## THE J VAN MARS FOUNDATION
## **Trustees’ Report**
## **and Unaudited Financial Statements**
for the year ended 31 May 2024
**Registered Charity Number 1131389**
## **THE J VAN MARS FOUNDATION**
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024
## **INDEX**
||**Page**|
|---|---|
|**Charity information**|**1**|
|**Trustees’ report**|**2**|
|**Independent auditor’s report**|**4**|
|**Statement of financial activities**|**7**|
|**Balance sheet**|**8**|
|**Statement of Cash Flows**|**9**|
|**Accounting policies**|**10**|
|**Notes to the financial statements**|**12**|
## **THE J VAN MARS FOUNDATION**
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2022
## **TRUSTEES’ REPORT**
## **Trustees**
Mr G R Berryman (Settlor) Mr J M Buckland (Settlor) Mr W Champion (Settlor) Mr C A J Martin (Settlor) Mr P D Makin Ludlow Trust Company Limited
## **Principal office**
Ludlow Trust Company Limited Tower Wharf Cheese Lane Bristol BS2 0JJ
## **Registered charity number**
1131389
## **Independent auditors**
Blue Spire Limited Cawley Priory South Pallant Chichester West Sussex PO19 1SY
**Page 1**
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024
## **THE J VAN MARS FOUNDATION**
## **TRUSTEES’ REPORT**
The trustees have pleasure in presenting their annual report for the purposes of the Charities Act 2011, together with the accounts for the year ended 31 May 2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.
## **STRUCTURE GOVERNANCE AND MANAGEMENT**
The J Van Mars Foundation is a registered charity constituted under a trust deed dated 10 July 2009, and registered as a charity 27 August 2009.
The trust is controlled by the trustees. The power to appoint and remove trustees rests with the settlor trustees during their lifetime and subject to this is exercisable by the trustees from time to time.
On agreeing to become a trustee of the charity, the trustees are thoroughly briefed by the existing co-trustees on the constitution of the Foundation, the day-to-day management, responsibilities of the trustees, the current objectives and future plans.
The trustees have assessed the major risks to which the charity is exposed. The trustees believe that by ensuring controls exist over key financial systems, including Ludlow Trust Company Limited’s systems and controls, they have established effective systems to mitigate those risks.
## **OBJECTIVES AND ACTIVITIES**
The charity’s objects are:
“To further such other objects or purposes which are exclusively charitable according to the law of England and Wales in any part of the world and in such manner as the trustees may in their absolute discretion think fit.”
In pursuance of its objects, the charity’s income, and, at the absolute discretion of the trustees, its capital, is applied in making grants to charitable organisations.
In determining how the charity should pursue its objects, the trustees have had regard to the Charity Commission's guidance on public benefit.
## **FUNDRAISING STANDARDS INFORMATION**
The charity does not actively participate in the raising of funds from the general public, nor does it engage with any parties to do so on its behalf. As such the charity is not bound by any schemes in relation to fundraising.
## **ACHIEVEMENTS, PERFORMANCE AND FINANCIAL REVIEW**
During the year under review the charity’s total income amounted to £5,944,557 (2023 (restated): £1,106,285) inclusive of transfers from the expendable endowment fund. Additionally the charity was in receipt of additions from settlor trustees and associated gift aid to the endowment fund of £4,354,908 (2023 (restated): 2,295,621).
Charitable expenditure in the year totalled £5,591,701 (2023 (restated): £1,438,668) grants to charitable organisations totalling £5,576,997 (2023 (restated): £1,428,476).
At 31 May 2024 total funds were £1,106,305 (2023 (restated): £2,299,635), with endowment funds totalling £662,245 (2023 (restated): £2,208,431) and restricted funds £419,520 (2023: £434,520) and free reserves of £24,540 (2023 deficit: £343,316). Due to the existence of the expendable endowment fund the trustees do not consider that the charity needs to maintain significant free reserves and recognise deficits will arise from time to time due to timing of grant liability recognition.
