Docusign Envelop8 ID.. 5B95398F-9A4948F6-9114-DOEEBD94A869 Charity registration number 328394 {England and Wales) THE THOMAS FARR CHARITY ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
Docusign Envelopo ID.. 5B95398F-9A4948F6-9114-DOEEBD94A869 THE THOMAS FARR CHARITY CONTENTS Page Legal and administrative infomiation Trustees, report Statement of Trustees, responsibilities Independent auditorfs report Staternent of financial activities Statement of financial position 10 Statement of cash flows 11 Notes to the accounts 12-20 Schedule of investments and income
Docusign Envelopo ID.. 5B95398F-9A4948F6-9114-DOEEBD94A869 THE THOMAS FARR CHARITY LEGAL AND ADMINISTRATIVE INFORMATION Truslees Mr Henry Farr Mrs Amanda Farr Rathbones Trust Company Limited Mr Philip Pruden Charity number 328394 Registered office l address for appeals Nottinghamshire Community Foundation Ash House, Ransom Wood Business Park Southwell Road West Mansfie NG21 OHJ Auditor Perrys Audit Limited Churchdown Chambers Bordyke Tonbridge Kent TN91NR Bankers National Westminster Bank plc 134 Front street Arnold Nottingham NG5 7BF Legal advisors Penningtons Manches Cooper LLP 125 Wood Street London EC2V 7AW Investment managers Rathbones Investment Management Limited 30 Gresham Street London EC2V 7QN
Docusign Envelopo ID.. 5B95398F-9A4948F6-9114-DOEEBD94A869 THE THOMAS FARR CHARITY LEGAL AND ADMINISTRATIVE INFORMATION The Trustees presenl their annual report and financial statements for the year ended 5 April 2024. The accounts have been prepared in accordance with the accounting policies sel out in note 1 of the accounts and comply with the Charities Act 2011 and AccoLJnting and Reporting by Charities.. Statement of Recornmended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Star)dard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 20151. Objectives and activities The Thomas Farr Charitable Trust was created by Deed dated 17 October 1989. The Trustees shall hold the capital and the income of the Trust Fund upon trust to apply income and. as far as may be necessary, the capital for or towards such charitable purposes and to make donations to such charitable bodies or institutions at such times and in such manner as the Trustees may, in their absolute discretion, think fit. We confirm that there have been no changes in the charity's objectives during the year. Charitable aims The charity aims lo continue to suppori charitable bodies and institutions for the longer term future - they look to invest the charity's funds wisely to ensure sufficient income is generated to support these aims. The charity's focus is on public benefit in the Nottinghamshire area across various sectors such as community projects, children and youth projects, homelessness, disability, elderly and others. Public benefit The Trustees have complied with the duty in section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charilies Commission. The Trustees support a number of charitable organisations. as shown within note 6 to the financial statements. The Trustees believe all the donations made are for the benefit of the public. Grant-making policies Currently the Trustees, policy is to accumulate all written appeals received and to consider them on their individual merits at each Trustee meeting. Only successful applicants are notified of the Trustees, decision. During the year under review. the Trustees resolved to make a number of donations, as detailed in note 16 of these accounts. All donations are made without any implication or commitment to future donations. Risk management The charity trustees have considered the major risks to which the charity is exposed and have reviewed those risks and established systems and procedures to manage those risks. The trustees consider variability of investment returns to constitute the charity's major risk. This is mitigated by retaining expert investment managers and having a diversified investment portfolio. Ruth Warren of Nottinghamshire Community Foundation was delegated day to day management of the Gharity throughout Ihe year. Financial review Total incoming resources were £279,703 (£344,451 in 2023), with £328.739 (£322,038 in 2023) being committed to charitable donations and £28,768 (£27,631 in 20231 relating to costs of generating funds and £15,146 {£16,032 in 20231 relating to governance Gosts, resulting in net outgoing resources of £83,450 (outgoing £21,250 in 20231 The total movement of resources in the year also includes the realised gain in the year £154,410 (loss of £55,176 in 20231 and an unrealised gain based upon the market value of the investments at the year end of £782.678 {gain of £530,503 in 2023). The overall movement of resources in the year showed an increase of £544,818 {decrease of £606,929 in 20231
