Docusign Envelope ID: 98B5D0C2-1 A9F-4E6C-83CC-B1 FEF 479B354
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Charity number: 1117919
LBM JEM CHARITABLE TRUST
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UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED5 APRIL 2024
Docusign Envelope ID: 98B5D0C2-1A9F-4E6C-83CC-B1 F6F479B354
LBM JEM CHARITABLE TRUST
CONTENTS
| Page | |
|---|---|
| Reference and administrative details ofthe charity, its trustees and advisers | 2 |
| Trustees' report | 3-4 |
| Independentexaminer's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notestothefinancialstatements | 8-12 |
Docusign Envelope ID: 98B5D0C2-1 A9F-4E6C-83CC-B1 F6F479B354
LBM JEM CHARITABLE TRUST
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 5 APRIL 2024
Trustees
Mrs Jane Harcourt Deutsch Miss Leah Rebecca Deutsch Miss Bronya Louise Deutsch Mrs Megan Deutsch-Leach Mr Ross Wyndham Badger
Charity registered number
1117919
Principal office
45 Pall Mall London SW1Y 5JG
Accountants
Hillier Hopkins LLP Chartered Accountants 45 Pall Mall London SW1Y 5JG
Independent examiner
Peter G Hakim 39 Borrer Drive Henfield West Sussex BN5 9FQ
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Docusign Envelope ID: 98B5D0C2-1A9F-4E6C-83CC-B1 FEF 479B354
LBM JEM CHARITABLE TRUST
TRUSTEES' REPORT FOR THE YEAR ENDED5 APRIL 2024
The Trustees present their annual report together with the financial statements of the charity for the 6 April 2023 to 5 April 2024.
a. POLICIES AND OBJECTIVES
The Charity is established for the purpose of the advancement of education and religion and relief of the persons in need, hardship or distress and other charitable purpose including (without limitation to the foregoing) the making of grants and subscriptions to other charitable bodies (the "objects').
The Trustees hold the income of the Endowment Fund to pay and supply the same in promotion of the objects in such manner as the Trustees from time to time think fit and in particular the Trustees shall have power to pay the said income to the Trustees of LBM JEM Charitable Trust for its general purposes, provided always that the Trustees shall be entitled to direct that all or part of the payment shall be applied for any one or more specified purpose.
Notwithstanding the foregoing trust income, the Trustees may at any time at their discretion pay or apply the whole or any part of the capital of the Endowment Fund in promotion of the objects in such a manner as they think fit.
a. GOING CONCERN
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.
a. CONSTITUTION
LBM JEM Charitable Trust is a Charity constituted by a Declaration of Trust dated 12th February 2007.
b. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES
The Trustees of the Endowment Fund shail be not less than four more than twelve in number and shall, as far as possible, (but without imposing any legal obligation in this respect) include a majority of persons connected with LBM JEM Charitable Trust. The power of appointing new Trustees is invested in the surviving or continuing Trustees.
c. RISK MANAGEMENT
The charity Trustees have considered the major risks to which the charity is exposed and have reviewed those and established systems and procedures to manage those risks. The Trustees consider the variability of investment returns on the investments to constitute the charity's major risk and continue to keep the investment portfolio under review.
TRUSTEES' RESPONSIBILITIES STATEMENT
The Trustees 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).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for
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Docusign Envelope ID: 98B5D0C2-1A9F-4E6C-83CC-B1 F6F479B354
LBM JEM CHARITABLE TRUST
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED5 APRIL 2024
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LBM JEM CHARITABLE TRUST (the ‘charity’)
| report to the charity Trustees on my examination of the accounts of the charity for the year ended 5 April 2024.
RESPONSIBILITIES AND BASIS OF REPORT
As the Trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the 2011 Act’).
| report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
INDEPENDENT EXAMINER'S STATEMENT
Your attention is drawn to the fact that the charity has prepared the accounts in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
| understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
| have completed my examination. | can confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
| 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.
