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← The TBF and KL Thompson Trust

2025-04-05-accounts

ids.C ) chartered accountants

Charity No. 105758

TBF AND KL THOMPSON TRUST

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED5 APRIL 2025

IDS Chartered Accountants LLP 23/25 Queen Street COLERAINE Co Londonderry BT52 1BG

TBF AND KL THOMPSON TRUST

ids.@ chartered accountants

CONTENTS

Page
Legal and administrative information 1
ee
Trustees report 2-4
Independent auditor's report 5-7
Statement of financial activities 8
Balance sheet 9
Statement of cash flows 10
Notestothefinancialstatements 11-22

TBF AND KL THOMPSON TRUST

ids.@ chartered accountants

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mrs ME Magowan
MrG Mcllroy
Mr G Scott
Mr JA Burns
MrJE Gough
Mr MA Bell
MrWM Gregg
Charity number 105758
Principal address 12 Killyvalley Road
GARVAGH
Co Londonderry
BT51 5JZ
Auditor IDS CharteredAccountants LLP
23/25 Queen Street
COLERAINE
Co Londonderry
BT52 1BG
Bankers Danske Bank
Donegall Square West
BELFAST
BT1 6JS
Solicitors Carson McDowell
Murray House
Murray Street
BELFAST
BT1 6DN
Macaulay Wray
35 New Row
COLERAINE
Co Londonderry
BT521AH

=| =

ids.() chartered accountants

TBF AND KL THOMPSON TRUST

TRUSTEES REPORT FOR THE YEAR ENDED 5 APRIL 2025

The Trustees present their annual report and financial statements for the year ended 5 April 2025.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charity's governing document, the Charities Act (Northern Ireland) 2008 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 Republic of Ireland (FRS 102) (effective 1 January 2015)”.

Purpose and Objectives

The TBF Thompson Trust and the Kathleen L Thompson Trust were constituted by Trust Deeds dated 12 December 1978, and were registered as charities. The TBF and KL Thompson Trust was subsequently established on 8 April 2005 with the same objectives as the original Trusts, namely “to pay or apply the income, and may from time to time pay or apply the whole or any part of the capital of the Trust Fund for such purposes or objects as are or may be for the time being legally charitable.” The purposes of the Charity are:

° The advancement of religion ° Relief of poverty ¢ Community ° Medical e Arts/Education

The Trustees have paid due regard to guidance issued by the Charities Commission NI in deciding what activities the Charity should undertake.

The Trust seeks to express Christian values by providing free holidays to needy cases (Rock House Holiday Home, opened in 1984), care for the elderly in the local Community (through Evergreens — a monthly gathering for senior citizens), as well as providing a couple who undertake pastoral visits to homes, hospitals etc and provide transport to hospital appointments and host a Restaurant/Auditorium where a seniors group can meet for fellowship and bible study. The Trust also expresses its Christian beliefs through the publication of booklets which are provided free of charge to those who request them. During Covid many of the normal activities were not possible but pastoral care and support was delivered via telephone calls and through Bible Study materials delivered by post.

Trustees receive and consider various applications for funding from many applicants. These are reviewed to establish if they are consistent with the objectives of the Trust.

In shaping our objectives for the year and planning our activities the Trustees have considered the Charity Commission’s guidance on public benefit.

Achievements and performance

While Covid prevented face to face engagement with many of the elderly and vulnerable in monthly gatherings we were able to connect regularly with the Evergreens group most of whom were confined to home. Regular telephone calls and door step visits with single meals from our kitchen provided welcome encouragement and a positive sense of wellbeing. With no groups attending functions we were able to establish a strong relationship with local Churches, the Salvation Army and the Simon Community as well as others as far away as Ballymoney, Coleraine, Maghera and Draperstown in order to provide single meals to the vulnerable. 150 meals were prepared weekly from our kitchen and over Christmas approximately 150 Christmas Dinners were delivered across the Community. This has continued in the last year although at a reduced level.

