**REGISTERED COMPANY NUMBER: 04482726 (England and Wales) REGISTERED CHARITY NUMBER: 1094719**
**Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 July 2025 for**
## **S J P CHARITY TRUST LIMITED**
(A Company Limited by Guarantee)
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## **S J P Charity Trust Limited**
**Contents of the Financial Statements for the year ended 31 July 2025**
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|Report of the Trustees|Pages 1 - 2|
|---|---|
|Independent Examiner’s report|Page 3|
|Statement of Financial Activities|Page 4|
|Balance Sheet|Page 5|
|Notes to the Financial Statements|Pages 6 - 8|
## **S J P CHARITY TRUST LIMITED**
## **Report of the Trustees for the year ended 31 July 2025**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 July 2025. The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) “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 2015).
## **Objectives and activities**
## **Objectives and aims**
S J P Charity Trust Ltd is established to advance public education in, and appreciation of, music and the arts and for such Charitable purposes or for the benefit of such charitable foundations as shall be determined from time to time by the trustees.
S J P Charity Trust was incorporated in 2002 to manage the annual music festival “Proms at St Jude’s”, a week in Summer of Classical and Jazz concerts that was originally established in 1993. Until that incorporation, management of the festival was the responsibility of The Organising Committee of The Proms at St Jude’s, an unincorporated association. The aims of the incorporated entity remain the same as those of its unincorporated predecessor, being firstly the promotion of music,
literary and education events through the festival, and secondly, to the extent that festival income exceeds costs, to provide grants for charitable purposes or for Charitable foundations as determined by the trustees.
## **Public benefit**
The trustees have paid due regard to guidance issued by the Charity Commission on Public Benefit **Volunteers**
The Charity does not employ any staff and instead relies on approximately 200 volunteers to make all of its work possible.
## **Achievement and performance**
## **Charitable activities**
The 2025 Proms at St Jude’s festival was its 33rd year, and it again proved very successful. The festival has continued to generate interest from sponsors, advertisers, donors and friends alike, and the trustees were able to put together a programme of very high calibre.
Annual income at £280,679 exceeded costs by £62,905 before charitable grants of £65,000. The trustees have awarded charitable grants to Toynbee Hall (£48,750) and to The North London Hospice (£16,250).
## **Financial review**
## **Financial position**
After payment of the grants referred to above, outgoings exceeded income by £2,095. Reserves carried forward to the 2025/2026 year stand at £45,558.
## **Reserves policy**
The primary purpose of the festival is to raise money for the two charities we support, Toynbee Hall and the North London Hospice.
It has been the policy of the trustees that, as far as is reasonable, the excess of income over expenditure in any given year should be paid over to the beneficiary institutions supported by the charity. With no fixed overheads and no employees or other cost commitments, the trustees aim to have sufficient funds in hand after all liabilities have been settled for each year's festival to give them confidence to commence planning for the following year. The trustees constantly review reserves policy, and currently aim to keep reserves at a minimum of £40,000.
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## **S J P CHARITY TRUST LIMITED**
## **Report of the Trustees for the year ended 31 July 2025 (cont.)**
The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities whilst consideration is given to ways in which additional funds may be raised in order to continue putting on the festival and to maintain support for the beneficiary institutions.
## **Structure, governance and management**
## **Governing document**
The Charity is a private company limited by guarantee in the amount of £1 per member. It has been operated in accordance with the Memorandum and Articles of Association of the company dated 16 May 2002. The company was itself formally incorporated on 11 July 2002, and was entered into the Central Register of Charities on 21 November 2002.
## **Induction and training of new trustees**
The Board of Trustees operates a policy of actively pursuing opportunities for the recruitment and training of new trustees when they arise.
## **Risk management**
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The trustees are responsible for reviewing the major risks to which the charity is exposed and for establishing systems and procedures to manage those risks. The trustees review and document risks in order to mitigate these in the future. The trustees have also taken steps to ensure, as far as possible, compliance with GDPR (General Data Protection Regulation).
## **Reference and administrative details**
Registered Company number 04482726 (England and Wales) Registered Charity number 1094719 Registered office 39 Norrice Lea London N2 0RD
## **Trustees**
Mrs K M Webster (Chairman) Mrs S C Gregson (CEO) Mrs J M Lewis Mrs R Cohen Mrs M Groves Ms N O’Donnell- Keenan Mr R A Finlay Dr T B Isaacs Mrs H C Shrader Mr A Ghaffari Mrs A Kollar Mr G Cohen (Hon Treasurer and Company Secretary) appointed 1 August 2024 Mr S R M Tesh (Hon Treasurer and Company Secretary) resigned 1 August 2024
**Independent examiner:** Keith Graham FCA, Cooper Parry, 5th Floor Broadwalk House, 5 Appold Street, London EC2A 2AG
The Report has been prepared having taken advantage of the small companies’ exemption from audit contained in section 477 of the Companies Act 2006.
Approved by order of the board of trustees on 13 February 2026 and signed on its behalf by:
Mrs K M Webster Trustee
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## S J **P CHARITY TRUST LIMITED**
## **Independent Examiner's Report to the Trustees of S J P Charity Trust Limited**
## **Independent examiner's report to the trustees of S J P Charity Trust Limited (‘the Company’)** .
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 July 2025.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
The company’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of The Institute of Chartered Accountants in England and Wales. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
4. the accounts have not been prepared in accordance with the Charities SORP (FRS 102).
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.
