## **THE THOMPSON FAMILY CHARITABLE TRUST** ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31ST JANUARY 2025 Registered Charity in England and Wales Number 326801 **THE THOMPSON FAMILY CHARITABLE TRUST** ## **CONTENTS** Page 1 Reference and Administrative Information Pages 2 to 3 Report of the Trustees Pages 4 to 5 Report of the Independent Auditor Page 6 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 THOMPSON CBE **CUSTODIAN TRUSTEES** KATHARINE WOODWARD ROY COPUS MA ACA **ADDRESS** HILLSDOWN COURT 15 TOTTERIDGE COMMON LONDON N20 8LR **REGISTERED NUMBER** Charity Number 326801 **AUDITORS** AJB Scholes Ltd, Chartered Accountants, St. Olaf's Hall, Church Road, Lerwick, Shetland ZE1 0FD. **BANKERS** BARCLAYS BANK PLC, 1 Churchill Place, London, E14 5HP. **STOCKBROKERS AND** BARCLAYS BANK PLC, 1 Churchill Place, London, E14 5HP. **CUSTODIANS OF TRUST ASSETS** CANACCORD GENUITY WEALTH MANAGEMENT 88 Wood Street London EC2V 7QR. **SOLICITORS** SOLOMON TAYLOR & SHAW, 3 Coach House Yard, Hampstead High Street, London NW3 1QF. 1 **THE THOMPSON FAMILY CHARITABLE TRUST** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST JANUARY 2025** The Trustees present their annual report along with the financial statements of the Charity for the year ended 31st January 2025. The financial statements have been prepared in accordance with the accounting policies set out in note 1 and comply with the Charity's trust deed, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland effective 1 January 2019 ("FRS 102"). ## **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 current Trustees through careful stewardship of its existing resources. The address of the charity is noted on page 1. The Trustees who have served during the year and since the year-end are set out on page 1. Trustees are appointed by the Board of Trustees, and under the terms of the settlement deed the number of Trustees 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 and 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 Trust's ability to continue as a going concern and are satisfied that it has sufficient liquidity and expendable 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 31st January 2025 total approximately £118.9 million. The Trustees confirm 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 setting the grant making policy. Grants are only made to registered charities or for charitable purposes, and the Trustees 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. Recipients of grants are selected by the trustees based on their own research, and in order to minimise administration costs the Charity reserves the right not to acknowledge or respond to unsolicited requests for funding. ## **GRANT MAKING POLICY** The Trustees meet as regularly as is necessary to consider potential grants and the trustees give consideration to all categories of registered charity. ## **INVESTMENT POLICY** There are no restrictions over the Charity's power to invest. The investment strategy of the Trustees aims to achieve a satisfactory return in the context of prevailing market conditions from income and capital appreciation without resorting to a high risk profile. Investments are selected by the Trustees with a view to ensuring a sufficient 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 £82.0 million (2024: £85.0 million) at the commencement of the year. Income generated by this fund totalled £6.3 million (2024: £6.4 million) and £8.4 million (2024: £7.7 million) was donated in grants to other institutions. The balance after minor administration costs and net gains of £2.1 million (2024: loss of £1.8 million) on revaluations and disposals of investment assets has been deducted from the fund, bringing the fund balance at the end of the year after rounding adjustments to £82.0 million (2024: £82.0 million). 