OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2024-12-31-accounts

COMPANY REGISTRATION NUMBER 07331184

JACT SUMMER SCHOOLS TRUST COMPANY LIMITED BY GUARANTEE

ACCOUNTS 31 DECEMBER 2024

Charity Number 1137562

JACT SUMMER SCHOOLS TRUST COMPANY LIMITED BY GUARANTEE

ACCOUNTS

YEAR FROM 1 JANUARY 2024 TO 31 DECEMBER 2024

CONTENTS PAGE
Company and charity information 1
Trustees’ annual report 2
Independent examiner's report 6
Statement of financial activities (incorporating the
income and expenditure account) 8
Balance sheet 9
Notes to the accounts 10

JACT SUMMER SCHOOLS TRUST COMPANY LIMITED BY GUARANTEE

COMPANY AND CHARITY INFORMATION

Registered charity name JACT Summer Schools Trust
Charity number 1137562
Company registration number 07331184
Registered office Market House
10 Market Walk
Saffron Walden
Essex
CB10 1JZ
Trustees (and Directors) Prof J M Mossman
F R Shaw (Resigned 15 April 2025)
J Wisse (Resigned 15 April 2025)
D Moyes
A L Case (Appointed on 15 April 2025)
R Marshall (Appointed on 15 April 2025)
Independent examiner David Richardson ACA
MRT Accountants Limited
Market House
10 Market Walk
Saffron Walden
Essex
CB10 1JZ
Bankers CAF Bank Limited
PO Box 289
West Malling
Kent
ME19 4TA

- 1 -

JACT SUMMER SCHOOLS TRUST COMPANY LIMITED BY GUARANTEE

TRUSTEES’ ANNUAL REPORT

YEAR FROM 1 JANUARY TO 31 DECEMBER 2024

The Trustees of the JACT Summer Schools Trust (“JSST” or the “Charity”), who are also described in JSST’s Articles of Association as “Governors” and are its directors for the purposes of company law, have pleasure in presenting their report and the unaudited accounts of the Charity for the period from 1 January to 31 December 2024.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charities’ governing document, the Companies Act 2006 and 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 (FRS102).

JSST was incorporated as a company limited by guarantee on 30 July 2010. On 1 January 2011 it acquired the entire undertaking of the association also known as Joint Association of Classical Teachers which was founded in 1963 to improve and maintain the quality of the teaching of classics and for this purpose to provide means by which teachers of classics may help one another and enable them to reinterpret the traditional discipline in terms appropriate to the present day.

REFERENCE, ADMINISTRATIVE DETAILS, TRUSTEES AND COUNCILLORS

Reference and administrative details are shown in the schedule of Company and Charity Information on page 1 of the accounts, along with details of the Trustees and Councillors who served throughout the period under review.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Organisational Structure and Rules

The Charity’s Trustees have control of JSST, its property and funds. JSST’s statutory members are the voting members of the Trust, which sets out and reviews the duties of the Trustees (Governors) from time to time in addition to their duties as Charity Trustees.

The Articles of Association provide that the Governors – i.e. the Trustees - comprise:

With the approval of Trust, the Officers may delegate their powers and duties to Committees, which may appoint sub-Committees with the agreement of the Governors.

The Trust comprises:

The Governors hold office for four years and the Chair for five years. The Governors and the Chair are eligible for re-election or re-appointment.

- 2 -

JACT SUMMER SCHOOLS TRUST COMPANY LIMITED BY GUARANTEE

TRUSTEES’ ANNUAL REPORT

YEAR FROM 1 JANUARY TO 31 DECEMBER 2024

At present, no specific policies or procedures are in place, in respect of the induction or training of new Officers as Trustees.

Risk Management

The Trustees have examined the major governing, operational and financial risks, which the Charity faces and systems are in place to lessen these risks. The potential risks, and management of them, are regularly reviewed by the Trustees.

OBJECTIVES AND ACTIVITIES

The objects of the Charity are as follows:

The Charity primarily undertakes its activities through the provision of its Summer Schools. This is as a result of the transfer of the bulk of the Charity’s other activities to the Classical Association at the end of 2014.

