Compary Registrati NIX 07106448 (Er¥larnl aml Wales) THE JESSICA MATHERS TRUST IA cmipary limlted by grartee1 REGISTERED CHARITY NO. 1133674 DIRECTORS, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
THE JESSICA MATHERS TRUST (A compary Ilmlted guarartee) CONTENTS Page Legal and Administrative Informatlon Directors, Refv Independent Examiner's Report staternent of Financial ActI1t1eS (includin8 an Income and expenditure account) Balance Sheet Notes to the Flnancial Statement5 9-14
THE JESSICA MATHERS TRUST IA c4Jmpary Ilmlted ty Brae¢) LEGAL AND ADMINISTRATIVE INFORMATION Registered in England and Wales awrlty Number 1133674 R¢8lsteved Offlc Jessica's Heart 14 New King Street Deptford London SE8 3HS Web51te Address www.thejmt.co.uk CLMnPary Nwnber 071(W48 TnLStees arnl Dlrectry5 Stephen mattrr5 - Chalr Murphy Bettany {resigned 17 October 20231 Megan Brown Ire5i8ned 4 August 2023) Amelia Cook Samuel Hollin5 Anna Mathers Jannet Mather5 Alexander Mansfield Miranda Solly Anna Mathers Investment Advlser Gemmell FlnarKial Service5 Ltd 9 Sandridge Park Porters WrKxl St Albans HertfOrdShi AL3 6PH Banke The CTroperative Bank PO Box 250, Delf House Southwav SkElmersdale WN8 6wr Independent Examlrnr Ik)minique Wells FCA 10 Lakeswood Road Petts Wood Kent BRS IBJ P38è 1
THE JESSICA MATHERS TRUST (a ¢ompany Ilmlted by 8uaraTrts•) DIRECTORS. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The Dlrectors a pkased to Psent their repor¢ together with the financial 5tstements of the Charty for the period l January 2023 to 31 December 2023. which also represents the Trusteeg report that is required to be ppad under Part 8 of the Charlties Art 2011. The Olrectors of the Charty are its Trustees for the purpose of charity law. as set out on page I, and throughout the financial statements a collectively ferred to as the Trustees. The financial statements have been prepared in accordance wlth the accountlng policies set out on pages 9 and 10 and wlth appllcable Unlted Klngdom accountlng standards, current statutory requirements, the Charlties Act 2011. the Companies Act 2(x)6. Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charitles preparin8 their accounts accordance with the Financlal Reporting Standard applicable in the UK and Republk of Ireland (FRS 1021 leffective l January 20151 and the Charitys 8ovemin8 document. Legal and adminlstrative infonmation set out on page I fonns part of this report. ObrtIVeS and Activltles (Including publk benefftl The Je55ico Mathers Trust ("JMfi was founded in memory of Jesslca Mathers by her family Stephen. Jannet and Anna. Jessica Mathers died in a road accident in 2007. The objects of the JMT a5 stated in the Articles of Association are "specifically restricted to promote or carry otrt such purposes which are charitsble in law accordin8 to the laws of En8land and Wales as the Trustees in their absolute discretion from time to time think fit." In furtherance of these charitable purposes. our aims are "Firstly to support people who are stru881ing with life, particularly when thls is due to homelessness, a premature bereavement or the challenges of adolexence. SeCor{V to help develop the local communty In Depfftird and to protect and sustain the wider natural environment- We have referred to Sertion 17 of the Charities Art 2011 and to the guidance contained in the Charlty Commission's general guidance on public benefit when reviewing our aims and objectlves and in plannlng our future activities. In particular, the Trustees conslder how planned actlvltles wlll contrlbute to the aims and objectives they have set. We continue to work prlmarily wlth Bench Outreach {Charlty No 1077933) that en8ages With homeless people In the Deprford area, who we have 5UPPOrted from the start. A¢hlevements and Perfornunce The Jmfs main a55et1s Jessica's Heart, a building in Oeptford that we converted into four flats and a suite of office5. We have supported 8ench Outreach by making the offices, meeting rooms and facilities available to assist them in furthering their charitable purposes. Their lease has been rent-free and the JMT also pays for any rates and all utiltties except telephone and internet bills. The meeting room Is also used by other charities when avèilable. Bench Outreach's lease remains subject to one yea¢s notice of cancèllation. Page 2