2 THE THOMPSOY FAN11LTr' CH.ARIT.ABLE TRL'ST REPORT OF THE TRLSTEES FOR THE I'E.4R ENDED 31ST J.4NI.4RI" 202. AcHIEV'E￿IEYTs AN'D PERFOR.11.4NCE GrAntg t4)(alling £8.4 million iiere made dLSring ihe i tar bringing 38Brwtr iknnaiions up ￿ £l18.9 niillion. The C'harit}'S qUL)tcd fiiLd inL￿￿LI ini L￿￿linued io LIL)nerJ￿ su1￿.￿￿11aJ inc'vtne. and their L'JpiuI rnJrL"Lii i dluL¥ hJs itnprvi L.d Jurinki Ihe I'var due in pdn li) Ihe ￿Orld11 dLxrease iFJ interesi raies. The Chariii is a long-ierni ini esior 8nd IÈ LX)nsiderg ini esimeni reiurns o¥er elieiided PLfl()d% ic) b¥ Ihc b￿1 gJuiJ¢ ic) ini csimcnt FKrl-orTn3nLc. paniLularli in i i¢44 ofrtieni hiLih lei els ot. fili￿LIa] markei i olaiili(!. anii (he c(Iniinuing unienaini} regarding ii(Ir14J eLonomiL prO5￿ts. The aierdge dnnual ini esimeni reiurn ui er lhel4￿1 len J vars been 6.?Q/o. RESERN'ES POLICI. AND PLANS FOR THE FL TL'RE Aggregaie lunds ai 31 si Januarn ?O?i stood ai £8?.0 rnillion i?0?4.. £8?.0 millionl. It is the p)lic! of the Charli} w hold rL5eTre5 il'hich ii'ill enable ihe Twsi io mak-e major thnaiions for ¢apiial projects Ifor L.Kample io fund ihL' consiru¢tiun dnd endc)ii ment ofneii. mL4di¢41 or edu¢alional faciliiie%l. A (k)n&ion in this Laieoon 1 £7.) million pledg￿ iu CambridgL' C'hi IdrLn's I Ic)sPitall i¥iLS madL in ?()?" ). and oiher appropriaic Ldpithl pnijccls dfc Cu￿L'n[lI being ini esiigdied. F urthL'r inl()rmaiii)n regarding resc￿ is Lonlaincd in noic 8. In addiiion lo supkx)rting ￿p1th1 projeLiS ihe I rusi li ill coniinuL io mdkL rL'NLlluL grants 10 oiher r¢b)isi¢red Ch￿￿1[1￿). STA"fEMLNT OF RESPONSIBILITIES OF THE TRI STEES 'I'hL IruslL'es rL'5fK)n5iblL l(Ir prL'Piiring ihe Trustees RetM)n and the linancial stsiemenis in accordancc ￿'1th applicable la% und Ilnited Kingdom A¢¢ounting Siandards i United King(k)m (ienerdll! Accepied Accounting Prnciicel. 'I'hL. lam applicable to LhariLi¢S in F.ngland and Il'-ales require4 Trustees to prnyarL. IinanLial siaiLm¢nLs for each linancial sear. lJndLr (hat laii IhL'-frvsiixs musi t)ot approil thL linancial sthtements unless ihe! arc salisfiLxl that Ihci gli c a truL and lair VILl%" ol. Ihc 8iaiL ol-allairs ol-lhe charit! and ol'ihe incoming resources and appliLaiion ol- rcsourL'es. includin8 ihe incumL' anij r￿nditure. ill. Ihe ¥hi￿lI}. for that peri¢)d. In kyeparing these financial statem¢nw the irusiees are required to: scl¢a suiiable accnuniing rx)IjLiL￿ and IhLn appl! Ihim Lonsistenil!.: i)b%LrnL> tht. meihi)ds and principlLS ol.the C hariiiL% SC)RI): make.judg¥Yninis anJ L￿tim￿ll5 thai Jrl rrasonablL' and prudLmt: -51ale heiher appliLabl¢ I IK ALLX)uniing Sundards haie ken folloiied. subjeci io an) malerial depilrture5 diSLIosed and Liplained in ihe financial 5tslernen￿: and pr' rclei'ant audii infom)aiion and to estsblish th* the Chariil's audi￿r5 ￿ aiiare of th* infomiaiion. Appr(Iwed b!. the Trusiees on ?4th Noi'ember ?O?i and sioned on their behalf bl: K.B. c()pus .1 rustLe ## **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 2025 which comprise 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 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the charity's affairs as at 31 January 2025 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 2011. ## **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) (ISAs (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 performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, 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 information included in the Annual Report other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information 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 material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, 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 to report in respect of the following matters where the Charities Act 2011 requires us to report to you if, in our opinion: - the information given in the financial statements is inconsistent in any material respect with the Report of