Charity registration number 1102472 (England and Wales) Company reglstratlon number 05004498 JOHN APTHORP CHARITY ANNUAL REPORT AND FINANaAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 AE8WK28U 2610912025 COMPANIES HOUSE A31
JOHN APTHORP CHAIUTY CONTENTS Page Council Members, report Independent auditor's report Statement of financial activities Balance sheet Statement of cash flows Notes to the financial statements 10-13
JOHN APTHORP CHARITY REPORT OF THE COUNCIL OF MANAGEMENT FOR THE YEAR ENDED 31 DECEMBER 2024 The council present their annual report and financial statements for the year ended 31 December 2024. Objectives and activities The objectives of The Charity are helping the young, the old. the disabled and the general community in Hertfordshire, Bedfordshire and Cambridgeshire in England. This is done by the awarding of grants to organisations with charitable status. Grant applications may be made by any organisation with charitable status operating in our catchment area and are considered by the Council on an individual basis. When setting grant making policy and awarding grants the Council pay due regard to The Charity Commission guidance on public benefit. Achievements and performance During the year grants totalling £652,982 12023: £387.352) were awarded to 24 organisations. Grants awarded in previous years which were returned to the charitable company during the year totalled £67,175 (2023.. £nil). Grants awarded are detailed below: Re¢lplent Hunt's Mobility Autism Bedfordshire Purpose Towards a mobility scooter Towards additional costs of converting properties into supported accomodation Towards funding one of the rooms for young people in their new hostel in Welwyn Garden City Towards windows and doors for their new guide hut Towards a rapid response vehicle Towards spare parts for wheelchairs Towards a new roof for their scout hut Towards a sensory room at their centre Towards a new mezzanine level at their workshop Towards new disabled toilets Towards improvements to their St Albans centre Towards six new laptops Towards a communication tablet for non-verbal children Herts Vision Loss Towards a mini bus The John Clements Sports and Community Trust Towards solar panels and EV chargers at their sport5 centre Towards repair5 to the centre's barn roof Towards the refurbishment of their main building Towards three new laptops Towards new changing rooms Towards the purchase of a new property in Cambridge for use as a support centre Towards a sensory room, security gates and brickwork planters for their new building Towards central heating, carpets and new rr equipment Towards a new meeting/training room Towards the replacement of an exterior wall, entrance gate and railings 1,200 50,000 One YMCA 92,500 Urmston Division Girl Guides Association 15,000 52,895 1,385 40,000 9,000 17,000 14,528 46,000 4,428 MAGPAS 8edford Tigers Community Foundation St Joseph's Scout Group Luton SPACE Watford Sheltered Workshops Multiple Sclerosis Therapy Centre NW Herts and Middlesex Wildlife TNst Home-start Hertfordshire Herts Inclusive Theatre 4,638 26,000 5,000 3,700 30,000 1,792 20.000 Stetham Youth Centre Emmaus Turvey Friends for Life Bedfordshire Sharnbrook Bowls Club Centre 33 125,000 Bishop Stortford Mencap 23,395 North HertFord5hire Minority Ethnic Forum 28,021 15,000 South West Herts Narrowboat Trust Shri Guru Ravidass Sangat Luton 26,500 Total 652.982
JOHN APTHORP CHARITY REPORT OF THE COUNCIL OF MANAGEMENT FOR THE YEAR ENDED 310ECEMBER 2024 Financlal revlew Under the Memorandum and Articles of Association, the charity has the power to make any investment the Council sees fit. During the year the Council decided to invest monies previously held in Treasury deposits to listed investments under the management of Charles Stanley & Co. During the year the charity received investment income and interest of £401,559 (2023.. £377,776). The charity awarded net grants of £585,807 (2023.. £387.352}. Prlnclpal r15k5 and uncertsintles The main risk facing the charity would be a drop in the income generated by the investments held. In these circumstances the charity would have to reduce the amount of grant awards made. The charity mitigates this risk by only awarding grants that can be met by available funds. ReseThes policy and going concern It is the policy of the charity that unrestricted funds should be maintained at a level which will generate investment returns to meet annual grant allocation targets of £450,000 and ensure that. in the event of a significant drop in fundin9, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. At 31 December 2024 the charity held free reserves of £ll,111,81012023: £11,054,086) which met this target. Plans for future perlods The Council of Management will continue to distribute the charity's income through the awarding ol grants to institutions. The focu5 in future years will be charitable organi5ations that work locally to the Trust. Structure, governance and management The charity is a governed by its Memorandum and Articles of Association. The council members are appointed by existin9 members at the annual general meeting. Day to day management of the charity is delegated to K Arnold, a council member. .The Council met four times in the year to award grants and administer the charity. None of the members of the Council of Management has any beneficial interest in the company. All of the members of the Council of Management are members of the company and guarantee to contribute £1 in the event of a winding up. The Council has assessed the major risks to which the charity is exposed, and are satisfied that the systems are in place to mitigate exposure to the major risks.
