JAMES WILLIAMS TRUST
Trustees’ Annual Report & Accounting Statement For the year ended 30 September 2022
The trust was established by Deed of Trust dated 30 July 1990. It is registered with the Charity Commissioners as Charity No. 1000451
OFFICERS AND ADVISORS
The Trustees during the year were: -
S J Burt Treasurer K Bounds Chairman G M Curtis Secretary R Young Resigned 19[th] November 2021 A McGhee
Exisiting trustees are responsible for the nomination and appointment of future trustees.
The correspondance address is: -
20 Fields Park Road Newport NP20 5BA
Bankers: HSBC plc 1 Bridge Street Newport Solicitors: Everett, Tomlin, Lloyd & Pratt 28 Stow Hill Newport Investment Managers: CCLA Investment Management Ltd Senator House, 85 Queen Victoria Street, London EC4V 4ET.
Independent Examiner Mrs F Reynolds
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CHARITY COMMISSION FOR El>L AND WAIES Independent examiners report on th accounts Report to the tnlee51 rnember5 of Jame5 Wiknarr6 Trust On accounts for the year ended 30 Sept 2(r22 1 LW51 (if any Set out on paoes I rewrt to the trustees on ry Lx8n¥nation of the aCcOts of the above charity 1.the Trust") for the year ended 30 Sept 2022 Re5pon571 )ilities and ba515 of rewt As the tharrty"s trustees. you 9 responsOSe for the preparation of Ihe accounts in acCcd8nce with the reqUern of Charrts Ac 2011 rthe Acr). I rewrt in reskcI of my ex8min8ticrf of the Trusl's accounts carried out UTher section 145 of the 2011 Act and in c8rrying out my &Y8min8bon. I have folk¢wÈd all the applicab Oire¢bcxis grven by the Ch8rty Comnms uTrJer seclion 145(SXb) of bbe Aca. Intrndent tl havè CCffiF4eted my examin8tKffl I ccfflfimi IhAt no MAtla1 matter5 ha examinerfs ststement come to my gttent•on in connection with the examination Which give5 Me Cause to believe that m. any mgterial respect the acc¥JuntirwJ rerdS rboi kept in 8ccordarKY with 5ectiDn 1 of the chanti Act. the ace4)unts did not acc)rd with 8cojunb.ng records,. or the accUnts did not e4ynpty vthth the applicable requirements conr£rnirwJ the form and contertt of accounts set out in the Ch8 (Acuunts Repcrfts) Regulatic5 2008 other than any require Ihat the accwnts give 8 'lnJe and fair v•ew vknich is not 8 matter I ha no concerns have come 8cross no other mattèrs in conne ith the 8¥abOn to whith attention should be drawn in this rèport order to enaNe 3 prw underst8ndina of 8ccount5 to be reached - Pfea8e delete wM18 fft the brnc*ets rf they do not apply. Date: 7 Juty 2023 Name: F1# Reynolds Relevant FYoles5ional qualificationl5) or body AddTes5: 93 Pen Y Ore. Cardiff. CF14 8EL IER Oct 2018
TRUSTEES’ REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2022
The trust is established with the purpose of advancing the Christian faith in any part of the world.
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The trustees have continued to maintain their policy of making mainly regular grants to individuals or charities in furtherance of the objective.
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Additional grants are given as investment returns allow.
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The Trust Fund is not a permanent endowment in that either capital or income may be applied by the trustees to the objective. As such there is no obligation to maintain a reserve balance or to manage the fund in such a way as to ensure its continuing operation.
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The trustees seek a level of income distributions protected for inflation, together with some growth in funds enabling grants to be made to capital projects from time to time. The trustees choose to avoid investments concentrated on armaments, betting and gaming.
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The market value of the Trust (Cash & Investments) decreased by 3.8% (net of donations) during the year. The estimated gross yield on the portfolio was £40,057 (2021: £39,705).
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The investment with CCLA Investment Management Ltd is on a unit basis and is split between Ethical Investment, Property and Fixed Interest Funds along with cash on deposit at the discretion of the Trustees. This approach is designed to ensure that day to day investment decisions are free of any trustee interference or bias.
I declare, in my capacity as charity trustee, that:
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The trustees have approved the report above; and
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Have authorised me to sign it on their behalf.
