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Charity number: 1003312

Jack Foats Trust

Trustees' report and financial statements

For the year ended 5 April 2025

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Jack Foats Trust

		Page
				;
Reference and administrative details ofthe Charity, its Trustees and advisers		1
Trustees’ report		2-4
Independentexaminer's report		5	:
Statementoffinancial activities	.	6
Balance sheet		7
Notes to the financial statements	; °	8-15

. . .

Jack Foats Trust

	JackFoatsTrust
	Jack Foats Trust															,
					;
	Reference and administrative details ofthe			Charity, its		Trustees and		advisers						:				.
	Fortheyearended 5Apri!	2025						—
																		,
	Trustees	lan S Chandler
		Janine M Vallack (deceased 21 August2025)
		AndrewWilkinson																	;
		Gary Laslett
	Charity registered			;
	number	1003312				.
	Principatoffice	The Poplars
		Lower Goldstone
	‘	Ash									-
		Canterbury				‘	;						.
		Kent —
		CT3 2DT
	Accountants.	Kreston ReevesLLP							.
	.	Chartered Accountants													.
		37 St Margaret's Street					.					.
		Canterbury				.
		Kent
		CT1 2TU
	Bankers	CAF Bank
		-25 Kings Hill Avenue					.									.
	.	Kings Hill				‘				.										,
		West Malling
		Kent
		ME19 4JD	.				‘
	Solicitors	Williamson &Barnes 12-14 Queen Street			’			,
		Dea!
		Kent
,		CT14 6EU						,
	Managing Agent	N Rooke BA, MSc,		MRICS		.
	;	Amos Dawton & Finn						.
		1 King Street
		Sandwich
		Kent						‘
		CT13 9BY
	Independent Examiner	MKR DyerACAMAAT
		Kreston Reeves LLP						,
		37 St Margaret's Street
	:	Canterbury
		Kent
	.	CTi 2TU				'
	;				Page1		—										;

Jack Foats Trust

por

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Trustees’ report ; ; For the year ended 5 April 2025 . . The Trustees present their annual report together with the financial statements. of the Charity for the year 6 April 2024 to 5 April 2025. ; ; Objectives and activities a. Policies and objectives a .

The objects of the Trust are such charitable purposes for the benefit of the parish of Ash as the Trustees in their absolute discretion think fit. . In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance ‘Public benefit: running a charity (PB2)'. ot ,

b. Activities undertaken to achieve objectives

The first form Annual report, for 1996-97, summarised the story of the Trust since its inception in 1989. This year, as in previous years, this report deals primary with the Trust's activities during the year.

Achievements and performance:

)

a. Review of activities

' "The Trust has again been pleased to provide funding to Cartwright and Kelsey School, for help in upgrading some ‘in class' IT equipment, and the production of a History Wall by pupils and staff.

The Trust continues to maintain it's properties and land, and has supported the Parish Church with an ongoing grant to help maintain the Parish Burial Ground. . b. Investment policy and and performance . . The Trust, having undergone a review of investments, and in light, of a large cash injection, engaged a professional advisor to advise and monitor a now substantial investment portfolio. :

; b. Investment policy and and performance

The Trustees investment policy is to keep enough in cash to meet their present and anticipated commitments and, subject to that, to invest their endowment to produce a regular and increasing income stream.

To this end the Trust aim to keep 12 months expenditure in reserve, estimated to be approximately £60,000.

Financial review ,

a. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

b. Reserves policy

The Trustees have reviewed the Trust's needs for reserves in line with the guidance issued by the Charity Commission, and against the Trust's present and likely future income, net of expenditure on it's fixed functional assets and administrative expenses. .

Page 2

Jack Foats Trust

;

Trustees’ report (continued)

;

For the year ended 5 April 2025

c. Results for the year

The Charity has achieved a deficit for the year of £55,639 (2024: surplus of £22,841), before gains on investments totalling £27,382 (2024: £73,536) and gains on investment properties totalling £1,037,755 (2024: ENil). .

) Income totalled to £82,773 (2024: £70,954), and was all in the form of investment income.

Expenditure meanwhile amounted to £138,412 (2024: £48,113), with legal and professional fees totalling £86,603 (2024: E£Nil) relating to the sale of an investment property. Grants paid during the year totalled £19,708 (2024: £24,878).

;

At the Balance sheet date the Trust holds £3,816,380 (2024: £2,806,882) of reserves, all of which are held in unrestricted general funds: The Trust's free reserves, total to £1,323,974. (2024: £529,613) at the end of the financial year.

