THE JIMMY DIXON CHARITABLE TRusr ACCOUT4TS FOR THE YEAR ENDED 31 JULY 2024 Regisiered Ckngrlty Nllmber: 1130915 Hentons ChArt¢rtd Aecountant$ Stog House Old Londvn Rogd Hertford SG13 7LA
THE JIMMY DIXON CHARITABLE TRUST FINANCIAL STATEMENTS FOR THE YEAR EIYDEDJI JULY 2024 Page Key Personnel and Advisors Tru5tets' Report Independent Examination Report Stat¢ment of Finllnciol Activities Balanee Sheet Notes lo the Finon¢i&l Stalcm¢nts 8-12
THE JIMMY DIXON CHARITABLE TRUST KEY PERSONNEL AND ADVISORS TRusfEES D Prati C Whdd ITr¢a$urer) R Ferguson N Wilkie (Choir) K WilliBms (Secretary) R Holben CHARITY NUMBER 1130915 PRINCIPAL OFFICE 43 Wolsey Driv¢ Kingston KT2 5DP INVESTMENT ADVISORS Sarasin & Path¢rs Juxon House 100 St P8ul$ Chuwh Yard London EC4M 8BU BANKKRS CAF Bank Lin)iied 25 Kin8s Hill Avenue KTrngs Hill West Malling Keni ME194JQ ACCOUNTANTS Hertlons Chartered Accourttartts Stgg Hous¢ Old London Road Hcrtford SG137LA Page I
THE JIMMY DIXON CHARITABLE TRUST TRUSTEES. REPORT (For the purposes olset¢ion 45 ofihe Charitle5 Act 1993) The TTU51e¢$ havc plca5ure in prescnting their Annual Report and Financial Siaternents of the Charity for Ih¢ y¢ar ended 31 July 2024. The finan¢ial $iatemenlS have been ppared in accoTdanc¢ with ihc accouniing policies sei out in note l 8rtd comply with the charity's declaration of tn15t, the Charities Act 2011 and AccouDtinÉ and Reporting by Chariti¢s.' Statement of R¢wmmended Praelice IsecoDd edition) and Fithancial Reporting Standard FRS 102. CONSTITUTION AND OBJECTS The jiMY Dixon Cliarltable Ttust is an uniDGorporated ÈrusL constituled under a declaration of trust deed dat¢d 5th April 2006. Th¢ charity aGhi¢ved charitable slaty$ on 3rd August 2009 and its r¢gsStered charity number is 1130915. The Tnjst Fund is held upon trust to apply the ittcome {or such part or part5 of th¢ in¢ome) to educate boyg and young men and girls and young women Tesident in England and Wales. through their Icisure time activities so as to develop iheir physical. mental and spiritual moral 2nd cultural rapa¢ilies that thEy may 8row lo fijll malurily a5 individu&ls and members of so¢ieiy and th81 thcir condition$ of life may be improved and in particular to support charitable and other bodies operaiing in the field of youih work provided that the TNslees shall also have th¢ power in Iheir ab501ute discretion to from lime 10 lime apply lh¢ wtLole or any part or parts of the capital of the Tn]st fund for such charitable purposcs. The Trustees were particularly keen to devclop proje¢i$ that involvc young peoplc in (he leadership and running of youth activilies and in parlnership with oiher charitsble bodies the Trustees have con¢inued to fund London Wbde projects to cncouT8ge young people to take atl a¢iive part in the mnnin8of th¢irtlub and to encouT)ge and Irain Youth L£aders to support them ID this endeavouT. ORCANISATION The trustees who hav¢ served during the year and to the date of approval of these aceounts are as follows.. D Pratt C Wadd-Tr¢gsurer R Ferguson N Wilkse- Chair K Williams- Scrret8ry R Holben The statutory p)wers of appointhng new and Additional ITUStees the TTU51 Shall apply. New TTUSte¢5 will be prtsvid¢d wittl the Dr¢laralion of Trust, the Trust's mosl recent fJnan¢ial 51atemcnts atsd the minutes of preYjou5 TTU51¢e$ meeting5. In addition, new fFUSt¢es will be ked lo familiarise ihem5clves oth the dutlC5 and ttsponsibililies of Trust¢e$ &% provlded in guida¢ noi¢$ issued by th¢ Charity Commission. 