NATIONAL ASSOCIATION OF JEWELLERS EDUCATIONAL TRUST
The Trustees present their annual report and financial statements for the year ended 31 December
2023. The financial statements have been prepared in accordance with the accounting policies set out
In the notes lo the financial slatemenls.
Reference & Adminislralwe Information
Charity Registration Number- 1040651
Trustees..
Mr A F Hinds- Chairman
Mr M D Payne
Ms J Clarke
Mr R Comelius
Mr J J M Frampton
Mrs L Hanmore- resigned 141h March 2023
Mr M Saadian- appointed 14th March 2023
Structure Governance and Mana
emenl
The National Associalson of Jewellers Educational Trust (previously named National Association of
Goldsmiths Centenary Trust) is an unincorporated registered charity, established and governed by a
Trust Deed, dated 28th June 1994, and Dèed of Amendment dated 15th May 2017.
Under the terms of the Deed, the Trustees have an absolute discrellon lo pay or apply the Trust Fund
and Income thereof for Ihe benefit of, or in furtherance of any charitable object or purpose as set out in
the Trust Deed.
The Trustees meet at least twice a year lor lo conference call if a physical meeting is not possible) to
discuss policy, administrative and investment matters and lo discuss and approve any grants made by
the Trust.
The Trust Deed provides for a minimum of three and a maximum of fifteen Trustees {unless otherwise
agreed by the Trustees in writing).
Ob-eclives and Activities for the Public Benefit
The objects of the Twsl, as set oul in the TTUSI Deed, is to provide or procure the provision of
scholarships, awards and assistance lowardg training and work expellence opportunities, including
participation in exchange programmes, whether in the UK or abroad. ft)r persons who derive their main
livelihood from the jewellery trade in the UK and financial sUPPOrt ancillary lo any of the above.
The policy of the Trustees is lo assist fi'nancially Ih05e persons whose Circumstances prevent them from
undertaking the educational activities as described above. To carry out this policy Ihe Trust is
dependent upon income Irom its investments and from donations.
The Trustees consKler all applications from suitable indivKluals al their meetings discussing their
suitability and merit and agree those applicants they wish to support.
The TTuslees confirm that they have referred to the guidance contained in the Charlty Commisslon's
general guidance on public benefi't when reviewing the Trust's aims and objectives and in planning
future donations. Each application is considered on its merits and the Trustees also consider the
purposes for which thè application has been made lo confimi that the public benefil requirenknl has
been fulfilled.

Achievements and erformance
The Trust is reliant on Ihe income from its conlribulors and income from investments. The Trust's
income during the year ended 31 December 2023, comprised of voluntary income and investment
income, amounted lo £37,663.
The TrLFStees provide grants lo individuals in furtheran￿ of the Trust's charitable objects. During the
year ended 31 December 2023 grants totalling £15.120 were awarded lo 13 individuals. In addition
£1,436 was awarded lo 7 jewellery students for Tool Kits.
Financial Review
The Trustees report a Surplus for the year of £25,297.
Inv8sfrmenl PolKyand PerfoNnance - It is the TrLtslees' duty lo produce a balanced investment strategy
and the Trustees have sel a policy that surplus funds are invested to maximise the total return on funds
within the constraints of a medium to low risk portfolio. The Trustees seek Ralhbones, investment
managers, lo be the custodians of, and provide investment advice on, the investment portfolio. The
Truslees are satisfied with the overall performance, investment strategy and value of the investment
portfolio.
Risk managemgnt - The Trustees have considered the major risks lo which the Trust is exposed and
have reviewed those risks and established systems and procedures lo manage those risks. The Trust
is not a ftjnctional charity bul a granl-maker, which also reduces the risk.
R8seN8s Polioy - The Trustees have a policy of retaining signift'canl reserves, to ensure that sufficient
funds are held al any one time to cover the likely donations of the next three months and for the
maintenance of the Trust
Plans for Ihe Future
The Trustees intend to continue to distribute the Trust Funds in line with their
objects and are confident that they will be able lo maintain the strength of the Trust as a grant making
charity through sound investment management.
Approved by the Trustees on 10th October 2024 and signed on their behalf by
Mr A F Hinds
Ib-14 CLkk/ Jo? *

NATIONAL ASSOCIATION OF JEWELLERS EDUCATIONAL TRUST
(Charity No. 1040651)
BALANCE SHEET
AS AT 31 DECEMBER 2023
Note
2023
2022
FIXED ASSETS
Investments
352,359.00
336,610.00
CURRENT ASSETS
Cash at Bank.. CAF Bank
NAI - Birmingham
TOTAL CURRENT ASSETS
3,971.22
18,445.39
22,416.61
4,918.05
7,364.49
12,282.54
CREDITORS,, amounts due within one year
Awards not yet taken LIP
Accruals Isecretarial and Indpendent Accountsnts Fees)
7,791.00
540.00
8,331.00
6,605.00
1,140.00
7,745.00
NET CURRENT ASSETS
14,085.61
4,537.54
TOTAL A55ETS
366,444.61
341,147.54
REPRESENTED BY
Surplus Brought Forward as previously reported
341,147.S4
383.037.81
Surplus/lDeficitl for the Year
25,297.07
141,890.27
366,444.61
341,147.54

