REGISTERED CHARITY NUMBER: 1083421 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMEKrs FOR THE YEAR ENDED 5 APRIL 2024 FOR ELIZABETH JACKSON CHARITABLE TRUST LDP Luckmans Chartered Accountsnts 1110 Elllott Court Herald Avenue Coventry Business Park Cov8nty West Midlands CV5 6UB
ELIZABETH JACKSON CHARITABLE TRUST CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 5 Aprll 2024 Page Report of the Trustsos 1 to 2 Independènt Examlner's Report Statsment ol Flnanclal Acllvltl•8 Balanu Shoet Notss to the Flnanclal Slatements 6 to 10
ELIZABETH JACKSON CHARITABLE TRUST REPORT OF THE TRUSTEES for the year ended S April 2024 The tnjstees present their report with the financial ststements of the charity for the year ended S April 2024. The trustees havo adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charitiès preparing their accounts in accordance with the Financial Reporting Standard applicabl8 in the UK and Republic of Ireland IFRS 1021 {effective 1 January 20191. Constitution and Objects The Elizabeth Jackson Charitable Trust was creatéd under the Will of the late Miss Elizabeth Laura Jackson who died on 10 May 1999. The main activity of the Charity. as determined by the Will dated 24 September 1998, Is to make grants for such charitable purposes as the Trustees shall in their discretion think fit using both income and capital. Th8 Trusteès have powers lo accumulate income for a period of enty one yèars from 10 May 1999 and to treat this income as arising in the Ihen current year. Organi8ation The Trustees who have served during th8 ygar are shown below. Meetings are held annually lo conslder grant applications although grants can be made beeen meetings. OBJECTIVES AND ACTIVITIES Public beneflt The Trusl8es have revlewed Ihe level of public benefit provided by the Charity and a satisfied that it fulfills the conditions sel out in the guidance provided by the Charity Commission. Grantmaklng Charitabl8 request5 from the area where Miss Jackson Iiv8d, Barslon and Gr8at Rollrfght. are giv8n special consideration as ar8 requests whlch relate to the Settloffs known PreferenS. FINANCIAL REVIEW Flnanclal posltlon There are no r8Striclions on the Charity's pow8r lo Invest. Funds are invested to provide capital growth as w811 as income and the investment position 15 reviewed six monthly wllh the investment managers. During the year the investments produced Income of £49,452 12023 £46,818). Grants of £95,655 were paid by the Charity {2023- £13,500}. Reserves pollcy The Charity's policy is lo preserve capltal for the purpose of generating income from which grants are made. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document The charity is controlled by its goveming document. a deed of trust and constitutes 8n unlncorporated charity, Risk management The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems are in place to mitigate our exposure to the major risks. Page 1
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INDEPENDETr EXAMINER'S REPORT TO THE TRUSTEES OF ELIZABETH JACKSON CHARITABLE TRUST Independenl examinerfs report to th8 trustees of Elizabeth Jackson Charitable Trust I report to the charity trustees on my examination of the accounts of Elizabeth Jackson Charitable Tnjst (the Trust} for the year ended 5 April 2024. Responsibilities and basis of report As the charity trustees of the Trust you are responsible for the preparation of thè accounts in accordance with the requirements of the Charities Act 2011 {'the Act'l. I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145{5}Ib) of the Act. Independent examinerfs slatement I have completed my examination. I confirm that no material matters have come to my attention in connecllon with the examination giwng me cause to believe that in any material respect- accounting records were not kept in respect of the Trust as requId by Section 130 of th8 Act,. or the accounts do not accord with those records; or the accounts do not comply with the applicable requirements concerning the fom and conlenl of accounts sel out in th8 Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a tru8 and fair view which is not a matter considered as part of an independent examination. I have no concems and have come across no other mattets In connection with the examination to which attention should drawn in this report in order lo enable a prop8r und8rslanding of the accounts to be reached. M D Spafford LDP Luckmans Chartered Accountants 1110 Elliott Court Herald Avènue Cov6ntry Business Park Coventry Wesl Midlands CV5 6U8 Date.. ,It7o fé7rtuAy,.2Oir, Page 3
ELIZABETH JACKSON CHARITABLE TRUST STATEMENT OF FINANCIAL ACTivrriES for the year ènded 5 April 2024 2024 Unrestricted fund 2023 Total funds Notes INCOME AND ENDOWMENTS FROM Investment income 49,452 46,819 EXPENDITURE ON Raising funds 9,095 9,916 Charitablè activities Grant making 95,655 13,500 Other 2,132 1.851 Total 106.882 25,267 Net galnsl(losses) on Investments (25.228) 1107,285) NEf INCOMEI{EXPENDrruRE) (82,658) (85,713) RECONCILIATION OF FUNDS Total funds brought forward 1,221,818 1.307,531 TOTAL FUNDS CARRIED FORWARD 1,139,160 1,221,818 The notes form part of these financial ststements Page 4
S Aprl 2024 21T24 Utyestrtclod Totsl I.079.12 1.114,570 G1 at hnk 109,217 tslllTrJ on• (1.101 (1.989) 107.248 1,139,1&) 1221.818 1,139.180 1.221,818 05 1.139,180 1221.818 TOTAL FIP4D3 1,1.160 1321,818 The flnandal stalemonts woré apNl ty thé Pthrd of TN81w 18•d fty tvAJo .ff¢o4.44rty... ,&.¥.... Ind w•rn ¥luned on ty. Seel
ELIZABETH JACKSON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS for the year ended 5 April 2024 ACCOUNTING POLICIES Basis of preparing the financial statements The Charity constitutes a public benefit entity as defined by FRS102. The financial statements have been prepared in accordan with Accounting and Reporting by Charities: Statement Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Repoiknng Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 2019), Financial Reporting Standard 102. the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland, and the Charities Act 2011, and UK Generally Accepted Accounting Practice. Thé financial ststements have been prepared to give a 'tru6 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 vièw.. This departure has involved following the Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accoidance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 issued on 16 July 2014 rather than the Accounting and Reporting by Charities.. Statem8nt of Recomm8nded Practice effective from 1 April 2005 which has slnce been withdrawn. The financial statements are prepad on a going concem basis under the historical cost convention, modified to include certain items at fair value. The financial statements ar8 presented in sterling whlch is the funclional currency of the charity and rounded to the nearest pound. In¢om• Investment income is accounted for In the perlod in which the Charity Is entitled to the receipt. Expendlture Expenditure on govèrnanc8 costs includes all accountancy, management and Investment charges and other general administration costs. Expenditure is accounted for on an accruals basis as a liability is incurred. Grants offered subject lo conditions which have not been met al the year end date are noted as a comrnitment but not accrued as 8xp8nditure. Taxation The charity Is exempt from tax on its tharitable activities. Fund accountlng Fund balances including capital are unrestricted funds which arè avallable for use at the di5cr6tion of the Trustèes in furtherance of the general objectives of the Charity. Investments Investments are stated al rnark8t 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. Grant making policy Policy is as slated in th8 Trust88s Report. Liability is e0gniSed once all the Trustees have agreed to Page 6 continued...