THE JESSICA MATHERS TRUST (a company Ilrnlted by8uarantee} DIRECTORS, REPORT {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 The flats on the upper floors are rented out to provide income to the JMT. Any rental income remaining after the costs incurred in running the offices and the sum designated to cover maintenance and the long-term upkeep of the building is available to further support Bench Outreach or any other charity whose airn5 are consistent with those of the JMT. Donations to the JMT have enabled us to become mainly a grant making charity and our desire is to make grnnts of up to £1.0 a year to chosen beneficiaries. Grants awarded duTlng the year fall broadly into four cate8ories: 2023 £24.CXXI £25.(MJ) £31,2 £1,0 2022 £24,ClXI £27.389 £23,200 £i,Ll)) omelessness 8ereavement Other Ilfe challen Environmenl es And Into three Beo8raphic re8ions: 2023 £33.2Crf) £13,S £34.5(Xl 2022 £31,589 £10.51X) £33,51XI Local to De tford & SE London Another location Nationwide UK The total grants made during the year were £81,212022. £75,589) and a full list of reapients appears withln Note 6 in the accounts. Flnanclal Revlewand Reserve5 Polky The result for the year is a deficit of £2.29512022: surplus £64,2991. Income from the rentsl of the flats plus unrealised investment 8ains almost offset eypenditure on grants and expenses. The Investment property was revalued durin8 the year, but Its value Is unchanged due to the flat property market12022.. £50,LXJ) increase). There Is £393,940 12022: £393,940) in the unre5trlcted fund in relafjon to the unreallsed gains on the investment property. Flnandal St•tsments Whilst all assets, with the exceptlon of Jesslca's Heart and the designated fund, are available to be dispersed in grants. the policy of the Trustees Is to keep up to £50,) in cash and to invest any balan. Funds are invested directty into a range of 'sustsinable' unit trusts on the James Hay platform. taking independent financial advice from Gernmell Financlal SeNices Ltd, The portfolio shows a net 8aln for the year of £44,852 {2022: loss of £110,367). Durlng the year the Trustees declded to move the charlvs cash accounts away from Barclays Bank. After revlew of suitsble altematlve banks, It wa5 decided to move to The Co-operatlve Bank. Page 3
THE JESSICA MATHERS TRUST (a company Ilmlted by Buarartee) DIREcfoRS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 The drityS reserne policy is to carry a designated fund to cover maintenance and the lon8-term upkeep of Jesslca's Heart. of which there Is £106.969 carried forward12022: £97.5741. Thi5 is deemed sufficient as the are rninimal operating cost& Plans for Future Perfods Our first priority is to keep Jessica's Heart fully utilised and to make the Offe5 and meeting room a pleasant environment both for vlsitors and those who work there. The current economlc crfsts has made it even more difftult than usual for all charities, with extra demand for their servlces and sometimes fewer donations coming in. We have been Tecelving an exceptionally large number of request5 for funding from excellent charilies and are havin8 to be more selective in which we support. This year we again plan to give mainly to the charitles we supported in 2023, but to redu or suspend grants to laer well-funded charitles. The extra budget allocation will allow us to consider a small number of new donations to other charitles that meet our alms and we wlll concentrate thls mainly on charlties based In SE London. stTuLturn. Gmrnano and Man•8emert The Jessica Mathers Trust was establSshed as a company Ilmited by guarantee and re8iStered in En8land & Wales on 16 December 2CNJ9. and is 8overned by Its Memorandum & Articles of Assoclatlon. It was registered with the Charity Commlssion on 22 January 2010. To date all the Trustees (who are Dirertors for the purposes of the Companles Act) have been recruited from those who knew Jessica well and We keen to celebrate in her memory. and also on the basis of thelr skills, experience and their potential contribution to the or8ani5ation both currentfy and in the future. They have all received copies of the charitvs governing documents and booklets publtshed by the Charity Commission on the role and duties of trustees. During the year Megan Brown and Murphy 8ettany decided to retlre as Trustees, but they remain a5 members. We are very grateful to them both for the help and advice they have given over