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← The Jack Lane Charitable Trust

2025-04-05-accounts

Charity registration number 1091675 (England and Wales)

THE JACK LANE CHARITABLE TRUST

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2025

THE JACK LANE CHARITABLE TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr. R White
Mrs. E Walker
Mrs. G Mitchell
Mrs A Neal
Mrs H Morris
Mr W Thorogood (Appointed 13 March 2025)
Charity number 1091675
Principal address Epsilon House
The Square
Gloucester Business Park
Gloucester
Gloucestershire
United Kingdom
GL3 4AD
Independent examiner Katherine Parkin FCA
Epsilon House, The Square
Gloucester Business Park
Brockworth
Gloucester
Gloucestershire
United Kingdom
GL3 4AD
Bankers Lloyds Bank plc
14 Castle Street
Cirencester
Gloucestershire
United Kingdom
GL7 1QJ
Solicitors Forrester, Sylvester, Mackett
59 High Street
Malmesbury
Wiltshire
United Kingdom
SN16 9AH
Investment advisors Rathbones
159 New Bond Street
London
W1S 2UD
United Kingdom

THE JACK LANE CHARITABLE TRUST

CONTENTS

Page
Trustees' report 1 - 3
Independent examiner's report 4
Statement of financial activities 5
Balance sheet 6
Notes to the financial statements 7 - 14

THE JACK LANE CHARITABLE TRUST

TRUSTEES' REPORT FOR THE YEAR ENDED 5 APRIL 2025

The trustees present their annual report and financial statements for the year ended 5 April 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "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).

Objectives and activities

The trustees shall hold the Trust Fund and its income upon trust to apply them for such charitable purposes as the Trustees shall from time to time in their discretion decide within the counties of Gloucestershire and Wiltshire.

The charity supports good causes such as:

Applications are encouraged through word of mouth, local support, media channels and the charity’s own website.

The Trustees look favourably upon applicants such as children, young people, elderly, people with disabilities and other charities and voluntary bodies.

The Chairman’s Discretionary Fund, with authority to make small donations in urgent cases, has not been used during the year.

Trustees follow up grants by visiting various beneficiaries on an ad hoc basis to identify the difference the grant has made to the charities and the wider society.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

The trustees’ appointed investment managers continue to deliver a level of return on capital, thus enabling the Trust to continue to provide financial support to various causes within the counties of Gloucestershire and Wiltshire.

THE JACK LANE CHARITABLE TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

Financial review

The appointed investment managers continued their policy of generating consistent returns, adopting a cautious manner, from the original capital, as demonstrated by the figures contained in the latest accounts. The capital fund has increased by 1.3% during the year. The trustees are in regular contact with the Trust’s investment managers concerning day to day matters which may have an impact on financial markets.

It is the Trustees’ intention to manage, through the charity’s investment advisor, the capital value of the investments in order to maximise income available for distribution.

The total investment fund value at 5 April 2025 was £2,781,960 (2024: £2,746,687) with total free reserves of £2,797,590 (2024: £2,795,539).

Policy on reserves and plans for the future

The trustees’ policy on reserves is to maintain the existing capital fund in real terms, and use the income generated from investments to meet the Trust’s charitable objectives.

Public benefit

The trustees have given consideration to the Charity Commission published guidance on the operation of the Public Benefit requirement.

The trustees are of the opinion that the Trust satisfies the Public Benefit requirement because the objective of the Trust is to support charities of various causes throughout the counties of Gloucestershire and Wiltshire (as detailed under the Objectives and Activities of the Trust).

The trustees confirm that they have complied with the requirements of section 4 of the charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Major risks and management of those risks

The trustees are aware that a fall in global markets could potentially reduce the value of the investments held.

The trustees have identified the operational risks that they believe might affect the charity. Each of the major risks are considered on a regular basis to ensure exposure is minimised.

Structure, governance and management

The charity is an unincorporated charitable trust.

The trustees who served during the year and up to the date of signature of the financial statements were: Mr. R White

Mr. M A Wright (Resigned 10 May 2024) Mrs. E Walker Mrs. G Mitchell Mrs A Neal Mrs H Morris Mr W Thorogood (Appointed 13 March 2025)

The Trust Deed requires that there shall be not less than three Trustees, and that each Trustee shall be appointed for a term of five years.