1¢ is with deep sadnes3 we mark the deaths in 2023 ond 2024 T¢spe¢lively of two ofour remarkabl¢ founding trust¢¢s. Terry B1h nd Dav¢ HAlchArd. Both Terry and D8ve made an incredible contribution lo the Jimmy Dixon Trust before and sin(% its inception. and the impact th<y had on young Londoners will b¢ f¢lt forgen¢raiions. The ¢urr¢nt Trllslecs ar¢ ¢xtremely gratcfyl for their iniiial vision and on8oing passion for the work of th¢ Tna5t. GRANT MAKING POLICY The Trust his established its grant making policy to achi¢ve its objects for public benefi(. The Trust consid¢rs application5 for funding of charitable CAu$e5 whiGh ar¢ r¢vi¢wed by the truslee5 and llds made available at the absolute discrction of lh¢ charity. INVESTMENT POWERS Under the trust deed the charity has the p)wer to make any invesim¢Dts which th¢ trustees Shall in th¢ir absolute dis¢r¢tion thir fit undeT the Trustees Act 2000. Pa8¢ 2
THE JIMMY DIXON CHARITABLE TRusr TRUST&ES¥ REPORT (CoDtlllu¢d) ACHIEVKMKNT OF PERFORMANCE Durirbg IhE ye#r io which these arrDunts r¢lale the Trusl paid two annual grants from ils eommitm¢nl madE in the previous year to the Federation of London Youih Clubs (London Youth) of £54,164 and £56,295 of whiGh £8,00118nd £8,240 r¢5P¢Ctiv¢ly were for memberyouth club5, and paid via London Youth for administrative reasons. £94,219 wa5 granted to London Youth to support 4 nutThb¢r of its pwj¢¢ts supporting members ambassadors, advistsT5 aDd alumni. The aims of th¢ funding are thal.. Members can deliver fantsslic communtty youth work as a result of dir¢¢tly involvin¥ yDUtI8 p¢ople in thEirorgani•tions. Young pcoplc arc visible wiihin Ihc wid¢T 5CCtor and beyond, with Iheir voices heard and in positions io i1)fluen change. Young peopl¢ are a key part of London Youth- regularly involved in dClopMEnt and deci5ion-making. Youn8 peoplCwl have been p8rt of iKndon Youth's involvement work r¢mairt ¢onn¢¢¢¢d corttrit¢ to ¢hang¢. Th¢ long¢rt¢rm aims of the charity are that m¢aningful Tn¢ihods 4re embcdded that enable passionate and well supported youn8 people to ¢r¢a¢e impact ch8nge- across London Yollth, its membership neiwork. the wideryouth sector and beyond. and thai London Youth is recognised by organisations and llderS as leadinE on exemplory youth involvement. In July 2023, the TnLS(88rted an aw8rd to London Youth tallit8 £168,803. over three yettts commencing durin8 the Thist's next financial year. The first two annual amounts werc paid in this financial year. Th¢ charity ha5 r¢f¢rred to the guidan¢¢ contaiiJ¢d in the Charity CommissRon'5 general guidance on public benefit when revjcwjn8 its aims and objcclives and plannin8 Its future a¢livilies. In p8rti¢ulaT the TTU511%5 wnsid¢r how planned activities will eontribute towards the aims and obj¢ctiv¢s thai ar¢ set out above. FINANCIAL REVIEW In the year ended ]1 July 2024 the charity had net itlcome and movement in funds for the ye8rof £162,356 {2023'. n¢t expeTrditure Hnd movemetsi in funds of £217,905) which increased unr¢51rict¢d thnds held at the year end to £1.642.580 {2023.. £1,480,224). INVESTMENT PERFORMANCE The charity has an investment portfolio at market Value of £1.668,278 as at 31¥ July 2024. see nok 5 to the accounts and has delegated investment mana8ement lo Sarasin & Partn¢rs. its appointed advisors. Wiihirt th¢ ycar there weTe unre&lised and realised gains of £114,403 which resulted in an increa5E of capital value otl Knvestmcnts to £1.068.278. Durkn8 Ihe year, investment income receivable increased from £56,293 to £57,421. RESERVES It is the policy of the Trnst 10 mainlain unr¢siri¢ied funds, which are the free reserv¢5 of