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igned:
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Dated: o) 0! 28
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Peter G Hakim
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Docusign Envelope ID: 98BSD0C2-1 AOF-4E6C-83CC-B1 FGF 479B354
LBM JEM CHARITABLE TRUST
EE nn eee TRUSTEES’ REPORT (continued) FOR THE YEAR ENDED5 APRIL 2024
each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to:
-
e select suitable accounting policies and then apply them consistently;
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° observe the methods and principles in the Charities SORP;
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e make judgments and accounting estimates that are reasonable and prudent;
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e prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are 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.
This report was approved by the Trustees, on 07-01-2025 | 15:40 GMT and signed on their behalf by:
[—— KossSignedDodarby: -6204EE8435D 146A...
Ross Badger
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Docusign Envelope ID: 98B5D0C2-1A9F-4E6C-83CC-B1 F6F479B354
LBM JEM CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED5 APRIL 2024
| Unrestricted | Total | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| 2024 | 2024 | 2023 | ||
| Note | £ | £ | £ | |
| INCOME FROM: | ||||
| Donations and legacies | 2 | 20,000 | 20,000 | 15,000 |
| Dividends | 3 | 6,120 | 6,120 | - |
| Other income | 4 | 5,282 | 5,282 | 3,903 |
| TOTAL INCOME | 31,402 | 31,402 | 18,903 | |
| EXPENDITURE ON: | ||||
| Charitable grants | 3,000 | 3,000 | 24,000 | |
| TOTAL EXPENDITURE | 6 | 3,000 | 3,000 | 24,000 |
| NET INCOME /(EXPENDITURE) BEFORE INVESTMENT | ||||
| GAINS | 28,402 | 28,402 | (5,097) | |
| Net gains on investments | 8 | 1,812 | 1,812 | - |
| NETINCOME / (EXPENDITURE) BEFORE OTHER | ||||
| RECOGNISED GAINS AND LOSSES | 30,214 | 30,214 | (5,097) | |
| NET MOVEMENT IN FUNDS | 30,214 | 30,214 | (5,097) | |
| RECONCILIATION OF FUNDS: | ||||
| Total funds brought forward | 727,374 | 727,374 | 732,471 | |
| TOTALFUNDSCARRIEDFORWARD | 757,588 757,588 me |
727,374 |
The notes on pages8 to 12 form part of these financial statements.
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Docusign Envelope ID: 988B5D0C2-1A9F-4E6C-83CC-B1 F6F479B354
LBM JEM CHARITABLE TRUST
BALANCE SHEET AS AT 5 APRIL 2024
| 2024 | 2023 | ||
|---|---|---|---|
| Note | £ | £ | |
| FIXED ASSETS | |||
| Investments | 8 | 722,529 | 720,717 |
| CURRENTASSETS | |||
| Cash at bank and in hand | 35,059 | 6,657 | |
| NETASSETS | 757,588 | 727,374 | |
| CHARITY FUNDS | |||
| Unrestricted funds | 757,588 | 727,374 | |
| TOTALFUNDS | 757,588 | 727,374 |
The financial statements were approved by the Trustees on 07-01-2025 | 15:40 GmT and signed on their behalf, by:
( KossSignedDodaurby: ~6204EE8435D146A...
Ross Badger
The notes on pages 8 to 12 form part of these financial statements.
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Docusign Envelope ID: 98B5D0C2-1A9F-4E6C-83CC-B1 F6F479B354
LBM JEM CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
- ACCOUNTING POLICIES
1.1 Basis of preparation of financial statements
The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair’ view. This departure has involved following the Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
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 have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and Charities Act 2011.
LBM JEM Charitable Trust constitutes a public benefit entity as defined by FRS 102.
- 1.2 Income
All 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.
1.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Charitable activities and Governance costs are costs incurred on the charity's educational operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities. Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
- 1.4 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless fair value cannot be measured reliabily in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading ‘Gains/(losses) on investments’ in the Statement of financial activities.
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Docusign Envelope ID: 98B5D0C2-1A9F-4E6C-83CC-B1 F6F479B354
}
LBM JEM CHARITABLE TRUST
a rm mmm me eee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
1. ACCOUNTING POLICIES (continued)
1.5 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.