During the year funds were invested solely in cash deposits.
**Page 2**
**THE J VAN MARS FOUNDATION**
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024
## **TRUSTEES’ REPORT**
## **PLANS FOR FUTURE PERIODS**
The trustees intend to continue the charity’s grant-making activity.
## **STATEMENT OF TRUSTEES’ RESPONSIBILITIES**
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 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:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- 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 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.
## **APPOINTMENT OF AN INDEPENDENT AUDITORS**
For the period under review the charity exceeded the audit threshold and appointed Blue Spire Limited as auditors. Blue Spire Limited have expressed their willingness to remain as auditors of the charity.
Approved by the trustees and signed on their behalf.
David Breach on behalf of Ludlow Trust Company Limited Trustee
Date 31[st] March 2025
**Page 3**
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024
## **THE J VAN MARS FOUNDATION**
## **INDEPENDENT AUDITOR’S REPORT**
## **Independent Auditor’s Report to the Trustees of The J Van Mars Foundation**
## **Opinion**
We have audited the financial statements of The J Van Mars Foundation (the ‘charity’) for the year ended 31 May 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including significant accounting policies. 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 Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
- give a true and fair view of the state of the charity’s affairs as at 31 May 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 Charities Act 2011.
## **Other matter**
The financial statements of the charity for the year ended 31 May 2023 were not audited and during the course of the preparation of the financial statements it was discovered a prior year restatement was required as documented in note 13. We have performed sufficient work in respect of this restatement and the opening balances otherwise to confirm no material misstatements exist which could have an impact on the year under review.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements 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 relating to going concern**
In auditing the financial statements, we have concluded that the trustees’ 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 charity'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 trustees 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 trustees’ report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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.
**Page 4**
**THE J VAN MARS FOUNDATION**
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024
## **INDEPENDENT AUDITOR’S REPORT**
## **Matters on which we are required to report by exception**
We have nothing to report in respect of the following matters in relation to which the 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 trustees’ 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 audit.
## **Responsibilities of trustees**
As explained more fully in the statement of trustees’ responsibilities, the trustees are responsible for the preparation of financial statements which give a true and fair view, and for such internal control as the trustees 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 trustees are responsible for assessing the charity’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 trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
## **Auditor’s responsibilities for the audit of the financial statements**
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.
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.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.
Based on our understanding of the Charity and the industry in which it operates, we identified the principal laws and regulations that directly affect the financial statements to be the Charities Act, and Trustee Act. We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.
In addition, the Charity is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation. As an investment and donation funded grantmaker there is a limitation to areas most likely to have such an effect. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence if any.
Audit procedures performed by the engagement team included:
- Enquiry of those charged with governance around actual and potential litigation and claims and any instances of non-compliance with laws and regulations;
- Reviewing minutes of meetings of those charged with governance;
- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding
**Page 5**
**THE J VAN MARS FOUNDATION**
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024
## **INDEPENDENT AUDITOR’S REPORT**
irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/Our-Work/Audit/Audit-and-assurance/Standards-and-guidance/Standards-and-guidance-forauditors/Auditors-responsibilities-for-audit/Description-of-auditors-responsibilities-for-audit.aspx. This description forms part of our auditor’s report.