Keith Graham FCA Cooper Parry 5th Floor Broadwalk House 5 Appold Street London EC2A 2AG 13 February 2026
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## **S JP CHARITY TRUST LIMITED Statement of Financial Activities**
( **Incorporating an Income and Expenditure Account)**
## **for the year ended 31 July 2025**
**2025 2024**
|Notes
Income and endowments from
Charitable activities
2
Investment income
3
**Total income**
Expenditure on Charitable activities
5
Net income/(deficit)
Transfer between funds
Net movement in funds
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**funds**
**£**
272,610
1,069
273,679
256,042
17,637
(19,732)
**(2,095)**
**47,653**
**45,558**|**Restricted**
**funds**
**£**
7,000
**-**
7,000
26,732
(19,732)
19,732
**-**
**-**
**-**|**Total**
**£**
279,610
1,069
280,679
282,774
(2,095)
-
**(2,095)**
47,653
**45,558**|**£**
272,862
1,218|
|---|---|---|---|---|
|||||274,080|
|||||273,480|
|||||600
-|
|||||**600**
47,053|
|||||**47,653**|
## C **ontinuing operations**
All income and expenditure have arisen from continuing activities. There were no restricted funds in 2024.
The attached notes form part of these financial statements
Page 4
## **S J P CHARITY TRUST LIMITED Balance Sheet at 31 July 2025**
|Notes
**Current assets**
Debtors
6
Cash at bank
**Creditors**
Amounts falling due
within one year
7
Net current assets
**Net assets**
**Funds**
8
**Unrestricted funds/Total funds**|**2025**
**£**
15,399
101,113
116,512
(70,954)
45,558
**45,558**
**45,558**|**2024**
**£**
4,704
124,039
128,743
(81,090)
47,653
**47,653**
**47,653**|
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2025.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2025 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to charitable small companies.
The financial statements were approved by the Board of Trustees on 13 February 2026 and were signed on its behalf by:
Mrs K M Webster Trustee
## **Company Registration No 04482726**
The attached notes form part of these financial statements
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## **S J P CHARITY TRUST LIMITED**
## **Notes to the Financial Statements for the year ended 31 July 2025**
## **1. Accounting policies**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 lreland (FRS 102) (effective 1 January 2015)', Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources. **Taxation** The charity is exempt from corporation tax on its charitable activities. **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. All funds are currently unrestricted.
## **Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## **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.
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## **S J P CHARITY TRUST LIMITED**
## **Notes to the Financial Statements for the year ended 31 July 2025 - continued**
Accounting policies - continued
## **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.
## **Going Concern**
At the time of approving the accounts, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the accounts.
## **Critical accounting judgements and key sources of estimation uncertainty**
In the application of the Charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying value 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 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.
## **2. Charitable activities**
|Festival income and donations
Unrestricted funds
Restricted funds
Total
**3. Investment income**
Deposit account interest|**2025**
**£**
272,610
7,000
279,610
1,069|**2024**
**£**
272,862
-
272,862
1,218|
|---|---|---|
## **4. Trustees’ remuneration and benefits**
There were no trustees’ remuneration or other benefits for the year ended 31 July 2025 nor for the year ended 31 July 2024.
There were no trustees’ expenses paid for the year ended 31 July 2025 nor for the year ended 31 July 2024.
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## **S JP CHARITY TRUST LIMITED Notes to the Financial Statements for the year ended 31 July 2025 – continued**
|**2025**
**£**
**5. Charitable activities**
Festival Expenditure and Grants to Charities
Festival expenditure
217,774
Grants to charities
65,000
Total
282,774
Grants payable as follows:
Toynbee Hall
Charity No 211850
48,750
North London Hospice Charity No 285300
16,250
**6.** **Debtors: amounts falling due within one year**
Other debtors
15,399
“Other debtors” comprises sums due from Advertisers, Sponsors and HMRC
**7. Creditors: amounts falling due within one year**
Grants payable
52,500
Other creditors
18,454
Total
70,954
**8. Movement in funds**
Unrestricted funds – general fund
Opening balance at 1/8/2024 (comparative 1/8/2023)
47,653
Incoming resources
280,679
Resources expended
(282,774)
Net (decrease) increase in funds
(2,095)
Closing balance at 31/7/2025 (comparative 31/7/2024)
45,558|**2025**
**£**
217,774
65,000|**2024**
**£**
198,480
75,000
273,480
55,625
19,375
4,704
70,000
11,090
81,090
47,053
274,080
(273,480)
600
47,653|**2024**
**£**
198,480
75,000
273,480
55,625
19,375
4,704
70,000
11,090
81,090
47,053
274,080
(273,480)
600
47,653|**2024**
**£**
198,480
75,000
273,480
55,625
19,375
4,704
70,000
11,090
81,090
47,053
274,080
(273,480)
600
47,653|
|---|---|---|---|---|
|||
|||
||||
|
600
47,653|
## **9. Related party disclosures**
SJP Charity Trust Ltd hires St Jude-on-the-Hill Church for its festival each year for which it pays a hire fee. A director of SJP Charity Trust Ltd is employed as Bookings Manager for St Jude-on-the-Hill Church and this director receives remuneration from the church linked to the hire fee income paid to the church. During the year, SJP Charity Trust Ltd paid a total hire fee including sundry costs to St Jude-on-the-Hill Church of £16,624 (2024- £12,007). The Bookings Manager’s remuneration from the church from the 2025 hire fee has not been determined but is expected to be approximately £1,600. The remuneration from the 2024 hire fee was £1,197 .
There were no other related party transactions for the year ended 31 July 2025 or the year ended 31 July 2024.
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