CHARITY REGISTRATION NUMBER: 327846 THORNE LODGE CHARITABLE TRUST uNAtlTED FINANCIAL STATEMENTS 5 APRIL 2024 COHEN ARNOLD Chartered Accountants New Burlington House 1075 Finchley Road LONDON NWI I OPU
THORNE LODGE CHARITABLE TRUST FINANCIAL STATEMENTS YEAR ENDED 5 APRIL 2024 PAGES Trustees, Annual Report Independent Examiner's Report to the Trustees Statement of Financial Activities Ito2 Statement of Financial Position Notes to the Financial Statements 6t012
THORNE LODGE CHARITABLE TRUST TRUSTEES, ANNUAL REPORT YEAR ENDED 5 APRIL 2024 The trustees present their report and (he unaudited financial statements ot the charily for the year ended 5 April 2024. REFERENCE AND ADMINISTRATIVE DETAILS Registered charity name Charity registration number Principal office Thorne Lodge Charitable Trust 327846 41 Norrice Lea Hampstead G(irden Suburb London N2 ORD THE TRUSTEES A Selby R D Selby P H Selby E H Isaacson Z R Brooks INDEPENDENT EXAMINER Dov HalS FCA STRUCTURE, GOVERNANCE AND MAIYAGEMENT The charitable trust was established by ihe Trus1 Deed dated ?6 May 1988 and is an unincorporated charity registered with the Charity Coinmission {Regisiration no. 327846). The day to day affairs of the charity are adTnini stered by the ti-ustees. The trustees were all appointed upon the formation of Ihe charity. Future trustees will be recruited, appointed and trained by the exislino Irustees as they deem reasonable in furtherino the chariiable trust's objeciives. The investment powers of the trustees are described in the Trust Deed. The Tn]st Deed allows the trustees to invest tiusl monies in any properly and investment. OBJECTIVES AND ACTIVITIES The charitable trust's objectives are to make donations to charitable causes as determined by the trustees. The In]stees confiTm their compliance with the duty to have due regaid to the public benefjl ouidance published by the Charity Commission whLn reviewing the Lhai-ity's aims and objectives and in plaJJnino future activities. ACHIEVEMENTS AND PERFORMANCE During the year the charity continued ils activitie.s and maint4liT)cd its suppoit of charitable institulions and ag(Fie(Jate donations were paid in the sum of £136,?70 (2023= £121.823). The Iruslees (ire satTsfied that donaiions made durino the year and subsequently have achieved the chariiable trust's objectives. The financial resulis of the charity for the year ended 5 April ?024 are tully IEflected in the attached financial staiement tooeiher with the notes Iliereon.
THORNE LODGE CHARITABLE TRUST TRUSTEES, ANNUAL REPORT I YEAR ENDED 5 APRIL 2024 FINANCIAL REVIEW Reserves policy It is the policy of the charity to mai ntain free reserves at a level which the Irustees think appropriate after considering the future commitmencs of the charity and Ihe li kely costs of the charity for the next year. The trustees hcive not undertaken any formal charitable commitrnenls and consider that the charity will geneiale sufficient Income fi-om it's investmentb and fi-om donations to fund its onooino activities. As at 5 April 2024 ihe chai-ity had £1.357,566 (2023: £1,375,527) of unrestricted funds. Investment policy Under the Trust Deed. the charily has the power to make investments which the trustees consider appropriate. The trustees seek inveslmcnls which, over a medium lerrn. are aT)licipated to gellerate a dependable flow of income coupled with capital growth. The trustees consider the return on investments, in terms of both income and capital growth. to be salisfactory. Grant making policy Grant5 are made to charitable insiitutions and organisations wliich accoi'd with the objects of the Charity. The Trustees are approached for donations by a wide variety of charitable in5titUCions principally operatino all over England. The Trustee5 consider all requests which Ihey receive and make donations based on the level of funds available. PRINCIPAL RISKS AND UNCERTAINTIES Risk management The trustees have identified and reviewed ihe major risk5 to which ihe charily is exposed, in particular those related to the operaiions and finance of the charity, and are saiisfied that systeins are in place to manaoe those risks. PLANS FOR FUTURE PERIODS The trustees plan to coniinue to make distributions in accordance with their (yi-ant rnakino policy and to ensllre that an appropriate level of reserves is maintained. The trustees, annual report was approved on 29 January 2025 and sioned on behalf of Ihe board of trustees by- A Selby Tru%lee R D Selby Tn]slee