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ids.@ chartered accountants

TBF AND KL THOMPSON TRUST TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

Financial review

In 1978 at the inception of the Trusts the Charity had received very generous donations from the late Dr TBF and Mrs Kathleen Thompson. In the intervening years additional significant sums were donated by Dr Thompson. Through wise investment, particularly in property, the Assets of the Trust now amount to over £41M. The property rental income is directed towards supporting the various objectives of the Trust. In the year to 5 April 2024 the Free income generated was £3,217,394(in 2023: £2,658,342). This income was allocated to fund grants and related costs which totalled £2,244,449(in 2023: £2,113,416)

The property at Killyvalley Road, Garvagh was sold in January 2022. We subsequently entered into a five year lease which allows us to continue to use the office, restaurant and auditorium areas as required.

There are no restrictions on the Charity’s power to invest. The Investment strategy is kept under constant review by the Trustees and takes account of the demand for funds and the merit of specific funding applications.

Reserve Policy

It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charity’s current activities while consideration is given to ways in which additional funds may be raised.

Risk Management

The Charity has a risk management strategy in place which involves an annual review of the major risks to which the Charity is exposed. In particular the risks relating to the operation and finances of the Trust are assessed and consideration is given to the management of such risks. The Board of Trustees are satisfied that sufficient measures are in place to mitigate exposure to the major risks.

Structure, governance and management

The TBF and KL Thompson Trust is a Charitable Trust registered with the Charities Commission for Northern Ireland and governed by the Declaration of Trust dated 8 April 2005.

The Trustees who served during the year were:

Mrs ME Magowan

Mr G Mcllroy Mr G Scott Mr JA Burns Mr JE Gough Mr MA Bell Mr WM Gregg

Appointment of Trustees

Trustees are appointed by the Board of Trustees and serve until their membership is ended by the agreement of a majority of all Trustees, or by death. The Trustees meet a minimum of three times per year, and on other occasions when necessary.

The Trustees continue to miss and are indebted to their highly esteemed former Chairman and Founder of the Trust, Dr TBF Thompson who died on 1 January 2009. As a result of Dr Thompson's wisdom, thoughtfulness and generosity in financial terms to the Trust over many years, the Trust is well funded and in a position to continue (DV) the charitable and Christian work which was so deeply embedded in Dr Thompson's heart. We and countless others continue to be greatly indebted to him.

Mrs AE Thompson died on 8 September 2021. She had been a founding Trustee of the Trust and Trustees greatly miss her wisdom and her insight. She was faithful to the Christian principles and charitable objectives of the Trust.

279 =

ids.) chartered accountants

TBF AND KL THOMPSON TRUST TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

Organisation

The Board usually meets quarterly and there are sub-committees with co-optees who meet approximately 10 times per year to assess grant applications. The Chief Executive (Mr Ronnie McKee) has been appointed by the Trustees to manage the day-to-day operations of the Charity. The Chief Executive has delegated authority approved by the Trustees for operational matters including finance and employment.

Trustee Induction and Training

New Trustees undergo an orientation day to brief them on their legal obligations under Charity Law, the Charity Commission guidance on public benefit, content of the Declaration of Trust (Trust Deed dated 8 April 2005) the decision making processes, the business plan and the recent financial performance of the Charity. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their roles.

Related Parties

None of the Trustees receive remuneration or other benefits from their work with the Charity.

Statement of Trustees responsibilities

The Trustees are responsible for preparing the Trustees Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in Northern Ireland requires the Trustees to prepare accounts for each financial year which 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 that year.

In preparing these accounts, the Trustees are required to:

The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the accounts comply with the Charities Act (Northern Ireland) 2008, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust 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.

The Trustees report was approved by the Board of Trustees.

Dated: 17 September 2025

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ids.© chartered accountants

TBF AND KL THOMPSON TRUST

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF TBF AND KL THOMPSON TRUST

Opinion

We have audited the financial statements of TBF and KL Thompson Trust (the ‘Charity’) for the year ended 5 April 2025 which comprise the statement of financial activities, the balance sheet, 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 Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

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 in relation to which the Charities (Accounts and Reports) Regulations 2015 require us to report to you if, in our opinion:

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ids.@ chartered accountants

TBF AND KL THOMPSON TRUST

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF TBF AND KL THOMPSON TRUST

Responsibilities of Trustees

As explained more fully in the statement of Trustees responsibilities, 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 related to going concern and using the going concern basis of accounting unless the Trustees either intend to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 65(2) of the Charities Act (Northern Ireland) 2008 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 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 a high level of assurance but is not a guarantee that an audit conducted in accordance 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.

