Charity reglstration number 1111517 (England and Wales) THE J L YEARSLEY FAMILY FOUNDATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
J L YEARSLEY FAMILY FOUNDATION LEGALAND ADMINISTRATIVE INFORMATION Trusteès Mr J L Yearsley Mrs L Russell Mrs R l Nicholson Inv•stment managers Charles Stanley Charity numb6r (England and Wales) 1111517 Rgglstered office Kinglhorpe 18 Bury & Rochdale Old Road Bury England BL9 7TZ Independent examiner Dominic Huxley BK Plus Limited Sterling House 501 Middleton Road Chadderton Oldham OL9 9LY
THE J L YEARSLEY FAMILY FOUNDATION CONTENTS Page Tru51ees' report Independenl examinefs report Statement of financlal a¢tivllies statement of financial posillon Stalemenl of cash flows Notes to th6 financial slatemenls 7-13
THE J L YEARSLEY FAMILY FOUNDATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 The trustees present their annual report and financial slalements for Ihe year ended 31 March 2025. The financial slalements have be8n prepared in accordance with the accounting policies set out in note 1 to the financlal statements and comply with the charity's governing document, the Charilies Act 2011, FRS 102 "The Financial Reporting Standard applicable in Ihe UK and Republic of Ireland" and the Charities SORP 'Accounling and Reporting by ChaTlties'. Statement of Recommended Practice applicable to charities preparing their accounts In accordance with the Financial Reporting Standard applicable in ihe UK and Republic of Ireland IFRS 1021" ObJèctlves and a¢tlvlties Tha objectives of th8 charity are lo provide monles towards local charities. sports activities and general worthy causes. The charitS funds are mainly invested in a portfolio of Ilstèd securities and in shares of ils subsidiary company. The trusleÉs Snlend lo make regular gifts lo suitable worthy causes out of the returns on Ihose inveslmenls. Public bonefit The Iruslees have pald due regard to guldance issued by the Charity Commlssion in deciding whal aclivilies the charity should undertake. Achlovemonts and performance Slgnlficant aclivili8S and achievemen¢s against obje¢lives During the year the charlly made donations lo local and other charities amounting to 8 total of £18,011 12024.. £53,029). Flnanclal rèvlew The charity's income during the year amounted to a lolal of £49,073 (2024.. £81,816}, consisling of donations r8ceived of £5,581. interest re¢eived of £16,627 and divid8nds received on lisled investments 01 £26,865. In addition, there was a profil 01 £5,758 on the sale of listed securities. and an unrealised 105s of £33,613 on the revaluation of investments held al the balance sheet dale. The nel movement in funds during the year was a decrease of £13,808 {2024'. £236.130 increase). ReseeS policy The reserves of the charity. which are all unreslricled, are mostly held in a porlfolio of listed securities and in shares in ils subsidiary company. The current intention is lo maintain tho real capital value of those investments over the medium term and increase il through further donations received, to enable the objectlV8s of the charity lo be lund6d out of the returns on those investments for many years. The level of reserves at 31 March 2025 was £2,565,196 (2024.. £2,579.004). which is considered lo be an acceplable level and is consistent with the reserves policy. Structure, governance and managemènt The charity has been sot up as an unincorporated charitable trust and is govemed by ils trust deed. The trustees who served during the year and up lo the dale of signature of Ihe financial stalemenls were.. Mr J L Yearsley Mrs L Russell Mrs R l Nlcholson
THE J L YEARSLEY FAMILY FOUNDATION TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 ReGruilment and appoinlmenl ollruslees New trustees are appointed by a resolution of a meeling of the ITUStees and may be appointed al any time, provided that the lolal number of trustees does not exceed 4. There is no formal training provided for Iruslees bul Ihey ore advised to read literature available from the Charily Commission and they are made awafe of their general dulles and responsibilities as part of the recruitment process and once they join the board and attend moelings. Organisalional slruGtur8 A board of Iruslees, who meel on a regular basis, adminisler the charily. The charills investments are managed by Charlés Stanley. The trustees, repo was approvèd by the Board of Trustees. Mr J L Yearsley Trustee 20 August 2025
THE J L YEARSLEY FAMILY FOUNDATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE J L YEARSLEY FAMILY FOUNDATION I report lo thè trustees on my 8xaminalion of the financial statements of The J L Y8arsley Family Foundation {Ihe charily) for the year ended 31 March 2025. ResponslbllSties and basls of report As th6 trustees of th8 charity you are responsible for the preparation of the financial statements in accordance with the requirements ol the Charities Act 2011. report In respect of my examination of the charity's financial statements carried out under seclion 14S of the Charilles Act 2011. In Carrying out my examination I have followed the Direcllons given by the Charity Commission under 5ecllon 14515)(b> of Ihe Charities Act 2011. Independent examiner's statement I have completed my examinatlon. I conflrm that no matters have come lo my attentlon in conneclSon wilh the examination givin9 me cause lo believe that in any material respect.. accounting records were not k8pI in respect of th8 charity as required by secllon 130 of the Charities Act 2011. the flnancial statements do not accord with those r8cords', or the linancSal slal8menls do not comply with the applicable Tequirements concerning the form and ¢onlenl ol finan¢lal statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any quirement that the financial statements give a true and fair viéw, which is not 8 matter considered as part of an independent examination. I have no concerns and have come across no other mallers in connection with the examination to which attention should be drawn in this report in order to enable a proper und6rstanding ol the financial slalemenls lo b8 reached. Dominlc Huxley ACA for and onbehalf of 8K Plus Limited Slerllng House 501 Middleton Road Chadderton Oldham OL9 9LY 20 August 2025