JOHN APTHORP CHAIUTY REPORT OF THE COUNCIL OF MANAGEMENT FOR THE YEAR ENDED 31 DECEMBER 2024 Ref•ronce and administration details of the charity. Its trustees and advisers Summary Limited changed its name to The John Apthorp Charity on 20 November 2011. The charity was registered as a company limited by guarantee Ino.. 05004498) on 30 December 2003 and as a charity in England and Wales {no: 1102472) on 4 Marth 2004. The registered address of the charity is Suite 7A Building 6, Croxley Parl Hatters Lane. Watford, Hertfordshire. WD18 8YH. The members ot the Council of Management who are directors under company law and trustees under charity law. who served throughout the year and up to the date of this report were: J D Apthorp CBE (Resigned 7 July 2024) K Arnold (Secretary until 17 August 2024) D M Apthorp C H J Apthorp (Secretary from 17 August 2024) ststement of Council members. responsibillties The Council of Management is responsible for preparing the accounts in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. Company law requires the Council of Management to prepare account5 for each financial year which give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resource, including its net income and expenditure for the year. In preparing those financial statement5, the Council of Management is required to.. select suitable accounting policie5 and apply them consistently • makejudgements and estimates that are reasonable and prudent,. State whether applicable accounting standards and statements of recommended prartice have been followed subject to any departures disclosed and explained in the financial statements,. and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The Council of Management is responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Companies Act 2006. It Is also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Auditor In accordance with section 487 of the Companies Act 2006, a resolution proposing that Myers Clark be reappointed as auditors of the company will be put to the Annual General Meeting. The council members. report was approved by the Board of Council. K Arnold Council member Dated.. 24 September 2025
JOHN APTHORP CHAIUTY INDEPENDENT AUDrroR'S REPORT TO THE COUNaL OF JOHN APTHORP CHARITY Opinion We have audited the financial statements of John Apthorp Charity Ithe 'charitable company'l for the year ended 31 December 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statement5. including significant accounting policie5. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and RepublK of I/and (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial ststements.. give a true and fair view of the state of the charitable company's affairs as at 31 December 2024 and of its incoming resources and application of resources, for the year then ended,. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance with the requirements of the Companies Act 2006. 8asls for oplnlon We conducted our audit in accordance with International Standards on Auditing (UK) USAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors responsibilities for the audit of the Inancial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statement5 in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions r•latlng lo going ¢onc•rn In auditing the financial statements, we have concluded that the council members, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the council with respect to going concern are described in the relevant sections of this report. Other information The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The council are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and. in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit. or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed. we conclude that there is a material misstatement of this other information, we are required to report that fact, We have nothing to report in this regard. Opinions on other matters prescribed by tho Companies Act 2006 In our opinion, based on the work undertaken In the course of the audit.. the information given in the report of the council of management, which includes the directors, report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements,. and the directors, report included within the report of the council of management, report has been prepared in accordance with applicable legal requirements.
