Trust for Sir Neil and Ladies Thorne - Charities report

REGISTERED COMPANY NUMBER: 11449025 (England and Wales)

REGISTERED CHARITY NUMBER: 1183615

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

FOR

THE TRUST FOR SIR NEIL AND LADIES SHEILA

AND ELIZABETH THORNE LIMITED

Page

Report of the Trustees

1

to

2

Independent Examiner's Report

3

Statement of Financial Activities

4

Balance Sheet

5

Cash Flow Statement

6

Notes to the Cash Flow Statement

7

Notes to the Financial Statements

8

to

13

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 July 2025. The trustees have adopted the provisions of 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 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The purposes of the trust are to support educational projects, relief of sickness and promotion of good physical and mental wellbeing, the promotion of religious harmony between faiths through education and the preservation and conservation of historic buildings and monuments and historical records and archives and education of the public in the buildings, memorials and related events.

Significant activities

During the the year the trust received in from the Executors of Lady Elizabeth Thorne a portfolio which is administered by Charles Stanley and will provide income in the future to fund the charitable activities of the Trust. The executors of the estate also made further donations into the trust of income received during administration. The charity has been able to make a number of grants to charitable institutions..

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

11449025 (England and Wales)

Registered Charity number

1183615

Registered office

C/O Virtual Company Secretary Limited

7 York Road

Woking

Surrey

GU22 7XH

Trustees

S Thorne Parliamentary Advisor

N Thorne Parliamentary Consultant

A Montlake Solicitor

S J Sanders Business Development Director

Company Secretary

ARM Secretaries Limited

Independent Examiner

David Belbin

Clemence Hoar Cummings

Chartered Accountants

Riverside House

1-5 Como Street

Romford

Essex

RM7 7DN

Approved by order of the board of trustees on 24 April 2026 and signed on its behalf by:

N Thorne - Trustee

Independent examiner's report to the trustees of The Trust For Sir Neil and Ladies Sheila and Elizabeth Thorne Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 July 2025.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1.	accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

2.	the accounts do not accord with those records; or

3.	the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

4.

the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

David Belbin

Clemence Hoar Cummings

Chartered Accountants

Riverside House

1-5 Como Street

Romford

Essex

RM7 7DN

24 April 2026

2025

2024

Unrestricted

Total

fund

funds

Notes

£

INCOME AND ENDOWMENTS FROM

Investment income

2

33,210

33,590

EXPENDITURE ON

Raising funds

3

5,322

4,903

Charitable activities

4

Grants to Institutions

11,445

24,558

Total

16,767

29,461

Net gains on investments

61,749

105,115

NET INCOME

78,192

109,244

RECONCILIATION OF FUNDS

Total funds brought forward

1,369,570

1,260,326

TOTAL FUNDS CARRIED FORWARD

1,447,762

1,369,570

2025

2024

Unrestricted

Total

fund

funds

Notes

£

FIXED ASSETS

Investments

9

858,999

825,574

Investment property

10

400,000

1,258,999

1,225,574

CURRENT ASSETS

Cash at bank

190,947

145,538

CREDITORS

Amounts falling due within one year

11

(2,184

)

(1,542

)

NET CURRENT ASSETS

188,763

143,996

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,447,762

1,369,570

NET ASSETS

1,447,762

1,369,570

FUNDS

12

Unrestricted funds

1,447,762

1,369,570

TOTAL FUNDS

1,447,762

1,369,570

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2025 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a)	ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 24 April 2026 and were signed on its behalf by:

N Thorne - Trustee

Cash flows from operating activities

Cash generated from operations

1

14,658

4,286

Net cash provided by operating activities

14,658

4,286

Cash flows from investing activities

Purchase of fixed asset investments

(65,540

)

(22,407

)

Sale of fixed asset investments

96,089

45,555

Interest received

202

185

Net cash provided by investing activities

30,751

23,333

Change in cash and cash
equivalents in the reporting period

45,409

27,619

Cash and cash equivalents at the
beginning of the reporting period

145,538

114,510

Cash and cash equivalents at the
end of the reporting period

190,947

145,538

1.	RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

2025

2024

£

Net income for the reporting period (as per the Statement
of Financial Activities)

78,192

109,244

Adjustments for:

Gain on investments

(61,749

)

(105,115

)

Interest received

(202

)

(185

)

Previously unrealised gains crystallised

(2,225

)