We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to; ° agreeing financial statement disclosures to underlying supporting documentation

There are inherent limitations in our audit procedures described. The more removed that laws and regulations are from financial transactions , the less likely it is that we would become aware of non-compliance. Auditing standards are also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence.

Material misstatements that arise due to fraud can be harder to detect than those that arise from errors as they may involve deliberate concealment or collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www. frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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TBF AND KL THOMPSON TRUST

ids.() chartered accountants

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF TBF AND KL THOMPSON TRUST

This report is made solely to the company’s members, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations (Northern Ireland) 2015. Our audit work has been undertaken so that we might state to the company’s members 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 company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

IDS Chartered Accountants LLP

Chartered Accountants

Statutory Auditor 23/25 Queen Street COLERAINE Co Londonderry BT52 1BG

IDS Chartered Accountants LLP is eligible for appointment as auditor of the Charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

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TBF AND KL THOMPSON TRUST

ids.=) chartered accountants

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 5 APRIL 2025

Unrestricted Unrestricted
funds funds
2025 2024
Notes £ £
Income and endowments from:
Donations and legacies 3 54,092 311,377
Investments 4 2,947,318 2,890,771
Other income 5 11,250 15,246
Total income 3,012,660 3,217,394
Expenditure on:
Charitable activities
Donations		 6 1,771,611 1,576,092
Mission Hall & Cornerstone 6 167,646 132,979
Rock House 6 355,049 332,546
Property Cost 6 212,097 202,832
Total charitable expenditure 2,506,403 2,244,449
Total expenditure 2,506,403 2,244,449
Net gains/(losses) on investments 12 (1,390,129) 6,660,268
Net income/(expenditure) and movement in funds (883,872) 7,633,213
Reconciliation offunds:
Fund balances at 6 April 2024 46,013,181 38,379,968
Fundbalancesat5April2025 45,129,310 46,013,181

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

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ids.@ chartered accountants

TBF AND KL THOMPSON TRUST

BALANCE SHEET

AS AT 5 APRIL 2025

2025 2024
Notes £ £ £ £
Fixed assets
Tangible assets 13 2,369,154 2,354,630
Investment property 14 39,757,436 41,227,436
Investments 15 57,664 41,408
42,184,254 43,623,474
Current assets
Debtors 16 154,897 4,188
Cash at bank and in hand 3,206,129 2,650,679
3,361,026 2,654,867
Creditors: amounts falling due within
one year
Taxation and social security 224,457 203,252
Other creditors 17 58,420 48,573
Deferred income 18 133,093 13,334
415,970 265,159
Net current assets 2,945,056 2,389,708
Total assets less current liabilities 45,129,310 46,013,183
Income funds
Unrestricted funds 45,129,310 46,013,183
45,129,310 46,013,183

The financial statements were approved by the Trustees on 17 September 2025

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Trustee L- a bagi CALI OAS.
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TBF AND KL THOMPSON TRUST

ids.@ chartered accountants

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 5 APRIL 2025

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|||||||||| |---|---|---|---|---|---|---|---|---| |2025|2024| |Notes|E|£|£|£| |Cash|flows|from|operating|activities| |Cash|absorbed|by|operations|21|(2,436,118)|(1,695,640)| |Investing|activities| |Purchase|of tangible|fixed|assets|(19,365)|-| |Proceeds|from|disposal|of|investment| |property|63,615|-| |Investment|income|received|2,947,318|2,890,771| |Net|cash|generated|from|investing| |activities|2,991,568|2,890,771| |Net|cash|used|in|financing|activities|=|0| |Net|increase|in|cash|and|cash|equivalents|555,450|1,195,131| |Cash|and|cash|equivalents|at|beginning|of year|2,650,679|1,455,548| |Cash|and|cash|equivalents|at end|of year|3,206,129|2,650,679|

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TBF AND KL THOMPSON TRUST

ids.cS) chartered accountants

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

Charity information

TBF and KL Thompson Trust is a Registered Charity (charity number 105758) The registered office is 12 Killyvally Road, Garvagh, Coleraine, BT51 5JZ.