Signature:
Full Name: Stephen Burt
Position: Treasurer
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Date.. 7 July 2023
JAMES WILLIAMS TRUST
| Statement of Financial Activities for the year ended 30 September | Statement of Financial Activities for the year ended 30 September | Statement of Financial Activities for the year ended 30 September | Statement of Financial Activities for the year ended 30 September |
|---|---|---|---|
| 2022 | 2021 | ||
| Incoming Resources | |||
| Donations | - | - | |
| Investment Income | |||
| Distributions from funds | 39,844 | 39,355 | |
| Net | Bank Interest (Gross) / (Charges) | (46) | - |
| Total Incoming Resources | 39,798 | 39,355 | |
| Resources Expended | |||
| Grants and Donations (Note 9) | (46,250) | (42,500) | |
| Net Incoming/(Outgoing) Resources | (6,452) | (3,145) | |
| Gains / (Losses) on | revaluation & | (47,546) | 118,135 |
| disposal of Investment Assets | |||
| Net movement in funds | (53,998) | 114,990 | |
| Total funds brought forward | 1,258,59 | 1,143,60 | |
| 8 | 8 | ||
| Total funds carried forward | 1,204,60 | 1,258,59 | |
| 0 | 8 | ||
| Balance Sheet at 30 September | |||
| 2022 | 2021 | ||
| Investments (Note 5) | 1,193,52 | 1,241,071 | |
| 6 | |||
| Cash at Bank | 11,074 | 17,527 | |
| Net Assets | 1,204,60 | 1,258,59 | |
| 0 | 8 | ||
| Unrestricted Funds | 1,204,60 | 1,258,59 | |
| 0 | 8 | ||
| Total Funds | 1,204,60 | 1,258,59 | |
| 0 | 8 | ||
| Signed by Trustees: | Date: 7thJuly 2023 |
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JAMES WILLIAMS TRUST
Notes to the accounts for the year ended 30 September 2022
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1a. The accounts have been prepared under the historical cost convention and on an accruals basis in accordance with Accounting and Reporting by Charities – Statement of Recommended Practice (SORP 2000) and the Charities Act 1993.
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1b. The investment with CCLA is included at market value. The original cost of the investments at 30 September 2022 was £665,339 (2021: £665,339).
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No fees were paid to the independent examiner either for scrutiny of the accounts or for any other services.
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No remuneration or expenses are payable to the trustees or any other individual.
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The trust has no tangible or intangible fixed assets other than the investments shown. No money is owed to or by the trust at the end of the year.
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Analysis of Investments held at year end: £ Market Value at beginning of year 1,241,071 Net gain / (loss) on revaluation & disposal (47,546) Market value at end of year 1,193,526 Investments held in unit trusts or other collective Investment scheme 1,193,526 Total 1,193,526
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All assets within the fund are unrestricted.
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The trust has no undisclosed liabilities at the end of the year.
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During the year the Trustees have had due regard for the Charity Commission’s guidance on public benefit.
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All institutions or individuals supported are engaged in work which is in accordance with the objectives of the Trust. The trustees by personal contact or written enquiry confirm on at least an annual basis that they continue to carry out such work. Where they cease to be able to put the grant towards work which is in accordance with the objectives of the Trust then support is discontinued.
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JAMES WILLIAMS TRUST
Notes to the accounts for the year ended 30 September 2022 (cont.)
- Grants made during the year have been analysed on a functional basis (as defined in the SORP) and are further analysed below:
----- Start of picture text -----
Name Purpose No. of Value
Grant Paid
s
Grants to Institutions £
Ainon Baptist Church, Building Work 1 5,000
Tongwynlais
UCCF Personal Support of Welsh Workers 4 4,100
Woodcroft Centre General Funds 2 3,500
Mentur Ysgolion Personal Support of Schools 2 1,700
Workers
Hope Church Rhondda General Funds 2 1,700
Rwandan Orphans General Funds 3 2.200
Concern Cymru General Funds (Christian 2 1,100
Counselling)
Pioneers Personal Support for D Bhakiaraj 2 1,100
Rural Ministries General Funds 3 1,900
Good News for General Funds (Mid Glam & 2 1,100
Everyone (formerly Newport)
Gideons)
ICE Wales Personal Support of Schools Worker 2 1,100
Message Trust Wales Personal Support for E Mayor 1 550
Advance Cymru Personal Support for Interns 1 1,000
Bursaries
The Cardiff Nativity General Funds 1 500
Story
Aberystwyth CU General Funds 1 500
Blaina Evangelical General Funds 1 500
Church
Royal Welsh Show General Funds 1 250
Work
27,80
0
Grants to Individuals
G Pegler Personal Support 2 1,100
D Mayor Personal Support 2 1,700
M Thomas Personal Support 2 1,700
P & W Scott Personal Support 3 1,950
J Harris Personal Support 2 1,700
D Hankey Personal Support 2 1,700
F & W Babawi Personal Support 2 1,700
S Harris Personal Support 2 1,100
P & A Dodds Personal Support 2 1,100
A Davies Personal Support 2 1,100
S Loader Personal Support 2 1,100
L David Personal Support 2 1,100
A Summerhayes Personal Support 1 550
P Hodge Personal Support 2 850
----- End of picture text -----
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Total Grants and Donations