THE J P MARLAND CHARITABLE TRUST
TRUSTEES' REPORT AND UNAUDITED ACCOUNTS
FOR THE YEAR ENDED 1 OCTOBER 2023
Charity Number: 1049350
THE J P MARLAND CHARITABLE TRUST CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 1 OCTOBER 2023
| Page | |
|---|---|
| Trustees' Report | 1 to 2 |
| Legal and Administrative Information | 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 to 11 |
THE J P MARLAND CHARITABLE TRUST TRUSTEES' REPORT
FOR THE YEAR ENDED 1 OCTOBER 2023
The trustees present their report and accounts for the year ended 1 October 2023.
The accounts have been prepared in accordance with the accounting policies set out in Note 1 to the accounts and comply with the charity's governing document, applicable law, and the requirements of the Charities SORP 2019 (FRS 102) and the Charities Act 2011.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The charity was established by a charitable trust deed on 6 September 1995 by Lord Marland and is registered with the Charity Commission for England and Wales (charity number 1049350).
TRUSTEES
The trustees shown below have served during the whole of the period from 2 October 2022 to the date of this report.
Lord Marland of Odstock (Chairman) Carol Law Marcus Marland Hugo Marland
RECRUITMENT AND APPOINTMENT OF NEW TRUSTEES
New trustees are recruited and appointed by Lord Marland as and when vacancies arise. No outside party can appoint trustees.
ORGANISATIONAL STRUCTURE
Lord Marland manages the day-to-day administration of the charity. The trustees meet as required.
RISK MANAGEMENT
The trustees are responsible for identifying and reviewing the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable safeguards against fraud and error.
OBJECTIVES AND ACTIVITIES
The charity's objects are to make donations to charitable institutions or individuals which are considered by the trustees to be worthy causes. The trustees remain committed to making donations to those charities that they consider to be of value and assistance to their particular field of expertise.
Public Benefit
The trustees confirm that they have complied with the duty in s17(5) of the Charities Act 2011 to have due regard to the Charity Commission's guidance on public benefit, including 'Public Benefit: Reporting' [PB3]. As all donations are made to UK registered charities and Worldwide charities, the trustees believe that The J P Marland Charitable Trust is acting for the benefit of the public.
ACHIEVEMENTS, PERFORMANCE AND FINANCIAL REVIEW
The results for the year and financial position of the charity are shown in the attached financial statements.
Donations of £38,084 (2022: £25,470) were received during the year of which £38,084 (2022: £25,470) was donated by Lord Marland and £Nil (2022: £Nil) by other donors, together with reclaimable Gift Aid of £9,611 (2022: £6,390). During the year, investment income of £Nil (2022: £Nil) was also received.
Grants totalling £70,852 (2022: £39,325), were paid out to various charitable institutions during the year.
The cash position at the end of the year was £23,092 (2022: £14,133).
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FOR THE YEAR ENDED 1 OCTOBER 2023
THE J P MARLAND CHARITABLE TRUST TRUSTEES' REPORT
ACHIEVEMENTS, PERFORMANCE AND FINANCIAL REVIEW (continued)
The trustees pursue a policy of distributing the charity's income by way of donations within the scope of the net resources of the charity, with any surplus being added to reserves.
Reserves Policy
The trustees' policy on the funding of reserves is based upon the Charity Commission document CC19 and therefore recognises the need to hold reserves in order to deal with adverse changes in the levels of income and expenditure in future years. At the year end, total unrestricted funds amounted to £802,530 (2022: £814,815) of which £802,530 (2022: £794,441) related to free reserves. Included in these figures are unrestricted investments held of £791,618 (2022: £779,546) which could be realised if circumstance ever required.
Investment Policy
The investment policy is decided upon by the trustees, in accordance with the terms of the governing document. The trustees have delegated day-to-day responsibility for investments to Handelsbanken Wealth & Asset Management. The investments are held to achieve long-term capital growth, with ad hoc withdrawls made as and when required by the trustees in accordance with the charity's objectives.
