Charity règlstralion numb•r SCO52763 Iscodandl THE JESS THOMPSON TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2024
THE JESS THOMPSON TRUST LEGAL AND ADMINISTRATIVE INFORMATION IApFY)inted 21 August 20231 Charity riumber IS¢ottandl SC052763 Auditor MMG Archbold Limited 78-84 Bell Street Dundee DD1 1RQ Soll¢itoY• Irvin9 Godde8 WS, S(Aicf(ors 25 West High Street CRIEFF PH74AU
THE JESS THOMPSON TRUST CONTENTS Page Trustees, report Slalemenl of trustees. responsibilit$ Independent audltorfs report Slalernenl of finanryal activf(ies Balance sheet Stalernenl of cash flows Notes to the financial statemt$ 10-14
THE JESS THOMPSON TRUST TRUSTEES. REPORT FOR THE PERIOD ENDED 31 MARCH 2024 The trustees Present thalr annual rèport 8nd finanaal statements for the Period end¢d 31 March 2024. Tho financial ststsmenls have been prepared in 8rLord8nce with the accounting polries set out n note 1 to the financial 5taternents and comply with thè trust's goveming document, the Charities and Trustee Inwstrrént (Scotlandl Act 2005, Ihe Chaiilie5 Accounls Iscotlandl Regvlations 2008, FRS 102 'The Financlal Reportlng Standard applicèble in the UK and Republic of Ireland" and the Charitie$ SORP 'Accounling and Reporting by Charitias." Slatèmenl of Re¢cmmendod Practice applicablg to ¢haritlO8 preparing their accounts in accordance wrth the Financial Reporting Standard applicable in the UK and Rèpublic of Ireland IFRS 1021". ObJ•ctl¥8s and a¢tlvSti The Trust was established to prOe financial 5UPPOrt ID charitable organisats'ons engaged in a&sisting wrth the treatment or research of kidney disease, as per the donor's express wishes. Specifilly. some fvn(ts must be used for the Iraatmènt of kldney-3s$ociated diseases, including the provtgion ol kidney ¢Jialysis ma¢hine8 foi home use. The Tiusl does not undertake direct tharilabl8 activities bul opefales Sole 8$ a grant-making entity. The tru$lees will identsfy and drslribut& funds to or9anisation$ best suited lo fvffilling the charitls purpose. Achlevom•nts and p•rfonnance Significant activilies and èchiev&m¢nts against obj8cfr"v&s As this is the Tru51's first year cf operation, tt)e primary f¢cu5 has been on estabShIng govemance structures and identifying suitable recIpnI chariiies. At the lime of reporting. no distributions have been rnade, but thè truste¥s remain committed to disbursing the avallable fvnds expedienty to ippropriate organisations. Flnanclal rovlgw The Trust received a legacy of £1.772.U28 from the eslale of Jess Thompson. At 31 March 2024. Ihe Twsl held lotal assets of £1,816.316. whi¢h includes bank interest accrued on deposits. Unreslrlcted ReseNes al year4nd.' £1,804,316 Inve5trnenl Income.. Derived solely from bank intei¢s1 Rè$lricted or designated funds.. None Given the nature of the Trust, there is no inlenllon lo generate arjdlllonal income through fundraislng or invèstments. The Iru31ee5 intend to distribute the fijnds lo appropriate charitie5 in accordan with the Trust's objectives and 5ub$equenUy wind up tho charity- R8sgNgs p1¢Y The Trust holds unrestricted reserves lo fulfil its charitable purpose. Sinca all ltsnds are irnlèndod f¢y distribution as soon as pra11. there is no ongoing reserves policy beyond ensuring cienl liquidity for professional fees. outlays and grant payments. Plan8 for future period$ The Iruslee5' primary objeth've is to identify suitable thar(fable organisati0Tr3 aligned wth the Trust's purpose and to di$tn'bLrte ftjnds in accordance with Jèss Thompson'$ wishes. Once all funds have been allocated, the Trust will Proceed with its plann&d wnd-up. Structure, govemanc6 and managemef>t The Jess Thompson Trust was established by deed of trust and operates as a ¢hartsble trust. The govemance of thg trust is the rasponsibility of the appointed tTUStees, who oversee its activilies In accordance with the trust deed and ralèvant lègal and regulatory requirements. The trustèes have absolutè discreb.on in di51ribu*'ng funds to charitable In5tituticsns SUPPOrting Ihe Ireatmènt and rèseaich of kidney disease, in line with the wishes of Ihg late Jess Thompson. The trustees who served durinq the Period and up to the date of sianature of1he financial slatements werg.