## **Use of our report**
This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s 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 charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Blue Sure hiinited Blue Spire Limited, Statutory Auditor _Date 31[st] March 2025_
Cawley Priory South Pallant Chichester West Sussex PO19 1SY
_Blue Spire Limited is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006._
**Page 6**
## **THE J VAN MARS FOUNDATION**
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024
## **STATEMENT OF FINANCIAL ACTIVITIES**
|**Income**
**Funds**
**Note**
**£**
**INCOME AND ENDOWMENTS FROM:**
Donations and legacies
**1**
142,511
Investments
**2**
27,033
Other income
**3**
2,353
**Total**
171,897
**EXPENDITURE ON:**
Charitable activities
**4**
5,576,701
**Total**
5,576,701
**Net income/expenditure)**
(5,404,804)
**Transfers between funds**
**11**
5,772,660
**Other recognised gains/(losses)**
Gains/(losses) on foreign exchange
-
**Net movement in funds**
367,856
**RECONCILIATION OF FUNDS**
**Total funds brought forward (restated)**
**10, 11**
(343,316)
**Total funds carried forward**
**10, 11**
24,540|**Restricted**
**Funds**
**£**
-
-
-
-
15,000
15,000
(15,000)
-
-
(15,000)
434,520
419,520|**Capital**
**Funds**
**£**
4,354,908
-
-
4,354,908
-
-
4,354,908
(5,772,660)
(128,434)
(1,546,186)
2,208,431
662,245|**2024**
**Total**
**Funds**
**£**
4,497,419
27,033
2,353
4,526,805
5,591,701
5,591,701
(1,064,896)
-
(128,434)
(1,193,330)
2,299,635
1,106,305|**(restated)**
**2023**
**Total**
**Funds**
**£**
2,415,375
2,942
3,115|
|---|---|---|---|---|
|||||2,421,432|
|||||1,438,668|
|||||1,438,668|
|||||982,764
-
81,319|
|||||1,064,083
1,235,552|
|||||2,299,635|
None of the charity’s activities were acquired or discontinued during the above two financial years. The charity has no recognised gains or losses other than those dealt with in the statement of financial activities.
**Page 7**
## **THE J VAN MARS FOUNDATION**
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024
## **BALANCE SHEET AS AT 31 MAY 2024**
|||||||**(restated)**|
|---|---|---|---|---|---|---|
||||**2024**|||**2023**|
||**Note**|**£**||**£**|**£**|**£**|
|**CURRENT ASSETS**|||||||
|Cash at hand and in bank||1,109,944|||2,301,142||
|**Total current assets**||1,109,944|||2,301,142||
|**LIABILITIES**|||||||
|Creditors: amounts falling due within one year|**9**|3,639|||1,507||
|**Net current assets/(liabilities)**||||1,106,305||2,299,635|
|**Total assets less current liabilities**||||1,106,305||2,299,635|
|**Net assets/(liabilities)**||||1,106,305||2,299,635|
|**THE FUNDS OF THE CHARITY**|||||||
|Capital (expendable endowment)|**10, 11**|||662,245||2,208,431|
|Restricted funds|**10, 11**|||419,520||434,520|
|Income|**10, 11**|||24,540||(343,316)|
|**Total charity funds**||||1,106,305||2,299,635|
|The notes on pages 10 to 17 form part of the financial statements|The notes on pages 10 to 17 form part of the financial statements||||||
|Approved by the trustees and signed on their behalf|||||||
David Breach on behalf of Ludlow Trust Company Limited Trustee
Date 31st March 2025
**Page 8**
## **THE J VAN MARS FOUNDATION**
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024
## **STATEMENT OF CASH FLOWS**
|**Note**
**£**
**£**
**Net cash flow from operating activities (see below)**
(1,218,231)
**Cash flow from investing activities**
Interest received
27,033
**Net cash flow from investing activities**
27,033
**Net increase/(decrease) in cash and cash equivalents**
(1,191,198)
**Cash and cash equivalents at 1 June 2023**
2,301,142
**Cash and cash equivalents at 31 May 2024**
1,109,944
**Cash and cash equivalents consist of:**
Cash at bank and in hand
1,109,944
**Cash and cash equivalents at 31 May 2024**
1,109,944
**Reconciliation of net income to net cash flow from operating activities**
**£**
**£**
Net income for the year
(1,064,896)
Adjusted for:
Interest and dividends
(27,033)
Gains/(losses) on foreign exchange
(128,434)
Increase/(decrease) in creditors
2,132
(153,335)
(1,218,231)
**2024**
**2024**|**£**
**£**
809,832
2,942
2,942
812,774
1,488,368
2,301,142
2,301,142
2,301,142
**£**
**£**
982,764
(2,942)
81,319
(251,309)
(172,932)
809,832
**2023**
**2023**
**(restated)**|**£**
**£**
809,832
2,942
2,942
812,774
1,488,368
2,301,142
2,301,142
2,301,142
**£**
**£**
982,764
(2,942)
81,319
(251,309)
(172,932)
809,832
**2023**
**2023**
**(restated)**|
|---|---|---|
|||809,832|
**Page 9**
**THE J VAN MARS FOUNDATION** UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024
## **ACCOUNTING POLICIES**
## **General information, scope and basis of the financial statements**
The J Van Mars Foundation is an unincorporated charity constituted under a trust deed. The address of the principal office is given in the reference and administrative details section and the nature of the charity’s operations and principal activities are given in the trustees' report.
