JAMES WILLIAMS TRUST
Trustees’ Annual Report & Accounting Statement For the year ended 30 September 2023
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 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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(HARITY COMMISSION FOR ENGLAND ANO WALES Independent examiner's report on accounts Seclion A Ind•p•nd•nt Examin•fs Report Report to the tru5teesl members of James Williams Trust On accounts for the year ended 30 Sept 2023 Charity no {if any) 1000451 Set out on pages 3-6 I report to the Irustees orb my examination of the accounts of the aLK)v chaw {Ihe Trusf) for the year ended 30 Sept 2023 Responsibilities and basis of report As the charty's truslees. you are responsible for the preparalion ofth accounts in accordance with Ihe requirements of the Chanlies Act 201 {Ihe Acr) I report in respect of my examination of the Trust's accounts carried o under section 145 of the 2011 Act and in carrying oul my examination. have followed all the applicable Directs'ons given by the Charty Comm under section 145(5)(D) of the Acl. Independent [1 have completed my examinalion. I confimi mat no material matters examlnerfs statement come to my attenlion in connection wilh the examination which gives cause to believe Inal In, any malenal respect-. the accounting records were not kept In accordan wrth sectio of the Chanties Act, or the accounls did nol accora wrtn ine accounting records.. or the accounls did nol comply with the applicable requirements conceming the form and content of accounts set out in the Cha (Accounls and Reports) Regulations 2008 other than any requi that the accounts give a 'true and fair view which is not a matte considered as part of an inderEndent examination_ I have no concems and have come across no other matters in con with the examinalion lo which attention should be Jrawn in this rep order to enable a proper unaerslan¢Ying of the accounls to be reach Please delete the words in the brackets if they do not apply. Date: 21 June 2024 Signed: Name: Fiona Reynolds Relevant professional qualification{s) or body (if any): ICAEW Address: 93 Pen Y Dre, Cardtff. CF14 6EL IER Oct 2018
TRUSTEES’ REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2023
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. 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 3.1% (net of donations) during the year. The estimated gross yield on the portfolio was £40,047 (2022: £40,057).
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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 Date: 21 June 2024
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JAMES WILLIAMS TRUST
Statement of Financial Activities for the year ended 30 September
| Incoming Resources Donations Investment Income Distributions from funds Net Bank Interest (Gross) / (Charges) Total Incoming Resources Resources Expended Grants and Donations (Note 9) Net Incoming/(Outgoing) Resources Gains / (Losses) on revaluation & disposal of Investment Assets Net movement in funds Total funds brought forward Total funds carried forward Balance Sheet at 30 September Investments (Note 5) Cash at Bank Net Assets Unrestricted Funds Total Funds Signed by Trustees: Date: 21stJune 2024 |
2023 2022 - - 40,063 39,844 (51) (46) |
|---|---|
| 40,012 39,798 (40,800) (46,250) |
|
| (788) (6,452) (36,576) (47,546) |
|
| (37,364) (53,998) |
|
| 1,204,600 1,258,598 |
|
| 1,167,236 1,204,600 |
|
| 2023 2022 1,156,950 1,193,526 10,286 11,074 |
|
| 1,167,236 1,204,600 |
|
| 1,167,236 1,204,600 |
|
| 1,167,236 1,204,600 |
|
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JAMES WILLIAMS TRUST
Notes to the accounts for the year ended 30 September 2023
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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 2023 was £665,339 (2022: £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.
| 4. | The trust has no tangible or intangible fixed assets other than the investments | The trust has no tangible or intangible fixed assets other than the investments | 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. | |||
| 5. | Analysis of Investments held at year end: | £ | |
| Market Value at beginning of year | 1,193,526 | ||
| Net gain / (loss) on revaluation & disposal | (36,576) | ||
| Market value at end of year | 1,156,950 | ||
| Investments held in unit trusts or other collective | |||
| Investment scheme | 1,156,950 | ||
| Total | 1,156,950 |
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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.
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 2023 (cont.)
- Grants made during the year have been analysed on a functional basis (as defined in the SORP) and are further analysed below:
| Name | Purpose | No. of Grants |
Value Paid |
Value Paid |
|||||
|---|---|---|---|---|---|---|---|---|---|
| Grants to Institutions | £ | ||||||||
| UCCF | Personal Support of Welsh Workers | 4 | 4,150 | ||||||
| Woodcroft Centre | General Funds | 2 | 3,500 | ||||||
| Mentur Ysgolion | Personal Support of Schools Workers | 2 | 2,300 | ||||||
| Rural Ministries | General Funds | 2 | 2,300 | ||||||
| Hope Church Rhondda | General Funds | 3 | 2,300 | ||||||
| Rwandan Orphans | General Funds | 2 | 1,800 | ||||||
| Grace Church | Personal Support for J&L Edwards | 1 | 1,500 | ||||||
| Concern Cymru | General Funds(Christian Counselling) | 2 | 1,150 | ||||||
| Pioneers | Personal Support D Bhakiaraj | 2 | 1,150 | ||||||
| Good News for Everyone (formerly Gideons) |
General Funds (Mid Glam & Newport) | 2 | 1,150 | ||||||
| ICE Wales | Personal Support of Schools Worker | 2 | 1,150 | ||||||
| Message Trust Wales | Personal Support for E Mayor | 2 | 1,150 | ||||||
| Advance Cymru Bursaries | Personal Support for Interns | 1 | 1,000 | ||||||
| 24,600 | |||||||||
| Grants to Individuals | |||||||||
| D Hankey | Personal Support | 2 | 2,300 | ||||||
| D Mayor | Personal Support | 2 | 1,800 | ||||||
| M Thomas | Personal Support | 2 | 1,800 | ||||||
| P & W Scott | Personal Support | 2 | 1,800 | ||||||
| J Harris | Personal Support | 2 | 1,800 | ||||||
| L David | Personal Support | 2 | 1,350 | ||||||
| F & W Babawi | Personal Support | 2 | 1,150 | ||||||
| S Harris | Personal Support | 2 | 1,150 | ||||||
| P & A Dodds | Personal Support | 2 | 1,150 | ||||||
| S Loader | Personal Support | 2 | 1,150 | ||||||
| A Davies | Personal Support | 2 | 750 | ||||||
| 16,200 | |||||||||
| Total Grants and Donations | 40,800 |
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