the Trustees ; 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 trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters relating to going concern and using the going concern basis of accounting unless the trustees 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 error, and to issue an auditor's report that includes our opinion. Reasonable assurance is 4 ## **INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE THOMPSON FAMILY 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 ISAs (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 influence the economic decisions of users taken on the basis of these financial statements. ## **The extent to which the audit was considered capable of detecting irregularities, including fraud** Irregularities are instances of non-compliance with laws and regulations. The objectives of our audit are to obtain sufficient appropriate audit evidence regarding compliance with laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements, to perform audit procedures to 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 assessed risks of material misstatement due to fraud through designing and implementing appropriate responses 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 nature 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 assessment 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 2011 and the charity’s governing 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 unusual transactions which may not be in accordance with the governing 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 forms part of our auditor’s report. ## **Use of our report** This report is made solely to the charity's trustees, as a body, in accordance with the Charities Act 2011. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed. AJB Scholes Ltd Statutory Auditor Chartered Accountants St. Olaf's Hall, Church Road, Lerwick, Shetland ZE1 0FD. ## 24 November 2025 AJB Scholes Ltd is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006 5 **THE THOMPSON FAMILY CHARITABLE TRUST** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST JANUARY 2025** |||**2025**|2024| |---|---|---|---| |||Unrestricted Funds|Unrestricted Funds| ||Notes|£|£| |**INCOME FROM:**|||| |Investment|2|6,298,601|6,437,259| |**Total income**||6,298,601|6,437,259| |**EXPENDITURE ON:**|||| |**Charitable activities**|||| |Charitable donations and grants|3|(8,430,000)|(7,709,673)| |Support and governance costs|4|(11,518)|(11,590)| |**Total expenditure**||(8,441,518)|(7,721,263)| |**NET INCOME / (EXPENDITURE) AND NET**|||| |**MOVEMENT IN FUNDS BEFORE GAINS**|||| |**AND LOSSES ON INVESTMENTS**||(2,142,917)|(1,284,004)| |Gains / (losses) on investments|5|2,122,664|(1,785,908)| |**NET MOVEMENT IN FUNDS**||(20,253)|(3,069,912)| |**RECONCILIATION OF FUNDS**|||| |Total funds brought forward|8|81,973,027|85,042,939| |**TOTAL FUNDS CARRIED FORWARD**|8|81,952,774|81,973,027| 6 ## **THE THOMPSON FAMILY CHARITABLE TRUST** ## **BALANCE SHEET AT 31ST JANUARY 2025** |||**2025**|**2025**|2024|2024| |---|---|---|---|---|---| ||otes|£|£|£|£| |**FIXED ASSETS**|||||| |Investments|5||77.022.317||75.284.726| |**CURRET ASSETS**|||||| |Debtors|6|275.152||261.846|| |Cash al bank||17,178,724||19,446.064|| |**Total current assets**||17.453.876||19,707.910|| |**CURRENT LIABILITIES**|||||| |Creditors falling due within one year|7|( 12.523.419)||( 13.019.609)|| |**NET CURRENT ASSETS/ (LIA Bl LITES)**|||4.930.457||6.688.301| |**NET ASSETS**|||81.952,774||81.973.027| |**FUNDS OF THE CHARITY**|||||| |Unrestricted funds|8||81,952.774||81.973,027| |**TOTAL CHARITY FUNDS**|||81.952. 774||81.973.027| |Registered Charity in England and Wales I umber 32680 I||Registered Charity in England and Wales I umber 32680 I|||| |The notes on pages 9 to 14 form part of these financial statements.|The notes on pages 9 to 14 form part of these financial statements.||||| The financial statements were approved by the Trustees on 24th November 2025 and 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 2025** |**2025**
£