Docusign Envelopo ID.. 5B95398F-9A4948F6-9114-DOEEBD94A869 THE THOMAS FARR CHARITY LEGAL AND ADMINISTRATIVE INFORMATION Reserves The Trustees consider their investments as part of an unrestricted fund, providing a relatively secure and predictable stream of income from which to make grants. The Trustees aim to distribute a large percentage of the income, net of expenses, in each financial year and therefore do nol maintain income reserves as such. however, income levels are continually reviewed by the Trustees at the annual meelings to ensure that they have sufficient funds to meet with their objectives. Investment performance and policy The investment objective for the charity is to provide an income yield of 20/0. predominately in sterling, as well as real capital growth, in line with the agreed bespoke benchmark of 60 % FTSE 100, 300/0 FTSE All World Ex UK and 10'/o cash, as delermined by Rathbones, terms of business, in line with risk strategy 5. The current yield is 2.74%. Over the last 12 months, financial markets have benefitled from the rate of inflation slowing globally and in tum investors, expectations of interest rate cuts in 2024. Thus, over the last year, the total return of the fund net of fees rose by 10.16010. The personal benchmark gained by 11.36 %. The FTSE 100 rose by 7.410/0 and the FTSE All Worfd Ex UK gained 21.71°/o. The ARC Sterling Steady Growth, which is a peer comparator index rose 9.130/0. The fund's bias to income generating assets has been a headwind as growih assets have started to regain momenlum. Trustees agreed wilh the investment managers to reduce the yield closer to 2 % and increase exposure to growth assets which will benefit as inflation and therefore interest rates start to reduce. 2023 ended on a more upbeat tone following what was a fairy tumultuous year with many conflicting economic forces at play. At the start of the year markets were buoyed by the anticipated reopening of the Chinese economy after a very draconian and prolonged pandemic lockdown but this failed to materialise and Ihe lack of consumer confidence, in part reflecting the collapse of the Chinese real eslate sector, resulted in the introduction ()f a number of stimulus packages from the People's Bank of China and other government led initiatives. The mini banking crisis in March du& lo the failure of Silicon Valley Bank in Ihe US led lo a sell-off in markets al thè end of the period. Much of Ihe rest of the period was dominated by the slow pace of falling inflation as economies stabilised post-pandemiG and reacted lo one of the fastest and largest ever rises in interest rates. The US particularly enjoyed a rapid fall in inflationary pressures and markets rallied on an anticipated 'pivot' in interest rates. Ajso, returns over the period have been unusually concentrated, dominated by the returns of the 'Magnificent 7, stocks in the US, disguising the true health of the US economy. Looking ahead in 2024, the situation in Ukraine is still far from resolved and accordingly the need for stable and effective political leadership is needèd now more than ever. This is sobering as we start an election year with over half the world's population set to vote including both here and in the USA. However, the investment managers are hopeful that as interest rates start to fall and inflation relums to more normal levels market returns continue to broaden out, which has taken place in the first quarter of 2024. As at 5th April 2024, the portfolio holds 10/0 in cash, 90/0 invested in fixed income, 840/0 in equity markets, with the balance of 60/D invested in a mix of gold, tolal return strategy and infrastructure fund, offering 70/. dividend yield. Within equities, 37 % is in the UK and 45 /0 is in international markets. This continues to be diversified across a mix of geographies and over the year we reduced exposure to UK whilst increasing exposure to North America and Japan which is now 230/0 and 50/0, respectively. We reduced exposure to diversifiers and added to fixed income taking advantage of the attractive yields to malurity on offer. We continue to have 14 /0 in global funds diversified across income generating funds and thematic funds such as technology and healthcare. Current dividends are forecast to be some £259,492 per annum, which is a yield of 2.74 %. Although the current yield is higher than the target, the investment manager is looking at opportunities to generate capital growth over time and reduce this to 2 %. Of the investments held none exceed 10 % of the total portfolio value. Trustees have agreed with the investment managers that wilh effect from 319t March 2024 the benchmark for thg Charity will be 400/0 FTSE 100, 450/0 FTSE All World Ex UK and 15 % cash. Risks The Trustees have not identified any major risks other than stock market fluctuations and they will continue to monitor the adequacy of their system.