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
## _Restatement_
These financial statements include a restatement of the comparative years as shown in note 13.
## **Incoming resources**
All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.
Investment income is earned through holding assets for investment purposes such as shares. It includes dividends and interest. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend and rent income is recognised as the charity’s right to receive payment is established.
## **Resources expended**
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following expenditure headings:
● Charitable activities; these include grants to third parties and the costs of administering the charity inclusive of governance costs
Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity.
Support and governance costs are those that assist the work of the charity but do not directly represent charitable activities. They are incurred directly in support of expenditure on the objects of the charity. Governance costs are those incurred in the governance of the charity and primarily associated with the constitution and statutory requirements.
## **VAT**
The charity is not registered for VAT and is unable to recover VAT incurred. On this basis costs are recorded inclusive of VAT within the SOFA.
## **Taxation**
The charity is considered to pass the tests set out in sections 521 to 536 Income Tax Act 2007 (ITA 2007), as such no income tax is payable on the charity's activities.
## **Foreign currency**
Foreign currency transactions are initially recognised by applying to the foreign currency amount the spot exchange rate between the functional currency and the foreign currency at the date of the transaction.
Monetary assets and liabilities denominated in a foreign currency at the balance sheet date are translated using the closing rate.
**Page 10**
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024
## **THE J VAN MARS FOUNDATION**
## **ACCOUNTING POLICIES**
## **Debtors receivable and creditors payable within one year**
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
## **Cash and cash equivalents**
Cash and cash equivalents includes cash at bank and in hand and cash balances within the interest-bearing cash deposits.
## **Fund accounting**
Unrestricted general funds are incoming resources receivable or generated for use in furtherance of the general objects of the charity without restriction.
Expendable endowment funds are those which are required to be invested to produce income but which may be transferred to unrestricted funds at the discretion of the trustees in order that they may be expended in furtherance of the charity’s objectives.