**OPERATING ACTIVITIES**
Donations paid
(8,925,000)
Administration and governance costs
(12,708)
**Cash used in operating activities**
**INVESTING ACTIVITIES**
Interest and similar income received
6,235,295
Property income received
50,000
Purchase of investments
(4,189,927)
Disposal of investments
4,575,000
**Net cash provided by investing activities**
**CHANGE IN CASH AND CASH**
**EQUIVALENTS IN THE YEAR**
**Cash and cash equivalents brought forward**
**CASH AND CASH EQUIVALENTS CARRIED FORWARD**|**2025**
£
(8,937,708)
6,670,368
(2,267,340)
19,446,064
17,178,724|2024
£
(11,059,673)
(11,590)
6,435,291
55,274
-
5,145,000|2024
£| |---|---|---|---| ||||(11,071,263)
11,635,565| ||||564,302
18,881,762| ||||19,446,064| 8 **THE THOMPSON FAMILY CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2025** ## **1 ACCOUNTING POLICIES** ## **Basis of Preparation and Assessment 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 Recommended 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 1 January 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102 and the Charities Act 2011). The accounts (financial statements) have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view'. This departure has involved following 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 1 January 2019) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. The Charity constitutes a public benefit entity as defined by FRS 102. The Trustees 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 Trustees have specifically considered recent uncertainty created by the world economic and political situation, which is not expected to have any material long-term adverse consequences for the Trust. ## **Investment Income Recognition** Interest income and rents are credited to the Statement of Financial Activities on an accruals basis. Dividends are accounted for when received, as this is when both the charity's entitlement to receive payment and the probability of receipt are certain. ## **Expenditure Recognition** Expenditure is included on an accruals basis. Grants and donations payable are 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 as expenditure. ## **Financial Instruments** Financial instruments which are quoted investments are initially recognised at their transaction value and are subsequently measured at their fair value as 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 instruments. Other basic financial instruments 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 Trustees 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 freehold investment properties, as these properties are held for investment rather than consumption and the Trustees believe that systematic annual depreciation would be inappropriate. Depreciation is only one of many factors reflected 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 to 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 available 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 are 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 assumptions will, by definition, seldom equal the related actual results There 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. ## **Functional Currency** The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest pound sterling. 9 **THE THOMPSON FAMILY CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2025 (CONTINUED)** |**2 INVESTMENT INCOME**
Interest received on cash deposits
Income from quoted fixed interest securities & preference shares
Equity dividends
Operating net lease rentals and other property income
**3 CHARITABLE DONATIONS AND GRANTS**
Ambitious about Autism
Anthony Nolan
BAFTA
Beyond Autism
Birmingham City University Development Fund
B: Music
Break - Changing Young Lives
British Film Institute
British Horse Society
