2025-12-31-accounts - The Jecda Foundation

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THE JECDA FOUNDATION (A Company Limited By Guarantee)

Charity No. 1117914 Company No. 06035021

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST DECEMBER 2025

The Jecda Foundation Legal and Administrative Information

Registered Office

Eastry Court Church Street Eastry Kent CT13 0HL

Solicitors

Farrer & Co 66 Lincoln's Inn Fields London WC2A 3LH

Independent Examiner

Moore Kingston Smith LLP 6th Floor 9 Appold Street London EC2A 2AP

Investment Advisers and Bankers

UBS AG 3 Finsbury Avenue London EC2M 2AN

The Jecda Foundation Report of the Trustees

The Trustees present their report and financial statements for the year ended 31st December 2025.

Company Number 06035021 Charity Number 1117914

Governing Documents

The JECDA Foundation is constituted as a limited company without share capital. The charity was incorporated on the 21st of December 2006 and is governed by its Memorandum and Articles of Association, as amended on 30 April 2009.

Board of Trustees

The trustees (who are also the directors, under company law) who served throughout the year to 31st December 2025 and up to the date of signing this report are detailed below.

Lord Freud Lady Freud Mr A A Freud Ms E A Freud Ms J S Freud

Company Secretary

Lady Freud

Recruitment and Appointment of Board of Trustees

As dictated by the charity’s Articles of Association, the board of trustees is appointed by the members of the company. Any person desiring to be admitted to the membership of the company is required to apply in writing. No person shall be admitted until approved by resolution passed in accordance with the Articles of Association by the existing members, who hold absolute discretion as to the admission of any persons.

The information set out on page 1 forms part of this report.

Organisation

The strategic direction of the charity is the responsibility of the board of trustees. In accordance with the constitution the board meets at least once a year. The day-to-day running of the charity is carried out by the officers of the charitable company secretary, who are responsible to the board of trustees.

No trustee receives payment for their activities nor have they received reimbursement for their travel and other related expenses.

Risk

The trustees have examined the major strategic, business and operational risks that the charity faces. This involved identifying the specific risks, assessing their potential impact and likelihood of occurrence, determining what steps could be taken to mitigate those risks and delegating responsibility to executive staff for overseeing management of the associated controls.

As a grant giving charity, Jecda's main risks are reputational, based on whether the initiatives it supports are a success. At the same time it is dependent on the progress of financial markets to maintain its capital, despite a cautious investment strategy. While it is accepted that the charity’s risk management strategies cannot offer absolute assurance against all potential forms of loss or damage, the trustees are satisfied that the controls employed do mitigate exposure to the most significant risks faced by the charity and recognise the need to review the risk management strategy on an annual basis.

The Jecda Foundation Report of the Trustees

Objects

The mission of The JECDA Foundation is the relief of poverty, the advancement of education and health and the advancement of environmental protection or improvement and such other purposes for the benefit of the public as shall be exclusively charitable.

Aims & Objectives

The aims and objectives of The JECDA Foundation are to act in such a way as to pursue its charitable mission.

Public Benefit

We have referred to the guidance in the Charity Commission’s general guidance on Public Benefit including the guidance 'public benefit: running a charity (PB2),' when reviewing our aims and objectives and in planning our future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives they have set.

Annual Review, Achievements and Performance

The main work of the Foundation during 2025 remained support for Volunteering Matters in delivering the Grandmentors project. The number of Grandmentor sites rose to fifteen by year end, although the plan was to reduce the number to the most effective eleven. The Foundation widened the number of charities supported, with donations to Book Banks, Hestia, the Anna Fiorentini Theatre and Film School and the University College London Hospital charity.

Policies

Reserves: The Foundation has aimed to build up its reserves from the original £1.2m to facilitate meeting its objectives. Generally, the Foundation has resolved to donate up to the real income return on its funds each year and use new endowments to build up reserves. However, the Foundation retains full flexibility to build reserves or to run them down, depending on perceived requirements and charitable opportunities. At 31 December 2025 the charity had unrestricted funds of £2,711,087 (2024: £2,486,026).

Grant Making: The Jecda Foundation aims to select charitable activities to support from a wide range of possibilities. Each investment is the choice of one or more of the trustees, whose responsibility is to research the opportunity in detail. All grants require Board approval.

Investments: Investments are made with the view to capital maintenance in turbulent times.

Financial Review

Over the year the Foundation made charitable payments totalling £80,000 (2024: 80,000) to Volunteering Matters. It also made donations of a further £21,000 (2024: £3,000 to Book Banks). It received gross donations during the year of £63,438, including gift aid, from its principal donor (2024: £62,245). Overall, as a result of these moves and the gain in revaluation of the investment portfolio, the Foundation's reserves increased by 9% to £2,711,087.