Structure, governance and management

a. Constitution

Jack Foats Trust is a registered charity, number 1003312, and is constituted under a Trust deed. The Trust was registered with the Charity Commission on 26th June 1991. ~

b. Methods of appointment or election of Trustees

The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed. :

c. Risk management

. that systems and ,

The Trustees have assessed the major risks to which the Charity is exposed, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.

Plans for future periods

To support, within reason, any suitable project for the benefit of the Parish that is properly presented to the Trust.

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Page 3

Jack Foats Trust

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Trustees’ report (continued)

For the year ended 5 April 2025

Statement of Trustees' responsibilities

The Trustees are responsible for preparing the Trustees’ report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these - financial statements, the Trustees are required to:

° select suitable accounting policies and then apply them consistently; , ° observe the methods and principles of the Charities SORP (FRS 102);
° make judgments and accounting estimates that are reasonable and prudent;
° state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
e prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for ~ safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. :

Approved by order of the members of the board of Trustees and signed on their behalf by:

lan S Chandler

Trustee - Date: y} | 98°

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Page 4

2 December 2025

Jack Foats Trust

Statement of financial activities

’

For the year ended 5 April 2025 .

				Unrestricted	Unrestricted	Total		Total
					funds	funds		funds
					2025	2025		2024
			Note		£	£		£
	Income from:
	Investments		4		82,773	82,773		70,954
	Total income				82,773	82,773		70,954
	Expenditure on:
	Charitable activities		6		138,412	138,412		48,113
.	Total expenditure				138,412	138,412		48,113	©
	Net (expenditure)/income	before netgains on
	investments				(55,639)	(55,639)		22,841
	Net gains oninvestments	.		-	27,382	27,382		73,536
	Netmovement infunds before otherrecognised			———qK
	gains/(losses)				(28,257)	(28,257)		96,377
	Other recognised gains/(losses):
	Gains on revaluation ofinvestment property				4,037,755	1,037,755		-
	Net movement in funds				1,009,498	1,009,498		96,377
	Reconciliation offunds:						.
	Total funds broughtforward				2,806,882	2,806,882		2,710,505
	Net movement in funds				1,009,498	1,009,498		96,377
	Totalfundscarriedforward		,		3,816,380	3,816,380		2,806,882

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 8 to 15 form part of these financial statements.

Page 6

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								:
	Jack Foats Trust
									,
	Balance sheet			.
	As at 5 April 2025	;										:
									2025			2024
			Note						£			£
	Fixed assets
												;
	Tangible assets		8						141,755			391,755
	Investments		10				;		1,115,151			1,087,769
	Investment property		9						1,235,500		‘	797,745
						;			2,492,406			2,277,269
	Current assets
	Cashatbank and in	hand						1,326,448			531,947
	Creditors: amounts falling due within one
.	year		11					(2,474)	.		(2,334)
		—
	Net current assets							;	1,323,974			529,613
	Total net assets				.				3,816,380	'		2,806,882
	Charityfunds
	Unrestricted funds		12						3,816,380			2,806,882
	Totalfunds								3,816,380			2,806,882	.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

lan S Chandler Trustee Date: 14 | | a ;

The notes on pages 8 to 15 form part of these financial statements.

Page 7

Jack Foats Trust °

: .

Notes to the financial statements For the year ended 5 April 2025

General information

The Charity is an unincorporated charity, registered in England and Wales, with the charity number 1003312. The Charity's registered office is The Poplars, Lower Goldstone, Ash, Canterbury, CT3 2DT, The principal objectives of the Charity areas set out in the Trustees Report on page 2.

mo

2. Accounting policies

‘

)

‘ ,

. 2.1 Basis of preparation of financial statements

;

The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. ‘

The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair’ view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

‘Jack Foats Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

The financial statements are presented in UK sterling, which is the Charity’s functional currency, and rounded to the nearest pound,

2.2 Going concern

;

The Trustees assess whether the use of going concer is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the Charity to continue as a going concern. The. Trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements and have concluded that the Charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the Charity's ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the. financial statements.

' 2.3 Income

; . All income is recognised once the Charity has entitlement to the income, it is probable. that the income will be received and the amount of income receivable can be measured reliably.

. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

2.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs. .

; Page 8

Jack Foats Trust

Notes to the financial statements

ended 5 April 2025 ; policies (continued) : Expenditure (continued) . Grants payable are charged in the year when the offer is made except in those cases where the offer ~ is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure. All expenditure is inclusive of irrecoverable VAT. Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom whom the funds are deposited. Tangible fixed assets and depreciation Tangible fixed assets fixed assets assets are initially recognised recognised at cost. cost. After recognition, recognition, under the cost model, the cost model, cost model, model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement measurement of cost. cost. . At each reporting date the Charity assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount. Depreciation is provided at rates calculated to write off the cost of, fixed fixed assets, less their estimated residual value, over their their expected useful lives on the following bases: Freehold property - The properties are not depreciated as the Trustees believe the value of the property is , worth significantly more than is stated in the accounts ,

For the year ended 5 April 2025

2. Accounting policies (continued)

2.4 Expenditure (continued)

2.5 Interest receivable

: Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom whom the funds are deposited.