THE J L YEARSLEY FAMILY FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITUREACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted Unrestrlctad funds funds 2025 2024 Notes Income from.. Donations and legacles Investments 5,581 43,492 50,000 31,816 Total Income 49,073 81,816 Expendlture on.. Charitable activitie3 35,026 63,760 Total expenditure 35,026 63,760 Nel gainslllosses} on investmenls 11 (27,855) 218.074 Net incomel{expendlturel and movement in funds {13,808) 236,130 Reconclllatlon of funds: Fund balances at 1 April 2024 2.579,004 2,342.874 Fund balances at 31 March 2025 2.565,196 2,579,004 The slalemenl of financial activities Includes all galns and losses recognlsed In the year. All income and expendllure derlve from continulng activities. The notes on pages 7 to 13 form part of these financial statements.
THE J L YEARSLEY FAMILY FOUNDATION STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2025 2025 2024 Notès Fixed asséts Investments 13 2.744,516 2,768,494 Current assets Cash al bank and in hand 12.808 5.819 Credltors: amounts falllng due wlthln one year 14 (192,128) 1195,309} Net current Ilablllties (179,320) 1189,490) Total assets less current Ilabilitles 2.565,196 2,579,004 The funds of thé charlty Unreslricled funds 15 2.565.196 2,579,004 2,565.196 2,579,004 The notes on pages 7 to 13 form part of these financlal statements. The linancial slatemenls were approved by the trustees on 20 August 2025 MrJLYea Trustee ley
THE J L YEARSLEY FAMILY FOUNDATION STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Notes Cash flows from operattng activltles Cash absorbed by operations 18 {32,626) (11,3721 Investlng actlvltl8s Purchase of inveslmenls Proceeds from disposal of investments Investment Income recelved (392,571) 388,694 43.492 12.028,366) 1,859,165 31,816 Net eash generated froml(used Sn) investlng activltles 39.615 1137,3851 Net cash generated from flnanclng actlvltles Net Increaselldecrease) In cash and cash equlvalents 6,989 (148,7571 Cash and cash equlvalents at beginning of year 5.819 154,576 Cash and cash equlvalenls at ond of year 12,808 5,819 The notes on page5 7 10 13 form part of Ihese financial slatem8nts.
THE J L YEARSLEY FAMILY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies Charlty Informatlon The J L Yearsley Family Foundation is an unincorporatod charitsb18 trust governed by its trust dead. 1.1 Accounting conventSon The flnancial slalemenls have been prepar8d in accordance with Ihe charily's governing document, the Charities Acl 2011. FRS 102 "The Financial Reporting Slandard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charilies.. Slalement of Recommended Practice applicable to charities preparing Ih8ir accounls in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102}" The charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling, which is the functlonal currency of the charity. Mor)elary amounls in these financial slatemenls are rounded lo the near8sI £. The flnancial st8temenls have been prepared under the historical Cost convention, modified lo include the revaluallon of certain financial instruments at falr value. The principal accounlSng policies adopled are sel out below. 1.2 Going concern At the lime of approving the financial slatemenls, Ihe Iruslees have a reasonable expectation that the charity has adequate resources lo continue in operalional existence for the foreseeable fulure. Thus th8 Iruslees continue lo adopl the goin9 concern basis of accounting in preparing the financial slalemenls. 1.3 Charltable funds Unreslricled lunds are available for use al the discretion of Ihe trustees in furlherance of their charilable objectives. Reslrlcled funds are subject lo specific conditions by donors or grantors as lo how they may be used. The purposes and uses of the restricted funds are sèl out in the noles to the financl81 slalemenls. Endowment funds are subject to specific conditions by donors that the capital musl be maintained by the charity. 1.4 Incom Income Is recognised when the charity is18gally 8ntitl8d to it afler any performance conditions have been met, the amounts can be mèasured reliably. and it is probable that income will be received. Cash donations are recognised on receipt. other donations are reGognised once the charity has been notified of the donalion. unless performance conditions require deferral of Ihe amounl. Income tax recoverable in relation lo donations received under Gifl Aid or deeds of covenant is recognised al the time of Ihe donalion. Legacies are recognised on receipt or otherwise if the charity has begn notified of an impending dislrSbulion, the amount is known, and receipl is exp8cled. If the amount is not known, the legacy is trealed as a conlingenl asset.