JOHN APTHORP CHARrrY INDEPENDENT AUDrroR'S REPORT (CONTINUED) TO THE COUNCIL OF JOHN APTHORP CHARITY Matters on which we are required to report by ex¢epiion In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors, report included within the report of the council of management. We have nothing to report in respect of the lollowing matters in ielation to which the Companies Act 2006 and Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion.. the information given in the financial statements is inconsistent in any material respect with the council members, report or sufficient accounting records have not been kep( or the financial statements are not in agreement with the accounting record5,- or we have not received all the information and explanations we require for our audit. Responsibilities of council As explained more fully in the statement of council members, responsibilities, the council, who are also the directors of the charitable company for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the council determine is necessary to enable the preparation of financial statements that are free from material misstatemen[ whether due to fraud or error. In preparing the financial statements, the council are responsible for assessing the charitable company's ability to continue as a going concern, disclosing. as applicable, matters related to going concern and using the going concern basis of accounting unle55 the council either intend to liquidote the charitable company or to cease operations, or have no realistic alternative but to do so. Audltor's responsibllllles for the audlt of the finanrlal statements We have been appointed as auditor under section 144 of the Charities Act 2011 and ieport in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial ststements as a whole are free from material misstatement, whether due to fraud or error, and to Issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS IUK} will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. The extent to whlch the audit was consider•d capable of detectlng Irregularities Includlng fraud In identifying and assessing Ihe risks of material misstatement in respect of irregularities, includin9 fraud and non-compliance with laws and regulations, we considered the following: The nature of the industry and sector, control environment and business performance including the design of the remuneration policies, key drivers for trustee remuneration, bonus levels and performance targets,. results of our enquiries of Management about their own identification and assessment of the risks of irregularities,. any matters we identified having obtained and review the charitable company's documentation of their policies and procedures relating to; identifying, evaluating and compiying with laws and regulation and whether they were aware of any instances of non-compliance; detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspetted or alleged fraud.. the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations; the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.
JOHN APTHORP CHARITY INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE COUNCIL OF JOHN APTHORP CHARITY As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud. In common with all audits under ISAS (UK), we are also required to perform specific procedures to respond to the risk of management override. We also obtained an understanding of the legal and regulatory frameworks that the charitable company operates in. focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the charitable company's ability to operate or to avoid a material penalty. Audlt response to rlsks Identlfied To address the risk of fraud through management bias and override of controls, we.. performed analytical procedure5 to identify any unusual or unexpected relationships,. tested journal entrie5 to identify unusual tran5actions,' • assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias,. and investigated the rationale behind significant or unusual transactions. In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures vthich included, but were not limited to= agreeing financial statement disclosures to underlying supporting documentation,. reading the minutes of meetings of those charged with governance.. and enquiring of management as to actual and potential litl9ation and claims. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. A further description of our responsibilities is available on the Financial Reporting Council's website at.. httPS'.11 www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report. Use of our report This report is made solely to the charitable company's members, as a body, in accordance with chapter 3 of Part 16 of the Companies Act 2006 and part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to State to them in an auditors. report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit worl for this reporL or for the opinions we have formed. Paul Windmill (Senior Statutory Auditor) For and on behalf of Myers Clark Chartered Accountants Statutory Auditor 25 September 2025 Suite 7A, Building 6, Croxley Park, Hatters Lane, Watford, Hertfordshire WD18 8YH
JOHN APTHORP CHARITY INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE COUNCIL OF JOHN APTHORP CHARITY Matters on which we are required to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit we have not identified material misstatements in the directors, report included within the report of the council of management. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion: the information given in the financial statements is inconsistent in any material respect with the council members, report,. or sufficient accounting records have not been kept,. or the financial statements are not in agreement with the accounting records,. or we have not received all the information and explanations we require for our audiL Responsibilities of council As explained more fully in the statement of council members, responsibilities, the council, who are also the directors of the charitable company for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such intemal control as the council determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the council are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable. matters related to going concern and using the going concern basis of accounting unless the council either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Auditor's responsibilities for the audit ot the financial statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if. individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedure5 are capable of detecting irregularities, including fraud, is detailed below. The extent to which the audit was considered capable of detecting Irre9ularitles including fraud In identifying and assessing the risks of material misstatement in respect of irregularities. including fraud and non-compliance with laws and regulations, we considered the following,. The nature of the industry and sector, control environment and business performance including the design of the remuneration policies, key drivers for trustee remuneration, bonus levels and performance targets,. results of our enquiries of Management about their own identification and assessment of the risks of irregularities: any matters we identified having obtained and review the charitable company's documentstion of their policies and procedures relating to.. identifying. evaluating and complying with laws and regulation and whether they were aware of any instances of non-compliance,. detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud,. the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations,. the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.