the Trust at a level which enables the Trust to meet its mand8emeni and adminislraiion ¢ost$ and to be able io r¢spDnd io approved appli¢atlOll5 for grants which arise from tirn¢ to tirne. RISK MANAGEMENT The InJstCC5 are awarc of the requirements under thc Charjties SORP (o identify and mitlgale major risks faGed by the org#ni5alion. Aceordingly the Tru5tee5 undertake #n annual review of risk lo which thc charity is exposed. Aelion or tolerance is agreed and documented in the minutes. A¢tions are tra¢ked throu8h at ihe next sllb$equent meeting5. Where appToprial¢, regarding 5pccific ri5k5. profe59Lonal advicc is sought. Trusttts are content that thi5 approa¢h is pragmaiic and proportÈonate. ASSETS APID OBLIGATIONS The n¢t assets of the irusi Are &v&ilAble And ad¢quAi¢ to fulfil its obligation5. Page 3
THE JIMMY DIXON CHARITABLK'fRUST TRUSTEES, REPORT {Contlnu¢d) TRUSTEES. RESPONSIBILITIFS Ir4 RELATION TO THE FJNAIYCIAL STATEMENTS Th¢ charity trustees arc r¢sponsible for pr¢paring a Trust¢e$' Annual R¢pDrt and the financial stalemrnts IN accordonce with applicabl¢ law and Unii¢d KingdoTn AGcounting Standards (United Kin8dom Genwally Accepted A¢counlin PraGliccl. Thr law applicable to tharilies in England and Wales requires the trusiees to prepare fin8nci&l stAtemellts for each ye&r which give a twe and fair vi¢w of Ihe stale of affairs of the Gharity and of the incoming resources and applicalion of resources of the chNTity for that period. In preparing those financial s¢al¢ment5 th¢ truslees are required to.. sele¢1 Suitable accounting poli¢i¢s and thEn apply them consistently; observe the meihods ad principles in ihe applicablc Ch31ilie5 SORP. make judgements attd e51ymal¢s that are reasonable and prud¢nl', stat¢ whetherapplicable aceountillg stsndards have been followed, subjeel to any mal¢rial (kpartur¢s that must be discloscd and explained sn the finan¢ial statetnen¢s; prepaT¢ the financial stat¢ments on ¢h¢ going conc¢H) basis unless it 15 Lnappropriate to Assume that the charity will continue itl operntion. The Trustees are responsible for keepin8 propEr #¢collnling records that disclos¢ with re&sonabl¢ a¢¢uracy at ony lime the financial p)sition of the ¢harily and io enable them to ertsure that the financial statemenfs comply wilh the Charities Act 2011. th¢ applicable Charity (Accout5 and Reports) Regulations and the provisions of ihe trust deed. They are responsibk for safcguardingthe a5s¢ts of the charity and iaking reastsJ)able sleps for the prevention and dcte¢tion of froud and other irregularitieg. SIGNED OTrI BEHALF OF THE TRusfEES N Wilki¢- Chair Dale-. 2L,'2J Page 4
THE JIMMY DIXON CHARITABLI TRUST INDE4 PENDErNT CIXAMINEI R'S RE4 PORT I report to the tnistees on iny exainiiiatson of the financial stateinents of Tlie Jiinmy Dixon Ti'ust for the yeai. ended 31 July 2024 which coinprise of the Stateinent of Financial Activities, the Balance Sheet and IElated iiotes. This repoi'l is made solely to the chai'ity's trustees, as a body, iii accordktiice witli the sectioii 145 of tlie Charities Act 2011. My woi'k has beeii iiiiderlaken so that I Imiglit State to tlie chai'ity's trustees tliose inatters l ain IEqiiiied lo state to thein in this rcport and foi. no otlier piii'p05e. To the fullest extent peiinitted by law, I do not accept or assuine JEsponsibility to anyone othcr than the charity and the charity's ti'ustee5 a5 a body, foi. Iny work, for this Teport, oi. for the opiiiions I have forined. REISPONSIBILITIES AND BASIS OI", REI PORT As the trustees of the chai'ity you are iesponsible