Docusign Envelopo ID.. 5B95398F-9A4948F6-9114-DOEEBD94A869 THE THOMAS FARR CHARITY LEGAL AND ADMINISTRATIVE INFORMATION Structure, governance and management The Trustees who served during the year were". Mr Henry Farr Mrs Amanda Farr Rathbones Trust Company Limited Mr Philip Pruden The Charity's other advisors are noted on page 1. The individuals who were directors of Rathbones Trust Company Limited were- Miss Linda Joyce Cousins Mr Trevor Harris Mr James Stephen Hurrell Mr Bruce Robert Newbigging Mr Alexander Richmond Mrs Kerry Roberts Mr Robert Paul Stocklon Organisation and decision-making structure The Trustees review applications for funding, investment performance, income velS and the financial statements. No fund raising is Ljndertaken to support the work of the charity, but it has the right to accept donations. Training of Trustees There are no formal polices or procedures adopted for the induction or training of Trustees, however. Rathbones Trust Company Limited and the professional trust administrator keep abreast of changes in legislation and pass this information on lo the other Trustees. Recrultment of new or addltlonal Trustees The present Trustees have the power of appointing new or additional Trustees. Approved by the Trustees and signed on their behalf.. Docusigned by.. 45AECEA56A124A8.................................. Trevor Harris Rathbones Trust Company Limited Trustee Dated.. 30 january..2025 | 10:36 AM GMT
Docusign Envelopo ID.. 5B95398F-9A4948F6-9114-DOEEBD94A869 THE THOMAS FARR CHARITY STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 5 APRIL 2024 The Trustees are responsible for preparing the Trustees, Report and the financial statements in accordan with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Praclice). The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year whiGh give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources of the Charity for thal year. In preparing these financial statements, the Trustees are required to: select suitable accounting policies and then appty them consistenlly- observe the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and prudent: slate whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements- and prepare the financial statements on the going concern basis unless it is inappropriate to presume thal the charity will continue in operation. The Trustees are responsible for keeping sufficient accounting reGords that disclose with reasonable accuraGy at any tiTne the financial position of the Charity and enable them to ensure that the financial statements coThply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the twst deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Docusign Envelopo ID.. 5B95398F-9A4948F6-9114-DOEEBD94A869 THE THOMAS FARR CHARITY INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE THOMAS FARR CHARITY Opinion We have audited the financial statements of The Thomas Farr Charity (the 'Charity') for the year ended 5 April 2024 which comprise the statement of financial activities, the statement of financial position, the statement of cash flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The FinanGial Reporting Standard appliGable 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 5 April 2024 and of its incoming reSoUrS and appliGation of resources, for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting practi., and have been prepared in accordance with the Charities Act 2011. Basis for opinion We conducted our audit in accordan wilh International Standards on Auditing (UK) {ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditoffs SponSibl11t1eS 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 audil 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 concem 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 ability lo continue as a going concern for 2 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 infomation 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 ststements or our knowledge obtained in the course of the audit, or othenNise 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 malerial 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 repori Ihat fact. We have nothing to report in this regard.
Docusign Envelopo ID.. 5B95398F-9A4948F6-9114-DOEEBD94A869 THE THOMAS FARR CHARITY INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF THE THOMAS FARR CHARITY Matters on which we are required to report by exception In the light of the knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors, report included within the Trustees, report. We have nothing to report in respect of the following malters in relation to which the Charities (Acwunts and Reports) Regulations 2008 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 Trustees, report., or sufficient accounling records have not been kept,. or the financial slatements are not in agreement with the accounting records- or we have not received all the information and explanalions we require for our audit. Responsibilities of Trustees As explained more fully in the statement of Trustees, responsibilities, the Trustees are responsible for the preparation of the financial ststements and for being satisfied that they give a Irue and fair view, and for such internal control as Ihe Trustees determine is necessary to enable the preparation of financial slalements 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 concem, disdosing, as applicable. matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to cease operations, or have no realistic allemalive but to do so. Auditor's responsibilities for the audit of the financial statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole ar& free from material misstatemenl, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assuranGe is a high level of assurance but is not a guarantee that an audit Gonducted in aGcordance 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 Ihe aggregate, they could reasonably be expected to influence the eGonomiG decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: We gained an underslanding of the legal and regulatory framework applicable to the entity and the industry in which it operates and considered the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulling from error, as fraud may invdve deliberate concealment by, for example, forgery or intentional misrepresentations, or throLJgh collusion. We focussed on laws and regulakn'ons which could give rise to a material misstatement in the financial statements. Our tests included agreeing the disclosures in the financial stalements to the underlying supporting docLJmentation and enquiries with management. We did not identify any key audit matters relating to irregularities, including fraud. As in all our audits, we also addressed the risk of management override of internal controls. including testing journals and evaluation whether there was evidence of bias by the trustees that represented a risk of misstalement due to fraLJd.