JOHN APTHORP CHARITY STATEMENT OF FINANCIAL ACTivrrIES INCLUDING INCOME AND EXPENDrruRE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Notes Inco Investments Other income li 401,559 350 377,776 150 Total income 401,909 377,926 Grants Administration fees Audit seNices Other services Professional fees Investment management (585.8071 (387,352) (1,2991 (769) {2,940) (2,8201 (1,846) (1,614) {2,5801 {230} (2301 Total expenditure (592,1221 {395,365) Net 9ains/(losses) on investments 247,937 (322,9961 Net movernent in funds 57,724 (340,435) Fund balances at l January 2024 11,054,086 11,394,521 Fund balances at JI Decemb•f 2024 11.111,810 11,054,086 The notes on pages 10 to 13 form part of these financial statements.
JOHN APTHORP CHARITY BALANCE SHEET ASA r31 DECEMBER 2024 2024 2023 Notes FSxed assets tnve5tments 11,006,591 10,758,883 Cuffent assets . Debtors Cash at bank and in hand 39,397 70,362 40.067 261,336 109.759 301.403 Creditors: amounts falling due wlthln one year (4,540) (6,2001 Net current assets 105,219 295,203 Totsl assets les5 current liabilities 11,111,810 11,054.086 Income funds Designated revaluation reseprfe. General unrestricted funds 3.712,375 7,399,435 3,464,438 7,589,648 11,111,810 11,054,086 11,111,810 11,054,086 The directors acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of the accounts These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies, regime and in accordance with FRS 102 SORP. The financial statement5 Approved by the Council of management on 24 September 2025 and signed on their behalf by.. K Arnold Council Member C H J Apthorp Company Secretary Company Registration No. 05004498
JOHN APTHORP CHAIUTY STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Notes Cash flows from operating activities Cash absorbed by operations 13 (592,762) (256,458) Inv•sting act•vities Dividends and interest from investments Charges paid 401,559 230 377.776 230 Net ¢ash generated from investing activities 401.789 378,006 Net (d•crease)nncreas• In cash and cash equlvalenls (190,973) 121,548 Cash and cash equivalents at beginning of year 261.336 139.788 Cash and cash •qulv•lénts at •nd of ye•r 70,362 261,336 Relatlng to: Cash at bank and in hand 70,362 261,336
JOHN APTHORP CHARrrY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng polides 1.1 Basis of preparation The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements are prepared in accordance with the Statement of Recommended Prattice= Accounting by Charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Ireland IFRS 102) effective l January 2019 ISORP FRS 102) and the Financial Reporting Standard applicable in the UK and Ireland and the Companies Act 2006. The charity constitutes a public benefit entity as defined by FRS 102. The Trustee considers that there are no material uncertainties about the charity's ability to continue as a going concern. 1.2 Income recognltlon Income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Donations and other voluntary form5 of income are recogni5ed as incoming resources when receivable, except insofar as they are incapable of financial measurement. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. This is normally upon notification by investment managers of the receipt of the dividend. 1.3 Expendlture recognltlon Expenditure is recognised once there is a legal or constfuctive obligation to transfer economic benefit to a third paty, 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 actlvlty. The costs of each activity are made up of the total of direct Costs and shared costs, including support costs involved in undertaking each actlvlty. Direct costs attributable to a single activity are allocated directly to that actlvlty. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned beeen 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. Liabilities are recognised as soon as there is a legal or constructive obligation committin9 the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on the accruals basis. Grants payable are payment made to third parties in the furtherance of the charitable objects of the charity. In the case of an unconditional grant offer this is accrued once the recipient has been notified of the grant. Grants awarded that are subject to the recipient fulfilling performance conditions are only accrued when the recipient has been notified of the grant and any remaining unfulfilled condition attaching to the grant is outside the control of the charity. Provisions for grants are made when the intention to make the grant has been communicated to the recipient but there is uncertainty as to the timing of the grant or the amount payable. Irrecoverable VAT is charged against the expenditure heading for which it was incurred. 1.4 Invostments Investments are held for the purposes of the generation of income for future grant payments and are stated at market value at the balance Sheet date. Any gain or loss on revaluation is tsken to the statement of financial activities. 10-