for the pieparation of the financial stateinents in accordance with the requiiEinents of tlie Chai'ities Act 2011 (the Act'}. I report in respect of Iny examination of the charity's financial statements carried out under section 145 of the Act and in Cari'ying out Jny exainination I have followed all the applicable Directions given by the Charity Coininission under section 145(5)Ib) of the Act. An independent exaimination does not involve gathei'ing all the evidence that would be i'equii'ed in an aiidit and coiiseqiienily does not ¢over all the Inatters that an aiiditor considei's in giving their opinion on the financial slateinents. The planiiing and condiict of an audit goes beyond the limiled assurance that an independent exait)ii)ation can pi'ovide. con5eqiieiitly l expTess no opinion as to whether the financial statements present a 'true and fair, view and iny iepoit is limited to those specific Inatter5 set out in the independent exaininei-'s stateinent. INDEPEINDENT EIXAMINER'S STATEMENT have ¢oii)pleted Iny exainination. I confirm that no material Inatte15 have come to iny attention in connection witl) the examination givii)g Ime caiise to believe that in any mateTial respect.. accouiiting iECOI'd5 wei'e not kept in Tespect of tlie charity a5 requiiEd by section 130 of the Act- or
tlie financial stateiiients do not accord with tliose recoi-d5' 01. tlie financial stateiiient5 do not coinpSy with the applicable requii'ements concerning the foi'm and content of accounts set out in the Charitie5 (Accounts and Report5) Regulation5 2008 other thali any iEquiiEment that die accounts give a'tru¢ and fair, view which is not a Inatter cojisidered as pait of ai) independent exainination I have no concerns aiid have come across no other Inatters in connection with the ¢xainination to which attention should be drawn in tliis repojl in ordei. to eiiable a proper undei'5tanding of the finaiicial staten)ents to be reached. Sean W Hudson ACA Hentons Chartered A¢¢ountants Stag House, Old Loiidon Road, Heriford, Herls. SG13 7LA Date: 6 FLbiL•(i(y 201 Page 5
THK JIMMY DIXON CHAIUTABLE TRUST STATFMKNT OF FINAIYCIAL AcfiviTIES FOR THE YEAR ENDED 31 JULY 2024 Total Fund$ 31.7.2024 Totsl Fund$ 31.7.2023 ITrICOME Investment intom¢ 57,421 56,293 Totll In¢om¢ £57.421 £56,293 EXPENDITURE Ittvt5tment manager's f¢ts 6028 5,893 Charityble Aetlvitie8: Cost of gTant making 2h40 220,604 Total Expendllure £9.468 £226.497 Ineome l (Expendiknre) and net movement irt fknnds for the year btfoTe gAin$ ind losses on invt5tm¢nts 47,953 (170,204) Net gainsl(1055C5) on investments 114AD3 {47.701) Net Ineomel{Expendltur¢) gnd movement In fvnds for the ye¥r 162,356 (217,905) Balances brought fonv8rd IA80.224 1,698,129 B%lances t8rrled forwllrd as 9t JI July 2024 £1,642,580 £1,480,224 The total fvnds are all unrt61ricled and relate to continuing a¢tivi¢ies. Poge 6
THE JIMMY DIXON CHARITABLE TRUST (Charity number 1130915) BAIANCE SHEET AS AT 31 JULY 2024 JI Jul 2024 31 2023 Notes TANGIBLE ASSETS: Investments 1,608378 1.561.998 CURRENT ASSETS: Debknrs Cash at bank and in hand IlJ14 23.914 11,646 77,783 35,228 B9,429 CREDITORS: AThounls falling due wiihin one year (60,926) (56,564) NET CURRENT (LIABILITIESIIASSETS: (25,698) 32,865 CREDITORS: Amounis fallin8 due after more than one year (114,639) PIET ASSETS: £1,042580 £1,4BO,224 FUNDS: Unr¢stri¢ted Fund5- GetterAI £1,642,580 £1,480,224 Approved by the BoArd of Truslet5 and auihorised for issu¢ on behalf of ihe Thislees.. N Wilkie- Chair C Wadd- TreasuT2r.................. Dal¢ 22,'lJ Page 7