Docusign Envelopo ID.. 5B95398F-9A4948F6-9114-DOEEBD94A869 THE THOMAS FARR CHARITY INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF THE THOMAS FARR CHARITY A further description of our responsibilities is available on the Financial Reporting Council's website at.. https'.11 www.frc.org.uklauditorsresponsibilities. This description forms part of our audito¢s report. Use of our report This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are reqUId to state to them in an auditor's port 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. Signed by.. 8422A0811eAAD-......................................... Dated.. 31 january 2025 | 8:38 AM GMT Stephen Hale FCA FCCA (Senior Statutory Auditor) for and on behalf of Perrys Audit Limited Chartered Accountants Churchdown Chambers Bordyke Tonbridge Kent TN9 1NR
Docusign Envelopo ID.. 5B95398F-9A4948F6-9114-DOEEBD94A869 THE THOMAS FARR CHARITY STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 5 APRIL 2024 2024 2023 Notes Income Income arising from investments Other income 274,040 5,663 341,549 2,902 Total Income 279,703 344,451 Expenditure Charitable activities 372,653 365,701 Net deficit before investment gainsl(lossesl (92,950) (21,250) Net gainsllloss) on investments 12 628,268 1585,679) Net movement in funds 535,318 1606,929) Fund balances at 6 April 2023 8,977,760 9.584,689 Fund balances at 5 April 2024 9,513,078 8.977,760 The statement of financial activities includes all gains and losses recognised in the year. The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from conlinuing activities.
Docusign Envelopo ID.. 5B95398F-9A4948F6-9114-DOEEBD94A869 THE THOMAS FARR CHARITY STATEMENT OF FINANCIAL POSITION ASAT 5 APRIL 2024 2024 2023 Notes Fixed assets Investments 13 9,256,080 8,894,225 Current assets Debtors Cash at bank and in hand 14 861,734 43,296 98,539 905,030 98,539 Creditors: amounts falling due within one year 15 1648,032) (15,004} Net current assets 256,998 83,535 Total assets less current Ilabllltles 9,513,078 8,977,760 Income funds Unrestricted funds 9,513,078 8,977,760 9.513,078 8,977.760 The accounts were approved by the Trustees on 30 January 2025 | 10:36 AM GMT Docuslgned by.. 5A5e&A66A.144A8:......................................... Trevor Harris Rathbones Trust Company Limited Trustee 10-
Docusign Envelopo ID.. 5B95398F-9A4948F6-9114-DOEEBD94A869 THE THOMAS FARR CHARITY STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 5 APRIL 2024 2024 2023 Notes Cash flows from operating activities Cash absorbed by operations 18 (371,755) (359,563) Investlng actlvitles Proceeds on disposal of investments Purchase of Investments Dividends and interest received from investments 2,840.160 (3,018.0311 279.703 1,066,358 (1,032,638} 341,549 Net cash generated from investing activities 101,832 375,269 Net {de¢reasellin¢rease in cash and cash equivalents {269,923) 15,706 Cash and cash equivalents at beginning of year 366.881 351,175 Cash and cash equivalents at end of year 96.958 366,881 11
Docusign Envelopo ID.. 5B95398F-9A4948F6-9114-DOEEBD94A869 THE THOMAS FARR CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 Accounting policies Charity information The Thomas Farr Charity is an unincorporated charily. 1.1 Accountlng conventlon These accounts have been prepared in accordance with FRS 102 "The Financial Reporting Standard apFlicable in the UK and Republic of Ireland" I'FRS 102"}, "Accounting and Reporting by Charities" the Statement of Recommended Practice for charities applying FRS 102 and the Charities Act 2011. The Charity is a Public Benefit Entity as defined by FRS 102. Assets and liabilities are initially recognised as historical cost or transaction value unless otherwise slated in the relevant policy note. 1.2 Going concern The trustees consider there are no material uncertainties about the Charity's ability to continue as a going concern. The review of our financial position, reserves levels and future plans gives Trustees confidence the charity remains a going concern for the foreseeable future. 1.3 Charitable funds Grants are included in the financial statements when approved by the Trustees and notified to recipients. The value of committed grants unpaid at the year end is accrued. Grants offered that are subject to conditions that have not been mel at the year end are noted as a commilmenl but not accrued as expenditure. 