor's report thereon. The trnstees are responsible for the other infonnation contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, we do not express any fonn of assurance cone! us ion thereon.

Our responsibility is to read the other infonnation and. in doing so, consider whether the other infonnation is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent maierial misstatements, we are required to detennine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have perfonned, we conclude that there is a material misstatement of this other infonnation, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing co report in respect of the following matters where the Charities Act 2011 requires us to report to you if, in our opinion:

the infonnation given in the financial statements is inconsistent in any material respect with the Report of the T rustees; or sufficient accounting records have not been kept; or

• the financial statements are not in agreement with the accounting records and returns; or

• we have not received all the information and explanations we require for our audit.

Responsibilities of trustees

As explained more fully in the Statement of Responsibilities of the Trustees set out on page 3, the cnistees are responsible for the preparation of the financial statements and for being satisfied th81 they give a true and fair view, and for such internal control a� the trustees determine is necessary to enable the preparation of financial stalernents that are free from material misstatement, whether due lo fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going cont-em, disclosing, as applicable, matters relating to going concern and using the going concern basis of accounting unless the trnstees either intend to liquidate the charity or to cease operations. or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement. whether due to fraud or er r o , and to issue an auditor's report that indudes our opinion. Reasonable assurance is

4

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE THOMPSON FAMlLY CHARITABLE TRUST (CONTINUED)

Auditor's responsibilities for the audit of the financial statements (continued)

a high level of assurance, but is not a guarantee that an audit conducted with ,SAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to i11fluence the economic decisions of users taken on 1he basis of these financial statements.

The extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities are insiam.--es of non-compliance with laws and regulations. The objectives of our audit are to obtain sufficient appropriate audit evidence regarding compliance with laws ,md regulations that have a direct effect on the detennination of material amounts and disclosures in the financial statements, to perfonn audit procedures 10 help identify instances of non-compliance with other laws and regulations that may have a material effect on the financial statements, and to respond appropriately to identified or suspected non-compliance with laws and regulations identified during the audit.

In relation to fraud, the objectives of our audit are to identify and assess the risk of material misstatement of the financial statements due to fraud, to obtain sufficient appropriate audit evidence regarding the asse s ed risks of material misstatement due 10 fraud through designing and implementing appropriate respo11ses and to respond appropriately to fraud or suspected fraud identified during the audit.

However, it is the primary responsibility of management, with the oversight of those charged with governance. to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.

• In identifying and assessing risks of material misstatement in respect of irregularities, including fraud, the audit engagement team: obtained an understanding of the namre of the sector. including the legal and regulatory framework, that the charity operates in and how the charity is complying with the legal and regulatory framework; inquired of management. and those charged with governance, about their own identification and assessment of the risks of irregularities, including any known actual. suspected or alleged instances of fraud; discussed matters about non-compliance with laws and regulations and how fraud might occur including a s essment of how and where the financial statements may be susceptible to fraud.

As a result of these procedures we consider the most significant laws and regulations that have a direct impact on the financial statements are FRS 102, Charities SORP (FRS 102), Charities Act 201 I and the parent charity's goveming document. We performed audit procedures to detect non-compliances which may have a material impact on the financial statements which included reviewing the financial statements including the Report of the Trustees and remaining alert to new or um1sual transactions which may not be in accordance with the goveming documents.

The audit engagement team identified the risk of management override of controls as the area where the financial statements were most susceptible to material misstatement due to fraud. Audit procedures performed included but were not limited to testing manual journal entries and other adjustments, evaluating the business rationale in relation to significant. unusual transactions and transactions entered into outside the normal course of business and challenging judgments and estimates.

A further description of our responsibilities for the audit of the financial statements is provided on the Financial Reporting Council's website at http://www.frc.org.uk/auditorsresponsibilities. This description fo1ms part of our auditor's report.