-

Increase in creditors

642

342

Net cash provided by operations

14,658

4,286

2.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.8.24

Cash flow

At 31.7.25

£

Net cash

Cash at bank

145,538

45,409

190,947

145,538

45,409

190,947

Total

145,538

45,409

190,947

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2.	INVESTMENT INCOME

2025

2024

£

Rents received

18,600

18,300

Portfolio Investment income

14,408

15,105

Curr asset inv income

202

185

33,210

33,590

3.	RAISING FUNDS

Raising donations and legacies

2025

2024

£

Support costs

66

71

Other trading activities

2025

2024

£

Property Repairs

770

276

Insurance of Property

737

957

1,507

1,233

Investment management costs

2025

2024

£

Portfolio management

3,749

3,599

Aggregate amounts

5,322

4,903

4.	CHARITABLE ACTIVITIES COSTS

Grant

funding of

activities

Support

(see note

costs (see

5)

note 6)

Totals

£

Grants to Institutions

7,017

4,428

11,445

5.	GRANTS PAYABLE

2025

2024

£

Grants to Institutions

7,017

22,250

6.	SUPPORT COSTS

Governance

Management

Finance

costs

Totals

£

Raising donations and legacies

-

66

-

66

Grants to Institutions

2,312

-

2,116

4,428

2,312

66

2,116

4,494

7.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 July 2025 nor for the year ended 31 July 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 July 2025 nor for the year ended 31 July 2024.

8.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

fund

£

INCOME AND ENDOWMENTS FROM

Investment income

33,590

EXPENDITURE ON

Raising funds

4,903

Charitable activities

Grants to Institutions

24,558

Total

29,461

Net gains on investments

105,115

NET INCOME

109,244

RECONCILIATION OF FUNDS

Total funds brought forward

1,260,326

TOTAL FUNDS CARRIED FORWARD

1,369,570

9.	FIXED ASSET INVESTMENTS

Listed

investments

£

MARKET VALUE

At 1 August 2024

825,574

Additions

65,540

Disposals

(101,618

)

Revaluations

69,503

At 31 July 2025

858,999

NET BOOK VALUE

At 31 July 2025

858,999

At 31 July 2024

825,574

The investment portfolio is managed by Charles Stanley stockbrokers based in the UK. Within the portfolio held at 31 July 2025 of £858,999 (2024 - £825,574) are assets which are held in overseas companies and investment funds which totalled £160,015 (2024 £153,164)

Cost or valuation at 31 July 2025 is represented by:

Listed

investments

£

Valuation in 2020

31,031

Valuation in 2021

160,711

Valuation in 2022

(94,662

)

Valuation in 2023

(16,634

)

Valuation in 2024

78,558

Valuation in 2025

33,245

Cost

666,750

858,999

10.	INVESTMENT PROPERTY

£

FAIR VALUE

At 1 August 2024

and 31 July 2025

400,000

NET BOOK VALUE

At 31 July 2025

400,000

At 31 July 2024

400,000

11.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Other creditors

564

-

Accrued expenses

1,620

1,542

2,184

1,542

12.	MOVEMENT IN FUNDS

Net

movement

At

At 1.8.24

in funds

31.7.25

£

Unrestricted funds

General fund

1,369,570

78,192

1,447,762

TOTAL FUNDS

1,369,570

78,192

1,447,762

Net movement in funds, included in the above are as follows:

Incoming

Resources

Gains and

Movement

resources

expended

losses

in funds

£

Unrestricted funds

General fund

33,210

(16,767

)

61,749

78,192

TOTAL FUNDS

33,210

(16,767

)

61,749

78,192

Comparatives for movement in funds

Net

movement

At

At 1.8.23

in funds

31.7.24

£

Unrestricted funds

General fund

1,260,326

109,244

1,369,570

TOTAL FUNDS

1,260,326

109,244

1,369,570

Comparative net movement in funds, included in the above are as follows:

Incoming

Resources

Gains and

Movement

resources

expended

losses

in funds

£

Unrestricted funds

General fund

33,590

(29,461

)

105,115

109,244

TOTAL FUNDS

33,590

(29,461

)

105,115

109,244

A current year 12 months and prior year 12 months combined position is as follows:

Net

movement

At

At 1.8.23

in funds

31.7.25

£

Unrestricted funds

General fund

1,260,326

187,436

1,447,762

TOTAL FUNDS

1,260,326

187,436

1,447,762

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming

Resources

Gains and

Movement

resources

expended

losses

in funds

£

Unrestricted funds

General fund

66,800

(46,228

)

166,864

187,436

TOTAL FUNDS

66,800

(46,228

)

166,864

187,436

13.	RELATED PARTY DISCLOSURES

At the Balance sheet date the Trust owed £563.91 to a company owned by Sir Neil Thorne, a trustee, in respect of monies in relation to the maintenance of the investment property. (2024 - nil)