THE JESS THOMPSON TRUST TRUSTEES. REPORT (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2024 ReGnJitment and apptment of tnjstsès Tru$lee5 are appointed by the axisting trustse8, in aexordance with the terms of the trust deed. The appointment process indudes.. Identifying 8uilablts candidates with relevant experien¢e in charty govtrTnance, financtal management. and he21thcare-related grant-making. Assessing prospective trustees against the needs of Ihe Tnjsl. in¢luding their ability to o)ntribute to tho effective management and distribution ol fund5. A fom)al appToval pro¢es8 by tho exi8tsng trustees, ensuring that al appointments abign wth the ¢haritable objectives ofthe Trust. There are no external bodies indivwjuals with 1he auihority to appoint trustees lo the Trust. The trustees retain fvll disryelion over appointments, and all new twstees are prolded with an Induction covering their legal responsibilrb'es, the 9ovafnanca framèwoth, and Ihè eh8rilable obiecbve5 of the TTLlSt. The trustees, re ortwaga mvgd b e 8oaid of Trustees. Tru$te• Date..
THE JESS THOMPSON TRUST STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE PERIOD ENDED 31 MARCH 2024 The trustèès are re4)onsible for preparing the Trustees, Report and the financial stalernenls in accordance with applicablg law and United 'ngdoM Accounting Sland8rd5 (United Kingdom Generally Accepted Accounting Pra¢licel. The law applicable to charities in Scotland Tequires Ihe trustees lo prepare financial statements for each financial Period which give a true and fair view of the state ol affair5 of the trust and of the incoming resources and application of resources of the trust for that Period. In preparing these finanaal statements. the Iruslees are required to.. select suitable accounting poli¢ies and Ihen apply them consistently., obsetve the mèthods and principles in the Charities SORP., makè judgernent5 and estimates that are reasonable and prudent.. slate whether applicable accounting standards have been followed, subject to any material departures disdosed and explained in the financial statements." and prepare the financial statements on the golng ctsncèm basis unless it is inappropriatè to presume that the charity will continue in op6ration. trustees are responsible for keeping sufficiènt accounn9 records that disctose with reasonable accuracy at any lime the financial p0511ion of the trusl and enable them lo ensure that the financial statements comply with the ChaTrtie5 and Trustee Investment IScotland} Act 2005, the Charities Accounts (Scotlandl Regulations 2006 and the provisions of the trust deed. Thèy arè also responsible for safeguarding the assets of thg trust and hence for taking Teasonable steps for the prevention and detection of fraud and other irregulariti'es.
THE JESS THOMPSON TRUST INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE JESS THOMPSON TRUST Opinion We havè audited the financial stalemonts of The Jess Thompson Trust Ilhe 'lrusl'l lor the Period ended 31 March 2024 which cornprise the statement of finanual aclivilies, the balance sheet, the siatement of cash flows and notes to the financial statements, induding signific8nl accounting poliaes. The financial reporting framework that ha$ been applied in their preparation is applicable law and United ngdoM Accounting Standards. induding Financial Reporting Standard 102 The Financff81 Repoknng Standard applicable in th& UK and Republ of Ireland (United lfjngdom Generally Accepted Accouniing Practice). In our opinion, the financial statements". give 8 true and fair view ol the state of thè tharity's 8ffair5 as al 31 March 2024 and of its incoming resourcès and application of resources, for the Period then ended., have been properly prepared in acLordancè with Llnile¢J Kingdom Generally Accepted Accountsn9 Practice,. and have been prepared in accordance with the Charrtaes and TIu51ee Investment (Scollandl Act 2005 and regulation 8 of the Charities Accounts Isctsdandl Regulations 2(X)6. Basis for oplnlon We conducted our audit in accordan¢g with Intemation81 Stsndards on Auditing (UK) {ISAs IUK)) and applicable law. Our responsibilities under those standards are further described in the Auditorts sponsibl111&S lor th& audit of Ihe financial stalemenls section of our report. We are independent of the trust in aecordance with the ethical requirements that ara rèlévant lo our 8udil of the financial statements in the UK, including the FRC'S Ethica5 Standard. and we have fulfilled our other ethical responsibilities in accordance with thése requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to proe a basis for our opinion. Con¢luslon$ relating to going conc•rn In auditing the finaneial slatemenls. we have conduded that thè tnJstèe5' use of the going concem basis of accounting in the preparation of the financial statements is appropriatè. Basèd on the work we have performed, we have not identified any material uncertainties felating to events or ¢ondrtions that. individually or collectively, may cast significant doubt on the trust's ability to continue as a going ¢on¢ern for a period of at least e1ve months from when the financial statements are authorised for issuè. Our responsibilits'es and the responsibilities of the trustees with respect to going concèrn are described In the relevant sections of this reporL Other information The other infomiation comprises the infomiation included in the annual report other than the fjnancial 51alernenls and our auditors report Ihereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements doès not cover the other information and we do nol express any form of assurance conclusion thereon. Our responsibility is lo read the other information and, in doing so, consider whether the other information is materially inconsislenl with the financAal statements or our knowledge obtainèd in the course of the audit, or otherwisè appears to be maleiially rnisstated. 