THE J L YEARSLEY FAMILY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollcles IContlnued} 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obllgalion to transfer economic benefit to a Ihlrd party, it is probable that a transfer of economic benefits will be required in seltlemenl, and Ihe amount of the obligallon can be measured reliably. Expenditure is classified by activity. The cosls of each activity are made up of the total of direct costs and shared costs. including support costs Involved In undeTtaking each activity. Direct cosls allribulable lo a single aclivity aro allocated directly lo thal activily. Shared costs which conlribul8 to more than one activily and support costs which are not atlribulable lo a single activity are apportioned between Ihoso activities on a basls consistent with th8 use of resources. Central staff costs are allocated on the basis of time spenl, and depreciation charges are allocated on Iha portion of the asset's use. 1.6 Flxed a35et Investments Investments quoted on a recognised stock exchange are measured at fair value at each r8POrting date. Changes in falr value are recognised in nel Incomel{expèndilurel for thè year. Inveslmenl in shar6s of subsidiary company are slated al historlc cost less impairment. A subsidiary Is an enllty controlled by th8 charity. Control is the power to govern the financial and operaling policies of the entity so as lo obtain benefits from ils activities. 1.7 Cash and cash equlvalents Cash and cash equivalents include cash in hand, d8POSits hald at call with banks, other short-larm liquid investments wilh original malurilies of three months or less. and bank overdrafts. Bank overdrafts ar8 shown wilhin borrowings in current liabilities. Baslc flnanclal assets Basic finan¢ial assets, which include debtors and cash and bank balar)ces, are initially measured al transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement conslilules a financing Iransaclion, where Ihe transaction Is measured al Ihe present value of the future receipts discounted at a market rale of interest. Financial assets classified as receivable within one year are not amortised. Baslc flnanclal Ilabilltles Basic financial Ilabililies, including creditors and bank loans aro initially recognised at transaction price unless the arrangement conslitules a financing Iransaclion. where the debt inslrumenl is measured al the present value of the future payments discounted 81 a market rale of interest. Financial liabilities classified as payable within one year are not amortised. Debt inslrumenls are subsequently carried at amortised cost. using the 8ffeclive interest rale method. Trade creditors are obligations lo pay for goods or seNices that have been acqulred in tho ordinary course of operalions from suppliers. Amounts payable are classified as currenl liabllilies il payment is du6 within one year or less. If not. they are PTesenled as non-current liabilities. Trade creditors are recognised inilially al Iransaclion price and subsequently measured at amortised cost using the effectlV6 inlerest method. Derecognltlon of Ilnancial Ilabilitles Financial liabilllies are derecognised when the Gharity's Contractual obligations expire or are discharged or cancelled.