## **Going concern**
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
**Page 11**
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024
## **THE J VAN MARS FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **1. Donations and legacies**
|**1. Donations and legacies**|||||
|---|---|---|---|---|
|Addition to trust
Gift Aid reclaimed
Donation - GuestTix tour
Addition to trust
Gift Aid reclaimed
Donation - GuestTix tour
**2. Investment income**|**Income**
**Funds**
**£**
-
-
142,511
142,511
**Income**
**Funds**
**£**
-
-
119,754
119,754|**Restricted**
**Funds**
**£**
-
-
-
-
**Restricted**
**Funds**
**£**
-
-
-
-|**Capital**
**Funds**
**£**
3,047,317
1,307,591
-
4,354,908
**Capital**
**Funds**
**£**
1,882,152
413,469
-
2,295,621|**2024**
**Total**
**Funds**
**£**
3,047,317
1,307,591
142,511|
|||||4,497,419|
|||||**(restated)**
**2023**
**Total**
**Funds**
**£**
1,882,152
413,469
119,754|
|||||2,415,375|
||||||
|Interest receivable on bank deposits
Interest receivable on bank deposits
**3. Other income**
Album art sales
Album art sales|**Income**
**Funds**
**£**
27,033
27,033
**Income**
**Funds**
**£**
2,942
2,942
**Income**
**Funds**
**£**
2,353
2,353
**Income**
**Funds**
**£**
3,115
3,115|**Restricted**
**Funds**
**£**
-
-
**Restricted**
**Funds**
**£**
-
-
**Restricted**
**Funds**
**£**
-
-
**Restricted**
**Funds**
**£**
-
-|**Capital**
**Funds**
**£**
-
-
**Capital**
**Funds**
**£**
-
-
**Capital**
**Funds**
**£**
-
-
**Capital**
**Funds**
**£**
-
-|**2024**
**Total**
**Funds**
**£**
27,033|
|---|---|---|---|---|
|||||27,033|
|||||**2023**
**Total**
**Funds**
**£**
2,942|
|||||2,942|
|||||**2024**
**Total**
**Funds**
**£**
2,353|
|||||2,353|
|||||**(restated)**
**2023**
**Total**
**Funds**
**£**
3,115|
|||||3,115|
**Page 12**
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024
## **THE J VAN MARS FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **4. Charitable activities**
|Grants (see note 6)
Support and governance costs (see note 5)
Grants (see note 6)
Support and governance costs (see note 5)|**Income**
**Funds**
**£**
5,561,997
14,704
5,576,701
**Income**
**Funds**
**£**
1,093,476
10,192
1,103,668|**Restricted**
**Funds**
**£**
15,000
-
15,000
**Restricted**
**Funds**
**£**
335,000
-
335,000|**Capital**
**Funds**
**£**
-
-
-
**Capital**
**Funds**
**£**
-
-
-|**2024**
**Total**
**Funds**
**£**
5,576,997
14,704|
|---|---|---|---|---|
|||||5,591,701|
|||||**(restated)**
**2023**
**Total**
**Funds**
**£**
1,428,476
10,192|
|||||1,438,668|
## **5. Support and governance costs**
|**5. Support and governance costs**|||||
|---|---|---|---|---|
|Ludlow Trust Company Limited fees
Independent auditor's remuneration
Independent examiner's fees
Ludlow Trust Company Limited fees
Independent examiner's fees
Legal fees|**Income**
**Funds**
**£**
13,060
1,800
(156)
14,704
**Income**
**Funds**
**£**
6,545
936
2,711
10,192|**Restricted**
**Funds**
**£**
-
-
-
-
**Restricted**
**Funds**
**£**
-
-
-
-|**Capital**
**Funds**
**£**
-
-
-
-
**Capital**
**Funds**
**£**
-
-
-
-|**2024**
**Total**
**Funds**
**£**
13,060
1,800
(156)|
|||||14,704|
|||||**2023**
**Total**
**Funds**
**£**
6,545
936
2,711|
|||||10,192|
**Page 13**
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024
## **THE J VAN MARS FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS**
|**6. Grants to institutions**
One grant and England & Wales unless annotated
**Income**
**Restricted**
**Funds**
**Funds**
**No.**
**£**
**£**
ClientEarth
300,000
-
Ocean Cleanup
1,286,640
-
One Tree Planted
USA
3
3,713,907
-
Other charitable organisations
261,450
15,000
5,561,997
15,000
**Income**
**Restricted**
**Funds**
**Funds**
**No.**
**£**
**£**
Hundo Foundation Ltd
2
85,400
-
The Mangalakrs Foundation
50,000
-
UP - Unlocking Potential
-
300,000
One Tree Planted
USA
741,076
-
Other charitable organisations
217,000
35,000
1,093,476
335,000|**Capital**
**Funds**
**£**
-
-
-
-
-
**Capital**
**Funds**
**£**
-
-
-
-
-
-|**2024**
**Total**
**Funds**
**£**
300,000
1,286,640
3,713,907
276,450|
|---|---|---|
|||5,576,997|
|||**(restated)**
**2023**
**Total**
**Funds**
**£**
85,400
50,000
300,000
741,076
252,000|
|||1,428,476|
## **7. Auditor's remuneration and examiner's fees**
|**7. Auditor's remuneration and examiner's fees**|||||
|---|---|---|---|---|
|||||**2024**|
||**Income**|**Restricted**|**Capital**|**Total**|
||**Funds**|**Funds**|**Funds**|**Funds**|
||**£**|**£**|**£**|**£**|
|Auditor's remuneration - audit|1,800|-|-|1,800|
|Examiner's fees - prior year over accrual|(156)|-|-|(156)|
|||||**2023**|
||**Income**|**Restricted**|**Capital**|**Total**|
||**Funds**|**Funds**|**Funds**|**Funds**|
||**£**|**£**|**£**|**£**|
|Examiner's fees - examination|936|-|-|936|
## **8. Related party transactions**
Fees payable to Ludlow Trust Company Limited are included in note 5 above. These fees are authorised under section 6 of the Trust Deed.