Trustees shall be appointed by a resolution of the Trustees passed at a special meeting.

The Trust Deed enables the Trustees to permit any investments comprised in the Trust Fund to be held in the name of any clearing bank, any trust corporation or any stockbroking company which is a member of the Stock Exchange (or any subsidiary of such a stockbroking company) as nominee for the Trustees and to pay any such nominees reasonable and proper remuneration for acting as such.

THE JACK LANE CHARITABLE TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

The trustees' report was approved by the Board of Trustees.

Mr. R White Trustee 8 January 2026

Mrs. E Walker Trustee

THE JACK LANE CHARITABLE TRUST

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF THE JACK LANE CHARITABLE TRUST

I report to the trustees on my examination of the financial statements of The Jack Lane Charitable Trust (the charity) for the year ended 5 April 2025.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

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 financial statements to be reached.

Katherine Parkin FCA Azets Audit Services

Epsilon House, The Square Gloucester Business Park Brockworth Gloucester Gloucestershire GL3 4AD

13 January 2026

THE JACK LANE CHARITABLE TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 5 APRIL 2025

Unrestricted Unrestricted
funds funds
2025 2024
Notes £ £
Income from:
Investments 3 64,702 49,375
Total income 64,702 49,375
Expenditure on:
Raising funds 4 12,161 11,481
Charitable activities 5 61,350 56,896
Total expenditure 73,511 68,377
Net gains/(losses) on investments 9 10,410 150,963
Net income and movement in funds 1,601 131,961
Reconciliation of funds:
Fund balances at 6 April 2024 2,795,539 2,663,578
Fund balances at 5 April 2025 2,797,140 2,795,539

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

THE JACK LANE CHARITABLE TRUST

BALANCE SHEET

AS AT 5 APRIL 2025

Notes
Fixed assets
Investments
12
Current assets
Cash at bank and in hand
Creditors: amounts falling due within
one year
14
Net current assets
Total assets less current liabilities
The funds of the charity
Unrestricted funds
15		 2025
£
£
2,781,960
18,600
(3,420)
15,180
2,797,140
2,797,140
2,797,140		 2024
£
£
2,746,687
51,822
(2,970)
48,852
2,795,539
2,795,539
2,795,539		 2024
£
£
2,746,687
51,822
(2,970)
48,852
2,795,539
2,795,539
2,795,539
2,795,539
2,795,539
2,795,539

The financial statements were approved by the trustees on 8 January 2026

Mr. R White Trustee

Mrs. E Walker Trustee

THE JACK LANE CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

1 Accounting policies

Charity information

The Jack Lane Charitable Trust is an unincorporated charity founded by a declaration of trust dated 25 March 2002. Its registered office is Epsilon House, The Square, Gloucester Business Park, Gloucester, GL3 4AD.

1.1 Accounting convention

The accounts have been prepared in accordance with the charity's governing document, the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The accounts have been prepared under the historical cost convention, modified to include the revaluation of certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.3 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Investment income is accounted for in the period in which the charity is entitled to receipt.

1.4 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 is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

In preparing the Statement of Financial Activities, the Trustees have attributed, where readily determinable, the costs between generating funds, charitable activities, and governance costs.

THE JACK LANE CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

1 Accounting policies

(Continued)

Expenditure is included on an accruals basis and is recognised when there is a legal or constructive obligation to pay for expenditure.

The cost of charitable activities comprise of grants and donations made to individuals, societies, schools and other charities.

Support and governance costs comprise of costs for the running of the charity itself as an organisation.

Liabilities and provisions

All known liabilities are provided in the accounts at the balance sheet date. Provisions are included in accordance with FRS 102.

Irrecoverable VAT

Irrecoverable VAT is charged against the expenditure heading for which it was incurred.

1.5 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year.

1.6 Cash and cash equivalents

Cash and cash equivalents 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in net income/(expenditure), except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through income and expenditure, are assessed for indicators of impairment at each reporting date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected.

If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in net income/(expenditure) for the year.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in net income/(expenditure) for the year.

THE JACK LANE CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

1 Accounting policies

(Continued)

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the charity transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.7 Taxation

The charity is exempt from corporation tax on income and gains falling within section 505 of the Taxes Act 1988 or section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to the charitable objects.