many years. The thlrteenth annual general meetlng of the JMT was held on IS November 2023. According to the Articles of Association of the JMT at each annual general meeting one-third of the Trustees must retire from office, with the Trustees tIring by rotatlon being those who have been lon8est office since thelr last appointment. Retiring Tru5tee5 are eli8ible for re-appointment. Alex Mansfield and Anna Mathers so retired and both offered themselves for rtrappolntment. Alex and Anna We r&appointed unanimously by the members of the JMT. All Trustees give their time freely and no Trustee remuneration was paid in the period. During the period covered by this report the Trustees held onty one meeting. apart from the AGM. The strategic plan5 a detemiined by the Board of Trustees with day-to-day running delegated to the Chalr of Trustees and the Secretary. The JMT has no employees. A Tnjstee Is entltled to be pald reasonable and proper remuneratlon for any goods or servlces supplled to the JMT only rf it 15 permitted in actordance with. and subject to the conditions in, Section 185 of the Charities Act 2011. No conflicts of Inte$t have arisen and any confitcts of interest would be disclosed by the Trustees. Page 4
THE JESSICA MATHERS TRUST (a company Ilmlted by guarantse) DIREcfoRS' REPORT {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 The Trustees have consided the major risks to which the JMT is exposed and have reviewed those risks to establish Werns and procedures to manage those risks. In particular the Trustees have obtained full buildings, occuplers and public liability insurance forjessica's Heart. The Trustees consider thal a major risk to the charity is if any of the flats remain unoccupied for a prolonged period and have a fvll servSce contract with Keatons, a London estste agent, to mlnimise this risk. Trustees Rewnslbllltles In preparin8 these accounts, the tru5tee5 are required to: selett Suitable accountin8 policies and appty them consistently make judgements and estimates that are reasonable and prudent state whether applicable accounting standards and ststements of recommended prnctlce have been followed. subject to any materlal departures disclosed and explained in the financlal statement prepare the financial statements on the golng concem basis unless it is inappropriate to presume that the organisation will continue to operate. The trustees are responslble for keepin8 proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the flnancial statements comply with the Companies Act 21X)6. They are also responsible for safeguardlng the charitys assets and taking asonable steps to prevent or detect fraud and breathes of law and gulation. So far as each of the trustees is aware, there 15 no relevant infonnation that has not been disclosed to the charivs examlner and each of the trustees believes that all steps have been tsken to make her aware of any relevant audit infomwtion and to establlsh that the examlner has been made aware of this infonnatlon. By order of the Trustees Stephen Mathers 2024 Page 5
THE JESSICA MATHERS TRUST (a company Ilrnfted byAuarante¢) INDEPENDENT EXAMINER'S REPORT TO THE DIRECTORS OF THE JESSICA MATHERS TRUST I report on the financial statements of the cornpany for the year ended 31 December 2023 a5 set out on pages 7 to 14. This report is made solety to the charitws trustees. as a body, in accordance with the Sertion 145 of the Charltles Act 2011. My work has been undertaken 50 that I might state to the charitvs trustees those matters l am required to state to them In thls report and for no other purpose. To the fullest extent permitted by law. I do not accept or assume responsibillty to anyone other than the charity and the charitys trustees as a body, for my work. for this report. or for the opinions I have fomled. The charivs trustees {who are olso the directors of the company for the purpose5 of company lawl are responsible for the preparation of the financial statements. The trustees consider that an audit is not required for the year under Section 144121 of the Charities Act 2011 (the '2011 Ace) and that an independent examination Is needed. Having satisfied myself that the charity Is not subject to audlt under company law and is eligible for Independent examination. it is my responsibility to- examine the financial statements under Section 145 of the 2011 Act".
