Trustees of Thomas Cook Children's Charity to give 'careful consideration' to its future

The charity is facing uncertainty after the Thomas Cook Group, which provides most of its funding, went into compulsory liquidation

Trustees of the Thomas Cook Children’s Charity have said they will give "careful consideration" to its future after the Thomas Cook companies went into liquidation.

A statement from the trustees of the charity, which has given out millions of pounds in grants to good causes in recent years, said its funds were held in trust and the charity was not part of the liquidation procedure affecting the companies in the Thomas Cook Group.

But they said that the Thomas Cook Group and a number of its subsidiaries were the charity’s primary source of funding.

"As such, the trustees must now give careful consideration to the charity’s future," it said.

The statement said it was too early to say whether the charity was likely to close, but trustees had a duty to consider how the liquidation of Thomas Cook would affect its future.

"We would like to assure all concerned that the trustees will continue to carry out the aims and objectives of the charity and honour the promises that were made to our partners, supporters and beneficiaries," the statement said.

"The charity remains committed to improving children’s lives and benefiting the communities in which they live.

"We will also be working closely with the Charity Commission over the coming weeks to ensure that it is kept up to date with decisions that are made."

The statement said the charity was working with the liquidators of the Thomas Cook companies to ensure that any donations due to be paid to the charity would be done so as soon as possible.

It said all funding applications that were awaiting decisions would still be considered but there might be a delay in processing those applications.

It said it "aimed to honour any grants already awarded", but there might also be a short delay in processing them.

The charity said it would remove the application portal from its website "for a short period of time while the trustees decide next steps".

The Thomas Cook Children’s Charity, which was registered with the commission in 2002, gave grants to charities and voluntary groups totalling £3m in the three years to the end of 2017, accounts show.

Its latest annual accounts, for 2017, say it had three main income streams: donations from Thomas Cook customers, the collection of unwanted foreign currency and funds raised by Thomas Cook employees.

The accounts, which say the charity has two employees, say the company also provides "significant logistical support for the management and administrative functions that are required by the charity".

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