1.8 Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

THE JACK LANE CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2025

3 Investments

**Unrestricted ** Unrestricted
funds funds
2025 2024
£ £
Income from UK investments 46,993 40,748
Income from overseas investments 13,364 7,549
Interest receivable 4,345 1,078
64,702 49,375

4 Raising funds

**Unrestricted ** Unrestricted
funds funds
2025 2024
£ £
Investment management 12,161 11,481
12,161 11,481

5 Expenditure on charitable activities

Heading Heading
#ac982 #ac982
2025 2024
£ £
Direct costs
Staff costs 2,500 2,505
Cost of trustee meetings 725 783
Printing, postage & stationery - 34
Administrative fees - 684
Independent Examiner's remuneration 4,963 3,090
Indemnity insurance 1,028 890
Sundry expenses 764 770
9,980 8,756
Grant funding of activities (see note 6) 51,370 48,140
61,350 56,896
Analysis by fund
Unrestricted funds 61,350 56,896

THE JACK LANE CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

5 Expenditure on charitable activities

(Continued)

Governance costs totalling £4,752 (2024: £3,090) are included within expenditure on charitable activities.

Independent Examiner's remuneration includes £1,956 (2024: £1,670) payable to the Independent Examiner for Independent Examination, £2,796 (2024: £942) payable in respect of other accountancy and advisory services provided and £211 (2024: £Nil) in respect of payroll services provided.

6 Grants payable

Grants to institutions:
The Harbour Project
Wings for Warriors
Gympanzees
James Hopkins Trust
Julian House
Sailability
Sight Support West of England
Southmead Project
Uplands School
Wiltshire Search & Rescue
Silverwood School
The Inspire Foundation
Read with Me
Home-Start Stroud
Other		 2025
£
-
-
-
-
-
-
-
-
-
-
2,000
2,000
1,400
1,400
44,570
51,370		 2024
£
2,000
1,500
2,000
2,000
2,000
1,400
1,500
2,000
2,000
2,000
-
-
-
-
36,250
48,140

7 Trustees

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.

The aggregate amount of expenses reimbursed to Trustees during the year was £Nil (2024: £Nil).

8 Employees

The average monthly number of employees during the year was:

2025 2024
Number Number
Total 1 1

THE JACK LANE CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

8 Employees (Continued)
Employment costs 2025 2024
£ £
Wages and salaries 2,500 2,505

There were no employees whose annual remuneration was more than £60,000.

9 Gains and losses on investments

Unrestricted Unrestricted
funds funds
2025 2024
Gains/(losses) arising on: £ £
Revaluation of investments 13,112 155,004
Sale of investments (2,702) (4,041)
10,410 150,963

10 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

11 Indemnity insurance

The charity paid an insurance premium of £1,028 (2024: £890) to indemnify trustees against claims arising from any negligent act, error or omission in good faith.

THE JACK LANE CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2025

12 Fixed asset investments

UK
investments
Overseas
investments
£
£
Cost or valuation
At 6 April 2024
1,618,474
1,128,213
Additions
402,789
30,046
Valuation changes
29,649
(16,537)
Disposals
(375,191)
(35,483)
At 5 April 2025
1,675,721
1,106,239
Carrying amount
At 05 April 2025
1,675,721
1,106,239
At 05 April 2024
1,618,474
1,128,213
13
Financial instruments
2025
£
Carrying amount of financial assets
Equity instruments measured at valuation
2,781,960
14
Creditors: amounts falling due within one year
2025
£
Accruals and deferred income
3,420		 Total
£
2,746,687
432,835
13,112
(410,674)
2,781,960
2,781,960
2,746,687
2024
£
2,746,687
2024
£
2,970

15 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

General funds
Previous year:
General funds		 At 6 April
2024
Incoming
resources
Resources
expended
Gains and
losses
£
£
£
£
2,795,539
64,702
(73,511)
10,410
At 6 April
2023
Incoming
resources
Resources
expended
Gains and
losses
£
£
£
£
2,663,578
49,375
(68,377)
150,963		 At 5 April
2025
£
2,797,140
At 5 April
2024
£
2,795,539

THE JACK LANE CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

16 Related party transactions

There were no disclosable related party transactions during the year (2024- none).