1.4 Incoming resources Investment income is aGGounted for on an accruals basis in the period to which it relates. 1.5 Debtors Debtors are receivable at their expected settlement amount. 1.6 Cash and cash equivalenls Cash at bank and cash in hand includes Gash and short term highly liquid investments with a short tnalurity of three months or less from the date of acquisition or opening of the deposit or similar account. 1.7 Creditors Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of fvjnds to a third paty and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any discounts due. 1.8 Resources expended Management and administration costs corllprise those costs incurred in running the charity. They have been apportioned on the basis of time spent between charitable activities. cost of raising funds and governance costs. Governance costs consist of those costs associated with the overall running of the charity and meeting siatulory and regulatory requirements. 12-
Docusign Envelopo ID.. 5B95398F-9A4948F6-9114-DOEEBD94A869 THE THOMAS FARR CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Accounting policies (Continued) 1.9 Financial instruments Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in net incomel(expenditurel, except that investments in equity instruments that are not publidy traded and whose fair values cannot be measured reliably are measured at cost less impairment. The Trust does not acquire put options, derivatives or other complex financial instruments. 1.10 Investments Fixed assets investments represent listed investments which are stated at market valuation, where market value represents the mid market value on the last trading day before the year end. Any unrealised or realised gains arising from investments are accounted for in the Ststement of Financial Activities. Critical accounting estimates and judgements In the application of the Charity's accounting policies, Ihe Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other SoUrs. The estimates and associated assumptions are based on historical experience and other factors that ar8 considered to bè rèlevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Income arising from investments 2024 2023 Income from listed investments Fixed interest Foreign income REITS Accrued interest 161,210 36,596 77,837 6,450 (8,053) 226,542 8,348 100,697 5,962 274,040 341.549 Other income 2024 2023 Bank interest 5,663 2,902 13-
Docusign Envelopo ID.. 5B95398F-9A4948F6-9114-DOEEBD94A869 THE THOMAS FARR CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Charitable aclivities 2024 2023 Grant funding of activities (see note 6) 328,739 322,038 Share of support costs (see note 9) Share of governance costs (see note 9) 28,768 15,146 27.631 16.032 372,653 365,701 Grants payable 2024 2023 Children Community Projects Disability Drug Projects Education Elderly Homeless HospitalslHealth MuseUmSheatrelGardenS Religion Sport Youth Organisations 62,974 81,855 31,185 3,000 13,758 39,720 26,000 51,616 125,545 29,255 5.000 14.700 21.132 39,200 12,750 2,000 5,000 18,225 5,000 2,000 45,022 15,840 328,739 322,038 Net movement in funds 2024 2023 The net movèment in funds is stated after chargingl(creditingl: Fees payable for the audil of the charity's financial statemenls 4,800 4,892 Trustees During the year Rathbones Trust Company Limited charged £600 (£360 in 2023), the amount outstsnding at the year end was £600 (£360 in 2023). 14-
Docusign Envelopo ID.. 5B95398F-9A4948F6-9114-DOEEBD94A869 THE THOMAS FARR CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Support costs Support Governance ost5 osts 2024 2023 Basis of allocation Investment management fees Trustee fees Professional fees Bank charges Office expenses Office rent 28,768 28.768 600 9.500 20 226 27,631 360 Governance 9,500 Governance 40 Governance 240 Governance 1,000 Governance 600 9,500 20 226 Audit fees 4,800 4,800 4,892 Governance 28,768 15,146 43,914 43,663 10 Employees There were no employees during the year, or the previous year. 11 Taxation The charity is exempt from tax on income and gains falling within section 532 of the Income Taxes Acl 2007 and section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. 12 Net gainsl(losses) on investments 2024 2023 Unrealised (loss}Igain {Loss)Iprofit on sale of investments 782,678 1154,410> (530,5031 {55,1761 628,268 {585,6791 15-