British Racing School Education
Cambridge Arts Theatre Trust
Cambridge Women's Aid
Carers in Hertfordshire
Centrepoint
Chickenshed Theatre Trust
ChildVision
Chipping Campden Music Festival
City of London Sinfonia
Deborah Rogers Foundation
Donmar Warehouse Projects
East Anglia's Children's Hospices
East Anglian Air Ambulance
English National Opera
English Stage Company
Fare Share
Forward Trust
Friends of the Old Bakehouse
Great Ormond Street Hospital Children's Charity (2 grants in 2024)
Greenhouse Sports
Headway: the Brain Injury Association (2 grants in 2024)
Hearing Dogs for Deaf People
Injured Jockeys Fund
Jackdaws Educational Trust
Juvenile Diabetes Research Foundation
Kidney Research UK
King George V Fund for Acrors and Actresses
Lily Mae Foundation
London Air Ambulance
London Symphony Orchestra
Longborough Festival Opera
Love Burnt Oak
Macmillan Cancer Support
Maggie's
Magic Breakfast (2 grants in 2025)
Mind (2 grants in 2025)
Moorfields Eye Charity
Carried forward|**2025**
£
1,059,471
5,047,023
142,107
50,000
6,298,601
**2025**
£
150,000
5,000
100,000
-
5,000
-
50,000
15,000
20,000
-
50,000
50,000
65,000
100,000
-
-
5,000
5,000
15,000
100,000
500,000
50,000
30,000
25,000
50,000
100,000
-
150,000
100,000
50,000
25,000
100,000
-
5,000
-
10,000
-
-
30,000
15,000
-
350,000
-
50,000
100,000
-
2,475,000|2024
£| |---|---|---| |||1,122,500
5,125,288
137,893
51,578| |||6,437,259| |||2024
£| |||150,000
-
100,000
24,000
-
5,000
50,000
25,000
20,000
16,860
-
50,000
65,000
100,000
50,000
86,000
5,000
5,000
25,000
100,000
300,000
10,000
20,000
25,000
75,000
100,000
50,000
215,663
100,000
55,000
25,000
100,000
5,000
-
250,000
-
5,000
20,000
20,000
20,000
10,000
350,000
1,000
-
-
100,000| |||2,733,523| 10 **THE THOMPSON FAMILY CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2025 (CONTINUED)** |**3 CHARITABLE DONATIONS AND GRANTS (CONTINUED)**
From page 10
Motor Neurone Disease Association
Multiple Sclerosis Society
Multiple System Atophy Trust
National Gallery
National Literacy Trust
National Opera Studio
National Youth Orchestra
North London Hospice
Opera Holland Park
Outward Bound Trust
Oxford Philharmonic Orchestra Trust
Oxford Playhouse Trust
Papyrus Prevention of Young Suicide
The Passage
Pilgrim Bandits
Pret Foundation Trust
Primary Shakespeare Company
Prostate Cancer UK
Queen's Club Foundation
Racing Centre
Racing Welfare
Regents Opera
Riding for the Disabled Association
Royal Academy of Music
Royal Albert Hall
Royal Ballet School
Royal Foundation
Royal Marsden Cancer Charity
Royal National Theatre (2 grants in 2025)
Royal Opera House Covent Garden (2 grants in 2024 & 2025)
Royal Osteoporosis Society
Royal Shakespeare Company
Royal Society of Medicine (2 grants in 2025)
Royal Veterinary College
St. Andrew's Primary School
St. John's College Oxford
St. Mary's Church, Cheveley
St. Mary's Church, St Albans
St. Paul's Cathedral
Scene and Heard
Screen Academy Foundation
Shakespeare Globe Trust
Snow Sports Foundation
Sports Aid Trust
Tender
Theatre Royal Bury St Edmunds
Tommy's (2 grants in 2024)
University Hospitals Birmingham Charity
Urology Foundation (2 grants in 2024 and 2025)
Victoria and Albert Museum
Wellbeing of Women (2 grants in 2025)
Young Vic Company|**2025**
£
2,475,000
-
100,000
-
300,000
50,000
5,000
-
50,000
10,000
100,000
30,000
40,000
25,000
200,000
-
-
75,000
100,000
10,000
20,000
100,000
10,000
-
500,000
500,000
250,000
500,000
5,000
550,000
500,000
-
30,000
300,000
25,000
-
100,000
-
-
50,000
50,000
200,000
10,000
100,000
250,000
50,000
25,000
-
15,000
600,000
-
110,000
10,000
8,430,000|2024
£| |---|---|---| |||2,733,523
2,000
100,000
5,000
300,000
-
5,000
100,000
50,000
-
75,000
60,000
50,000
25,000
100,000
5,000
50,000
50,000
-
10,000
-
100,000
-
50,000
350,000
500,000
300,000
500,000
-
450,000
258,000
100,000
25,000
200,000
25,000
50,000
100,000
1,000
5,000
-
50,000
100,000
7,000
50,000
200,000
50,000
-
12,500
5,000
300,650
100,000
100,000