Use of our report

This report is made solely to the charity's trnstees, as a body, in accordance with the Charities Act 201 I. Our audit work has been undertaken so that we might state to the chari1y's trustees those matters we are required to state to them in an auditor's repo11 and for no other purpose. To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other 1han !he charity and the charity's trus1.ees as a body, for our audi r work, for this report. or for the opinions we have fanned.

RSM UK Audit LLP

RSM UK Audit LLP Statutory Auditor Chartered Accountants St. Olafs Hall, Church Road, Lerwick, Shetland ZEI 0FD.

22/11/22

RSM UK Audit LLP is eligible to act as an auditor in terms of section 1212 of the Companies Ac1 2006

5

THE THOMPSON FAMILY CHARITABLE TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST JANUARY 2022

		2022	2021
		Unrestricted Funds	Unrstricte Funds
	Notes	£	£
INCOME FROM:
Investment	2	6,812,026	7,336.271
Tot income		6.812,026	7,336,271
EXPENDITURE ON:
Charitable actvitie
Charitable donations and grants	3	(8 .866,500)	(18,088,000)
S uppm1 and goverance costs	4	(7,857)	(7.540)
Total expenditur		(8,874,357)	(18,095,54)
NET INCOMEI(EXPENDITURE) AND NET
MOVEMENT IN FUNDS BEFORE GAINS
AND LOSSES ON INVESTMENTS		(2.062.331)	(10,759,269)
Gains_I_(losses) on investments	5	(647,530)	1,432.114
NET MOVEMENT lN FUNDS		(2,709,861)	(9,327.155)
RECONCILIATION OF FUNDS
Total fndsbroughtfrad	8	113,781.557	123,108,712
TOT AL FUDS CARRIED FORWARD	8	111,071,696	113.781,557

6

THE THOMPSON FAMILY CHARITABLE TRUST

BALANCE SHEET AT 31ST JANUARY 2022

		2022	2022	2021	2021
	Noles	£	£	£	£
FIXEDASSETS
lnvestments	5		116.583.456		I l l.l25.529
CURRENT ASSETS
Debtors	6	281,703		337,487
Cash at bank		5,457.560		14,482,684
Total current assets		5,739,263		14,820,171
CURRENT LIABILITIES
Creditors fal ing due within one year	7	(11,251,023)		(12,164,143)
NET CURRENT ASSETSI(LIABILITES)			(5,511,760)		2,656,028
NET ASSETS			111.071,696		113,781,557
FUNDS OF THE CHARITY
Unrestricted funds	8		I I 1,071 ,696		113,781,557
TOT AL CHARITY FUNDS			111,071,696		113,78 I ,557
Registered Charity in England and Wales Number		326801

The notes on pages 9 to 14 fonn prut of these finru1cial statements.

The financial statements were approved by the Trustees on 22 November 2022

,md were signed on their behalf by:

R.B. COPUS Trustee

7

THE THOMPSON FAMILY CHARITABLE TRUST

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31ST JANUARY 2022

OPERATING ACTIVITIES Donations paid Administration and governance costs Cash use in opertng activitie INVESTING ACTIVITlES Interst and similar incme received Property income reeive Purchase of investments Disposal of investments Net csh prvided by inveting activitie CHANGE IN CASH AND CASH EQUTV ALENTS IN THE YEAR Cash and csh euivalents brught fnvard 2022 (9 .766,500) (7,857) 6.759,700 94.990 (6,105,457) CASH AND CASH EQUIV ALE TS CARRIED FORWARD	2022 2021 £ £ (6,093,000) (8,0) (9,774,357) 7,307,123 16,624 13,177,487 749,233 (9,025,124) 14,482,684 5,457,560	2021 £
		(6,101.040) 20,501,234
		14,400,194 82,490
		14,482,684

8

THE THOMPSON FAMILY CHARJTABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS

1 ACCOUNTING POLICIES

Basis of Preparation and As.ses ment of Going Concern

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these financial statements. The financial statements have been prepared in accordance with the Statement of Rewmmended Practice: 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) effective I January 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 201 I. The Charity constitutes a public benefit entity as defined by FRS I 02. The Tmstees consider that there are no material uncertainties which could affect the Charity's ability to continue as a going concern. In making this assessment. the Tmstecs have specifically considered recent uncertainty cr e at d by the Covid-19 virus, which is not expected to have any material Jong-term adverse consequences for the Tmsl.