2.6 Tangible fixed assets and depreciation

. Tangible fixed assets fixed assets assets are initially recognised recognised at cost. cost. After recognition, recognition, under the cost model, the cost model, cost model, model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement measurement of cost. cost. .

At each reporting date the Charity assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value . less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount. Depreciation is provided at rates calculated to write off the cost of, fixed fixed assets, less their estimated residual value, over their their expected useful lives on the following bases:

;

2.7 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities.

° 2.8 Investment property

Investment property is classified as property held for capital appreciation or to generate rental income. Investment property is initially valued at cost and then subsequently measured at fair value at the reporting date. Investment property gains or losses are combined and presented as 'Gains on revaluation of investment property’ in the Statement of financial activities.

2.9 Cash at bank and inhand

" Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or Jess from the date of acquisition or opening of the deposit or similar account.

Page 9

Jack Foats Trust

Notes to the financial statements For the year ended 5 April 2025

2. Accounting policies (continued)

2.10 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

)

‘ 2.11 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.12 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Investment income, gains and losses are allocated to the appropriate fund.

3. Critical accounting estimates and areas of judgment

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The Charity does not currently have any significant’accounting estimates or areas of judgement. :

Investment income

			Unrestricted	Unrestricted	Total	Total
				funds	funds	funds
				2025	2025	2024
				£	£	£
Income from investment properties				35,782	35,782	32,915
Dividends receivable				36,937	36,937	28,518
Interest receivable		;		10,054	10,054	9,521
			*	82,773	82,773	70,954
Total 2024	;			70,954	70,954

Total 2024

Page 10

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Jack Foats Trust

Notes to the financial statements For the year ended 5 April 2025

5. Analysis of grants

			Grants to	_—_Grants to"	_—_Grants to"		Total		Total
			Institutions	Individuals			funds		funds
			2025	.	2025		2025		2024
			£		£		£		£
Grants forcharitable projects			19,708		-		19,708		24,878
Total 2024			18,838		6,040		24,878	.
TheCharityhasmade thefollowing		material	grants to institutionsduring theyear:
					.				‘ As restated
							2025		2024
		;	.		,		£		£
Name of institution
Kent County Council			.				-		11,000
			,
Ash Heritage Group							3,115		-
Ash Cricket Club							-		3,098
Parochial Church	Council		.				-		4,740
Ash Cartwrightand Kelsey PrimarySchool		School					16,593		-
							19,708		18,838
							19,708		18,838.
Analysis of expenditure byactivities
									;
	.		M'mentand						oo,
			admin. of		Grant
	:		Investment properties	funding of activities			Total funds		Total funds
	.		2025		2025	.	2025		2024
			£		£		£		£
Charitable activities		,	118,704		19,708		138,412		48,113
Total2024	:		23,235		24,878		48,113

6. Analysis of expenditure by activities

Page 11 |

Jack Foats Trust

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Notes to the financial statements , For the year ended 5 April 2025

6. Analysis of expenditure by activities (continued)

‘Analysts of direct costs

‘Analysts of directdirect costs											:
			.			Activities		Total funds		.	Total funds
							2025	2025			2024
							£	£			£
Maintenance							22,426	22,426			13,916
Insurance			.				2,057	2,057			1,855
Rentand rates						:	210	210	.		221
Independent examiner's fees							2,474	2,474			2,334
Bank charges	,			;			60	60			61
Agents commission and fees							4,874	4,874			4,848
Legaland professional fees		.			.		86,603	86,603			7
							118,704	118,704			23,235
Total2024							23,235	23,235

7. Trustees’ remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2024 - £NIL). During the year ended 5 April 2025, no Trustee expenses have been incurred (2024 - £NIL).

8. Tangible fixed assets

Tangible fixed assets
.								Freehold
	.							property
		,						£
Cost orvaluation					'
At6 April 2024						,		391,755
Transfers between classes				.				(250,000)
At5 April 2025								141,755
Net book value
At 5 April 2025			‘				-	141,755
At5April2024								391,755

During the period, one of the properties was re-classified from Tangible Fixed Assets to Investment properties, as it is currently held to generate rental income. The re-classification was recognised as a transfer in the financial statements. .