Docusign Envelopo ID.. 5B95398F-9A4948F6-9114-DOEEBD94A869 THE THOMAS FARR CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 13 Fixed asset investments Listed investments Cash in portfolio Total Cost or valuation At 5 April 2023 Additions Unrealised gain Realised loss Cash invested Disposals 8,625,883 3,932,392 782,678 {154,407) 268,342 8,894,225 3,932,392 782,678 (154,4071 (214,6801 {3,984,1281 1214,6801 (3,984,128) At 5 April 2024 9,202,418 53,662 9,256,080 2024 2023 Listed investments Cash in investment portfolio 9,202,418 53,662 8,625,883 268,342 9,256,080 8,894,225 Historic cosl of investm&nls 7,493,773 7,349,279 14 Debtors 2024 2023 Amounts falling due within one year: Other debtors 861,734 15 Creditors falling due within one year 2024 2023 other creditors Accruals and deferred income 632,130 15,902 15,004 648,032 15,004 16-
Docusign Envelopo ID.. 5B95398F-9A4948F6-9114-DOEEBD94A869 THE THOMAS FARR CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 16 Unrestricted funds The Ljnrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as lo how they may be used. These include designated funds which have been sel aside out of unrestricted funds by Ihe trustees for specific purposes. At 6 April 2023 Incoming resources Resources expended Gains and losses At 5 April 2024 General funds 8.977,760 279,703 1372,653) 628,268 9,513.078 Previous year: At 6 April 2022 Incoming resources Resources expended Gains and losses At 5 April 2023 General funds 9,584,689 344,451 (365,701) (585,679) 8,977,760 17 Related party transactions Rathbones Investment Managemenl (RIM) and Rathbones Trust Company (RTC) are both wholly owned subsidiaries of Rathbones Group Plc. The investment management is undertaken by RIM at their standard terms as offered to other charities, RTC are not obliged to appoint or retain RIM as investment managers but do so on the basis that the terms and performance have been satisfactory when compared to alternative providers of investment management. The matter is monitored and kept under review to ensure Ihal the charity receives appropriate and cost effective investment management services. The following amounts were paid during the year to RIM and RTC.. Rathbones Investment Management Ltd - £28,76812023- £27,631) Rathbones Trust Company Ltd - £600 (2023 - £3601 Nottingham Community Foundation (NCF) provide key administration role for the charity- £10.000 {2023 £10,000) was paid to NCF as a donation and £9,500 (2023- £9,500) in administration fees during the year. 18 Cash generated from operations 2024 2023 Surplusl(deficit) for the year 535,318 {606,9291 Adjustrnents for= Investment income recognised in statement of financial activilies Loss on disposal of investments Fair value gains and losses on investments (279,703) 154,410 (782,678) {341,5491 55,176 530,503 Movements in working capital.. Increase in creditors 898 3,236 Cash absorbed by operations (371,755) {359.5631 17
Docusign Envelopo ID.. 5B95398F-9A4948F6-9114-DOEEBD94A869 THE THOMAS FARR CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 19 Donations rnade during the year 2024 2nd Beeston Sea Scouts Ashfield Spartans BA- was Mansfield All Stars Amateur Boxing Club Age UK Nottingham & Nottinghamshire AJ SportAcademy CIC Allsorts Preschool Iundemoodl Always Community Beatbots - School of Movers CIC Beeston Dementia Friends {Beeston Memory Cafe} Belvoir Cricket & Countryside Trust Bestwood and Bulwell Foodbank Blidworth On The Move Support Network Bluetonic Brighter Futures Through Sport British Disabled Angling Association Broxtowe Community Projects CIO Broxtowe Womens Project Children's Bereavement Centre Citizens Advice Central Nottinghamshire Clipstone Miners Welfare Community Trust Community Safety Education CIC Counselling And Support For Young People Criminon UK Disability Support Dunkirk and Old Lenton CommunityAssociation Emmanuel House Support Centre Equation Footprints Conductive Education Centre (CEC) Ltd Freedom Foundation CIC Good Companions Green's Windmill Trust (The) Greyfriars CIC Social Club Groundwork Greater Nottingham Growing Forward CIC Happy Days Children's Charity Harmless Hettys Himmah Hope Church. Nottingham Hope Hut Hope Springs Horticulture IMARA CIO Jericho Road Projecl Jigsaw Youth Club Just Good Friends Club Literacy Volunteers 1,000 2,000 2,000 2,000 4,845 2.000 2.000 2.000 1,333 3,037 3,000 2,000 4,250 1,000 4.000 2,500 3,000 5,000 3,000 1,000 2,860 1,858 2,000 3,000 5.000 2.725 2.000 3,000 3,720 4,000 4,098 3,000 2,000 2,550 5,000 3,000 3.220 2.000 2,000 3.000 3,000 3,000 3,000 1,185 4,000 125,180 18-