ON BEHALF OF THE BOARD OF TRUSTEES:
Lord Marland of Odstock
Trustee
29 July 2024
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THE J P MARLAND CHARITABLE TRUST LEGAL AND ADMINISTRATIVE INFORMATION
FOR THE YEAR ENDED 1 OCTOBER 2023
| Date of Trust | 6 September 1995 |
|---|---|
| Trustees | Lord Marland of Odstock |
| Carol Law | |
| Marcus Marland | |
| Hugo Marland | |
| Charity Number | 1049350 |
| Principal Address | 78 Belgrave Road |
| London | |
| SW1V 2BJ | |
| Independent Examiner | Nicholas JonesFCCA |
| Fawcetts LLP | |
| Chartered Accountants | |
| Windover House | |
| St. Ann Street | |
| Salisbury | |
| SP1 2DR | |
| Bankers | Handelsbanken |
| 2 London Road Office Park | |
| London Road | |
| Salisbury | |
| SP1 3HP | |
| Investment Advisors | Handelsbanken Wealth & Asset Management |
| No. 1 Kingsway | |
| London | |
| WC2B 6AN |
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
THE J P MARLAND CHARITABLE TRUST
I report to the charity trustees on my examination of the accounts of The J P Marland Charitable Trust for the year ended 1 October 2023, which comprise the Statement of Financial Activities, the Balance Sheet and the related notes.
Responsibilities and basis of report
As the charity’s trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and, in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in any material respect:
-
Accounting records were not kept in respect of the charity as required by section 130 of the Act; or
-
The accounts do not accord with those records; or
-
The accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulation 2008 other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Nicholas Jones FCCA Fawcetts LLP Chartered Accountants Windover House St. Ann Street Salisbury SP1 2DR
30 July 2024
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THE J P MARLAND CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 1 OCTOBER 2023
| Note INCOME AND ENDOWMENTS FROM: 2 3 Raising funds 5 Charitable activities Grants payable 4 Governance costs 5 Net gains/(losses) on investments OTHER RECOGNISED GAINS/(LOSSES): Gains/(losses) on revaluation of investments RECONCILIATION OF FUNDS: Total funds carried forward at 1 October 2023 EXPENDITURE ON: Total funds brought forward at 2 October 2022 Investments Total expenditure NET MOVEMENT IN FUNDS Donations and legacies Total income Investment managers' fees NET EXPENDITURE |
2023 2022 Unrestricted Unrestricted Total Total £ £ 47,695 31,860 - - 47,695 31,860 1,000 810 70,852 39,325 1,200 1,230 73,052 41,365 23 (1,463) (25,334) (10,968) 13,049 (107,664) (12,285) (118,632) 814,815 933,447 802,530 814,815 |
|---|---|
There were no other recognised gains or losses other than those stated above.
The notes form part of these financial statements
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THE J P MARLAND CHARITABLE TRUST BALANCE SHEET
1 OCTOBER 2023
| Note FIXED ASSETS Investments 8 CURRENT ASSETS Debtors 9 Cash at bank and in hand CREDITORS: AMOUNTS DUE WITHIN ONE YEAR 10 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 11 NET ASSETS FUNDS Unrestricted funds TOTAL CHARITY FUNDS |
2023 £ 791,618 9,520 23,092 32,612 19,700 12,912 804,530 2,000 802,530 802,530 802,530 |
2022 £ 799,920 6,367 14,133 |
|---|---|---|
| 20,500 2,605 |
||
| 17,895 817,815 3,000 |
||
| 814,815 | ||
| 814,815 | ||
| 814,815 |
The financial statements were approved and authorised for issue by the Board of Trustees on 29 July 2024 and were signed on its behalf by:
Lord Marland of Odstock
Trustee
The notes form part of these financial statements
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THE J P MARLAND CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 1 OCTOBER 2023
1. ACCOUNTING POLICIES
1.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 United Kingdom and Republic of Ireland (FRS 102) effective 1 January 2019, the Charities Act 2011 and UK Generally Accepted Accounting Practice.
The charity does not meet the definition of a larger charity under the Charities SORP and is therefore exempt from the requirement to prepare a cash flow statement.
The financial statements are prepared on a going concern basis. The financial statements are prepared in Sterling (£) which is the functional currency of the charity.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
1.2 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.
1.3 INCOMING RESOURCES
All incoming resources are included in the Statement of Financial Activities (SOFA) when the Trust is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably, and it is probable that the income will be received.
1.4 RESOURCES EXPENDED
Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under the headings that aggregate all costs related to the category.
Grants payable are payments made to third parties in furtherance of the charitable objects of the Trust. The grants are accounted for where the trustees have agreed to pay the grant without condition and the recipient has a reasonable expectation that they will receive a grant.
Governance costs consist of costs not directly attributable to direct charitable expenditure, but which are in respect of the general administration of the charity and overall management of the funds.
1.5 INVESTMENTS
Fixed asset investments are stated at market value at the balance sheet date. The Statement of Financial Activities includes the net gains and losses arising on revaluations and disposals throughout the year.