THORNE LODGE CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THORNE LODGE CHARITABLE TRUST YEAR ENDED 5 APRIL 2024 I report to the trustees on my examination of the financial slatements of Thorne Lodoe Charitable Trust {'the charity,) for the year ended 5 April 20?4. RESPONSIBILITIES AND BASIS OF REPORT As the trustees of the charity you are responsible for the preparation of the fjnancial statements in accordance with the requirements ot the Charities Act 2011 ('the Act,). I report in respect of Jny examination of the charity's financial .8tatements carried out under gectIon 145 of the 201 l Act and in carrying out my examinalion I have followed all the applicable Directions givetj by the Ch<lTlty Commission under section 145{5)(b) of the Act. INDEPENDENT EXAMINER'S STATEMENT I have completed my examination. I confjmi that no m¢iterial matters have come to my attention in connection with the examinalion giving me cause to believe that In any maierial respect-. accounting records were not kept in respect of the charity as required by section 130 of the the financial statements do not accord with those records. or the financial statements do not comply with the 1( pplicable I'equirements concerning the form and content of accounts set out in Ihe Charities (Accounts and Reports) Regulations 2008 other than any requiremenl that the accounts give a 'true and fair, view which is not a matter considered as parl of an independent examillaiion. I have no concerns and have come across no other mailers in connection with the examination to which aitention should be drawn in ihis report in order io enable a proper undeTsiandino of the accounts to be reached. Dov Harris FCA Independeni Examiner Cohen Aimold Ch£irtered Accouniants New Burlintrton House 1075 FiT)chley Road LondoD NWII OPU 29 January 2025
THORNE LODGE CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 5 APRIL 2024 2024 Unrestricted funds Total funds Toial funds 2023 Nole Income and endowments Investment income 30,849 30,849 26,556 26,556 Total income 30,849 30,849 Expenditure Expenditure on raising funds- Investment management co.sts Expenditure on charitable activities Total expenditure (12,154) {12,154) {9,598) (139,979) (139,979) (126,204) (152.133) {152,133) (135,802) Net gains/(losses) on investments 103,323 J03,323 (90.7191 Net expenditure and net movement in funds {17,961) (17,961) (199,965) Reconcilfiation of funds Tocal funds brought forward Total funds carried forward 1,375,527 1?75,527 1?57,566 1575,492 1,357,566 1,375,527 The statement of financial activities includes all oains and losses recognised in the year. All income and expenditure derive from continuing aclivilie5. The notes on pages 6 to 12 form parl of these finanelol statcments.
THORNE LODGE CHARITABLE TRUST STATEMENT OF FINANCIAL POSITION 5 APRIL 2024 2024 2023 Note FIXED ASSETS Invebtments 13 1,348,585 1,360,311 CURRENT ASSETS Debtors Cash at bank and in hand 14 1,975 24,046 26,021 2.267 21,109 23,376 CREDITORS: amounts falling due within one year NET CURRENT ASSETS 15 (17,040) (8.160) 8981 15.216 TOTAL ASSETS LESS CURRENT LIABILITIES 1,357,566 1,357,566 1,375.527 1.375,527 NET ASSETS FUNDS OF THE CHARITY Unrestricted funds 1,357,566 1,357,566 1,375.527 Total charity funds 16 1,375,527 These financial statements were approved by the board of trustees and authoi-i5ed for issue on 29 January 2025. and are signed on behalf of the board by: Mrs R D Selby Trustee rity Re alio.n No. 327846 The nole5 on pages 6 lo 12 foT]]] P41rt of these linancial statenieiits.