to follow the procedures lald down In the General Directions glven by the Charlty Commlsslon under Sectlon 14515llbl of the 2011 Act: and to state where particular matters have come to my attention. Bas15 of independent enminerf$ report My examination was carried out in accordafice wlth the General Directions given by the tharity Commisslon. An examination includes a review of the accounting records kept by the charty and a comparison of the financial statements presented with those records. It also indudes consideration of any unusual item5 or disclosures in the financlal ststements and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evldence that would be required in an audtt, and consequently no opinion is 8iven as to whether the financial statements present a 'true and kir Vte and the report Is limited to those matters set out In the statement below. Indepe*nt examinee$ statement In connection wlth my examinatlon. no matter has come to my attention: al whith gives me reasonable cause to believe that in any material respect the reqU1Ments. to keep accounting records in accordance wtth Sectton 386 of the Companies Act 2(. and to prepare financial statements which accord wlth the accountin8 records and to comply with the accountin8 requirements of the Section 396 of the Companies Act 2(KJ6 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reportlng by Charities have not been met: or b) to which, in my opinion, attention should be drawn In order to enable a proper understanding of the financial statements to be reached. Chartered Accountant 10 Lakeswood Road Petts Wood Kent BR5 IBJ Date: 22 107 / 2024 Page 6
THE JESSICA MATHERS TRUST (A company Ilmlted ty 8uarantee) STATEMEKf OF RNANaAL AcTITIEs Ilncludlng an Income and expendtture account) FOR THE YEAR ENDED 31 DEmBER2O23 Unrestrlcted thnds Notes Totsl nds 2022 General 2023 Deslgnated 2023 lunds 2023 Incon. Donationsand legacies Investment Income other income 2,258 54,352 2,258 54.352 169.002 50.317 io Tot4 Iorne 56,610 56,610 219,329 Expenditure: Expendltureon ralslngfvnds E¥penditure on charitable activitles 5,360 2,578 7,938 7,391 93,542 2,277 95.819 87.272 Totsl empendlture 98,902 4,855 103,757 94.663 r+let income/lexpenditure) botransfer$ Transfers betwew funds 142.292) 114,250) 14,855) 14,250 147,1471 124,666 Net income and not nwement lftfundsbefore nSaThd losfe5 on Inb•stments 6.542 9.395 7,147 124,666 Net 8ainson investment property Net gains/llosses)on listed inVeStmt$ 50.000 li 44.852 44,852 {110.367) NetzaSns/O055es)on Investments 44,852 44.852 60.367 Net movement on funds {11.6901 9,395 12,295) 64.299 Reconclllatlon olfvnds Total funds brou8ht forward 2,432,175 97,574 2,529,749 2.465,450 Total fvndsczrrled forward 14 2,420A85 106.969 2.527A54 2,5Z9.749 Page 7
THE JESSICA MATHERS TRUST (A company Ilmlted lry guarartee} BAIANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 Note$ FIMd A4ets Tangible assets Investments: Investment property Programme related investments 10 Llsted Investments li 1,170,000 661.088 678.085 1.170.000 661,088 558,233 2.$09,173 2.389.321 CurrentAssets Debtors Gish at bank and in hand 12 750 22,419 126.618 14,810 23,169 141.428 Cxedltor&' amountsfalling due within one year 13 14,888) 1,000) 14,888) (1.0001 Net ¢urr¢nt 3sfets 18,281 140,428 Total net assets 2.527.454 2.529,749 Represented by:_ Unrestricted incomefvnds: General 0esi8nated 14 14 2.420.485 106,969 2,432,175 97.574 Totd funds 2.527.454 2.529.749 Forthefinancial year ended 31 December 2023 thecompanywas entitled to exemption from audit under Section 477 of the CompaniesA£t 2006 relatinBtO small companies. Trustee< responsibilities ril TheTrustees have not required thecompanyto obtain an audit of itsfinancial statementsfor the perlod in question in Cordancewith Section 476; Ciil TheTrustees acknowledgethetr roponsibllltlesfor complying with the requirementsof thekt wlth respett to accounting recordsand the preparation ofthefinancial statements. underStIon 454 oftheCompaniesAct 2006. on a voluntary basis. thetrusteescan amend thesefinanclal statements if th subsequently proveto bedefective. Thesefinancial statements have been prepared in accordance with the special provi*ons relating to small companieswithin Part 15 of theCompaniesAct 2006 and with the Financial Reportin8 Standard applicable in the UK and Republic of Ireland IFR5102). Theaccountswere approved bythe Board on..... . 