Investment Income Recognition

Interest income and rents are credited Lo the Statement of Financial Activities on an accmals basis. Dividends are accounted for when received, as this is when both the charity's entitlement ro receive payment and the probability of receipt are certain.

Expenditure Recognition

Expenditure is included on an accmals basis. Grants and donations payable arc charged in the year in which the payment is notified to the recipient, except in those cases where the grant is conditional, such donations being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment. but are not accrued a5 expenditure.

Financial Instruments

Financial instruments which are quoted investments are initially recognised at their transaction value and are subsequently measured at their fair value a� at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year. The Charity does not hold options, derivatives or similar complex financial instmments.

Other basic financial instmments such as cash deposits, receivables and creditors that do not constitute a financing transaction are initially recorded at the transaction value and are subsequently measured at amortised cost.

Fixed Asset Investment Properties

Investment properties are valued annually by the Trnstees on an open market basis and the surplus or deficit is taken to the Statement of Financial Activities. No depreciation or amortisation is provided in respect of fr e hold investment properties, as these properties are held for investment rather than consumption and the Tmstees believe that systematic annual depreciation would be inappropriate. Depreciation is only one of many factors reflecred in the annual valuation and the amount which otherwise might be shown cannot be separately identified or quantified. Investment properties are let under operating leases Lo third parties. Rental income from operating leases is included in the statement of financial activities on an accruals basis.

Fund Accounting

All funds are unrestricted and are avai I able for use at the discretion of the Trustees in the furtherance of the general objectives of the charity and have not been designated for any other purpose.

Critical Judgements

Estimates and judgements are continually evaluated and arc based on historical experience and other factors. including expectations of future events that are believed to be reasonable under the circumstances. The charity makes estimates and assumptions concerning the future but accounting estimates and a s umptions will. by definition, seldom equal the related r ae,tual results Thee are no estimates and assumptions that, in the Trustees' view, have a significant risk of causing a material adjustment to the carrying value of assets and liabilities within the next financial year.

9

THE THOMPSON FAMILY CHARITABLE TRUST

OTES TO THE FINANCIAL STATEMENTS (CONTINUED)

INVESTMENT INCOME Interest r ived on cash deposits lncome from quoted fxed interest securities & preference shares Operating net lese rentals reive on investment properties CHARITABLE DONATIONS AND GRANTS Ambitious about Autism BAFTA Beyond Autism Binningham Ormiston Academy Theatre Binningham Women's & Children's Hospital Charity Brek - Changing Young Lives British Horse Society British Racing School Eduction British Thorughbred Retrning Centre Cambridge Women's Aid Carboard Citizns Carers in Hertfordshire Cancr Support Centre, Sutton Coldfield Centrepoint Chadlington Primary School Chicken she Theatre Trnst Chipping Campdcn Music Festival Deborh Roger Foundation Devon Freewhelers Donmar Warhouse Projects Est Anglia's Children's Hospices Est Anglian Air Ambulanc Erdington Foodbak Fare Share Felix Project Forwar Trust Friends of the ational Horseracing Museum Great Ormond Street Hospital Children's Charity Grenhouse Sports Hedway: the Brain Injury Association Hearing Dogs fr De People Hospice Charity Panership lnj un-xl Jockeys Fund Institute of Cancer Reserch Kidney Research UK King Edward VII Hospital John Taylor Hospice Charity Lndon Air Ambulace London Symphony Orchestr Longborough Festival Opera Love Burt Oak Macmillan Cancer Support Mind Multiple Sclerosis Society National Gallery National Horseracing Museum Carrie frward	2022 £ 23,J 37 6,738,889 50,000 6,812,026 2022 £ 150,000 100,000 25,000 50.000 50,000 50,000 30,000 30,000 100,000 10,000 50,000 5,000 15,000 10,000 100,000 300,000 1,000 5.000 50,000 50,000 100.000 500,000 200,000 100,000 50,000 25,000 5,000 100,000 500,000 20,000 20,000 10,000 15,000 300,000 100,000 100,000 300,000 5,000 3.631,000	2021 £
		20.861 7,265,410 50,0
		7,336,271
		2021 £
		100,000 100,000 35,000 5,000 5,000 50,000 10,000 20,000 50,000 30,000 5,000 100,000 25,000 10,000 100,000 300,000 1,000 100,000 50,000 200,000 50,000 50,000 100.000 5,000 12,000.000 5.000 10,000 15,000 300,000 50.000 100,000 300,000
		14,281,000