11 we identify such material inconsistènaes oi apparent material misstatements, we are required to determine whether this gives rise to a material misstalemenl in the financ+al statements themselves. If, based on the work we have performed, we ¢ondude that there is a material misstatem6nt of this other information, we are required to report that fa. We have nothing to report in this regard. Matters on whlch we ar• requlr•d to report by exception We have nothing to report in respect of the following matters in relation lo which the Charities Accounts (Scotlandl Regulations 2006 requires us to report lo you rf. in our opinion.. the information given in the financ¢al statemonls is inconslslenl in any material respec* the trustees, report., or proper accounting records have not been k8Pt,' or the financial statements are not in agreement with the a¢untIng records.. or we have not receiveil all the information and explanations we require for our audit.
THE JESS THOMPSON TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE JESS THOMPSON TRUST Responsibilities of trust•es As explained more fijlly in the statemènt of trustees, respon5ibilf(ies, 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 su¢h internal control as the trustees detemine is necessary lo enable the preparation of financial statemènts that are free from rnalerial misstatement, whether due lo fraud or error. In preparing the financial slalemenls. the Iruslees are responsible for assessing the trust's ability lo continue as a going concem, disclosing. as applicable, matter5 related to going concem and using the going concern basis of accountiny unless the Iruslees either intend to cease operatr'on$. or have no realistic allemalive but to do so. Audltorfs rospon$lbilltlès for the audit of the financlal statèmonts Vve have been appointed as 8udilor under section 44{1llcl of the Charities and Trustee Investment Iscotlandl Act 2005 and rèport in accordance with the Act arjd relevant regulations made or having ellect Iheieunder. Our objectives are lo obtain reasonabla a$$urance about whether the financyal statements as a whol& are freè from material misstatement, whether due to fraud or erTor. and to issue an auditor's report that indudes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always dèled a material misslatemenl when it exists. Misstatements can artse frorn fraud or error and are considered m8leri81 rf, individually or in the aggregate, they eould reasonably be expected lo influence the economic deusions of users taken on the basis of these finan¢ial stslemenls. The 8Xtenl lo which OUT proCedUS ar8 capable ol detecting irregularitses, induding fraud, is detailed below. OurApproach to Identlfylng and AvJes3ing Risks of Irregularfties, Including Frdud In identrfying and a5SgSsing risks of material misstalemant in thg financtal slalemenls due lo irregularities, induding fraud, wè.. Obtained an understanding of the legal and regulatory framework applicable lo the Trust and considèrèd ¢offlpliance with relevant laws and regulations, induding charity law and financial reporting requirements. Considered the susceplibility of tha financial slalements to material misstatement due to fraud by evaluating management override ol controls, potential bias in accounting 6Stimates. and the risk of fraudulent transactions. Reviewed the control envir(>nmenl lo assess the effectiveness of policiès and pro¢¢durès in prevents.ng and delecting fraud and non-compliance. Audlt Pro¢edures Perfornied to Address Irregulariti•$, In¢luding Fr¥ud Our audi( procedures included.. Reviemng minutes of Iruslee meetings for evidence of any concems regarding fraud or non-compliance. Making direct enquiries with trustees and management regarding awareness of any a¢tual Of Suspected fraud or irrègularities. Anatysing bank transactions for any unusual or unexpected activity. Testing joumal entries and other adjustments for appTopriatene55, assessing whether they were indicative of management override of controls. Reviewing financial siatemant disdosures lo ensure compliance with applicable laws and regulations. Irregularities, including fraud, can Involve sophisticated concealment through ¢olluwon. forgery, intentional misrepresentstions, or override of controls. As a resuli, even an èffediw audit may not dola¢t all irre9ularilEs, particularly where there is deliberate fraud. We have designed our audit procedures to detect material rnisslatements in the financial statements. whether due to fraud or error. However, there is a higher inhérènt risk in detecting irregularities arising from fraud comp8red lo errors, gwen the nature of fra(UleI acb'vities.
