JANES CHARITABLE FOUNDATION ACCOUNTS YEAR ENDED 5 APRIL 2025
|Contents|Page||| |---|---|---| |||(| |Referenceandadministration details|1||| ||||| |Trustees annual report|2|| |Independent examiner’s report|3|| |Statement offinancial activities|4|| ||||| |Balance sheet|5|| |Notes to theaccounts|6-8|'| ||||| ||||| |||i| ||||| |||{| |||i|
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JANES CHARITABLE FOUNDATION REFERENCE AND ADMINISTRATION DETAILS
Registered charity number 1081211 Principal address 21 Bampton Street Tiverton Devon EX16 6AA Trustees Mr D R Glanville Mr P E Glanville Miss S$ J Glanville There shall be at least three trustees. three trustees. trustees. Every future trustee shall be be appointed a special special meeting. Independent examiner Mrs M Hutchings Apsleys 21 Bampton Street Tiverton Devon EX16 6AA Bankers National Westminster plc 11 Fore Street Tiverton Devon EX16 6LW Legal advisers Hole & Pugsley 6 St Peter Street Tiverton Devon EX16 6NX Agents Homefinders 4 High Street Cullompton EX15 IAA
There shall be at least three trustees. three trustees. trustees. Every future trustee shall be be appointed by a resolution of the trustees passed at a special special meeting.
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2 JANES CHARITABLE FOUNDATION TRUSTEES ANNUAL REPORT YEAR ENDED 5 APRIL 2025
pN The Trustees present their annual report and the financial statements of the charity for the year ended 5 April 2025. The trustees have adopted the provisions of the Statement ofRecommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.
Objectives and activities
The Janes Charitable Foundation was set up on 8 March 1999 following a generous gift by the late Mr Stanley Edwin Janes of a number of freehold properties in Tiverton. ,
The objects of the trust are to “promote the education and development of young people living within Devon by facilitating and encouraging communication with visiting and understanding people of other countries and cultures”.
The trust currently owns three freehold properties, numbers 5, 6 and 7 Lodge Road, Tiverton.
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These properties are rented out and the net income generated through rents is then used to distribute grants in accordance with the objects of the trust.
The trustees have had due regard to guidance published by the Charity Commission on public benefit and believe this is achieved via the charity's objectives and activities.
Achievements and performance
All three properties were fully occupied throughout the year. An agent was used to collect rents on the properties.
Grant policy
The trustees will review all grant applications and authorise grants, in accordance with the objectives of the trust.
Financial review
At the end of the year, the trust’s accounts show total funds of £364,160 (2024 £358,652) which the trustees consider to be sufficient to meet the Trust’s obligations.
Reserves policy
The trustees have set reserves aside in a designated fund to cover future maintenance costs of the investmentproperties. A general reserve should be maintained at a level equivalent to the net annual income from investment properties. |
Investment policy
The Trust’s investments are represented by the freehold properties. These have been valued by the trustees as at 5 April 2025.
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Structure, governance and management Type of governing document Trust deed dated 8 March 1999 How the charity is constituted Trust ; Trustee selection method Appointment by the continuing Trustees | This,ceport was approved by the Board on ..2 laes and{si n theiy\bghalf by:
Mr D R Glanville - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE JANES CHARITABLE FOUNDATION
I report to the charity trustees on my examination ofthe accounts of the trust for the year ended 5 April 2024 which are set out on pages4 to 8.
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 ofmy 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 giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 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 war in this “C, order to enable aproperunderstanding ofthe accounts to be reached.
Mrs M Hutchings
Apsleys Chartered Accountants
21 Bampton Street Tiverton
Devon
EX16 6AA
pate: \2(202S
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JANES CHARITABLE FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 5 APRIL 2025
:
| Unrestricted | Endowment. | 2025Total | 2024 Total | 2024 Total | ||
|---|---|---|---|---|---|---|
| Notes | funds | funds | ; | |||
| £ | £ | £ | ' | £ | ||
| Income | ||||||
| Investment income | ||||||
| Rents receivedfrom investmentproperties | properties | 24885 | 24885 | i | 23043 | |
| Interestreceived | 855 | 855 | i | 686 | ||
| Total income | 25740 | - | 25740 | 23729 | ||
| Expenditure | ||||||
| Investmentmanagement costs | 5 | 9180 | 9180 | 8698 | ||
| Charitable activities | 6 | 10500 | 10500 | =; | 10500 | |
| Administration | 7 | 552 | 552, | |||
| Total expenditure | 20232 | - | 20232 | , | 19708 | |
| Net income before transfers | 5508 | - | 5508 | 4021 | ||
| Transfers | - | - | - | ; | - | |
| Netincomes beforegains on revaluation | 5508 | - | 5508 | 4021 | ||
| Gains on investment assets | - | - | - | - | ||
| Netmovement in funds | 5508 | - | 5508 | ‘4021 | ||
| Fundbalancesbroughtforward | 54631 | 300000 | 358652 | 354631 | ||
| Fundbalancescarriedforward | 60139 | 300000 | 364160 | 358652 |
The notes on pages 7 to 9 form part of these accounts
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JANES CHARITABLE FOUNDATION BALANCE SHEET 5 APRIL 2025
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2025 2024
£ £ £ £
Notes
Fixed assets .