JOHN APTHORP CHARITY NOTES TO THE FINANaAL STATEMENTS (CONllNUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Othei Income 2024 2023 Other income 350 150 Investment Income 2024 2023 Listed investments: Held within the UK Held outside the UK 398,934 2,625 375,459 2,317 40L559 377,776 Grants payable 2024 2023 Grants awarded in the year to instutions Grants refunded from institutions 652,982 (67,175 387,352 585.807 387,352 For further details of the grants awarded see page l in the Report of the Council of Management. 11
JOHN APTHORP CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR EIVDED 31 DECEMBER 2024 Fixed •$set investments 2024 2023 Market value at l January 2024 Charges paid Movement in reali5ed and unrealised gain 10,758,883 1230) 247,937 11,082,109 1230) (322,996) Market value at 31 December 2024 11,006,591 10,758,883 Historical cost at 31 December 2024 7,168,006 7,073,946 Held within the UK Held outside the UK 10,960,403 46.188 10,722,999 35,884 11,006,591 10,758,883 Individual holdings which comprised more than 5% of the total market value were as follows.. 2024 2023 Experian IOC shares Compass Group 11.05p shares Diageo 28p shares Severn Trent 97p shares Beazley PIC 0.05p shares (<5% in 2023) Tate & Lyle 0.2916666667p shares National Grid 0.12431289p shares {<5% in 2023) Land Securilies Group 0.106666666p shares 1,722,500 1,331,000 1,268,750 1,254,000 816,500 649.500 613,539 584,000 1,601,000 1,073,000 1,428,000 1,289,500 659,000 704,800 Debtors 2024 2023 Prepayments and accrued income 39,397 40,067 CredStoTh amounts ta115ng due withln one year 2024 2023 Other creditors Accruals loo 2,000 4,200 4,540 6,200 12-
JOHN APTHORP CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Designated funds 2024 2023 Balance at l January Add: Movement in unrealised gains 3,464,438 247,937 3,710.394 (245,956) Balance at 31 December 3,712,375 3.464,438 Grant ¢ommltments No grant awards have been approved for future years (2023: £nil). 10 Truste•s remuneratlon None of the Council of Mana9ement received any remuneration or reimbursement of expenses in the year 12023: none). 11 R•lat•d party transactlons No related paty transactions occurred during the year. 12 Auditor'5 Ethical Standards The relevant circumstances requiring disclosure in accordance with the requirement5 of APB Ethical Standard Provisions Available for Small Entities are that in common with many charities of our size and nature we use our auditors to assist with the preparation of the accounts. 13 Cash generated from operations 2024 2023 Surplus/(deficit) for the year 57,724 (340,4351 Adjustments for.. Investment income cOgnised in statement of financial activities Fail value gains and losses on investments (401,559) (247,937) (377,776) 322,996 Movements in working capital: Decrease in debtors (Decreasel/increase in creditors 670 (1,660) 136,517 2,240 Cash absorbed by operatlons (592,7621 (256,4581 13-
JOHN APTHORP CHARrrY BALANCE SHEET ASA T31 DECEMBER 2024 2024 2023 Notes Fixed assets Investments 11,006.591 10,758,883 Current assets Debtors Cash at bank and in hand 39,397 70,362 40,067 261,336 109.759 301,403 Credltors: amounts falling du• wlthln one year {4,540) (6,2001 Net current assets 105.219 295,203 Total aets less current Ilabllltles 11,111,810 11,054.086 Income fvnds
JOHN APTHORP CHARITY STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Notes Cash flows from operating activlties Cash absorbed by operations 13 (592,762) (256,458) Investing activities Dividends and interest from investments Charges paid 401,559 230 377,776 230 N•t Cash 9•rated from investing activiti•s 401,789 378,006 Net (decrease)lJncrease in ash and cash •quivalents (190,973) 121,548 Cash and cash equivalents at beginnin9 of year 261,336 139,788 Cash and cash equivalents at end of ye•r 70,362 261,336 Relating to: Cash at bank and in hand 70,362 261,336