THE JESS THOMPSON TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE JESS THOMPSON TRUST A ftjrther description of our responsibilities is available on the Financial Reportin9 Councd's website at.. httpsjl www.frc.org.ukJauditorsrespc*nsibilities. This description forms part of our audilorfs report. Use of our report Thi5 report is made solely to the tharlty's twslees. as a Iiody, In seeordance wrth Regulation 10 of the Charftles Accounts {ScoUand} Regulation3 2006. Our audit work has been undertaken so that we might state to the ¢harity'$ trusteos those mattars we are rgquired lo stale lo them in an auditor's report and for no other purptsse. To the fvllesl gxt8nt peimittèd by law. WÈ do ntst accept or assume responsibility to anyone othèr than the charity and the chairty'$ Iruslees a5 a body, for our audit work, for this report, or for tho oplnlons we have fonned. For and on behalf ol MMG Archbold Limited. Stalulory Auditor Chartered Accountants 7&84 Bell Street Dundgè DD1 1RQ Date.. .. MMG Archbold Limtled is eligible for appointment as auditor of the trust by wrtue of itJ eligibility for appointment a3 auditor of a company under se¢tion 1212 of the Companies Act 2006.
THE JESS THOMPSON TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE PERIOD ENDED 31 MARCH 2024 UnTg5tricted fund$ 2024 Notes Ineom• from: Oonations and lagauès Investments 1,772,028 44,288 Totsl In¢om• 1,816,318 Experiditure on: Charitable actiwlie5 12,000 Total •xp8ndltur• 12,000 Net Sncome and movement In fvnds 1,804,316 Reconciliation of funds: Fund balances at 21 August 2023 Fund balancas at 31 March 2024 1,804.316 The slalement of finanaal activkiès includes 811 gains and losses recognised in the Period. All income and expenditure deriva from contsnuing activitie5.
THE JESS THOMPSON TRUST BALANCE SHEET AS Af31 MARCH 2024 2024 Not•s Current a•èts Debtors Cash at bank and in hand 11 635 1,815,681 1.816.316 112.000} Crndltorn: amounts lalling due within ong year Ngt curront assgts 1,804.316 Th fund$ of the trust Unrestricted funds 13 1,804,316 1.804.316 The ncial sta ents we roved by tho Iru$ttreS on ........ Truste
THE JESS THOMPSON TRUST STATEMENT OF CASH FLOWS FOR THE PERIOD ENDED 31 MARCH 2024 2024 Not•s Cash flows from oporatlng activitie$ Cash generated from op&ration$ 15 7,771,393 Investlng actlvlttos Investment income recèived 44.288 N•t ¢4¥h generatsd from inv•sting aetivlti•$ 44,288 N•t cash gen•rat•d from financing actlvities Not In¢a$e in cash and cash oqulval¢nts 1,815.681 Cash and cash equivalents at beginning of Period Cash and cash equivalents at •nd of Pèrlod 1,815.681
THE JESS THOMPSON TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2024 Accounting pollcl•8 Charity rnfonnation The Jess Thompson Trust is a Charitable Trusl conslitutad by a Deed ofTwsL 1.1 Reporting perfod Thtrse financial statements cover the period from 21 August 2023 10 31 March 2024, being the first period of the charity's operations. As a resuK. the finw)cial slalemenls do not cover a fv$1112 months. Consequently, Ihere are no comparative figures esented in these accounts. 1.2 Aceountlng convention The finanaal statÈmenls have been prepared in accordance with the Irusfs goveming dowment. the Charities and Trustee Inve5trnenl (Scotlandl Act 2005, the Charitiès Accounts Iscodandl Regulations 2006, FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP 'Awountsng and Reporting by Charitiès". Statement of Recornmended Praciice applicable to tharities preparing their accounts in accordance with the Finan81 Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" The trust is a Public Benefit Entty as deffined by FRS 102. The financial ststemenls are prepared in sterling, which is the functional currency of the trust. Monetsry amounts in thgse financial ststements are rounded to Ihe nearest £. The financial statements have been pared under the historical ¢051 convention. The princApal accounting policies adopted are set oul below. 1.3 Golng concem Al the lirne of approwng the financial statements. the Iruslees have a reasonable expectation that the tnjst has adequate resources to continuè in operational eStenCe for the foreseeable future. Thus ihe Iruslees continue to adopt the going concern basis tsf accounting in preparing the financial statements. 