THORNE LODGE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 5 APRIL 2024 GENERAL INFORMATION The chai-iiy is a public benefii entity and a reoisiered charily in Enoliind and Wales and is unincorporated. The address of the principal office is 41 Norrice Lea, Hampstead Garden Suburb. London, N2 ORD. STATEMENT OF COMPLIANCE These financial statements have been prePed in compliance with FRS 102. 'The Financial Reportin(F Standard applicable in the UK and the Republic of Ireland,. the Siatement of Recofftmended Practice applicable to charities preparinti their accounts IT) accordance with the Financial Reporting Standard applicable in the UK and Republic of Iieland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011. ACCOUNTING POLICIES Basis of preparation The financial statements have been prepared on the historical cost basis, rnodified to include listed and other investments at fair value. The financial statements are prepared in sterling. which is the functional currency of the charitable trust. The charitable trnst meets the definition of a public benefii entity under FRS 102. Going concern There are no material uncertainties about the charity's ability to continue. Judgements and key sources of estimation uncertainty The preparatlon of the financial statements requires manaoement to make judoements, estimates and assumptions that affect the amounts reported. These esiimaies and judgements are continually reviewed and are based on experience and oiher factors, includino expeclaiions of future evenls that are believed to be Teasonable under ihe circumstances. There were no significant judgements or estimates made in ihe preparation of these financiiil staiemenls. Taxation The charity is not liable to direct taxation on its income or (pains, whether realised or not. as it falls within the various exemptions liable to registered charities. Accordinoly, the charity does not [econISe any deferred tax liability on revaluation5 of investmenls a5 tjo lax would be due in the eveJ)t of a disposal as the charity would benefit frotn the relevant exemplions, as it will apply all funds for qualifyino charitable PUTposes. Fund accounting unre.stricted fuT)ds are available for use at the discretion of the trustees to further any of the charity s puiposes. Incoming resources All income is included in the statement of financial aclivilies when entiilemeT)I has passed io the charily, It is probable that the economic benefits associ ated with the transaciion will flow to the charity and the amount can be reliably me<isured.
THORNE LODGE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS( YEAR ENDED 5 APRIL 2024 ACCOUNTING POLICIES l¢ontiniied) Resources expended Expenditure is recoonised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the slatement of financial activities to which it relates: expenditure on raisin(y funds includes the costs of all fundra?sing activities, events, non- charicable trading activities. and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in underiakino activities that further its charitable a1rn5 foi the benefit of its benefici<iries. includjng those support costs and costs relating to the goveTnance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. AII costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared c051S are apportioned betweell the activities they contribute to on a reasonable, justifi able and consistent basis. Grants payable These are only recognised in the accounts when a commiiment has been made and there are no conditions to be met relating to the grant which remains in the control of the charity. Financial instruments A financial asset or a financial liability IS Tecognised only when the entity becomes a party to che contractual provisions of the instn]ment. Basic financial instruments are initially recoonised ac the amount receivabl e or payable including any related transaction costs. unless the arrangement constitutes a financino transaction, where it is recoonised at the present value of the future payments discounted at a markel rate of interest for <1 similar debt instrument. Current assets and current liabilities are subsequently measured at the casli OT Other consideratiOTJ expected to be paid or received aT)d not discounted. Debt instruments are Subsequently measured ai amortised cost. Where investments in shares or pieference shal-e5 are publicly trdded or their fail value can otherwise be measured reliably, the investment is subsequently measured ai fair value with chanoes in fair value recoonised in income and expenditure. All other such Jnveslments are subsequently measured at cost less impairment. For all equity instruments regaTdless of significance, these are assessed individually for impairment. Any reversals of impairment are recognised i mrnediaiely, to the exienl that the reversal does not resuli in a carryino amount of the financial assei Ihat exceeds what the carrying amount would liave been had che impaii-menl not previously been recognised.