NATIONAL ASSOCIATION OF JEWELLERS EDUCATIONAL TRUST
(Charity No. 1040651)
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2023
2023
Unrestrlcted
2022
Unrestrlcted
Donations
Subscription5
Other Donations
12,451.23
15,652.50
14,096.99
2,671.00
28,103.73
16,767.99
Income from Investment5
Equity Investments
Unit trust and other interest
Unit trust distributions
2,445.10
7,100.40
9,545.50
762.69
6,813.35
7.576.04
Income from Bank Interest
Interest from CAF Bank Account
13.73
2.05
TOTAL INCOME
37,662.96
24,346.08
EXPENDITURE
Awards for current year
Less: Awards not taken up in 2022
Cost of Toolkits supplied to 7 students
Net Cost of Sllver supplied to Colleges
15,119.75
11,462,501
1,436.40
13,827.00
11,440.001
164.95
12,551.95
15,093.65
Administrative Expenses:
Secretarial and Postal charges
Bank Charges/Just Giving Charge5
Investment management fees
Trustees, Insurance and Expenses
Independent examination fee
irmingham Assay Office Registration
1,621.29
240.00
2,024.81
1,074.45
540.00
3,555.59
297.00
2,125.31
860.77
540.00
192.00
20,122.62
20,594.20
NET INCOME
17,068.76
4,223.46
other recognised gains/{Ios5esl on investments
8,228.31
146,113.731
EXCESS (DEFICIT) OF
INCOME OVER EXPENDITURE
25,297.07
141,890.271

NATIONAL ASSOCIATION OF JEWELLERS EDUCATIONAL TRUST Icharity No. 10406511
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
l. Prlnclpal Accowntlng Pollcles
8&$1s of preparatlon of Inanclal statements
The fillanclal st3tements have been prepared under ihe hlstorKal cost conventlon, with thÈ exceptlon of Inve5tmen15, w*lth are Included at
market value. The Ilnanclal statements have beell prep8red In ac£ordance wlth the StatemEllt of RecomrneDded Practio.. A¢couMtin8 and
Reporilng by Charlties prep?ring thelr ￿￿oUnt$ Ir* 3ccoidantÈ with Ihe Nn3ncial Reportlng St3nd2rd applicable In the UK and Republic of
Irela[￿ IFRS 1021 issued on 16 july 2014 and the Flnamclal Reportlng Standard ippllcable in the Unlted Kiwdom and Republlc of Ireland IFRS
1021 Ind the Charltles Act 2011.
The Erust con5titute5 a p¥bllt ￿nefitentEty asdefined by FRS 102.
b. Income rerognltlLN)
All Income Is reco£ni5ed once the charty entltkmer¢i to the incame. It Is prob3blÈ ihat the Income will bè re￿IVed and the amount of
incornp reteivable can be measured rella￿v-
Donatluns are recognised when the Trust has been notlfled Ill writinK of borh theamount and the settlemenl date.
Intere5r on funds held on depostt Is Inclwded when recelwdble and the amount catt be meèsured rellabty by the charlty, this15 normally upon
notifitatlon of Inierest paid or payable by the b2nk. Divldends are recosnlsed once the dlvldend has ken declared and notlficatlgn ha5 beem
recelved of thedivIde￿ date.
t. EMpe*dlture recotsltlon
Donatlons are recogn15ed In ihe year in whlth ihp.y are approved and such approwal has been communicated io the re￿Pients. È%tept to Ihe
extent that the.y are swbiect to ¢ondlllorns that onab1e the Foufjdation to revoke the award. Ml expemdllure 15 actounted for gn an acuuals
d. Flxed 4ss¢t InYestrnent$
Investments are a form Qf b851c ftnancial INstrumenr are initiall¥ recognised Btthelr tran5?Cllon value and subsp.4￿e.ntIY Me3S￿rEd at thelr
fair value as 81 Ile balaKe Sheet date uslng the c1051n8 qLlOted market prlce. The stateM￿t of linancS81 activities includes Ile let 8ain5 and
losses ari51ng Dll [￿Valuation and dlsposals Ihrovghout the perlod.
. se¢rets￿31 $￿pOrt
Setreiarlal support Is no longer provldÉd by ihe NailoD31 Asso¢la￿On of Jewellers a5 In past years. The Educatlonal Trust 15 now fully
fundingall adm1n15tration from july 2019.

NATIONAL ASSOCIATION OF JEWELLERS EDUCATIONAL TRUST
(Charity No. 1040651)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
2. Flxed asset Investments
20Z3
2022
Market value of investments at l January 2023
Sale proceeds
Additions Ireinvestmentsl
Movement In investment cash account
Investment galnslllossesl
336,610.00
382,273.00
14,327.001
7,495.80
12,718.071
146,113.731
9,479.40
8,228.31
11,958.711
Market Value of investments at 31 December 2023
352,359.OD
336,610.00
Cost at 31 December 2023
385,921.00
378,4CX).00
Market value
at year end
ncomè from
investments for
thèyear
Analysis ol Investments
Investments listÈd on a recognised stock exchange
Cash held a5 part of the Investment portfollo
350,474.57
1.884.43
9,479.40
66.10
Market value of investrnents at 31 December 2023
352 359.00
9 545.50