1.6 Cash at Bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
1.7 Financial instruments
The charity only has financial assets and financial 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 with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
1.8 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
- INCOME FROM DONATIONS AND LEGACIES
| Unrestricted | Total | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| 2024 | 2024 | 2023 | ||
| £ | £ | £ | ||
| Donations | 20,000 | 20,000 | 15,000 | |
| Total2023 | 15,000 | 15,000 | ||
| 3. | INVESTMENT INCOME | |||
| Unrestricted | Total | Total | ||
| funds | funds | funds | ||
| 2024 | 2024 | 2023 | ||
| £ | £ | £ | ||
| Investmentincome | 6,120 | 6,120 | - |
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Docusign Envelope ID: 98B5D0C2-1A9F-4E6C-83C-C-B1 F6F479B354
LBM JEM CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED5 APRIL 2024
4. OTHER INCOMING RESOURCES
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2024 | 2024 | 2023 | |
| £ | £ | £ | |
| Bank interest received | 282 | 282 | 153 |
| HMRC refund- gift aid | 5,000 | 5,000 | 3,750 |
| 5,282 | 5,282 | 3,903 | |
| Total 2023 | 3,903 | 3,903 | |
| ANALYSIS OF GRANTS | |||
| Grants to | |||
| Institutions | Total | Total | |
| 2024 | 2024 | 2023 | |
| £ | £ | £ | |
| Grants | 3,000 | 3,000 | 24,000 |
| Total2023 | 24,000 | 24,000 |
5. ANALYSIS OF GRANTS
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Docusign Envelope ID: 98B5D0C2-1A9F-4E6C-83CC-B1F6F479B354
'
, |
LBM JEM CHARITABLE TRUST
a a A a NS EEE i (-— ce nw NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024
| Donations were to the following Institutions: | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Action Aid forAnimals | - | (500) |
| Animal Asia | - | 500 |
| Build Africa | - | (1,000) |
| Compassion in World Farming | - | 500 |
| DEC for Pakistan Appeal | - | 3,000 |
| DEC Turkey Appeal | - | 5,000 |
| DEC Ukraine | - | 2,000 |
| Deafkidz Int | - | 500 |
| Dignity in Dying | - | 500 |
| Feed the Minds | - | 500 |
| Flying Seagull Project | - | 1,500 |
| IMET2000 | - | 1,000 |
| Int Justice Mission | - | 500 |
| Jack Kelly | - | 2,000 |
| Link Education Int | - | 500 |
| Lotus Relief Charitable Trust | - | 500 |
| MAP | 3,000 | 2,000 |
| Medicins Sans Frontiers UK | - | 500 |
| PDSA | - | 500 |
| Peace Direct | - | 1,000 |
| Royal Osteoporosis | - | 500 |
| Sight for Life | - | 500 |
| StMartines in Fields | - | 1,000 |
| St Mungo's | - | 1,000 |
| Total | 3,000 | 24,000 |
6. ANALYSIS OF EXPENDITURE BY EXPENDITURE TYPE
| ANALYSIS OF EXPENDITURE BY | EXPENDITURE TYPE | ||
|---|---|---|---|
| Other costs 2024 £ |
Total 2024 £ |
Total 2023 £ |
|
| Donations | 3,000 | 3,000 | 24,000 |
| Total2023 | 24,000 | 24,000 |
- INDEPENDENT EXAMINER'S REMUNERATION
£The500).Independent Examiner's remuneration amounts to an Independent Examination fee of£ 500 (2023 -
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Docusign Envelope 1D: 98B5D0C2-1A9F-4E6C-83CC-B1 F6F479B354
LBM JEM CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED5 APRIL 2024
8. FIXED ASSET INVESTMENTS
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Unlisted
securities
£
Market value
At 6 April 2023 720,717
Unrealised gains/(losses) on investments in year 1,812
At 5 April 2024 722,529
Investments at market value comprise:
2024 2023
£ £
Unlisted investments 722,529 720,717
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All the fixed asset investments are held in the UK
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