Future Plans

The current focus is on growing the Grandmentors brand and spreading it further. The Foundation will also look to widen its support to other worthy concerns.

Statement of Trustees' Responsibilities

The trustees (who are also directors of The Jecda Foundation for the purposes of company law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

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Independent Examiner's Report to the Members of The Jecda Foundation

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 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

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 methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (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.

6th Floor 9 Appold Street London EC2A 2AP Date: 1 June 2026

Adam Fullerton (FCA DChA) Independent Examiner For and on behalf of Moore Kingston Smith LLP

The Jecda Foundation Statement of Financial Activities (incorporating the Summary Income and Expenditure Account) For the year ended 31st December 2025

Note Income from: Investments 2 Donations 3 Total income Expenditure on: Raising funds - Investment management costs Charitable activities 4 Total expenditure Net expenditure before gains and losses on investments Net gain on investments 7 Net movement in funds Total funds brought forward Total funds carried forward 10	Unrestricted Funds 2025 £ 39,945 63,438 103,383 6,735 106,356 113,091 (9,708) 234,769 225,061 2,486,026 2,711,087	Unrestricted Funds 2024 £ 31,215 54,745 85,960 8,492 87,362 95,854 (9,894) 294,112 284,218 2,201,808 2,486,026

All gains and losses arising in the year have been included in the Statement of Financial Activities and arise from continuing operations.

The notes on pages 8 to 11 form part of these accounts.

The Jecda Foundation Balance Sheet as at 31st December 2025 2025 2024 FIX Assets Investments 2 200 894 2.395.699 Current Asset5 Cash hpk1 with invetthient managers Oebt¢is". Amount5 1411[ftg dt wrthln on• year 497.525 94.872 17,34 $14,874 94,8n CuFr•DI Uabfjliti Credrtors. Amounts f•llirq d withln or y••r 4,681 N•t Gurrent Aluts ),327 Total Asmts l•ss Current Liabllltl 711 087 2 48S.CY28 Funds UnrastrKl¢4 r•¥•N•• 2.711.fy97 2.468,026 Tr• dir•¢tor•#Jie'. (•) For th• y•af ended 31 Dècemb•r 25 the eomp•ny wa8 •rdW•d to exemrthi unthr S•¢tlon 477 01th• ¢omp•nle8 Acl 2CKle Ibl No notk• from TSteel •n ha bMn tyt•d S•(ai¢41476 oflhe Ad X%)6. [¢1 Th• dire¢lors #cknowleie Iheir reWnsblht for. lil en•urmg th•t th• chirlatl• cornpeny k••p• xcrA#)lirg rnecfd•wti¢h comply Tmth 3e6 ofthe Conwng Act 20C6, •nd lil prfrwrlw finarKial thtem•nls %Yhi¢h gfve i true and fair ¥i•woflhe Slih olaflair¥olts charitatle ¢ompany • al e 4r of the IMrKi•I y¢ai, aTrJ prrt$ irKome ar%$ ¢xper%)fft k)rthe ye4r. in xcordanc¥ wrth th• rÈqulr•ments ol Se03 394 onil 39$ arCh COrnF4ywth requ¥Ments of th• Ctyrynl•• Ad relating lo accounts. $0 lar as 8pplILI• to th• critab CDmpJny. Idl The arnIS have l>opn WIre In iwoid•ru wth the 8Fth81 pro¥15iorf4 relalirqto comFIJrM wfthln Pirt 15 ol tTh• Cornponi•> Ad Ind in •¢eIJ¥tte wth thg FKov"orbs Oft Fjmrfftal Rertl1Vj si8nthrd 102 Th financAI *atem•nl% were aFwo¥•d •rnJ au1 fat on." 1 Juno 2026 nd ?vJne# on tn•ir bÈhaM ty.. e,Jfvd L¥dy Freud Tru•l• Lord F T¥uslee The notes on pages 8 to 11 form Fort ofltrwe w4mls. ¢thnpany nuwnber: 060J5•21

The Jecda Foundation Notes to the Financial Statements For the year ended 31st December 2025

1 Accounting Policies

The financial statements have been prepared on a going concern basis under the historical cost convention modified for the revaluation of listed investments which are accounted for at market value.

Accounting Convention

The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The company is a public benefit entity for the purposes of FRS 102 and a registered charity established as a company limited by guarantee and therefore has also prepared its financial statements in accordance with the 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 (The FRS 102 Charities SORP), the Companies Act 2006 and Charities Act 2011.

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 pound.

Going Concern

The trustees have assessed whether the use of going concern and have considered possible events or conditions that might cast significant doubt on the ability of the charitable company to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of the approval of these financial statements. In particular, the trustees have considered the charitable company’s forecasts and projections and have taken account of their charitable commitments. After making enquiries, the trustees have concluded that there is a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. The charitable company therefore continues to adopt the going concern basis in preparing its financial statements.