2024 and signed on their behalf by: Stephen Mathers Jnet Mathers Companyreglstered No. 07106488 Chxlty re8lstered No. 1133674 Page 8
THE JESSICA MATHERS TRUST (A crnnpary Ilmlted lry Zardrfteej NOTES TOTHE FINANaAL STATEMENTS FOR THE YEAR ENDED 31 DEMBER 2023 Accountlng pollcles 1.1 Baslsof preparlon The charlty Isa public benefit entity. Thefinancial statements areprepared underthe historical cost convention and in accordance wlth Accountln8 and Reporting bychaflties: Statement of Recommend1 Practice applicableto charities preparing their accounts in accordance with the Fin4nci41 Reportingstandard applicable in the UK and Republic of Iand {FRS 102) (effective l January 20151- ICharitie550RP IFRS 10211, theCompaniesAct 2006 and the Financial Rwrtingstandard applicableto UK and Republic of Ireland IFRS 1021. Thecharity has taken advani4eof the exemption to prepaaStaternffit ofcash Flowsas per Update Bulletin l of the Ch3ritySORP IFRS 1021 February 2016. 12 Income ri) Donotions Incomefrom sub5criptionsand donationsare Included in incomin8 resource5 in the period to which thLy relate. 115} Income toxcredits recoverable on donations Tax creditsare accrued when receivable by thecharity. {iii) Giftsond intt7ngible income Income from these sources 15 included in the period in which it is received and valued at a reasonable e5timateofthevalue of the gift or service prowded. Ilv} Investment income Intere51 isinclud8J when recelvable bythecharlty. Rent is accrued when receivable and represents incomefrom thecharftysinvestment propertles. {vl Legacy Income Entitlement istaken asthe earlier of thedate on which either= thecharity is awarethat probate has been 8ranted, theestate has bw) Ilnallsed and notlftcation has been made by theexecutor{sl to the charltythat a dlstrlbution wlll be made, or when a distrlbution is received from the estate. Receipt of a Iwcy. in wholeorin part, isonlyconsidered probablewhen theamountcan bemeasured rdiablyand thecharity has been notified of the executor'5 intention to make a distrlbution. Where legacies hw been notified to thecharity. orthecharity isawareof thegrantingof probate, and the criteriafor income recognition have not been met, then thelacy istreated asa contin8ent a55et and disclosed if materlal. 1.3 Expendlture Expenditure in the statement of financlal actlvltlesare dealt wlth on theaccruals basis of accounting and èreclassified asfollows:_ li) Expenditureon raisingfvnd5 This comprises all costs incurre(i by the charity relating tothe raising of fvndsto finance itscharltable objectives. Illl Expenditureon charitableoctivitie5 Thls compri5esErantsmade by the charity to in#ttutionsand support costswhich compriseall costs asy)ciated with the runningof thecharity'soffice, and anyother costs not attributableto the above heading& IA Tan8lble fixed aSsetsd depreclatlon Tangible fixed as*tsare stated at cost less depreciatlon. Depreciation Is provided on all tangibleffixed assets lotherthan freehold land)at ratescalculated to writeoff thecost lessestlmated residual value of each asset over itsexpected u5eftJl lifea5 follows: Office Equipment-25% strai8ht line Page 9