THORNE LODGE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTSI ¢oIRÉrNiied} YEAR ENDED 5 APRIL 2024 INVESTMENT INCOME Uni-estricted Total Funds Unrestricted Total Funds Funds 2024 Funds ?023 Interest receivable Dividends receivable Other investment income 4,392 11.000 15,457 4J92 11.000 15,457 30,849 1,885 11.989 12,68? 1,885 11,989 12,682 30,849 26,556 26,556 INVESTMENT MANAGEMENT COSTS Unrestricted Total Funds Unieslricted Total Funds Funds 2024 Funds 2023 Portfolio management 12.154 12,154 9,598 9,598 EXPEIYDITURE ON CHARITABLE ACTIVITIES BY FUND TYPE Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Grants paid Support costs 136,270 3,709 136,270 3,709 139,979 121,823 4,381 121,823 4,381 139,979 126,204 126,204 EXPENDITURE ON CHARITABLE ACTIVITIES BY ACTIVITY TYPE Tol21 funds 2024 Grani funding of activities Support costs Total fund 2023 Granls paid Governance costs 136,270 136,270 3,709 139,979 121,823 4,381 3,709 3,709 136.270 126,204 ANALYSIS OF GRANTS 2024 2023 GRANTS TO INSTITUTIONS Support of education. advancevnent of health and ielief of povei-ly Total grant5 136,270 136,270 1?1,823 121,823
THORNE LODGE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (,,,, , ,,. YEAR ENDED 5 APRIL 2024 ANALYSIS OF GRANTS (continued) The composition of donations is shown below. British Emunah Fund Hasmone(in Hioh School Charitable Tn]st Kish£iroT) Lanodon Univeisity Jewish Chaplaincy Cavnp Simcha Ma(yen David Adom UK Community Security Trust Friends of Israel Sports Centre for the Disabled Laniado Hospital UK Noa Girls Unjted Jewish Isi-ael Appeal British Friends of Zaka Ner Yisrael Chai-Lifeline Cancer Care UK Friends of the Association for the Wellbeing of Israel's Soldiers Mylsrael Gi ve it Foi'ward Today Sundry donations 20,(K)O 12,575 8,000 7,180 5,500 5,000 5,000 5,000 5,000 5,000 4,100 3,818 3,750 3,430 3,250 3,000 28,667 136,270 NET GAINSI(LOSSES) ON INVESTMENTS Unrestricied Total Funds Uni-estricted Total Funds Funds 2024 Funds 2023 Gainsl(losses) on invesimenis Realised Gains/(losses) on disposal of investment assets 106,044 106,044 (76,909) (76,909) (2,721) 103,323 (2,721) 103,323 (13,810) (90,719) (13,810) (90,719) 10. INDEPENDENT EXAMINATION FEES 2024 ?023 Fees payable to the indepet]dent examiner for: Independent examination of ihe financial siatements 4,380 4,080 11. EMPLOYEE NUMBERS The averaue headcount of ernployees during the year was nil (2023= nil). 12. TRUSTEE REMUNERATION AND EXPENSES No remuneraiion 01- other benefits frotn employment with the charily or a i-elaied entily were received by the Ii'uslees. The chari iy did not meei any individual expense5 incurred by the trustees for services pi-ovided 10 the charily.
THORNE LODGE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS( YEAR ENDED 5 APRIL 2024 13. INVESTMENTS Listed investmenls Other investments Total Fair value At 6 April 2023 Additions Disposals Fair value movements 1,080,205 280.093 (371,369) 12?,793 280,106 1?60,311 280,093 (26,494) (397,863) (16.749) 106,044 236,863 lJ48,585 At 5 April 2024 Impairnient At 6 April 2023 and 5 April 2024 Carryirlg amount At 5 April 2024 At 5 April 2023 1,111,722 1,111,722 236,863 lJ48585 1,360,311 1,080,205 280,106 All investments showw] above are held at valuation. Financial assets held at fair value The invescments are held at fair value based on the available market data at the year end. Any movemenis in fair value are recognised in (he profit and loss. The historical cost of the investments is £1.184.468. 14. DEBTORS 2024 2023 Other debtOTS 1,975 2,267 15. CREDITORS: amounts falling due within one year 2024 2023 Accruals and deferred income Other creditors 4,080 12960 17,040 4,080 4,080 8,160 io-
THORNE LODGE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS( conTriiued) YEAR ENDED 5 APRIL 2024 16. ANALYSIS OF CHARITABLE FUNDS Unrestricted funds At 6 April 2023 Gains and At losses 5 April 2024 Income Expenditure General funds 1,375,527 30,849 (152,133) 103,323 1?57,566 At 6 April 2022 Gain5 and At losses 5 April 20?3 IncoJne Expenditure General funds 1,575,492 26.556 (135,802) {90,719) 1,375,527 17. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted Total Fund Funds 2024 Tangible fjxed assets Current assets Creditors less than l year Net assets 1,348,585 26,021 {17,040) 1348,585 26,021 (17,040) 1?57,566 1,357,566 Unreslricled Toial Funds Funds 2023 Tangible fixed assets Current assets Creditors les5 than l year Net assets 1,360,311 23,367 (8,160) 1,375,518 1,360,311 23,367 {8,160) 1,375,518 18. FINANCIAL INSTRUMENTS The carryino amount for each category of financial instrument is as follows.. 2024 ?0?3 Financial assets measured at fair value through income and expenditure Fincincial assets measured at fair value throuoh income and expenditure 1,348,585 ,360,311 Financial assets that are debt instruments vneasured at amortised cost Financial assets that are debt instruments measured at avnorti sed 1,975 2,267 Financial liabilities measured at amortised cost Financial liabi lities measured at amortised cosi 17,040 8,160 li
THORNE LODGE CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (Con1[e) YEAR ENDED 5 APRIL 2024 19. RELATED PARTY TRANSACTIONS Granrs paid include an amount of £20,000 paid to British Emunah Fund, a charily With a trustee n commmon with this charity. 12.