THE JIMMY DIXON CHARITABLE TRUST NOTES IY) THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 ACCOUNTING POLICIES Bos18 of preyaratlon ind Asse55metht of going concern The Finan¢ial Statcments have be¢n prepared under the historical Cost convention Wth iiems recognised at C05t or transaction value unless otherwise stated in the r¢levani notes to these financial slalemcnls. The rinancial siatements have been prepwed in a¢¢ordan¢e with the sc¢ond edilion vf the ChaTlties Statement of Recomrnended Practice issued in O¢tober 2019, Ihe Financial Reporting Stand4rd applicable in ihr Unilcd Kingdom 8nd Republic of Ireland (FRS1021 and th¢ Charitie5 A¢t 2011. Th¢ fiThaMciY41 stotrments h&ve been prepaTtd to give a 'trU¢ ond fair. view and have departed from the Chariti¢s (A¢counts ond RepDrts) Regulations 2008 ¢Jrtly to the rxten¢ r¢quirEd to provid¢ a 'truG #nd fair. view. This dcparture ha5 involved following the Accountin8 2nd Reportin8 by Charitie5 pr¢paring th¢ir a¢coullt5 in accordanc¢ with the Financial Reporting Standard appli¢ablc in th¢ UK and Republi¢ of [re1)d IFR5102) issued on 16th July 2014 rath¢r than the AGGounting #md Reporting by Charities.. Stai¢ment of RecoTtLmended Practice effcdivc from 1st April 2005 which has since becn withdrawn. Th6 Charity ¢onsiilut¢5 a public entity defined by FRS102. Th¢ Trust¢¢s wThsid¢r ihai thcre are no mateTial un¢ertainiies aFM)ut th¢ ability to ¢ontinuE as a going ¢on¢¢m. JudgenJ¢nt8 And key sou¥¢e5 of estimgtlon un¢ert#irtty The PTtpara¢ion of th6 finAncial swtwneThts requires managemeni to make judgements, ¢stimat¢s ond assumptiotts thal affeei ihe a&ttts reported for assets and liabiliti¢s a5 at the balance sheel dal¢ and the Amounts reported for rev¢nues and ¢xpcn5¢s during the year. The naillre of ¢51imation mean5 that actual outcoTnes could differ from those estimates. Ther¢ w¢ie no judgements whi¢h hayc had a SignifinI effect on aynout)Ls recognised in lh¢ financial stalemcnts. Going contern At the time of apptoving ihe firtancial 51at¢menlg the trustee5 heve a reasonable cxpectation Ihat the charity has adequaLe resource5 to continue in operational exi5t¢nce for the foreseeabk future. Thus, Ihe TTUS*¢S have adopted the going concem basis forthc pr¢paT&tion of the finan¢i8] statements. On the date of the finBJJcig1 statemcnis approval, th¢Te 1$ great uncertainly surrounding th¢ global economy and impact of the ¢onflicts in Ukraine and the Middle East. The truslecs consider that th¢ charity is fjnancsally robust and ihat ils opeydlions will not be adversely affected by Ihc Continued uncertainty from thi5 event. The truste¢$ continuou$ly monitor thc £hyrity's inv#$tmeNt portfolio and cost base for #ny significant movements and arc well pl8ccd to take action if de¢m¢d neces5Hry in PTOt¢cting stakeholders interesi should the period of ncerlainty continue for longer than expected. Expenditure R¢cognitio Liabilities are recognised as expetlditure AS soon as there 15 a l¢g81 or eon5tru¢tive obliga¢ion committing the charily to the cxpendithre, it is prob&ble that settlement will be tequired 8nd ihe amount Of obli&ation can b¢ mea5ur¢d reliably. All ¢XpendItU is 8CLY)unied for on an accruals basi5. All ¢xpense5 51J¢ludkng wpport cosi$ and 8ovemance costs ar¢ allocAted or appoTlioned to the applicHbl¢ ¢xpenditure he8dillg$. Grant$ payable are payrn¢nis made to ihird pgrties in the furtherance of the charitabl¢ ¢bjectiV¢5 of th¢ trust. In the ¢as¢ of an unconditional grant offer this 15 8¢¢Ned onc¢ the r¢cipi¢nt has beets nolified of the gTWIt awArd. Grani awards Ihat are 5ubj¢¢t to the r¢¢ipietLt fulfilling p¢rfomiancc condition5 ar¢ only accrued when the T¢cipicnt been notified of the Brant and Èny remainin8 unfvlfilled condition 3ttachinB to that granl IS outsid¢ the control of the Tru$t. Page 8