The Foundation has no employees, all administration being carried out by the trustees.
Other than the fees noted above, no remuneration was paid nor expenses reimbursed to trustees in the year under review.
**Page 14**
## **THE J VAN MARS FOUNDATION**
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024
## **NOTES TO THE FINANCIAL STATEMENTS**
## **9. Creditors: amounts falling due within one year**
|**9. Creditors: amounts falling due within one year**|||
|---|---|---|
|Accruals - examiner's fees
Accruals - auditor's remuneration
Accruals - Ludlow Trust Company Limited fees|**2024**
**£**
-
1,800
1,839
3,639|**2023**
**£**
936
-
571|
|||1,507|
## **10. Analysis of net assets between funds**
|**10. Analysis of net assets between funds**|||||
|---|---|---|---|---|
|Current assets
Current liabilities
Current assets
Current liabilities|**Income**
**Funds**
**£**
28,179
(3,639)
24,540
**Income**
**Funds**
**£**
(341,809)
(1,507)
(343,316)|**Restricted**
**Funds**
**£**
419,520
-
419,520
**Restricted**
**Funds**
**£**
434,520
-
434,520|**Capital**
**Funds**
**£**
662,245
-
662,245
**Capital**
**Funds**
**£**
2,208,431
-
2,208,431|**2024**
**Total**
**Funds**
**£**
1,109,944
(3,639)|
|||||1,106,305|
|||||**2023**
**Total**
**Funds**
**£**
2,301,142
(1,507)|
|||||2,299,635|
**Page 15**
**THE J VAN MARS FOUNDATION** UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024
## **NOTES TO THE FINANCIAL STATEMENTS**
|**11. Net movement in funds**
Endowment funds
Young persons restricted fund
Unrestricted funds|||**Year ended 31 May 2024**|**Year ended 31 May 2024**|||
|---|---|---|---|---|---|---|
||**Total funds**
**brought**
**forward**
**£**
2,208,431
434,520
(343,316)
2,299,635|**Total**
**incoming**
**resources**
**£**
4,354,908
-
171,897
4,526,805|**Total**
**resources**
**expended**
**£**
-
(15,000)
(5,576,701)
(5,591,701)|**Gains/(losses)**
**on foreign**
**exchange**
**£**
(128,434)
-
-
(128,434)|**Transfers**
**between**
**funds**
**£**
(5,772,660)
-
5,772,660
-|**Total funds**
**carried**
**forward**
**£**
662,245
419,520
24,540|
|||||||1,106,305|
The Young persons restricted fund arises from a donation received from JJ Van Mars, a charity controlled by the trustees of J Van Mars, on closure to be used on objects of that charity as set out below.
To help and care for young people, so as to develop their capabilities that they grow to full maturity as individuals and members of society, especially but not exclusively those in need by reason of neglect, abuse, homelessness, financial disadvantage or addiction.