The financial statements have been prepared in accordance with the Charity's governing document, the Charities Act (Northern Ireland) 2008 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 Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The Charity is a Public Benefit Entity as defined by FRS 102.

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 £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

1.4 Resources expended Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Trust to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings.

Irrecoverable VAT is charged against the expenditure heading for which it was incurred.

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ids.e) chartered accountants

TBF AND KL THOMPSON TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

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1.5 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Freehold land and buildings 0% Motor vehicles 25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement offinancial activities.

1.6 Investment properties Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in Statement of Financial Activities. 1.7 Fixed asset investments Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.8 Impairment of fixed assets At each reporting end date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10 Financial instruments The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors 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. Financial assets classified as receivable within one year are not amortised.

-42.-

ids.© chartered accountants

TBF AND KL THOMPSON TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2 Critical accounting estimates and judgements

In the application of the Charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. 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.

Critical judgements

Valuation of investment properties

The Trustees had met with their property advisors to review the valuation of the property investment portfolio and compared this to current market value and the remaining lease conditions. Changes in the fair value of the investment properties have been recognised in the Statement of Financial Activities.

3 Donations and legacies

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Donations and gifts 54,092 311,377

313s

TBF AND KL THOMPSON TRUST

ids.@ chartered accountants

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

4 Investments

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Rental income 2,843,501 2,859,560
Income from listed investments 2,320 2,016
Interest receivable 101,497 29,195
2,947,318 2,890,771

5 Other income

Consultancy Fees

Unrestricted Unrestricted
funds funds
2025 2024
£ £
11,250 15,246

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ids.® chartered accountants

TBF AND KL THOMPSON TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

7 Net movement in funds 2025 2024
£ £
The net movement in funds is stated after charging/(crediting):
Fees payable forthe audit ofthe charity's financial statements 4,000 3,000
Depreciation ofowned tangible fixed assets 4,841 -
Profitondisposalofinvestmentproperty (63,615) -

8 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year.

9 Employees

The average monthly number of employees during the year was:

The average monthly number of employeesemployees during the year was:was:
2025 2024
Number Number
15 16
Employment costs 2025 2024
£ £
Wages and salaries 458,954 406,370
The number ofemployees whose annual remuneration was more than £60,000
is as follows:
2025 2024
Number Number
£60,000 - £100,000 1 1
Remuneration of key management personnel
The remuneration of key management personnel was as follows:
2025 2024
£ £
Aggregatecompensation 77,000 78,500

af7 =

TBF AND KL THOMPSON TRUST

ids© chartered accountants

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

10 Support costs

Support costs
Support Governance 2025 Support Governance 2024
costs costs costs costs
£ £ £ E £ £
Staffcosts 458,954 - 458,954 406,370 - 406,370
Depreciation 4,841 - 4,841 - - -
Operating lease charges 5,000 - 5,000 5,000 - 5,000
Motor and travelling
expenses 25,010 - 25,010 15,077 - 15,077
Stationery & advertising 7,613 - 7,613 4,866 - 4,866
Telephone 4,140 - 4,140 5,825 - 5,825
Postage & carriage 713 - 713 219 - 219
Computer costs 4,471 - 4,471 2,833 - 2,833
Bankinterest
& charges		 1,171 - 1,171 1,115 - 1,115
Gifts 1,810 - 1,810 1,574 - 1,574
Heathlands 7,211 - 7,211 6,469 - 6,469
General expenses 7,167 - 7,167 3,549 - 3,549
Audit fees - 4,000 4,000 - 3,000 3,000
Accountancy - 1,848 1,848 - 1,300 1,300
Legal and professional 19,993 - 19,993 27,346 - 27,346
Consultancy fees 2,074 - 2,074 8,725 - 8,725
550,168 5,848 556,016 488,968 4,300 493,268
Analysed between
Charitable activities 550,168 5,848 556,016 488,968 4,300 493,268
Governance costs includes payments to the auditors of£4,000 (2024- £3,000) for audit fees.
~+Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
Net gains/(losses) on investments
Unrestricted
funds Total
2025 2024
£ £
Revaluation ofinvestments (1,453,744) 6,660,268
Gain/(loss) on sale of investment properties 63,615 -
(1,390,129) 6,660,268
  1. ~+Taxation