JSST refers to the Charity Commissions’ general guidance on public benefit when reviewing JSST’s policy and objectives and in planning JSST’s future activities.

REVIEW OF DEVELOPMENT, ACTIVITIES AND ACHIEVEMENT

The four Summer Schools, in Greek, Latin, Classical Civilisation/Ancient History and the Greek and Latin School at Durham, took place in July and August, attracting a total of 633 students, with a mix from state and independent schools, universities and overseas institutions. There was, as usual, a full range in terms of prior experience with Classics, from complete beginners up to those studying at university level. The courses for teachers running at the Latin Summer School and the Greek Summer School attracted twenty education professionals looking to enhance their skills to teach ancient languages in their own schools.

The Intermediate Certificate in Classical Greek ran for its second full year, after the pilot with 15 schools in 2022, with support from the Classical Association and Classics for All, leading to an exam taken by 465 students, up from 441 in 2023. There was a decrease in the proportion of entrants coming from the state sector, which is a matter of concern. This is being addressed by ongoing liaison with Classics for All and promotion of the exam and supporting resources via Classical Association networks.

- 3 -

JACT SUMMER SCHOOLS TRUST COMPANY LIMITED BY GUARANTEE

TRUSTEES’ ANNUAL REPORT

YEAR FROM 1 JANUARY TO 31 DECEMBER 2024

FINANCIAL REVIEW

Review of Transactions and Financial Position

Following the increase in student numbers across the four Summer Schools, the overall results for 2024 report an increase in income, with overall incoming resources rising from £536,188 in 2023 to £567,785 in 2024, an increase of 5.9%.

Due primarily to the ongoing rises in the cost of residence and facility costs, the costs totalled £592,331, a rise of 13.1% from 2023 (2023: £523,496). This meant that the trust generated a net deficit of £24,546 for the year, resulting in total funds of £143,842 as at 31 December 2024 (2023: £168,388).

Reserves Policy

The Charity’s reserves policy is for each of its Summer Schools to maintain reserves at least sufficient to cover the annual fixed costs of running its activities independently and to maintain Central Office's working capital by proportional contributions at a figure agreed by the Governors.

Grant Awarding Policy

The Charity will continue to make considerable numbers of grants through bursaries to Summer School students, including current and prospective teachers of classics.

RESPONSIBILITIES OF THE TRUSTEES

The Trustees (who are also the directors of JACT Summer Schools Trust for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the Charity for that period. In preparing these accounts, the Trustees are required to:

- 4 -

JACT SUMMER SCHOOLS TRUST COMPANY LIMITED BY GUARANTEE

TRUSTEES’ ANNUAL REPORT

YEAR FROM 1 JANUARY TO 31 DECEMBER 2024

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 accounts comply with the Companies Act 2006. The Trustees 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.

INDEPENDENT EXAMINER

David Richardson ACA of MRT Accountants Limited has been appointed as independent examiner for the ensuing year.

Registered office: 10 Market Walk Saffron Walden Essex CB10 1JZ

Signed by order of the Trustees

Date: 29 September 2025

Prof J M Mossman Trustee

- 5 -

JACT SUMMER SCHOOLS TRUST COMPANY LIMITED BY GUARANTEE

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF JACT SUMMER SCHOOLS TRUST

YEAR ENDED 31 DECEMBER 2024

I report on my examination of the financial statements of JACT Summer Schools Trust (the Trust) for the year ended 31 December 2024.

RESPONSIBILITIES AND BASIS OF REPORT

As the trustees of the Trust (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the Trust are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination. I report in respect of my examination of the Trust’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination, I have followed all applicable Directions given by the Charity Commission under section 145)5)(b) of the 2011 Act.