THE JESSICA MATHERS TRUST (A c(mpany Ilmlted by guarartee) NOTES TOTHE FINANaAL STATEMEKfs (CONTINUED) FOR THE YEAR ENDED 31 DEMBER 2023 Atl expensesof a capital naturebdow £l.000 are not capitallsed and areexpensed in the statement of fincial actlvltie& Tanglblellxed assetsare subject to an annual impairment rerflew. 1.5 In%strnent propertles Investment propertiesareaccounted for in accordance with the Financial Reportin8Standard applicable in the UK and Republic of Ireland {FRS 102) (effective l January 2015)and thecharity'sgoverning docUrnt as follow5: No depreclation is provided in respect of Investment propertiesasthey are revalued annually. Unrealised gain5and10$5e5 on rvialuation of the investmentsare included on the face of thestatement of Financlal tivlties lincludingan incomeand expenditureaccount). Thetreatment as regardsto the company's Investment propertie5 may be a departurefrom the rLNuirements of the Companies Act 2006 concerntngthedepreciation of assets HOwer. these propertlesare not held for consumption but invertment and the directorsconsider that systematic annual depreciation would be inappropriate. The accountln8 policyadopted istherefore necessary to 8ivea trueand Pdirvie4V. Depreclatlon or amortisation isonly oneof manyfactors refiected in theannual revaluation and theamount which otherwise have been shown cannot beseparalely identified or quantified. 1.6 Pro8r•nme related Investments Programme related Investmentsarestated at cost lessany Smpairments. Programme relatal InvtMtSare bject to an annual impairment review. 1.7 Llsted Inments Listed Investments are stated In thefinanclal statementsat fairvalue. Rthlised 8ainsand los on the sale of investmentsarecalculated asthedifference between thesaleproceedsand theori8inal cost. Unr115&j gains and lossesare included on the faceof theStatL¥nent of Financlal ktivltles Ilncluding an income and expenditureaccountl. Llsted investmentsare held primarilyto provide an investment return for the charitv. IJ Fund$ General fundsareavailablefor use at thediscretion of thetrUStIn furtheran of the8eneral objectivesof the charlty. Designated fijnds are unrestricted fvndswhich havebeen set asidebythetrusteesfor a specific purpose. The purposeand useofthe designated fundsare in relation to the maintenanceand the longterm upkeep of the buildin8. Tran5-fersare madeto thedesignated fvnd from thegeneral fvnd to cover desi8nated expenditure where necevAry. Anyfunds receivabledur5ng the relevant accountin8year but not utilised arecarried forward aspart of the total charity fvnd& IJ Debtor5and credlto Tradeand otherdebtorsare recognlsed at thesettlement amount due after any tradedlscount isoffer•J. Prepayments arevalued at the amount prepaid net ofany discountsdue. clitOrSand provisionsare reco8nised wherethecharfty has a present obligation resulting from a past event that will probably result In the transfer of fvndsto a third party and theamount dueto settlethe obligation can be measured or estimated reliably. Creditorsand provi4ons are normally recogni5ed at their settlema)t amount afterallowingforanytrade discounts due. Page 10
THE JESSICA MATHERS TRUST (A company Ilmlted by guardrrtee) NOTES TOTHE FINANaAL STATEMENTS (coNfiNUED) FOR THE YEAR ENDED 31 DECEMBER 2023 2 D0nlonsd le8xles 2023 2022 Donations receivable Incometaxcredits recoverable on donatiOnS Le8acy 2,980 278 {I,0001 43,719 10.567 114,716 2.258 169.002 Thele8atyisfrom Mrsjohènnafjoonkwhodled on 2 July2022. 3 Inv¢meTht In¢om• 2023 2022 Rental income Interest recVed 53,400 952 50.300 17 54,352 50.317 4 tspendlture on charltable actl¥ltles 2023 2022 GrantslNote6) Support C05t5 (Note 51 81,200 14,619 75.589 11,683 95019 87.272 5 pPOrt¢0$ 2023 2022 Independent eAaminer'sfEe Insurance Utilities Kitchen Rates Sundry 1,000 971 4,498 3.432 131 169 1,336 6,294 1,950 1,371 391 Fe- DesgnataJ fijnd 2,277 1.482 14.619 11.683 Thesupport costsari5e prlmarily in relatlon to the rental activity. Page 11