Unrealised gains and losses are recognised in the Statement of Financial Activities. Realised gains are the difference between disposal proceeds and carrying value and are recognised in the Statement of Financial Activities under gains and losses on investments.
1.6 TAXATION
The charity is exempt from corporation tax on its charitable activities.
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THE J P MARLAND CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 1 OCTOBER 2023
2. DONATIONS AND LEGACIES
| Donations Gift Aid receivable 3. INCOME FROM INVESTMENTS Interest receivable 4. GRANTS PAYABLE Grants to institutions: The Roche Court Educational Trust British Sports Book Award Dorset Natural History and Archaeological Society Wiltshire Creative Jewish-Arab Community Centre in Akko Alabare Christian Care & Support Bronek Masojada Chain Appeal The Normandy Memorial Trust Marland Residential School Super Power Agency The Guggenheim UK Charitable Trust Other Donations £1,000 or less (2023: 8, 2022: 6) Mountview Academy Bob Willis Fund St John's Church, Kensal Green - The Queen's Platinum Jubilee Rose Windows The Holburne Museum Arts Community / Nature / Teaching Medical |
2023 £ 38,084 9,611 47,695 2023 £ - 2023 £ 4,000 6,000 12,000 5,000 5,000 4,000 5,000 2,500 15,000 - 7,000 5,352 - - - - 70,852 2023 £ 18,850 52,002 - 70,852 |
2022 £ 25,470 6,390 |
|---|---|---|
| 31,860 | ||
| 2022 £ - |
||
| 2022 £ - - - - - - - - - 3,000 5,200 5,225 12,500 2,400 6,000 5,000 |
||
| 39,325 | ||
| 2022 £ 20,700 18,625 - |
||
| 39,325 |
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THE J P MARLAND CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 1 OCTOBER 2023
5. TOTAL EXPENDITURE
| Raising funds: Investment managers' fees Charitable activities: Grants payable Governance costs Independent examiner's fee |
Total 2023 £ 1,000 70,852 1,200 73,052 |
Total 2022 £ 810 39,325 1,230 |
|---|---|---|
| 41,365 |
6. TRUSTEES
None of the trustees (or any persons connected with them) neither received nor waived any remuneration during the year and none of them were reimbursed any expenses (2022: None).
The charity considers its key management personnel comprise the trustees. Key management personnel are not remunerated.
7. EMPLOYEES
There were no employees during the year (2022: None) and consequently there were no staff costs for the year ended 1 October 2023 nor for the year ended 1 October 2022.
8. FIXED ASSET INVESTMENTS
| Market value at 2 October 2022 Disposals at carrying value Acquisitions at cost Change in value Market value at 1 October 2023 Historical Cost At 1 October 2023 At 1 October 2022 |
Quoted 779,546 (977) - 13,049 791,618 598,661 599,420 |
Unquoted 20,374 (20,374) - - - - 38,624 |
Total 799,920 (21,351) - 13,049 |
|---|---|---|---|
| 791,618 | |||
| 598,661 | |||
| 638,044 |
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THE J P MARLAND CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 1 OCTOBER 2023
9. DEBTORS
| Gift Aid receivable 10. CREDITORS: AMOUNTS FALLING WITHIN ONE YEAR Accruals Accruals for grants payable 11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Accruals for grants payable 12. ALLOCATION OF THE CHARITY NET ASSETS The net assets are held as unrestricted funds: Fixed Assets £ Unrestricted funds 791,618 Total 791,618 Fixed Assets £ Unrestricted funds 799,920 Total 799,920 Prior year net assets held for the various funds were as follows: |
Net Current Assets £ 12,912 12,912 Net Current Assets £ 17,895 17,895 |
2023 £ 9,520 9,520 2023 £ 1,700 18,000 19,700 2023 £ 2,000 2,000 Creditors more than one year £ (2,000) (2,000) Creditors more than one year £ (3,000) (3,000) |
2022 £ 6,367 |
|---|---|---|---|
| 6,367 | |||
| 2022 £ 1,605 1,000 |
|||
| 2,605 | |||
| 2022 £ 3,000 |
|||
| 3,000 | |||
| Total £ 802,530 |
|||
| 802,530 | |||
| Total £ 814,815 |
|||
| 814,815 |
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THE J P MARLAND CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 1 OCTOBER 2023
13. RELATED PARTY TRANSACTIONS
Lord Marland donated £38,084 during the year (2022: £25,470) to The J P Marland Charitable Trust.
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