1.4 Ch•ritsble funds Unréstricted lund5 are available for use at the discretion of the Iruslees in furtherance of their charitable objectives. Rastricted fund$ are subject lo speafic conditions by donors or grantors as lo how they rnay be used. The purposes and uses of the restrided funds are set out in the notes lo the finanrial Statements. Endowment fund5 are subject to spe¢ific conditions by donofs that the capital musl be maintsined by the trust. 1.5 Incomo Income is recognised when the trust is legally entitled to it after any p6rformancè conditions have been mel, the amounts Ixn be measured reliabty. and il is probable that Income will be ceived. Cash donations a regnISed on receipt. Other donations are recognised once the trust has been notified of the donation, unle55 performance condits'ons require deferral of the amount. Income tax recoverable in Telation to donations received under GrfÉ Aid or deeds ol covènant is recognised al the lime of the donation. Lega¢ies a re¢o9nised on reIpl or otherwise if the trust has been notified ol an impending distribution. the amount Is known, and receipt is expected. If the amount is not known, the legacy 15 Irealed as a contingent asset. 10-
THE JESS THOMPSON TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2024 AccountSng policies Icontinuedl 1.6 Expènditure Expenditurè is recognised orKe there is a legal or constructive obligation lo transfer economic benefit to third party, il is probable th81 a transfer of econom benefits will be required in settlement, and the amount of the obligation can be rneasured reliably. Expenditure is classified by adiwty. The costs of each ath'wty are made up of the total ol dirèct Costs and shared costs, including support ¢osls Involved in undertaking ea¢h a¢tivrty. Dlre¢t costs attribul8ble to 8 single aciivity are allocated dire¢tly lo that activity. Shared costs which coNtribute lo more than one activity and support costs which are not attributable to a single actiwty are apportioned between those activities on a basis consislenl with the use of resources. Central staff costs afe allocaled on the basis of time spent, and d&predalion ¢harges are allocated on the portion of the asset's Ljse. 1.7 Cash and cash equivalents Cash and cash èquivalents indude cash in hand. deposits held al c811 wf(h banks, other 5hort-lemi liquid investménts with original rnalurilies of three months or lass, and bank overdrafts. Bank overdrafts are shown within boriowing5 in current liabilities. 1.8 Flnanclal Instruments The trust ha5 eleded to apply the provisions of Section 11 'Basic FinancAal In5trurnents' and Section 12'0thar Financial Instruments Issues, of FRS 102 to all of Ils finanaal instruments. Financial instruments are recognised in the trusf5 balance sheet when the trust becomes party lo the conlractual provisions of the instrument. Financial assets and liabilitlÈS are offset, wth the net arnounts presented in the finantyal ststemenls, when ther6 is a legally ènforc8able right to set off the recognised amounts and there is an intention lo settle on a net basis or lo alIse the asset and settle the liability simultanèously. Basff¢ financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and arè subsequently carried al amortised cost using the effective interest rnelhod unless the arrangement eonstilules a financing transaction, where the transaction is measured al the present value of the future reIP1S discounted al a market rate of interest. Finanaal assets classified as ieceivable within one year are not amortised. Basic financial liabllities Basic financial liabilities, induding Creditors and bank loans are inits'ally recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt Ir15trument is measured al the present value of the future payTnenls discounted at a market rate of Interest. Fbnanaal liabiif(ies ¢18ssified as payable within one year are not amortised. Debt instruments are subsequentjy carri&d at amorb.sed cost, using the effective interest rate method. Trade creditors are obligations lo pay for goods or services that have been acquired in the ordinary course of operalions from supplièrs. Amounts payable are classified as current liabilities if payment 1$ due within one year or less. If not. they are presented as non-currenl liabilities. Trade credloTS are reeognised inilially at transaction price and subsequently measured at amoru'sed cost using the effective interest method. Derecognltion of financial Ilabllltle$ Financial liabilities are derecognised when the Iru$l's Contractual obli9alions expire or are discharged or Cancelled.