12 Net gains/(losses) on investments

TBF AND KL THOMPSON TRUST

ids.@ chartered accountants

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

13 Tangible fixed assets

Tangible fixed assets
Freehold land Motor Total
and buildings vehicles
£ £ £
Cost
At 6 April 2024 2,354,630 - 2,354,630
Additions - 19,365 19,365
At 5 April 2025 2,354,630 19,365 2,373,995
Depreciation and impairment
Depreciation charged in the year - 4,841 4,841
At 5 April 2025 - 4,841 4,841
Carrying amount
At 5 April 2025 2,354,630 14,524 2,369,154
At 5 April 2024 2,354,630 - 2,354,630
Investment property
2025
£
Fair value
At 6 April 2024 41,227,436
Net gains or losses through fair value adjustments (1,470,000)
At5April2025 39,757,436

14 Investment property

Investment property comprises property in Great Britain and Northern Ireland. The fair value of the investment property has been arrived at on the basis of a valuation carried out by John Burns. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

-19-

|idSo chartered accountants

TBF AND KL THOMPSON TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

15 Fixed asset investments

Listed
investments
E
Cost or valuation
At 5 April 2024 41,408
Valuation changes 16,256
At 5 April 2025 57,664
Carrying amount
At 05 April 2025 57,664
At 05 April 2024 41,408
16 Debtors
2025 2024
Amounts falling due within one year: £ £
Trade debtors 152,711 -
Other debtors 2,186 39
Prepayments and accrued income - 4,149
154,897 4,188
17. Other creditors falling due within one year
2025 2024
£ £
Trade creditors 29,684 25,189
Accruals and deferred income 28,736 23,384
58,420 48,573
18 Deferred income
2025 2024
£ £
Arising from Rental Income 133,093 13,334
Deferredincomeisincludedinthefinancialstatementsasfollows:

= 90 =

| TBF AND KL THOMPSON TRUST

7 ids. chartered accountants

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

18 Deferred income

(Continued)

2025 2024
£ £
Deferred income is included within:
Current liabilities 133,093 13,334
Movements in the year:
Deferred income at 6 April 2024 13,334 31,334
Released from previous periods (13,334) (31,334)
Resources deferred in the year 133,093 13,334
Deferredincomeat5April2025 133,093 13,334

19 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 6 April Incoming Resources Gains and At 5 April
2024 resources expended losses 2025
£ £ £ £ £
General funds 46,013,182 3,012,660 (2,506,403) (1,390,129) 45,129,310
Previous year: At 6 April Incoming Resources Gains and At 5 April
2023 resources expended losses 2024
£ £ £ E £
Generalfunds 38,379,968 3,217,394 (2,244,449) 6,660,268 46,013,182

20 Related party transactions

There were no disclosable related party transactions during the year (2024 - none).

Remuneration of key management personnel

The remuneration of key management personnel was as follows:

2025 2024
£ £
Aggregate compensation 77,000 78,500

-21-

ids.® chartered accountants

TBF AND KL THOMPSON TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2025

==> picture [487 x 248] intentionally omitted <==

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |21.|Cash|absorbed|by|operations|2025|2024| |£|£| |(Deficit)/surplus|for the|year|(883,872)|7,633,213| |Adjustments|for:| |Investment|income|recognised|in|statement offinancial|activities|(2,947,318)|(2,890,771)| |Gain|on|disposal|of investment|property|(63,615)|-| |Fair|value|gains|and|losses|on|investments|1,453,744|(6,660,268)| |Depreciation|and|impairment|of tangible|fixed|assets|4,841|-| |Movements|in|working|capital:| |(Increase)/decrease|in|debtors|(150,709)|193,132| |Increase|in|creditors|31,052|47,053| |Increase/(decrease)|in|deferred|income|119,759|(18,000)| |Cash|absorbed|by operations|(2,436,118)|(1,695,641)| |22|Analysis|of changes|in|net funds|

----- End of picture text -----

The Charity had no material debt during the year.

ee

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