THE JESSICA MATHERS TRUST (A Ilmlted by Srantee} NufES TOTHE FINANaAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DEMBER 2023 2023 2022 Bench Outreach Good Grief Project Childhood Eye CancerTrust Inquest Joshuaorphan & Communltycare 2000 Communityktion Centre Alice's Escape5 AHOYCentre Brake Road VictimsTrust Survivorsof Bereavement bysuicide Athdon Jazz kademy Arts Emergency Bede Hou%n8Association Dltch the Label EntdechyArts Forest of Avon Insight Lewls-mannlng Hosplce Care Lighthouse Supportingwomen through 5tormytimes Living Paintin8S LullabyTrust Rising Sun Saft Famllies SupportLine TheHarbour TLC Foundation Young MindsTrust Papyrus Other 24,000 12,000 5.000 5,000 5.000 24,000 12.000 3,000 2.000 2.000 1.500 i.soo 1,200 1.000 1.000 1.000 1.000 1,000 1.000 1,000 1.000 1,000 1,000 1,000 3,000 2,000 1,500 1,500 1,200 1,000 1.000 I,O(M) I,o(hJ 1.000 1,000 1,000 1.000 389 81.200 75,589 7 Trustee¢ remuner*lon.trustee< benefftswd staff Costs Therewere no employee5 duringthe current or prior apart from theTrustees and secretary, noneof whom received any remuneration. No trustees12022: nil) had expenses reimbursed during the¢urrt or prior year. 8 T•Wble fixed assets Ihllce F4uipment Cost 8sat l January2023 and 31 December2023 6,311 DeprLriation asat lJanuary2023 and 31 December2023 6.311 Net bookvalue asat 31 December 2022 and 31 DLrember 2023 Pa8e 12
THE JESSICA MATHERS TRUST (A crynpany limited ty guardrtee) NOTES TOTHE FINANaAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 DEMBER 2023 9 Intsstment property-freehold Valuatlon asat l January2023 and 31 December2023 1.170.000 The dItOrSC0n$iderthe valuation of the investment propertyto have remalned unchanged. Thedirectors considerthisvaluation to beaccurateand to refiert thecurrent market value asat 31 December 2023. Cerntln8 lease$as lessor The charity l&sesout fourflats under separate 12 month aured tenancy agreementsthat may include a break clause. Thefuture minimum lease payments all with oneYr. are as follows:_ 31 Decembw2023 31 Decwnber2022 21,950 21,350 Atthough the risksassociated with the ri8htsthat theJMTretains in underlying assetsare not considered to be Si8nificant, theJWattemtPS to minimi5eth05e risks by ensuringthat all contractsinclude clauses requiring the le55eeto compensatetheJl¥rrwhen a property has been subjectol to damageor excesswear and tear during theleaseterm. 10 prowrne related Investments-freehold Costasat lJanuary2023 and 31 December2023 661,088 Theprogramme rdated invertment isthe officespace provided to Bench Outreach and is included at cost In thefinancial statements. 11 Ust•d Investments 2022 2021 At lJanuary2023 Hlstorical cost 497.421 497,421 Fairvalue 558.233 668,600 PLqUi5itions * cost 75,000 Unrealised gains/l105ses) on rerfaluation 44,852 1110.367) Falr value at 31 December 2023 678,085 558,233 Page 13
THE JESSICA MATHERS TRUST (A ¢ompary Ilrnlted lry guarantee) NOTES TO THE FINANaAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DEMBER 2023 12 Debtors 2023 2022 Prepayments refvnds and accrued income 750 126,618 13 Cr¢dltow amountsfallln£due wlthln one year 2023 2022 cruals 4,888 1,000 14 Anay4sof netassets beten fvnds Unr•strfrted funds Total unrestrlcted fvnds General De514nated Fund balancesat 31 December 2023 are represented by: Investments Current assets Llabilities 2,402,204 23.169 {4.8881 106,969 2,509,173 23.169 14.8881 Total aets 2,420,485 106,969 2,527,454 15 Taxatlon Thecharltablecompany lsa re8iStered charity and is8enerally exempt from Incometax and capital gains tax. IrrKoverableVATis includoj in thecost of those Itemsto which it relate5. 16 Related partytrawtlons Durlngtheyear, the charity made total donationsof £24,00012022: £24,000}to Bench Outreach, a reglsteroj charity. Stephen Mathers wasatrustee ofthis charity at the beginnningof thlsfinancial pertod. but resigned on 21 Feb¥uary2023. Thetotal a88regateamount received from rdated partieswith no conditionsattached was£ll,0001. 12022: £155.0471. 17 Control There Is no ultimatecontrolling party. Page 14