Income

All income is recognised when there is entitlement to the funds, the receipt is probable and the amount can be measured reliably. Where income is received in advance of meeting any performance-related conditions there is not unconditional entitlement to the income and its recognition is deferred and included in creditors as deferred income until the performance-related conditions are met. Donations are recognised on receipt. Gift aid is accounted for in the period for which the donation was included.

Expenditure

Expenditure is included in the Statement of Financial Activities on a accruals basis, inclusive of any VAT which cannot be recovered. 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.

Grants for specific purposes relate to transfers made to recipient organisations for the purpose of charitable activities.

Support costs are those incurred in the administration of the charity and are primarily associated with the constitutional and statutory requirements.

Costs of raising funds are those costs incurred in the external management of the charity's cash and investment portfolio.

The Jecda Foundation Notes to the Financial Statements For the year ended 31st December 2025

1 Accounting Policies (continued)

Fund Accounting

Unrestricted funds are funds which are available for use at the discretion of the trustees in furtherance of the general objects of the charity.

Investments

Investments comprise current equity investments and fixed interest securities held with UBS. Income from investments is credited in the accounts on the date of receipt. Listed investments are stated at market value at the year end. Any gains or losses incurred on the revaluation of investments are recognised in the statement of financial activities.

Financial instruments

The company has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Cash at Bank

Cash comprises of deposits with a maturity of three months or less and cash held by investment managers are shown under current assets.

Critical accounting estimates and areas of judgements

In the view of the trustees in applying the accounting policies adopted, no judgements were required that have a significant effect on the amounts recognised in the financial statements nor do any estimates or assumptions made carry a significant risk of material adjustment in the next financial year.

2 Income from Investments Income from listed investments Interest from cash deposits/bonds Foreign exchange (losses)/gains 3 Voluntary Income Donations Gift aid 4 Charitable Activities Grants paid Volunteering Matters H&F Bookbank Hestia Anna Fiorentini Theatre and Film School University College London Hospital Charity: Project Pure Hope Support costs Governance - Independent examiner's fee Other professional fees Bank charges	2025 £ 18,644 24,529 (3,228) 39,945 2025 £ 50,750 12,688 63,438 2025 £ 80,000 5,000 6,000 5,000 5,000 4,681 669 6 106,356	2024 £ 19,354 11,562 299 31,215 2024 £ 49,796 4,949 54,745 2024 £ 80,000 3,000 - - - 4,353 - 9 87,362

The Jecda Foundation Notes to the Financial Statements For the year ended 31st December 2025

5 Net movement in funds

This is stated after charging: Independent examiner's fee	2025 £ 4,681	2024 £ 4,353

6 Employees

The charity has no employees in the current and preceding year. The trustees of the charity are considered to be the key management personnel. The trustees were not remunerated during the current or preceding year.

7 Investments

Market value at 1st January Additions (including reinvestment of dividends and bond interest) Disposal proceeds Net gain/(loss) on investment Market value of investment portfolio at 31st December Cash account included in the portfolio Market value at 31st December Historical cost at 31st December (excluding cash deposits)	2025 Listed £ 2,395,699 873,358 (1,302,932) 234,769 2,200,894 497,525 2,698,419 1,620,100	2024 Listed £ 1,906,613 144,953 - 294,112 2,395,699 94,872 2,490,571 1,653,787

The investments which are considered to be material in the context of the portfolio comprise:

Fixed interest securities MoneyMarket Fixed Deposit BARC 2.5Y GBP TWIN WIN CPN MXWO Equities UBS (IRL) ETF Plc Ishares Plc	2025 Market Value £ 855,881 - - 1,345,013	2024 Market Value £ 144,953 431,800 295,214 1,523,732

The Jecda Foundation Notes to the Financial Statements For the year ended 31st December 2025

8 Debtors

8 Debtors Accrued income 9 Creditors Accruals 10 Statement of Movement on Reserves Balance brought forward Surplus for the year Balance carried forward	2025 £ 17,349 2025 £ 4,681 2025 £ 2,486,026 225,061 2,711,087	2024 £ - 2024 £ 4,545 2024 £ 2,201,808 284,218 2,486,026

11 Trustees and Related Parties

No trustees received any remuneration for their services and no expenses were re-imbursed during the year (2024: £Nil).

Donations were recorded for £50,750 (2024: £49,796) from trustee Lord David Freud during the accounting period. The amount claimed for associated gift aid is £12,688 (2024: £12,449 ).

Lord David Freud, a trustee of The Jecda Foundation, was appointed the President of Volunteering Matters in May 2019. During the year the charity donated £80,000 (2024: £80,000) to Volunteering Matters in relation to the Grandmentor Scheme.

12 Limited Liability

The Jecda Foundation is a company limited by guarantee and as such does not have a share capital. In the event of a winding up the liability of each member is limited to £1.