-| |||7,709,673| 11 **THE THOMPSON FAMILY CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2025 (CONTINUED)** |**4 SUPPORT AND GOVERNANCE COSTS**
Support costs
Governance costs - audit fee|**2025**
£
68
11,450
11,518|2024
£| |---|---|---| |||590
11,000| |||11,590| No payment of remuneration or expenses has been made to any of the Trustees (2024: £nil) and the Charity has no employees (2024: nil). There were no related party transactions in the year or the prior year. |**5 FIXED ASSET INVESTMENTS**
Market value at 1st February 2024
Additions at cost
Disposal proceeds
Gains / (losses) in the year
**Market value at 31st January 2025**
Historical cost at 1st February 2024
**Historical cost at 31st January 2025**|Freehold
properties
£
400,000
-
-
-
400,000
1,454,662
1,454,662|Quoted
fixed income
£
71,813,412
4,148,544
(4,575,000)
1,934,236
73,321,192
79,827,586
79,507,459|Quoted
Equities
£
3,071,314
41,383
-
188,428
3,301,125
3,281,542
3,322,925|Total
investments
£| |---|---|---|---|---| |||||75,284,726
4,189,927
(4,575,000)
2,122,664| |||||77,022,317| |||||84,563,790
84,285,046| All investments are in the UK, and the valuation of the properties has been carried out by the Trustees after taking advice from a Chartered Surveyor (Andrew Oliver BSc MRICS) whose last formal valuation was as at 31 January 2020. At 31st January 2025, the following investments represented more than 5% of total investments: |Aviva 8.375% Preference Shares
Aviva 8.75% Preference Shares
Barclays 8.5% Bonds
Lloyds Banking Group 9.25% Preference Shares
Nationwide 10.25% CCDS
Natwest 9% Preference Shares|£| |---|---| ||7,779,063
7,694,203
4,197,280
14,566,436
21,993,713
4,612,030| The main form 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 strategies accordingly. |**6 DEBTORS FALLING DUE WITHIN ONE YEAR**
Accrued income
Balance due from stockbrokers
Property-related receivables|**2025**
£
268,041
7,111
-
275,152|2024
£| |---|---|---| |||258,283
3,563
-| |||261,846| 12 **THE THOMPSON FAMILY CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2025 (CONTINUED)** |**7 CREDITORS FALLING DUE WITHIN**
**ONE YEAR**
Rents and other property income received in advance
Donations pledged but not yet paid at year end
Accruals
VAT payable|**2025**
£
16,209
12,500,000
7,000
210
12,523,419|2024
£| |---|---|---| |||16,209
12,995,000
7,000
1,400| |||13,019,609| There are no capital or other commitments at 31st January 2025 (2024: £nil). |**8 FUNDS**
Unrestricted funds brought forward
Net increase / (decrease) for the year
Unrestricted funds carried forward|**2025**
£
81,973,027
(20,253)
81,952,774|2024
£| |---|---|---| |||85,042,939
(3,069,912)| |||81,973,027| All funds are unrestricted, and may be distributed in any way which is consistent with the charitable objects of the Trust. The Trustees, however, anticipate that up to approximately £50 million of the funds may be utilised on the future capital projects referred to in the Report of the Trustees. |**9 FINANCIAL INSTRUMENTS**
**Financial assets at fair value**
Quoted investments
**Financial assets that are debt instruments**
**measured at amortised cost**
Accrued income receivable
Balance due from stockbroker
Other receivables
**Financial liabilities**
**measured at amortised cost**
Donations pledged but not yet paid at year end
Other creditors|**2025**
£
76,622,317
268,041
7,111
-
275,152
12,500,000
7,000
12,507,000|2024
£| |---|---|---| |||74,884,726
258,283
3,563
-| |||261,846
12,995,000
7,000| |||13,002,000| 13 **THE THOMPSON FAMILY CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## **10 OPERATING LEASE INCOME** The future minimum lease payments due to be received under non-cancellable operating leases are as follows: |Receivable within one year
Receivable later than one year and not later than five years
Receivable in five years or more|**2025**
£
50,000
75,000
-
125,000|2024
£| |---|---|---| |||50,000
125,000
-| |||175,000| 14