INDEPENDENT EXAMINER’S STATEMENT

Since the Trust’s gross income exceeded £250,000, your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

- 6 -

JACT SUMMER SCHOOLS TRUST COMPANY LIMITED BY GUARANTEE

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF JACT SUMMER SCHOOLS TRUST

YEAR ENDED 31 DECEMBER 2024

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

David Richardson ACA MRT Accountants Limited Independent Examiner Market House, 10 Market Walk Saffron Walden Essex CB10 1JZ

Date: 29 September 2025

- 7 -

JACT SUMMER SCHOOLS TRUST COMPANY LIMITED BY GUARANTEE

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT)

YEAR ENDED 31 DECEMBER 2024

Total Funds Total Funds
Unrestricted Restricted Year to Year to
Funds Funds 31 Dec 24 31 Dec 23
Note £ £ £ £
INCOMING RESOURCES
Incoming resources from
generating funds:
Activities for generating
funds 2 54 - 54 54
Investment income 3 1,595 - 1,595 998
Incoming resources from
charitable activities 4 566,136 - 566,136 535,136
------------------------------------ --------------------------- ------------------------------------- ------------------------------------
TOTAL INCOMING
RESOURCES 567,785 - 567,785 536,188
----------------------------------- --------------------------- ----------------------------------- -----------------------------------
RESOURCES EXPENDED
Charitable activities 6/7 584,445 - 584,445 516,925
Other costs 8 7,886 - 7,886 6,571
------------------------------------ --------------------------- ----------------------------------- -----------------------------------
TOTAL RESOURCES
EXPENDED 592,331 - 592,331 523,496
------------------------------------ --------------------------- ----------------------------------- -----------------------------------
NET
(OUTGOING)/INCOMING
RESOURCES FOR THE
YEAR AND NET
(EXPENDITURE)/INCOME
FOR THE YEAR (24,546) - (24,546) 12,692
RECONCILIATION OF FUNDS
TOTAL FUNDS BROUGHT
FORWARD 168,388 - 168,388 155,696
------------------------------------- --------------------------- ------------------------------------- -------------------------------------
TOTAL FUNDS CARRIED
FORWARD 143,842 - 143,842 168,388
==================================== ========================== ==================================== ====================================

The Statement of Financial Activities includes all gains and losses recognised in the year.

The Statement of Financial Activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

All income and expenditure derives from continuing activities.

The notes on pages 10 to 16 form part of these accounts.

- 8 -

JACT SUMMER SCHOOLS TRUST COMPANY LIMITED BY GUARANTEE

BALANCE SHEET

31 DECEMBER 2024

2024 2023
Note £ £ £
CURRENT ASSETS
Cash at bank and in hand 147,538 171,808
------------------------------------- -----------------------------------
147,538 171,808
CREDITORS: Amounts falling due within one
year 10 (3,696) (3,420)
------------------------------------ ------------------------------------
NET CURRENT ASSETS 143,842 168,388
------------------------------------- -------------------------------------
TOTAL ASSETS LESS CURRENT LIABILITIES 143,842 168,388
------------------------------------- ------------------------------------
NET ASSETS 143,842 168,388
==================================== ====================================
FUNDS
Unrestricted income funds 11 143,842 168,388
------------------------------------- -------------------------------------
TOTAL FUNDS 143,842 168,388
==================================== ====================================

The Trustees are satisfied that the Charity is entitled to exemption from the provisions of the Companies Act 2006 (the Act) relating to the audit of the accounts for the year by virtue of section 477, and that no member or members have requested an audit pursuant to section 476 of the Act.

The Trustees acknowledge their responsibilities for:

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

The accounts were approved by the Trustees on 29 September 2025 and are signed on their behalf by:

Prof J M Mossman Trustee

Company Registration Number: 07331184

The notes on pages 10 to 16 form part of these accounts.

- 9 -

JACT SUMMER SCHOOLS TRUST COMPANY LIMITED BY GUARANTEE

NOTES TO THE ACCOUNTS

YEAR ENDED 31 DECEMBER 2024

1. ACCOUNTING POLICIES

Charity information

JACT Summer Schools Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is situated at 10 Market Walk, Saffron Walden, Essex. CB10 1JZ

Accounting convention

The accounts have been prepared in accordance with the Charity’s governing document, the Companies Act 2006 and 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 (FRS102). The Charity is a Public Benefit Entity as defined by FRS102.

The Charity has taken advantage of the provisions in the SORP for charities applying FRS102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The accounts are prepared in sterling which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.