THE JIMMY DIXON CHARITABLE TRUST NOTES TO THE FINANCIAL sfATEMENTS FOR THK YKARENDED31 JULY 2024 ACCOUNTING POLICIES- eontlnu¢d In¢orne reeognltlo All ineome is r¢¢ognised once the charity has ¢ntillement to the income. it 15 probable that the income will bc received and the amount of income CeiVable can be mSUred reliably. Interest on fund5 held on d¢posit is included wh¢n receivable and the amount Can be mSUred by the charity- this is normally upor) notification of the interest paÉd or payable by the batsk. Dividends are reeogrtised on¢e the dividend has been declarcd and notification of th¢ dividend due ha8 been receivcd from OUT iDveslmenf advisor. ITrecoverablt VAT ITr¢coverable VAT is ¢harged agaiTLSi the expenditure heading for which il was inturrtd. Funds $tru¢tur¢ Funds he]d by th¢ charity are unrestricled g¢neral funds. These 4LTe fund5, whiGh ¢8n be used in accordance with the Lharitable objeclives at the discretion ofihe trustees. Charitable a¢tlvlllÈs Costs of charitable a¢tiviti¢s eompri5c grants payable and governance cost$. AllocAtion of govern4#ce cost8 Gov¢Thdnce costs relatin8 kn chaTii#ble 2Ctivitie5 are apportiorted based on the number of individu81 grant awards made. These costs include ¢ho$¢ ¢o$ls associated with m¢¢iing the CODslitulional and 51a¢u¢Ory rcquircmcnts of ihe charity and include the Ind¢ptnd¢ni Examination fec. Fixed Ass¢t Inve8tment5 lrtvesim¢nts are A fonn of b10 finan¢iol instrument Ind ar¢ initially m¢asuTed at their tran5a¢lion valu¢ and subsequently rn¢asud at iheir fair value a5 at lh¢ balance sheet date using th¢ closing quoted markel price. The Stat¢sn¢llt of Financial Aclivitle5 inGludes the nel gains and1055cs aTiSiJ)g oll revaluAtion and disposals throuÈhout ihe year. Thc TTLlSt do¢s noi ftequire put option5. deriv8lives or other complex finanrial instwmenls. The main fonn of finan¢i&l risk faced by the ¢harity is that of volatility in equity markets and inveslmenl m#rk¢ts due to wider economic conditions and. Ihe artithde of investojs to investment. ReA115eil Goth9 and knseb All gair55 and-5osses are iaken to the Ststemenl of Activity as fhcy aTiS¢. Realised 8airt$ and1055e5 on inve5ttn¢nts are calculated as the diff¢r¢n¢¢ betwccn 5alc5 proce¢d5 and their opening clg value or their purchll5e value if Acquir¢d subsequent to Ihe first day of the financial year. UnreAlised gains and105ses we calculated as the difference bdweert th¢ fairvalue at the year ¢nd theirwryiTh8 value. Reali5ed and unrealised gains and Sos$e$ 2T¢ L7)mbincd in thE Statement of Activitie5. Debtors Trade and oih¢r debtors arc reco8nised at th¢ 5cttl¢ment amount duc after any trad¢ discount offered. Pr¢p8yments are valued ai the amount prepaid net of w)y trsde discount due. Cgsh at bank and in h2nd Cash ot bgnk and cash in hgnd includ¢s cash and short t¢mi hi8hly liquid inveslrrlents that ar¢ i¢adily conv¢rtibk to known amounts of ¢ash artd are subject to an insignificanl risk lo ch&n8cs in value. Page 9