In furtherance of this the charity may acquire property and apply that property for the purposes named above, especially but not exclusively by way of drop-in-centres to provide a range of facilities including but not limited to those of education, art, sport, drama, music, psychotherapy, care and accommodation.
In addition the charity may make grants to other registered charities who fulfil these objects either directly or indirectly through the provision of grants in support of similar activities.
The transfer from endowment to unrestricted funds was implemented to provide resources for grant awards in furtherance of the charity's objectives
|Endowment funds
Young persons restricted fund
Unrestricted funds|||**Year ended 31 May 2023**
**(restated)**|**Year ended 31 May 2023**
**(restated)**|||
|---|---|---|---|---|---|---|
||**Total funds**
**brought**
**forward**
**£**
811,965
769,520
(345,933)
1,235,552|**Total**
**incoming**
**resources**
**£**
2,295,621
-
125,811
2,421,432|**Total**
**resources**
**expended**
**£**
-
(335,000)
(1,103,668)
(1,438,668)|**Gains/(losses)**
**on foreign**
**exchange**
**£**
81,319
-
-
81,319|**Transfers**
**between**
**funds**
**£**
(980,474)
-
980,474
-|**Total funds**
**carried**
**forward**
**£**
2,208,431
434,520
(343,316)|
|||||||2,299,635|
**Page 16**
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024
## **THE J VAN MARS FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS**
|**12. Comparative statement of financial activities (restated)**
**Note**
**INCOME AND ENDOWMENTS FROM:**
Donations and legacies
**1**
Investments
**2**
Other income
**3**
**Total**
**EXPENDITURE ON:**
Charitable activities
**4**
**Total**
**Net income/expenditure)**
**Transfers between funds**
**11**
**Other recognised gains/(losses)**
Gains/(losses) on foreign exchange
**Net movement in funds**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**10, 11**
**Total funds carried forward**
**10, 11**|**Income**
**Funds**
**£**
119,754
2,942
3,115
125,811
1,103,668
1,103,668
(977,857)
980,474
-
2,617
(345,933)
(343,316)|**Restricted**
**Funds**
**£**
-
-
-
-
335,000
335,000
(335,000)
-
-
(335,000)
769,520
434,520|**Capital**
**Funds**
**£**
2,295,621
-
-
2,295,621
-
-
2,295,621
(980,474)
81,319
1,396,466
811,965
2,208,431|**2023**
**Total**
**Funds**
**£**
2,415,375
2,942
3,115|
|---|---|---|---|---|
|||||2,421,432|
|||||1,438,668|
|||||1,438,668|
|||||982,764
-
81,319|
|||||1,064,083
1,235,552|
|||||2,299,635|
## **13. Prior period restatement**
During the course of the period under review, and subsequent to the approval of the financial statements for the comparative year, the trustees had become aware of transactions which had not been reported in the financial statements for the years ending 31 May 2022 nor 31 May 2023. These transactions and relevant balances have been included in these financial statements with necessary restatements made as follows:
|_Year ended 31 May 2022_
Total income and endowments
Total expenditure
Foreign exchange gains/(losses)
Net movement in funds
Funds brought forward
Funds carried forward
_Year ended 31 May 2023_
Total income and endowments
Total expenditure
Foreign exchange gains/(losses)
Net movement in funds
Funds brought forward
Funds carried forward|**As**
**previously**
**reported**
**£**
200,732
(615,536)
205
(414,599)
838,186
423,587
935,445
(697,569)
-
237,876
423,587
661,463|**Correction**
**£**
1,500,697
(741,076)
52,344
811,965
-
811,965
1,485,987
(741,099)
81,319
826,207
811,965
1,638,172|**As restated**
**£**
1,701,429
(1,356,612)
52,549|
|---|---|---|---|
||||397,366
838,186|
||||1,235,552|
||||2,421,432
(1,438,668)
81,319|
||||1,064,083
1,235,552|
||||2,299,635|
**Page 17**