The accounts have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Going concern

At the time of approving the accounts, the Charity has a reasonable expectation that it has adequate resources to continue in operational existence for the foreseeable future. Thus the Charity continues to adopt the going concern basis of accounting in preparing the accounts.

Fund accounting

Unrestricted funds are 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. Unrestricted funds consist of the accumulated fund and general funds of the four summer schools.

Restricted funds are funds which are used in accordance with specific restrictions imposed by donors. The Charity does not currently have any Restricted funds.

Incoming resources

All incoming resources are included in the statement of financial activities when the Charity is legally entitled to the income, and the amount can be quantified with reasonable accuracy.

Specifically for grant income, where receipt of a grant is conditional on performance of a specific project, income is accounted for once the Charity earns the right to consideration by its performance. Where no conditions are applied to incoming grants, income is accounted for on receipt.

- 10 -

JACT SUMMER SCHOOLS TRUST COMPANY LIMITED BY GUARANTEE

NOTES TO THE ACCOUNTS

YEAR ENDED 31 DECEMBER 2024

ACCOUNTING POLICIES (continued)

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.

Charitable activities includes all costs relating to activities where the primary aim is part of the objects of the Charity, along with an apportionment of support costs.

Governance costs consist of the costs incurred in the management of the Charity and the costs of meeting its external reporting requirements.

Support costs consist of administration expenses incurred in the day to day management of the Charity, together with the cost of premises used for such activities. These costs are allocated across the categories of charitable expenditure, governance costs and costs of generating funds. Support costs are allocated on a labour basis, using the proportion of staff time allocated to certain activities, on the basis that this forms the fairest method of allocation of such costs.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Creditors

Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.

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. The charity has no bank loans or other more complex financial instruments that require measurement at amortised cost using the effective interest method.

Critical accounting estimates and judgements

In the application of the Charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

- 11 -

JACT SUMMER SCHOOLS TRUST COMPANY LIMITED BY GUARANTEE

NOTES TO THE ACCOUNTS

YEAR ENDED 31 DECEMBER 2024

ACCOUNTING POLICIES (continued)

Critical accounting estimates and judgements (continued)

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

2. INCOMING RESOURCES FROM ACTIVITIES FOR GENERATING FUNDS

Other income

Unrestricted Total Funds Total Funds
Funds 2024 2023
£ £ £
54 54 54
------------------------------- -------------------------------- --------------------------------
54 54 54
============================== =============================== ===============================

3. INVESTMENT INCOME

Bank interest receivable

Unrestricted Restricted Total Funds Total Funds Funds Funds 2024 2023 £ £ £ £ 1,595 - 1,595 998

All investment income of JSST is generated in the UK.

4. INCOMING RESOURCES FROM CHARITABLE ACTIVITIES

Unrestricted Restricted Total Funds Total Funds
Funds Funds 2024 2023
£ £ £ £
Grants 73,540 - 73,540 99,552
Summer School course and
residential fees 492,596 - 492,596 435,584
------------------------------------ -------------------------- ------------------------------------ -------------------------------------
566,136 - 566,136 535,136
==================================== ======================== ==================================== ====================================

- 12 -

JACT SUMMER SCHOOLS TRUST COMPANY LIMITED BY GUARANTEE

NOTES TO THE ACCOUNTS

YEAR ENDED 31 DECEMBER 2024

5. GRANTS AND DONATIONS

Grants and donations receivable are analysed as follows:

Unrestricted Restricted Total Funds Total Funds
Funds Funds 2024 2023
£ £ £ £
Branches – Summer Schools
Classical Civilisation & Ancient
History Summer School
Classical Association 2,750 - 2,500 2,500
Gilbert Murray Trust 430 - 430 800
Lytham St Anne's CA - - - 1,510
Cardiff and Vale 270 - 270 -
Greek Summer School
Classical Association 5,225 - 5,225 4,100
Jowett Copyright Trust 12,600 - 12,600 12,600
Oxford Univ, Craven Committee 3,000 - 3,000 2,750
Oxford Classics Faculty 3,300 - 3,300 3,300
Trinity College, Cambridge 1,500 - 1,500 1,500
Gilbert Murray/Cromer - - - 930
Cambridge Classics Faculty 7,000 - 7,000 7,000
JACT Greek Project - - - 3,440
Society for the Prom. Of Hellenic
studies 500 - 500 500
Cambridge Intensive Greek 13,155 - 13,115 11,490
Classics for all 495 - 495 840
Hudson Legacy - - - 1,720
Latin Summer School
Oxford Univ, Craven Committee 3,000 - 3,000 3,000
Cambridge Classics Faculty 2,000 - 2,000 2,000
Classical Association 4,250 - 4,250 4,100
Jowett Copyright Trust 5,250 - 5,250 5,250
Trinity College, Cambridge 1,000 - 1,000 1,000
Classics for All 1,690 - 1,690 1,800
Hudson Legacy - - - 1,550
Durham Summer School
University of Cambridge 1,500 - 1,500 1,500
Hellenic Society 500 - 500 500
Classical Association 2,500 - 2,500 2,500
Gilbert Murray - - - 460
Jowett Copyright Trust - - - 600
-------------------------------------- ---------------------------------- ---------------------------------- ----------------------------------
Balance carried down 71,915 - 71,915 79,240

- 13 -

JACT SUMMER SCHOOLS TRUST COMPANY LIMITED BY GUARANTEE

NOTES TO THE ACCOUNTS

YEAR ENDED 31 DECEMBER 2024

5. GRANTS AND DONATIONS (CONTINUED)

Unrestricted Restricted
Total Funds		 Total Funds
Funds Funds
2024		 2023
£ £ £ £
Balance brought down 71,915 - 71,915 79,240
Intermediate Certificate in
Classical Greek
Classics for All 2,625 - 2,625 9,944
Classical Association - - - 12,638
Central Fund
Classical Association – funds yet to
be distributed - - - 1,000
Transfer of funds previously
received to Summer Schools (1,000) - (1,000) (3,270)
-------------------------------------- -------------------------------------- -------------------------------------- --------------------------------------
73,540 - 73,540 99,552
==================================== ==================================== ==================================== ====================================

6. COSTS OF CHARITABLE ACTIVITIES BY FUND TYPE

Unrestricted Restricted Total Funds Total Funds
Funds Funds 2024 2023
£ £ £ £
Summer School Costs 574,840 - 574,840 510,661
Intermediate Certificate in
Classical Greek Costs 9,605 - 9,605 6,264
------------------------------------ ------------------------------------ ------------------------------------ ------------------------------------
584,445 - 584,445 516,925
================================== ================================== ==================================== ====================================

7. COSTS OF CHARITABLE ACTIVITIES BY ACTIVITY TYPE

Grant
Charitable funding Support Total Funds Total Funds
activities activities costs 2024 2023
£ £ £ £ £
Summer School
Costs 574,840 - - 574,840 510,661
Intermediate Cert. in
Classical Greek
Costs 9,605 - - 9,605 6,264
------------------------------------ -------------------------------------- --------------------------------- ------------------------------------ -------------------------------------
584,445 - - 584,445 516,925
==================================== ===================================== =============================== ==================================== ====================================

- 14 -

JACT SUMMER SCHOOLS TRUST COMPANY LIMITED BY GUARANTEE

NOTES TO THE ACCOUNTS

YEAR ENDED 31 DECEMBER 2024

8. OTHER COSTS

OTHER COSTS
Unrestricted Total Funds Total Funds
Funds 2024 2023
£ £ £
Accountancy fees 3,636 3,636 3,390
Administrative expenses 4,250 4,250 3,181
-------------------------------- -------------------------------- --------------------------------
7,886 7,886 6,571
=============================== =============================== ===============================

All other costs relate to the governance of the charity.

9. STAFF COSTS AND EMOLUMENTS

During both the current and preceding years, the Association had no employees and incurred no staff costs.