THE JIMMY DIXON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THEYEARENDED31 JULY 2024 ACCOUNTING POLICIES- Continued Credilors 4Dd provijlons Cr¢dilor5 and proviSLon5 ar¢ recogn55¢d whcre the charity has a present obligation r¢5uliing from a p)st evcTrt that will probably result in th¢ transfer of funds to a third party and ihe amount due to scttlc the obligalion ¢an be mcllsur¢d or estimated reliably. CreditQf5 and PTOV15iOnS are nornially recognised at theirs¢ttl¢ment aTnounl after allowin8 for any Iradc discounts duc. FimAncIHI instrnments The charity only h&8 fjnanciil &sscts and finfyncilll IiAbilities of a kind that Qualify as basic financial inslnjments. BlC fin)ncial instruments are iniii3lly recognised at tran5a¢¢ion value and sub5equ¢ntly measuTcd at amonisEd rosi using the rff¢Ltive inl¢reit mclliod. Financial ass¢ts held at amorliscd costs ornpris¢ debtors and ¢ash at bank and in hand. FiThancial liabilities held al amortis¢d ¢osls comprise other creditor5 and accruals. Investments held a5 Pert of an inv¢stmenl portfolio are held Ai fair valu¢ os at the Balance 5h¢¢t date with gains aDd1055es being Tccognised through income and ¢xpenditu As at the Balathce sheet date Ihe, the ¢h3rity had finan¢ial assets held al fair value through incomc artd ¢xFnditure of £1,688,278 {2023= £1.561,998). INVESTMENT INCOME TotAI 2024 2023 Income from lislcd invesllxents- Global equili¢3 and common inv¢sim¢nt funds 56?60 55,533 Olhw interest Te¢¢ivable 1,061 760 157 421 £56 293 AP4ALYSIS OF CHARrrABLE ACTIVITY GRANTS PAYABLE 2024 2023 Th¢ charity undertskes its ¢h8ritablc activities ihrough 8raiit making and awarded grnnts in the y¢arto the following instiMtion: The Fed¢ralion of London Youth Clubs.. Support for Youih involv¢m¢nt projects and Youth Club$ 218.144 £218 144 No 8rants were paid to individu415 ln the period P8gc 10
THE JIMMY DIXON CHARITABLE TRusr NO'I'ES TOTHE FINAP4CJAL STATEMENTS FOR THE YEAR ENDED31 JULV 2024 ANALYSIS OF CHARITABLE ACTIVITY- tontinued Funded from uThre5tr5¢ttd rtserves Gront funded Actlvity CoverrLan¢e Cosls Support Cost5 Totwl 2024 To¢41 2023 Education 2,580 60 1640 220,604 60 2.640 220 604 Oiher wpport eost5 compTi$e of Bank charge5 only (2023 Support cosls. Bank char8cs £60). GOVERNANCE COSTS Total 2024 2023 IndependcJ)¢ ¢xaminatLQn'. Current year Indepcndcnt ¢xamination fee 2.400 FIXED ASSET INVESTMENTS Listed Inv¢$tments 2024 2023 MaTkel valve at 111 Au8ibsI 2023 ,546.851 1.594552 Additions in ihe year 911.867 Disposals in the year (907.514) Net movement gaIn(lOS$e5I 114,013 (47,701) Marfcct valuc at 31$ July 2024 C&5h held by inyeshnettt managers for investmeni J,665,217 3,061 1,546,851 15.147 1668 278 561998 Cost of li&ied investments al 31 July 2024 £1 04756 £1 128 138 Listed inY¢51m¢Thts at market value cornprise.. 2024 2023 Gl¢)bal Equities Commort lttveslment Fund5 Cash hcld by Inv¢slm¢nt managers 677,145 869,706 15,147 1.665.217 3,061 78 £1561,998 Pasell
THE JIMMY DIXON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THK YKARENDED3J JULY 2024 DEBTORS 20240 2023 Prepayments and accrued ittcome IlJ14 11,646 £11 £11646 CREDrroRS: Amounts folling due within one year 2024 2023 Grants pay8ble Accruals 58J44 1580 54,164 2,400 £60.924 CREDITORS: Amoun15 falling due after mor¢ than oncyear 2024 2023 Gr&nts p8yablE 114.639 £114639 TRUSTEES REMUNERATION AND EXPEP4SES Dllring thc p¢riod t)0 trustee Te¢eived any remuneration orwas reimbursed any expSe5. 10 RELATED PARTY TRANSAcrior4S DuTiDg the prior year the ¢harity approved grants payable to The Federation of Londoll Youth Clubs, then a Corporate tiustee to tlir charity, amountirtg lo £218,144. As at 31° July 2024 £58.34412023.. £168.803) of the gr$¢5 T¢mained outstandin8 to b¢ paid. The Federation of London Youth Clubs r¢si8ned a5 a coryoraie trust¢¢ of Ihe charity on 24th M 2023. STAFF COSTS The Trust doe5 not have aThy employee5. Page 12