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Page 12

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Jack Foats Trust

Notes to the financial statements For the year ended 5 April 2025

For the year endedthe year ended	For the year endedthe year endedyear endedended 5 April 2025
		,
9.	Investment property					°		.	an
											Shortterm
	:											leasehold
											investment
			‘				;					property
										;		£
	Valuation
	At6 April 2024				.							797,745
	Disposals			,			.					(77,245)
	Surplus on revaluation											265,000
	Transfers between classes										_	250,000
	At5April2025											1,235,500

During the year, the Trust carried out an 'in house' review of investment property values and concluded - that the cottages have a value of £920,000.

50%,of the future development value of land sold from The Crest is dependent on the land being sold, and is held at £500. .

- 10. Fixed asset investments

						"Listed
			.			investments
						£
				,
"Cost or valuation		:
At 6 April 2024						1,087,769
Revaluations						27,382
At5 April 2025						1,115,151
Netbookvalue	oo
At 5 April 2025						1,115,151
At 5April2024					:	1,087,769

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. Page 13

Jack Foats Trust

Notes to the financial statements For the year ended 5 April 2025

11. Creditors: Amounts falling due within one year

Accruals


2025	-	2024
£:		£
2,474		2,334

12. Statement of funds

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;

			,
Statement offunds -currentyear					;
Balance at 6				Gains/	Balance at 5
April] 2024		Income	Expenditure	(Losses)		April 2025
	£	£	£	£		£
Unrestricted funds
General Funds	2,806,882	82,773	(138,412)	1,065,137		3,816,380
Statement offunds -prioryear				7
Balance at				Gains/		Balance at
6	April 2023	Income	Expenditure	(Losses)	5	April 2024
	£	£	£	£		£
Unrestricted funds
GeneralFunds	2,710,505	.70,954	(48,113)	73,536		2,806,882

Statement of funds - prior year

13. Analysis of net assets between funds

	Analysis of net assetsnet assetsassets	Analysis of net assetsnet assetsassets	between fundsfunds				,
	Analysis of netassets		between funds -currentyear
			,
		.		Unrestricted			Total
					funds	.	funds,
			.		2025		2025
					£		£
’
	Tangible fixed	assets		.	* 141,755		141,755
	Fixed asset investments				1,115,151		41,115,151
	Investment property				1,235,500		1,235,500
	Currentassets				1,326,448		1,326,448
	Creditors due within oneyear		year		(2,474)		(2,474)
	Total	,			3,816,380		3,816,380

Page 14

Jack Foats Trust

Notes to the financial statements

For the year ended 5 April 2025

13. Analysis of net assets between funds (continued)

Analysis of net assets between funds- prior year

;			Unrestricted		Total
>			funds	,	funds
			2024		2024
			£		£
Tangible fixed assets			391,755		391,755
Fixed asset investments			1,087,769	1,087,769
Investmentproperty	,	;	797,745		797,745
Current assets			531,947		531,947
Creditors duewithin one year			(2,334)		(2,334)
Total			2,806,882	2,806,882

; Total

14. Related party transactions

The Charity has not undertaken any related party transactions during the financial year (2024: £Nil) and at the Balance sheet date there are no balances outstanding with them (2024: £Nil).

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Page 15

2025-04-05-accounts

Jack Foats Trust

Contents

Jack Foats Trust

b. Activities undertaken to achieve objectives

Achievements and performance:

a. Going concern

b. Reserves policy

Trustees’ report (continued)

c. Results for the year

Structure, governance and management

a. Constitution

b. Methods of appointment or election of Trustees

c. Risk management

Plans for future periods

Trustees’ report (continued)

Statement of Trustees' responsibilities

2 December 2025

Jack Foats Trust

Statement of financial activities

mo

2. Accounting policies

. 2.1 Basis of preparation of financial statements

2.2 Going concern

' 2.3 Income

2.4 Expenditure

For the year ended 5 April 2025

2. Accounting policies (continued)

2.4 Expenditure (continued)

2.5 Interest receivable

2.6 Tangible fixed assets and depreciation

° 2.8 Investment property

2.9 Cash at bank and inhand

2. Accounting policies (continued)

2.10 Liabilities and provisions

2.12 Fund accounting

3. Critical accounting estimates and areas of judgment

Jack Foats Trust

5. Analysis of grants

6. Analysis of expenditure by activities

Jack Foats Trust

6. Analysis of expenditure by activities (continued)

‘Analysts of direct costs

7. Trustees’ remuneration and expenses

8. Tangible fixed assets

Jack Foats Trust

- 10. Fixed asset investments

11. Creditors: Amounts falling due within one year

Accruals

12. Statement of funds

Statement of funds - prior year

13. Analysis of net assets between funds

Jack Foats Trust

Notes to the financial statements

13. Analysis of net assets between funds (continued)

14. Related party transactions