JOHN APTHORP CHARITY NOTES TO THE FINANaAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 A<counting policles 1.1 Basis of preparation The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The linancial statements are prepared in accordance with the Statement of Recommended Practice.. Accounting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Ireland (FRS 102} effective l January 2019150RP FRS 102) and the Financial Reporting Standard applicable in the UK and Ireland and the Companies Act 2006. The charity constitutes a public benefit entity as defined by FRS 102. The Trustee considers Ihat there are no material uncertainties about the charity's ability to continue as a going concern. 1.2 In¢ome re¢ognltlon Income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Donations and other volunlary forms of income are recognised as incoming resources when receivable, except insofar as they are incapable of financial measurement. Dividends are reco9nised once the dividend has been declared and notification has been received ol the dividend due. This is normally upon notification by investment managers of the receipt of the dividend. 1.3 Expendlture rncognltlon Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third paty, it is probable that a transfer of economic benefits will be required in settlemenL 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 attivity 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 beeen 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. Liabilities a recognised as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on the accruals basis. Grants payable are payment made to third parties in the fvrtherance of the charitable objects of the charity. In the case of an unconditional grant offer this is accrued once the recipient has been notified of the grant. Grants awarded that are subject to the recipient fulfilling performance conditions arÈ only accrued when the recipient has been notified of the grant and any remaining unfulfilled condition attaching to the grant is outside the control of the charity. Provisions for grants are made when the intention to make the grant has been communicated to the recipient but there is uncertainty as to the timing of the grant or the amount payable. Irrecoverable VAT is charged against the expenditure heading for which it was incurred. 1.4 Investments Investments are held for the purposes of the generation of income for future grant payments and are stated at market value at the balance Sheet date. Any gain OT loss on revaluation is taken to the statement of linancial activities. 10-
JOHN APTHORP CHAFUTY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Other Income 2024 2023 Other income 350 150 Investment income 2024 2023 Listed investments- Held within the UK Held outside the UK 398,934 2,62S 375,459 2,317 401,559 377.776 Grants payable 2024 2023 Grants awaided in the year to instutions Grant5 refunded from institutions 652,982 167.175) 387,352 S85,807 387.352 For further details of the grants awarded see page l in the Report of the Council of Management. 11
JOHN APTHORP CHARrrY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Flxed a55et Investments 2024 2023 Market value at l January 2024 Charges paid Movement in realised and unrealised gain 10,758.883 (230) 247.937 11,082,109 1230) (322,996) Market value at 31 December 2024 11.006,591 10,7S8,883 Historical cost at 31 December 2024 7,168,006 7,073,946 Held within the UK Held outside the UK 10,960,403 46.188 10,722,999 35,884 11,006,591 10,758,883 Individual holdings which comprised more than 5% of the total market value were as follows: 2024 2023 Experi3n IOC shares Compass Group 11.osp shares Diageo 28p shares Severn Trent 97p shares Beazley PIC 0.05p shares {<5% in 2023) Tate & Lyle 0.2916666667p shares National Grid 0.12431289p shares (<5% in 2023) Land Securities Group 0.106666666p shares 1,722,500 1,331,000 1,268,750 1,254,000 816.500 649.500 613.539 584.000 1,601,000 1,073,000 1,428,000 1,289,500 659,000 704,800 Debtors 2024 2023 Prepayments and accrued income 39,397 40,067 Creditors: amounts falllng due within one year 2024 2023 Other creditors Accruals loo 4,440 2,000 4,200 6,200 12-
JOHN APTHORP CHARITY NOTES TO THE FINANaAL STATEMENTS (CONTINUED) FOR THE YEAR EAIDED 31 DECEMBER 2024 DesSgn•ted funds 2024 2023 Balance at l January Add.. Movement in unreali5ed gains 3,464,438 247,937 3,710,394 (245,956) Balance at 31 December 3,712,375 3,464,438 Gr•nt ¢ommltm¢nts No grant awards have been approved for future years (2023: £nill. 10 Trustee$ remuneration None of the Council of Management received any remuneration or reimbursement of expenses in the year {2023: none). 11 R•Jated party transactlons No related party transactions occurred during.the year.. 12 Auditor's Ethical Standards The relevant circumstance5 requiring disclosure in accordance with the requirement5 of APB Ethical standard - Provisions Available for. Small Entities are that in common with- many charities, of our size and. nature we use our auditors to assist with the preparation of .the.accounts. 13 C•sh 9en•r•t•d from oper•tlons 2024 2023 Surplus/(deficit) for the year 57,724 (340,435) Adjustments for.. Investment income recognised in statement of financial activities Fair value gain5 and losses on investments (401,559) (247,937) {377,7761 322,996 Movements in working capital: Decrease in debtors IDecreasel/increase in creditors 670 11,6601 136,517 2,240 Cash absorbed by operations (592.762) (256,458) 13-