2 INVESTMENT INCOME

3 CHARITABLE DONATIONS AND GRANTS

14,281,000

10

THE THOMPSON FAMILY CHARJTABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

3	CHARITABLE DONATIONS AND GRANTS (CONTINUED)	2022	2021
		£	£
	From page 10	3,631,000	14,281,000
	National Literacy Tmsr	50,000
	ational Youth Orchestra	100,000
	Newmarket Day Centre		10,000
	101th London Hospice	50.000	50,000
	Opera North		5,000
	Our Special Friends	500
	Outward Bound Trust	100.000	50,000
	Oxford Philharmonic Orchest.ra Trust	20,000
	Oxford Playhouse Tmst	15,000	15,000
	The Passage	100,000	100,000
	Pathway Project	5,000
	Placc2be		50,000
	Power to Inspire	5,000
	Pret Foundation Tmsr	50,000
	Primary Shakespeare Company	50,000	50,000
	Queen's Club Foundation	10,000	10,000
	Racing Welfare (2 grants in 2022)	120,000	100,000
	Riding for the Disabled Association	50,000
	Rose Paterson Tmst	10,000
	Royal Academy of Music (2 grants in 2022)	500.000	300,000
	Royal Albert Hall	1,000.000	500,000
	Royal Ballet School	300,000	250,000
	Royal Brompton & Harefield Hospitals Charity		50,000
	Royal Commonwealth Society for the Blind		5.000
	Royal Foundation	500.000	500,000
	Royal National Theatre (2 gmnts in 2022)	503,000	500,000
	Royal Opera House Covent Garden Foundation	105,000	100,000
	Royal Osteoporosis Society	50,000
	Royal Society of Medicine (2 grants in 2021)	200,000	101,000
	Royal Veterinary College	25,000
	St. Andrew's Church, Totteridge		100.000
	St. Andrew's Primary School	50.000
	St. John's College Oxford	250,000	250,000
	St. Mary's Church. Cheve!ey	500	1,000
	Scene and Heard	50,000	50,000
	Smart Works	10,000
	Snow Sports Foundation	50,000	50,000
	Spinal Injuries Association		50,000
	Sports Aid Tmst	200,000	100,000
	Suffolk Horse Society	5,000
	Tender	50.000	50,000
	Tennis First	20,000
	Tmants Foundation	15,000
	University College London Hospitals Charity	50,000	50.000
	Urology Foundation (2 grants in 2022)	303,500	300.000
	Victoria and Albert .vfuseum	100,000
	War Child	3,000	50,000
	We Are All Making a Difference Charitable Tmst		5,000
	Wei being of Women	100.000
	Witton Lodge Community Association	5,000
	Working Chance	50,000
	World Horse Welfare	5,000	5,000

8,866.500

18,088,000

II

THE THOMPSON FAMILY CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

4	SUPPORT AND GOVERNANCE COSTS	2022	2021
		£	£
	Support costs	12
	Governance costs- audit fee	7.845	7,540
		7.857	7,540

No payment of remuneration or expenses has been made to any of the Tmstees (202 L: £nil) and the Charity has no employees (2021: nil). There were no related party transac.:tions in the year or the prior year.