Docusign Envelopo ID.. 5B95398F-9A4948F6-9114-DOEEBD94A869 THE THOMAS FARR CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 19 Donations made during the year (Continued) Brought fomard 125,180 MHA Communities East Nottinghamshire (was Southwell & District Live at Home Sche Music for Everyone Newark Emmaus Trust Nottingham And Nottinghamshire Refugee Forum Nottingham Arts Theatre Ltd Nottingham Music Service Nottinghamshire Historic Churches Trust (NHCT) Nottinghamshire Hospice Nottinghamshire Mind Nottinghamshire Royal Society for the Blind ITA My Sight Nottinghamshire) Notts Guided Walks Partnership (The Ramblers AssociationlNotts Area Ramblers) NSPCC Nottingham Oak Field Old Student Association CIO Open Homes Nottingham Open Minds PASIC - Cancer suppori for children and young people Pat Samba Fitness Phab Nottingham Pintsize Theatre Ltd Place2Be Positively Empowered Kids CIC Primary Wellbeing C.l.C. Pulp Friction Smoothie Bar CIC Refugee Roots René House CIC Riding for Smiles Rumbles Catering Project Limited Send Project Limited Sharewear Clothing Scheme SHE UK (Supporting., Healing., Educating) STAA CIO Support Through Court (formerly the Personal Support Unit} Support Through Sport Youth CIC Sutton Youth Radio Ltd Switch Up CIC Sycamore Dining CIC 5.000 3.500 2,000 4,000 3,000 2,000 5,000 5,000 5,000 4,000 1,000 10,000 3,500 5,000 1,250 2,423 3,000 3,000 3.000 5.000 3.000 4,824 5,000 3,000 3,000 2,500 4,900 4,000 2,000 2,500 5,000 2,000 4,988 3.974 5,000 3,000 259,539 19-
Docusign Envelopo ID.. 5B95398F-9A4948F6-9114-DOEEBD94A869 THE THOMAS FARR CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 19 Donations made during the year (Continued) Brought fomard 259,539 The Beacon Project The Friary Drop In Ltd The Greenway Centre The Helpful Bureau The Inspire and Achieve Foundation The Lenton Centre The Social Action Hub The Tin Hat Centre The Wolfpack Project Trent Bridge Communily Sports Trust Trent Compassion Trust (Vineyard Arches Trust) Unanima Thealre Wainman Trust Zephyr's Nottinhamshire Community Donation 3.000 5.000 5,000 3,000 4,000 3,000 5,000 5,000 4,950 5,000 3,000 5,250 5,000 3,000 10,000 328,739 20 Cash and cash equivalents 2024 2023 Cash at bank and in hand Cash invested 43,296 53,662 98,539 268,342 96,958 366.881 -20-
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Docusign Envelopo ID.. 5B95398F-9A4948F6-9114-DOEEBD94A869 Qdocusign Certificate Of Completion Envelope Id." 133B5770-EC1 C442D-8347-809C66FA981A Subject.. Accounts v7 29.01.25 Source Envelope.. Document Pages.. 35 Certificate Pages.. 1 AuloNav= EnatAed Envelopeld Stamping., Enabled Time Zone.. IUTCI Dublin, Edinburgh, LisbDn, London Status". Com eted Signatures.. 2 Initials.. O Envelope Originator.. Darcie O'connor 30 Gresham Street London, Europe EC2V 7QN Darcie.OConnor@rathbones.com IP Address= 82.163.188.41 Record Tracking Status.. Original 29 January 2025 | 16'.39 Holder.. Darcie O'connor Darcie.OConnor@rathbones.com Locab'on= Docusign Signer Events Trevor Harris Trevor.HarTisRTC@ralhbones.com Director Signature Timestamp Sent.. 29 January 2025116.'45 Viewed.. 30 January 2025 | 10.'36 Signed". 30 January 2025110."36 DoruSwnvdby". 45PECÈAA1W. Security Level". Email. Account Authentication (None) Signature Adoption.. Pre-selected Style Using IP Address.. 87242.179.90 Electronic Record and Signature Disclosure.. Not Offered wa Docusign In Person Signer Events Signature Timestamp Editor Delivery Events Status Timestamp Agent Dellvery Events Status Tlmestamp Intemiediary Delivery Events Status Timestamp Certified Delivery Events Status Timestamp Carbon Copy Events Status Tlmestamp Witness Events Signature Timestamp Notary Events Signature Timestamp Envelope Summary Events Envelope Sent Certified Deliver8d Signing Complete Completed status Timestamps 29 January 2025 | 16'.45 30 January 2025 | 10..36 30 January 2025 | 10'.36 30 January 2025 | 10'.36 HashedEncrypled Se¢urity Che¢k&d Security Checked Security Checked Payment Events Status Tlmestamps