10. CREDITORS: Amounts falling due within one year

2024 2023
£ £
Accruals 3,696 3,420
-------------------------------- --------------------------------
3,696 3,420
=============================== ===============================

11. UNRESTRICTED INCOME FUNDS

Balance at Incoming Outgoing Balance at
1 Jan 2024 resources resources 31 Dec 2024
£ £ £ £
Classical Civilisation &
Ancient History Summer
School 14,150 15,993 (21,093) 9,050
Greek Summer School 94,800 299,827 (311,184) 83,443
Latin Summer School 19,292 152,158 (158,624) 12,826
Durham Summer School 19,289 93,129 (90,237) 22,181
Intermediate Certificate in
Classical Greek 19,565 7,530 (9,605) 17,490
General Funds 1,292 5,446 (7,886) (1,148)
-------------------------------------- --------------------------------------- --------------------------------------- --------------------------------------
168,388 574,083 (598,629) 143,842
==================================== ===================================== ==================================== =================================

Incoming and outgoing resources include amounts totalling £6,297 being transfers from the Summer Schools to the Central Fund. These are not included in the Statement of Financial Activity totals.

The unrestricted funds of the Charity are split between the main organisation, the four Summer Schools and the Intermediate Certificate in Classical Greek. Monies held by each fund are kept in separate bank accounts.

- 15 -

JACT SUMMER SCHOOLS TRUST COMPANY LIMITED BY GUARANTEE

NOTES TO THE ACCOUNTS

YEAR ENDED 31 DECEMBER 2024

12. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Tangible Net current
fixed assets assets
 Total
£ £ £
Unrestricted Income Funds:
Summer School Funds - 127,500 127,500
Intermediate Certificate in Classical Greek
Funds - 17,490 17,490
General Funds - (1,148) (1,148)
--------------------------------- --------------------------------- ---------------------------------
Total Funds - 143,842 143,842
================================ ================================ ================================

13. TRUSTEES' REMUNERATION AND EXPENSES

No remuneration was paid or payable for the year, directly or indirectly, out of the funds of the Charity, to any Trustee or to any persons known to be connected with any of them, in their capacity as Trustee.

Expenses totalling to £nil (2023 - £nil) were paid to trustees of the charity during the year.

14. COMPANY LIMITED BY GUARANTEE

The liability of Council Members is limited.

Every Council Member promises, if the Charity is dissolved while he remains a Council Member or within 12 months afterwards, to pay up to one pound towards the costs of dissolution and the liabilities incurred by the Charity while he was a Council Member.

- 16 -

JACT SUMMER SCHOOLS TRUST COMPANY LIMITED BY GUARANTEE

MANAGEMENT PAGES

YEAR ENDED 31 DECEMBER 2024

The following pages do not form part of the statutory accounts

- 17 -

JACT SUMMER SCHOOLS TRUST COMPANY LIMITED BY GUARANTEE

CLASSICAL CIVILISATION AND ANCIENT HISTORY SUMMER SCHOOL

YEAR ENDED 31 DECEMBER 2024

2024 2023
£ £
INCOME
Grants receivable 3,450 4,810
Course fees 15,730 26,970
------------------------------------ ------------------------------------
19,180 31,780
EXPENDITURE
Staff honoraria and expenses 3,600 3,000
Bursaries to students 3,187 3,778
External speakers 171 -
Residence and facilities 12,131 19,371
Professional fees 3,600 3,600
Insurance and contribution to JSST 755 678
Administration and sundry expenses 137 194
Travel, parking and subsistence 699 555
------------------------------------ ------------------------------------
24,280 31,176
------------------------------------ ------------------------------------
(DEFICIT)/SURPLUS FOR THE YEAR (5,100) 604
BALANCE AS AT 1 JANUARY 2024 14,150 13,546
------------------------------------ ------------------------------------
BALANCE AS AT 31 DECEMBER 2024 9,050 14,150
=============================== ===============================