5	FIXED ASSET INVESTMENTS	Freehold	Quoted	Cash	Total
		properties	investments	deposits	investments
		£	£	£	£
	Markel value at I st Febmary 2021	575,000	110,485,745	64,784	I 11,125,529
	Additions at cost		2.125,626	3,979.831	6.105,457
	Disposal proceeds
	Gains/(losses) in the year		(647,530)		(647,530)
	Market value at 31st January 2022	575,000	111,963,841	4,044,615	116,583,456
	Historical cost at I SL Febmary 202 I	2,248,125	95,254,022	64,784	97,566,931
	Historical cost at 31st January 2022	2,248,125	97,373.337	4,044.615	103,666,077

All investments are in the UK, and the valuation of the properties has been carried out by the Tmstees after taking advice from a Chartered Surveyor (Andrew Oliver BSc MRICS) whose last formal valuation was as al 31 January 2020. Quoted investments at the year end and at rhe prior year end were represemed entirely by fixed income securities and preference shares apart from £245,241 (202 I: £nil) invested in equities. At 31 st January 2022, the following investments represented more than 5% of total investments:

(202 I: £nil) invested in equities. At 31 st January 2022, the fo	llowing investments r
	£
Lloyds Banking Group 13% Fixed Income Securities	27.207,960
Nationwide 10.25% CCDS	31.890,256
Lloyds Banking Group 9.25% Preference Shares	17,010,349
Aviva 8.375% Preference Shares	8,613,804
Aviva 8.75% Preference Shares	8,709,154

The main fonn of financial risk faced by the Charity is that of volatility in investment markets due to wider economic conditions. the attitude of investors to investment risk, and changes in sentiment within investment sectors or sub-sectors. The Trustees seek to mitigate those risks by monitoring investment markets on a daily basis and adjusting the investment stmregies accordingly.

6	DEBTORS FALLING DUE WITHIN ONE YEAR	2022	2021
		£	£
	Accmed income	281,350	279,376
	Balance due from stockbrokers	353	I
	Property-related receivables		58,110
		281,703	337,487

12

THE THOMPSON FAMILY CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

7	CREDITORS FALLING DUE WITHIN	2022	2021
	ONE YEAR	£	£
	Rents and other propeny income received in advance	48.092	61,151
	Donations pledged but not yet paid at year end	11,195,000	12,095.000
	Accruals	7,000	7,000
	VAT payable	931	992
		11,251,023	12,164,143

There are no capital or other commitments at 31 st January 2022 (2021: £nil).

8	FUNDS	2022	2021
		£	£
	Unrestricted funds brought forward	113,78 I ,557	123.108.712
	et increase/ (decrease) for the year	(2,709,861)	(9,327,155)
	Unrestricted funds carried forward	I_l_1,071,696	113,781,557

All funds arc unrestricted. and may be distributed in any way which is consistent with the charitable objects of the Trust. The Trustees. however, anticipate that approximately £50 million of the funds may be utilised on the future capital projects referred to in the Report of the Trustees.

9	FfNANCIAL INSTRUMENTS	2022	2021
		£	£
	Financial assets at fair value
	Quoted investments	111,963,841	110,485,745
	Financial assets that are debt instruments
	measured at amortised cost
	Cash deposits included in investmems	4,044,615	64,784
	Accrued income receivable	281,350	279,376
	Balance due from stockbroker	353
	Other receivables		58,110
		4,326,318	402,271
	Financial liabilities
	measured at amortised cost Donations pledged but not yet paid at year end	11,195,000	12,095,000
	Other creditors	7,000	7,000
		11,202,000	12,102,000

13

THE THOMPSON F AM1L Y CHARITABLE TRUST

�OTES TO THE FINANCIAL STATEMENTS (CONTINUED)

10 OPERATING LEASE INCOME

The future minimum lease payments due to be received under non-cancellablc operating lea5es are as follows:

	2022	2021
	£	£
Receivable within one year	50,000	50,000
Receivable later than one year and not later than five years	200,000	200,000
Receivable in five years or more	25,000	75,000
	275,000	325,000

14