O docusign. Certificate Of Completion Envelope Id= 5B95398F-9A4948F6-9114-DOEEBD94A869 Subject.. Accounts v7 29.01.25 Source Envelope.. Document Pages.. 36 Certificate Pages.. 3 AutoNav'. Enabled Status.. Completed Signatures.. 1 Envelope Origin8tor'. Darue O'connor 30 Gresham Street Envelopeld Stamping.. Enabled Time Zone.. IUTCI Dublin, Edinburgh, Lisbon, London London, Europe EC2V 7QN Oarae.OConnor@rathbones.com IP Address.. 87.242.179.90 Record Tracking Ststus.. Original 30 January 2025 | 10'.43 Holder Darcie O'connor Darcie.OConnor@ralhbones.cotM Location.. Docusign Signer Events Steve Hale h8le@perry-¢omp8ny.co.uk Securily Level.. Email, Account Authentication INonel, Authentication Signature Timestamp Sent.. 30 January 2025 | 10=54 Viewed.. 31 J8nu8ry 2025 | 08..26 Signed.. 31 January 2025 | 08.'38 Signed by 56B422M)B1184AD.. Signature Adoption.. Drawn on Devi¢& Using IP Address.. 20.254.126.15 Authentl¢•tlon Detslls SMS Aulh.. Transaction.. 3eb147f1-bd074e92-ad14-cd71cff92c23 Result." passed Vendor ID.. Telesign Type.. SMSAuth Perforrned." 31 January 2025 | 08."26 Phone." *44 7909 690007 Electronic Record and Signature Disclosure: A¢cepled- 31 January 2025 | 08,26 ID.. eed1da5f-5b8f4256-afb5-12e95cf73414 In Person Signer Events Signature Timestamp Editor Delivery Events ststus Timestamp Agent Delivery Events Status Timestamp Intermediary Delivery Events ststus Timestsmp Certlfled Dellvery Events ststus Tlmestsmp Carbon Copy Events Status Timestamp Witness Events Signature Timestamp Notary Events Signature Timestamp Envelope Summary Events Envelope Sent Certified Delivered Status Timestamps 30 January 2025 | 10'.54 31 January 2025 | 08'.26 31 January 2025 | 08'.38 31 January 2025 | 08'.38 HashedlEncrypted Security Checked Security Checked Securty Checked Signing Complele Completed Payment Events Status Timestamps
Electronic Record and Signature Disclosure
Ele¢troni¢ Record and Signature Dis¢losure Created on.. 01 Decembor 2021 | 15.'25 Parties agreed to.. Steve Hale ELECTRONIC KLCOKD AND SIG.NATUKE DISCLOSURL (ERSD) Please read the infom]ation below carefully and thoroughly, and if you can access this infomiation electronically lo your satisfaction and agree lo Ihis Electronic Record and Signature Disclosure (F.RSD), please confirni your agyeemeni by selecliiig Ihe check-box next to '1 agree to usc clcctronic rccords and signatures, before clicking 'CONTINUF,' within Ihe Docusign system. Data you submit to Rathbones via Docusign and completed documents will be held within Rathbones, systems in line with UK and Jersey respective (applicable to Rathbone Investment Management International) Data Protection legislation and Rathbones corporate retention policy. Once signed, completed dociunents will be aLcessible for a limited period within DoLuSign, these reLords will be deleted after 120 days - should you wish to retain your signed doLuments for referenLe, it is possible for you to download them to Yol prefeed storage location, however as Lompleted doLuments may Lontain Personcilly Identifiable Infornyation (PII) you shoiild exerLise Laution when doing so. Thc minimum sy8tcm rcquircmcnts for llsing thc Docusign system may changc ovcr timc. Thc currcnt systcm rcquircmcnts arc found hcrc: htt 8://su ort.docu.8i n.coml llidcs181 ncr- idc- si nin stcni-re uireinent8. This communication is to be treated as confidential and the information in it may not be used or disclosed except for the purpose for which it has been issued. If you have received it by mistake please let us know, and delete it from your system. Rathbone Investment Management Limited is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial c.onduct Authority (FCA) and the Prudential Regulation Authority. FCA Reference number: 116316. Rathboncs Group PIC - Incorporated and rcgistered in England and Wales. Registcrcd Otrice: 8 Finsbury Circus, London EC2M 7AZ. Rcgistcrcd nunibcr: 01000403. Rathbone Tnvestment Management International - Rathbone Investment Management International Limited is not regulated by the Financial Conduct Authority or the Piudential RLgulation Authority in the UK, nor subject to the provisions of the UK Financial Services and Markets Act 2000. The Financial Services Act 2012 and the protections afforded by those Acts. Rathbone Investment Management International Limited is regulated by the Jersey Financial Services Cominission. For further information on Rathbones Group PIC and its subsidiaries refer to www.rathbones.com.