ELIZABETH JACKSON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 5 April 2024 INVESTMENT INCOME Incomé is derived from investrnents only,. there is no trading actlvity. All income is pawj gross. RAISING FUNDS Investment management costs 2024 2023 Portfolio management 9,095 9,765 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees. remuneration or other benefits for the year ended 5 April 2024 nor for the year ended 5 April 2023. Trustoes. expenses There were no tNstees' expenses paid for the year end8d 5 April 2024 nor for th8 year ended 5 April 2023. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestrlcted fund INCOME AND ENDOWMENTS FROM Investment income 46.819 EXPENDITURE ON Raising funds 9,916 Charltabl• actlvltlos Grant making 13,500 Other 1,851 Total 25,267 Nel gainslllosses) on investments (107,265) NET INCOMEI{EXPENDITURE) {85,713) RECONCIUATION OF FUNDS Total funds brought forward 1,307.531 TOTAL FUNDS CARRIED FORWARD 1,221,818 Page 7 onlinued...
ELIZABETH JACKSON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended S April 2024 FIXED ASSET INVESTMENTS Listed investments MARKET VALUE At 6 April 2023 Additions Disposals Revaluations 1,114,570 165.812 (176,597) 124,353) At 5 April 2024 1,079,432 NET BOOK VALUE At 5 April 2024 1.079,432 At 5 April 2023 1,114,570 Cost or valuation at 5 April 2024 is r8pr8S8nted by.. Listsd Investments Cost 1,079,432 Investments have been taken into these accounts at market value. The inv8Stm8nts compris8 UK and overseas shar88 and bonds and gov8rnm8nt stocks. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other debtors Prepayments 24,000 203 24.000 24,203 24,000 Page 8 continued...
ELIZABETH JACKSON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 5 Aprll 2024 CREDITORS: AMOUNTS FALLING DUE wrrHIN ONE YEAR 2024 2023 Other creditors 1.101 1,969 MOVEMENT IN FUNDS Net movement in ndS At 5.4.24 At 6.4.23 Unrestricted funds General fund 1,221,818 (82,6581 1.139,160 TOTAL FUNDS 1,221,818 {82,6581 1,139,160 Net movement in funds. included in the above are as follows.. Incoming resour$ Resourcas expended Gains and losses Movement in funds Unrestricted funds General fund 49,452 1106,882) (25,2281 (82,658) TOTAL FUNDS 49.452 1106,882) (25.2281 (82,658) Comparatlves for movement In funds Net movement in funds At 5.4.23 Al 6.4.22 Unrestrlcted funds General fund 1,307,531 (85,713) 1,221,818 TOTAL FUNDS 1,307,531 185,713) 1,221,818 Comparative net movement in fvnds, included in the above are as follows: Incoming resources Resource5 expended Gains and losses Movement in funds Unrestricted fund8 General fund 46,819 {25,267) (107.265) {85.713) TOTAL FUNDS 46,819 {25,267) (107.265) (85.713) Page 9 continued...
ELIZABETH JACKSON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS . continued for the year anded 5 Aprll 2024 MOVEMENT IN FUNDS - continued A current year 12 months and prior year 12 months combined position is as follows.. Nét movement in funds At 5.4.24 At 6.4.22 Unrestrlcted funds General fund 1,307,531 1168.371) 1.139.160 TOTAL FUNDS 1,307,531 1168,371) 1,139,160 A current year 12 months and prior year 12 months comblned net movement in funds, included in the aljove are as follows: Incoming resourcès Resour$ expended Gains and losses Movement in funds Unrestrfcted funds General fund 96,271 {132,1491 1132,4931 (168,371) TOTAL FUNDS 96,271 (132,1491 1132,4931 (168,371) 10. RELATED PARTY DISCLOSURES Included in Other Debtors is an amount of £24,000 12023.. £24,000) which was loaned to one of th8 Trustees, personal compani8s. No remuneration directly or Sndirecdy out of the funds of the Charlty was pald or Is payable for the y88r to any Trustee or lo any other person connected with any of them. No reimbursement of expenses has been made or is due to be made to any of the Trustees in respect of the year. 11. ULTIMATE CONTROLLING PARTY The Charity is contro118d by the Trustees as disclosed on the Truste8s' report Ipage 2). Page 10