THE JESS THOMPSON TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2024 Crltical accountlng ostlmates and ludg•m*nts In the application of the Irusl's accounliThJ policies. the tnjstees are required to make judgernents. estimate5 and assumptions about the carrying amount of assets and liabilrftiès that are not ieadily apparent from other sour5. The eslimales and assoaated assutnplions are based on historical experience and other factors that are ¢onsidered to be relevant. Actual results may differ from these eslimale5. The estimates and undedying a55umptsons are reviewed on an ongoing basis. Revtsions to accounting estimates are re¢ognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the rgvision and future pariods where thè vIsion 8ffecls bolh current and future periods. Income from donations and Ipgaci•s Unrestricted fund¥ 2024 LegacAes 1,772,028 Incom8 from Inv•$tm•nts Unrestricted fvnds 2024 Interest rewvable 44,288 Expenditure on charltable a¢tivillè$ Total 2024 Dlrèct ¢osts Shar• of Support and govemance costs (see note 61 Govemance 12,000 Anatysls by fund Unrestrictsd funds 12.000 Support ¢o$ts allocated to activlties Total 2024 Govemance 12,0 12
THE JESS THOMPSON TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2024 Support costs allocatsd to a¢tiviti¢$ Icontinuedl 2024 Gov8rnanc• Costs Comprise: Audit fees Accountancy 8,400 3,600 12.000 The Accountancy fees r&pre5enl non-audil serVS provided by the Trnsfs Auditor Net movement In funds 2024 The net movement in fund5 15 Staled after chargingllcreditingl.. Fees payable for the audit of the charitys financial statements 8,400 Tru$tse$ None of the trustees lor any persons connected wth them) receed any remuneration or beneffts from the trust during the Period. Employeès 2024 Numb•r Total The charity had no employees during the period. No remuneration or bènefrts We paid lo any trustees or key managèment pèrsonnel. There were no employees whose annual remuneration was more than £60,000. 10 Taxation Thè ¢harty is exempt from iaxation on its activlties because all ils inrne is applied for charitable purposes. 11 Debtors 2024 Amounts falling due within one y•ar. Other deblors 635 13-
THE JESS THOMPSON TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2024 12 Cr•dltors: amounts lalllng due within one year 2024 Accruals and dèfèrred income 12,000 13 Unre$trl¢tsd ftsnd$ The unrestricted funds ol the ch8rily wmprise the unexpended balances of donations and grants which are not subject to specific conditions by (6onor5 and grantors as to how they may be used. These include dèsignated funds which have been sel aside out Of unrestricted fijnds by the Iruslee5 for speciffc purposes. At 21 August 2023 Incoming resources Rosources At 31 Mareh gxpèndod 2024 General funds 1,818.316 (12,0001 1.804,316 14 Related party tran$a¢tion$ There were no disrjosable related party transactions during tha period. 16 Ca$h gonerat•d from oporntlons 2024 Surplus for the Period 1,804,316 Adjustments for. Investment income recognised in statèment of ffinancial activities {44,2881 Movements In worklng ¢apltal,. Iln(Yeasel in debtors Increase In credsiors (6351 12,000 ash generated from opèrdtion¥ 1,771,393 16 Analysls of ¢h#nges in net fundslldebt> The trust had no material debt during the year. 14-