Investment properties 2 300000 300000
Current assets
Debtors 3 1011 863
Bank 63699 58339
64710 59202
Current liabilities
Creditors 4 550 550
Net current assets 64160 58652
Net assets 364160 358652
Represented by
Total charity funds
Unrestricted funds
~Designated 8 24634 24634
-Other 39526 34018
64160 58652
Endowment funds (expendable) 9 300000 300000
364160 358652
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The financial statements were approved and authorised for issue by the trustees on . U| le| aes
andD,Ladle
Mr D R Glanville - Trustee
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The notes on pages 7 to 9 form part of these accounts
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6
JANES CHARITABLE FOUNDATION
NOTES TO THE ACCOUNTS
YEAR ENDED 5 APRIL 2025
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1. Accounting policies
a) Basis of preparation
Janes Charitable Foundation is a Charity registered in England within the United Kingdom.
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 ofRecommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 (as updated through Update Bulletin 1 published on 2 February 2016), the Charities Act 2011 and UK Generally Accepted Accounting Practice. | The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest £.
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. '
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b) Income
Rental income from investment properties is accounted for when receivable and recognised gross of any agency charges. |
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c) Expenditure |
All expenditure is accounted for on an accruals basis and includes irrecoverable VAT where applicable. ;
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d) Grants payable
Grants are recognised as expenditure when the commitment is entered into where such a grant is to be paid over instalments. The
outstanding balance is disclosed as a liability.
e) Investment properties :
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each
reporting date with changes in fair value recognised in ‘net gains / (losses) on investments’ in the SoFA. |
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f) Debtors and creditors receivable and payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
g) Cash Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. |
- h) Fund accounting,
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Funds held by the trust are either:
Unrestricted general funds — these are funds which can be used in accordance with the charitable objects at the discretion of the trustees,
Designated funds — these are funds set aside by the trustees out of unrestricted general funds for specific future purposes or projects.
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Endowment fund — this represents assets held permanently by the Charity. Income arising on the endowment fund can be used in
accordance with the objects of the charity and is included as unrestricted income. |
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i) Judgements and key sources of estimation uncertainty '
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The following judgements have been made in the process of applying the above accounting policies that have had the most significant effect on amounts recognised in the financial statements:
Investment properties are revalued by the Trustees annually using open market value. :
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7 JANES CHARITABLE FOUNDATION NOTES TO THE ACCOUNTS YEAR ENDED 5 APRIL 2025
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|2.|Investment properties|2025|2024|
|£|£|
|5|Lodge Road|25546|25546|
|6 Lodge Road|21546|21546|
|7 Lodge Road|29328|29328|
|76420|76420|
|Land|at Lodge Road|transferred|to|Janes|Trust|(10000)|(10000)|
|66420|66420|
|Renovation|work|48377|48377|
|Total|costs|to|date|114797|114797|
|Revaluations|to|date|185203|185203|
|300000|300000|
|The|freehold|investment|properties|were valued by the trustees|at|5|April 2025|on the|basis|of open market|
|value.|
|3.|Debtors|2025|2024|
|£|£|
|Prepayments|1011|863|
|4.|Creditors|2025|2024|
|£|£|
|Trade|creditors|and|accruals|550|550|
|5.|Investment management|costs|2025|2024|
|£|£|
|Agency|fees|3227|2538|
|Repairs|5046|3682|
|Insurance|863|604|
|Light & heat|44|7|
|9180|6831|
|6.|Grants payable|2025|2024|
|£|£|
|Tiverton High|School|2500|2500|
|Heathcoat Primary|School|1500|1500|
|Castle|Primary|School|1500|1500|
|Woodlanders|Preschool|2500:|2500|
|Ashburton|Primary|School|2500|2500|
|.|10500|10500|
|7.|Administration|2025|2024|
|£|£|
|Independent|examier's|fees|for accounts|and examination|552|510|
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JANES CHARITABLE FOUNDATION NOTES TO THE ACCOUNTS YEAR ENDED 5 APRIL 2025
8. Designated funds
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|At6.4.24|Designated|=|Utilised|©|At 5.4.25|
|£|£|£|£|
|Property maintenance|4500|-|-|||4500|
|Cyclical|maintenance|20134|-|-|20134|
|24634|-|-|||24634|
|9.|Expendable endowment|fund|
|At 6.4.24|Added|Revaluation|At|5.4.25|
|£|£|£|
|The|S E|Janes|fund|300000|-|-|300000|
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The S E Janes fund comprises freehold investment properties donated in the year ended 5 April 1999. Income from the properties can be applied for general use.
- Funds
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|10.|Funds|||
|Fund|balances|are|represented|as|follows —|
|Investments|Netassets current.|‘Total|
|£|£|i|£|
|Expendable|endowment|fund|300000|300000|
|Unrestricted|funds|64160|64160|
|300000|64160|364160|
|Trustees|remuneration|and|expenses|
|2025|2024|
|£|£|
|Remuneration|NIL|NIL|
|Expenses|NIL|NIL|
|11.|Related party transactions|
|No related party transactions|in year.|,|
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- Trustees remuneration and expenses
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