THE J L YEARSLEY FAMILY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting pollcios Icontlnued) 1.8 Employee benefits The cost of any unused holiday entlllement is rècognised in the period in which the employee's seNices are rèceived. Termination benefits are recognised ImmedSately as an expense when the charity is demonstrably commilled to lerminale the employment of an employee or lo provide temiinalion benefits. Critical accounting estSmates and Judgemenls In the application of the charity's accounting policles. the trustees are required to make judgements, esllmales and assumptions aboul the carrying 3mount of assets and Ilabilities that are not readily apparent from other sources. The esllmales and associated assumptions are based on historical experience and olher factors that are considered to be relevanl. Actual results may differ from these eslimatos. The estimates and underlying assumplions are revlewed on an ongoing basis. Revisions lo accounting estimates are Tecognised in the period in which the estimale Is revised where the revision affects only that period. or In lh8 perlod of the revision and future periods wher8 the revislon affecls both currenl and future periods. Income from donatlons and lega¢le8 Unrestrlcted funds 2025 Unre$trlcted funds 2024 Donatlons and gills 5,581 50,000 Income from Investments Unrestrlctèd Unrestrlcted funds funds 2025 2024 Income from lisled investments Interest receivable 26.865 16,627 18,806 13.010 43.492 31,816
THE J L YEARSLEY FAMILY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Expenditure on charitable actSvltl8s Donations 2025 Donations 2024 Direct costs Donallons made 18,011 53,029 Share of support and governance cost5 (seè note 71 Governance 17,015 10,731 35,026 63.760 Ahalysl8 by fund Unrestrlcted funds 35,026 63,780 Doscrlptlon of charltable actlvlties Donallons Making donalions to local charttles, sports acllvities and general worthy Causes. Support cosls allocated to activities 2025 2024 Governance costs 17.015 10,731 Analysed bèlween: Donations 17,015 10,731 2025 2024 Governanco costs comprlse: Independent examination fees stockbrokers fees Bank ¢harges 2,400 14,615 2,400 8,301 30 17,015 10,731 Nat movement In funds 2025 2024 The nel movement In funds is slated after chargingl{credlting)'. Fees payable for the independent examination of ihe charity's financial slalemenls 2,400 2,400 10-
THE J L YEARSLEY FAMILY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Trustees None of the trustees {or any persons connected with them) received any remuneralion or benefits from tha charity during the year. 10 Employe65 The average monthly number of employ8es during the year was.. 2025 Number 2024 Number Total There were no employees whose annual remuneration was more than £60,000. 11 Galns and 105ses on Investment$ Unrostrlcted Unrestrlcted funds funds 2025 2024 Gainsl(IossgsI arising on.. Rev81ualion of Investmenls Sale of investments (33,6131 5,758 255,517 {37,4431 127,8551 218,074 12 Taxatlon The ¢harily is exempt from taxation on its activili8s because all its income is applied for charitable purposes. 13 Fixed assét Investments Listed Other Inveslment$ Investments Total C05t or valualSon Al 1 April 2024 Addilions Valuation changes Disposals 2,097,456 392.571 {33,613} {382,936} 671.038 2,768,494 392,571 (33.6131 {382.9361 Al 31 March 2025 2,073.478 671,038 2,744,516 Carrylng amount Al 31 March 2025 2,073.478 671,038 2,744.516 At 31 March 2024 2,097.456 671.038 2,768,494 11
THE J L YEARSLEY FAMILY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 13 Flxed asset Investments Icontinuedl 2025 2024 Other Investments comprise.. Notes Investments in subsldiaries 17 671,038 671,038 14 Credltors.. amounts falllng due within one year 2025 2024 Amounts OW8d to subsidiary undertakings Accruals and deferred income 189,728 2.400 192,909 2,400 192,128 195,309 15 Unrestrlcted funds The unreslrlcted funds of Ihe Gharily comprise the unexpended balances of donations and grants which ar8 nol subjecl to specific con(iilions by donors and grantors as lo how Ihey may be used. These include deslgnaled funds which have been sel aside out of unrestricl8d funds by the trustees for specific purposes. At 1 Aprll 2024 In¢omlng resources Resources Qxpended Galns and At 31 March losses 2025 G8neral funds 2,579.004 49.073 {35,0261 127,8551 2,565,196 Prevlous year: At 1 April 2023 Incomlng resources Resources expended Galns and At 31 March losses 2024 General funds 2,342,874 81,816 (63.760) 218,074 2,579,004 16 Relatod party transactions Transactlons wlth related partles At 31 March 2025 there was an amount of £189,728 (2024.. £192,909) oulslanding lo Belfield Hall Developments Ltd.. a subsidiary company in which the trusteès of the charity are director5. Durin9 the year donalions amounting lo a total of £5,581 (2024: £50,000) were rec8ived from Belfield Hall Developments Lld. 12-
THE J L YEARSLEY FAMILY FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 17 Subsldlaries These financial stateménls are separate thariiy financial sialemenls for The J L Yearsley Family Foundation. Details of the charity's subsidiaries at 31 March 2025 are as follows.. Name of undertaking Registergd offlce Nature of buslness Class of shares held °/0 Held Dlr&ct Indirect Bellield Hall Developments EngSand Ltd Prop8rly investment Ordinary 100.00 The inveslmenls in subsidiaries ar8 slated at cost. 18 Cash absorbèd by operatlons 2025 2024 (OÈficilllsurplus for the year {13,8081 236,130 AdJustmen13 for: Investment Income recognlsed in statement of financial activilies {G8lnllloss on disposal of Inv85tments Falr value gains and losses on Investments (43,4921 15,7581 33,613 (31,816) 37,443 (255.5171 Movemonts in worklng capltal: IDe¢reasellincrease In creditors (3,181} 2,388 Cash absorbed by operatlons {32.6261 (11,372) 19 Analysls of changes In net funds The ¢harlly had no material debt during Ihe year. 13-