- 18 -

JACT SUMMER SCHOOLS TRUST COMPANY LIMITED BY GUARANTEE

GREEK SUMMER SCHOOL

YEAR ENDED 31 DECEMBER 2024

2024 2023
£ £
INCOME
Grants and donations receivable 46,775 50,170
Course fees and residence and facility fees 300,552 280,111
Excursions & transport 2,900 2,323
Interest receivable 772 367
------------------------------------ ------------------------------------
350,999 332,971
EXPENDITURE
Staff honoraria and expenses 57,564 55,070
Bursaries to students 51,172 55,420
Residence and facilities 238,138 218,065
Insurance 923 774
Professional fees 623 644
Photocopying, postage and stationery 10,543 8,890
Administration and sundry expenses 1,515 1,337
IT system 318 360
Outreach and publicity 1,560 1,208
------------------------------------ ------------------------------------
362,356 341,768
------------------------------------ ------------------------------------
(DEFICIT) FOR THE YEAR (11,357) (8,797)
BALANCE AS AT 1 JANUARY 2024 94,800 103,597
----------------------------------- -----------------------------------
BALANCE AS AT 31 DECEMBER 2024 83,443 94,800
================================== ==================================

- 19 -

JACT SUMMER SCHOOLS TRUST COMPANY LIMITED BY GUARANTEE

LATIN SUMMER SCHOOL

YEAR ENDED 31 DECEMBER 2024

2024 2023
£ £
INCOME
Grants and donations receivable 17,190 18,700
Course fees 136,824 137,927
Sale of text books 1,874 2,280
Excursions and events 4,822 3,038
Interest receivable 728 547
______ ______
161,438 162,492
EXPENDITURE
Staff honoraria and expenses 39,072 37,833
Bursaries to students 9,280 15,100
External speakers 2,631 1,692
Residence and facilities 92,736 85,393
Materials 5,498 8,371
Excursions 10,064 4,724
Insurance and contribution to JSST Central Fund - 1,708
Professional fees 7,519 7,622
Administration and sundry expenses 1,104 636
------------------------------------ ------------------------------------
167,904 163,079
------------------------------------ ------------------------------------
(DEFICIT) FOR THE YEAR (6,466) (587)
BALANCE AS AT 1 JANUARY 2024 19,291 19,878
------------------------------------ ------------------------------------
BALANCE AS AT 31 DECEMBER 2024 12,825 19,291
=============================== ===============================

- 20 -

JACT SUMMER SCHOOLS TRUST COMPANY LIMITED BY GUARANTEE

DURHAM SUMMER SCHOOL

YEAR ENDED 31 DECEMBER 2024

2024 2023
£ £
INCOME
Grants and donations receivable 4,500 5,560
Course fees 96,839 57,581
-------------------------------- --------------------------------
101,339 63,141
EXPENDITURE
Staff honoraria and expenses 16,574 11,660
Bursaries to students 8,210 3,595
Residence and facilities 72,536 41,835
Insurance and contribution to JSST Central Fund 693 854
Administration and sundry expenses 253 198
Travel, parking and subsistence - 100
Website 181 181
------------------------------------ ------------------------------------
98,447 58,423
------------------------------------ ------------------------------------
SURPLUS FOR THE YEAR 2,892 4,718
BALANCE AS AT 1 JANUARY 2024 19,289 14,571
------------------------------------ ------------------------------------
BALANCE AS AT 31 DECEMBER 2024 22,181 19,289
================================== ==================================

- 21 -

JACT SUMMER SCHOOLS TRUST COMPANY LIMITED BY GUARANTEE

INTERMEDIATE CERTIFICATE IN CLASSICAL GREEK

YEAR ENDED 31 DECEMBER 2024

2024 2023
£ £
INCOME
Grants and donations receivable 2,625 22,582
Exam entry fees 4,905 3,247
-------------------------------- ----------------------------------
7,530 25,829
EXPENDITURE
Examiner payments 1,881 2,262
Administration expenses 5,065 2,284
Printing 2,094 958
Website 565 760
------------------------------------ -----------------------------------
9,605 6,264
------------------------------------ ------------------------------------
(DEFICIT)/SURPLUS FOR THE YEAR (2,075) 19,565
BALANCE AS AT 1 JANUARY 2024 19,565
-
------------------------------------ ------------------------------------
BALANCE AS AT 31 DECEMBER 2024 17,490 19,565
================================== ==================================

- 22 -