THE JOHN RAYMOND TIJOU CHARITABLE TRUST REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2022 Charity Number 1146260 THE JOHN RAYMOND TIJOU CHARITABLE TRUST CONTENTS PAGE Pages Reference and Administration Details Report of The Trustee Independent Exarniner's Report Receipts and Payments Account statement of Assets and Liabilrties THE JOHN RAYMOND TIJOU CHARITABLE TRUST REFERENCE AND ADMINISTRATION DETAILS Corporate Trustee HSBC Trust Company (UK) Limited Current Directors of Corporate Trustee J Coyle P M Spencer J Hewitson Trust Manager S Hill Principal Office Forum 1 The Forum Parkway Whiteley Fareham Hampshire P015 7PA Independent Examiner Frances Millar ACA RSM UK Tax and Accounling Limited Highfield Court Tollgate Chandlers Ford Eastleigh Hampshire S053 3TY Bankers HSBC Bank plc Forum 1 The Forum Parkway Whiteley Fareham Hampshire P015 7PA Investment Managers HSBC UK Bank plc 1 Centenary Square Birmingham B1 1HQ THE JOHN RAYMOND TIJOU CHARITABLE TRUST REPORT OF THE TRUSTEE FOR THE YEAR ENDED 5 APRIL 2022 The Trustee presents its report together wilh the financial statements of the charity for the year ended 5 April 2022, which have been prepared on a receipts and payments basis. The financial statements have been prepared in accordance with the charity's constitution and applicable law. The purchase and sale of investments results from the day to day management of the investment portfolio by the investment managers. In accordance with the Charities Act, the financial slalernents have been prepared on the receipts and paymen15 basis given that the definition of gross income excludes the receipt of any endowment, loans and proceeds from the sale of investments or fixed assets. Structure, government and management The John Raymond Tijou Charitable Trust is an unincorporated trust 2nd is constituted under the terms of the trust deed dated 9 February 2012. The trust is a registered charity {no. 1146260). The Corporate Trustee has appointed a designated trust manager to look after the charty. The inveslmenl manager reviews the performance and provides recommendations on the struclure of the investment portfolios. The powei to appoint additional Trustees is vested in the Ckjrrent Trustee. and is exercisable in writing. Should new Trustees be appointed. the eXist￿ng Trustee would take responsibility of their induction. The Trustee has examined the major strategic, business and operational risks which the charity faces and confirms that system5 have been established lo enable regular reports lo be produced so that the necessary steps can be taken to rnitigate these risks. The main risk in the year was considered lo be the variability of investment retLirns. Oblectives and activities The objectives of the charity are to pay or to apply the income of the trust for the benefit of such registered, excepted and exempt charitie5 as the Trustee in its sole discretion shall decide, in accordance with the tems of the governing document. Charitable payments may also be made from the capital fund at the discretion of the Trustee. The trust awards grants to charitable institutions. The Trust Manager reviews applications for grants and grants are awarded at the d15cretion of the Trustee. bul having regard to Charities associated with medical purposes. Achievements and perfomiance During the year no grants 12021.. 31 were awarded totalling £nil (2021.. £8,000) to charitable institutions under the terms of the governing documenl. No grants were awarded to individuals in either year. Financial revlew The charity received funds from the estate of John Raymond Tijou under the terms of the trust deed which must be held for perpetuity- These funds generate income. which is used for grant making. in accordance with the objectives set out above. The fund generated income of £40,895 12021: £38.3981 in the year lo fund its charitable activities. The expenditure on charitable activities was £14,130 12021.. £14,607), of which £nil 12021.. £8,000) was charitable expenditure in the fom of grants to charitable institutions. THE JOHN RAYMOND TIJOU CHARITABLE TRUST REPORT OF THE TRUSTEE cont. FOR THE YEAR ENDED 5 APRIL 2022 Investment policy In accordance with the governing document, the Truslee has the power to invest in such stocks, shares, investments and propety as they see fit. The Trustee engaged HSBC UK Bank plc as Investment Manager. The policy is to adopt a low to medium risk investment strategy lo protect, in absolute terms, the capital value of the fund whilst producing a sustainable and growing level of income, and also providing the potential for longer term growth of capital in real terms. Reserves policy The unrestricted funds. which are the free reserves of the charity, and which are represented by the income arising are paid over to beneficiaries throughout the year. It is not Ihe policy of the charity to maintain specific reserves. The expendable endowment funds represent those assets, which are held permanently by the charity, principally investments. Income arising on the endowment fund can be used in accordance with the objectives of the charity and is included as unrestricted income. Any capital gains or losses arising on the investments form part of the fund. The Trustee has the power lo convert this fund into income. Public benefit We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the Trustee considers how planned activities will contribute to the aims and objectives they have sel. Plans for the f uture The Trustee intends to continue providing grants in a similar way to the recent past whilst retaining fiexibilty as to the timing and scale of grant rnaking. Related parties The Corporate Trustee and the Investment Manager are both wholly owned subsidiaries of HSBC Holdings plc. In addition lo the fees shown on page 6, as a result of the acquisition and disFxJsal of investments, the trust pays transaction charges to HSBC Bank plc. The charges are calculated on a sliding scale at a percentage of the transactions value plus VAT and are added lo or deducted from the cost of the investments or the disposal proceeds in accordance with UK standard accounting practice. THE JOHN RAYMOND TIJOU CHARITABLE TRUST REPORT OF THE TRUSTEE cont. FOR THE YEAR ENDED 5 APRIL 2022 Statement of Trustee's responsibilities in relation to the financial statements The law applicable lo charities in England and Wales requires the Trustee to prepare financial s13tements for each financial year which give a true and fair view of the charity's financial activities during the year and of it's financial position at the end of the year. In preparing those financial statements, giving 8 true and fair view, the Trustee should follow best practice and.. select suitable accounting policies and Ihen apply them consistently., makejudgements and estimates that are reasonable and prudenl., slate whether applicable accounting standards and statements of recommended practice have been followed. subject to any departureg disclosed and explained in the financial slatemenls., and prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charity will continue in operation. The Trustees are responsible for keeping accounling records which disclose with reasonable accuracy the financial position of the charity- This enables them to ascertain the financial posrtion of the charity and enables them lo ensure the financial statements comply with the Charf(ies Act 2011, the Charity (Accounts and Reports) 2008 Regulations and the provisions of the trust deed. The Trustee is responsible for safeguarding the 2Ssets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the Trustee and signed on its behalf-. HS rust Co pany UK) Limited Date-. 201., IL" THE JOHN RAYMOND TIJOU CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEE OF THE JOHN RAYMOND TIJOU CHARITABLE TRUST I report to the Truslee on my examination of the financial statements of The John Raymond Tijou Charitable Trust for the year ended 5 April 2022. which are set out on pages 6 to 7. Responslblllties and basis of report As the Trustee of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 I'the 2011 Act,). I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable directions given by Ihe Charity Commission under section 14515)Ibl of the 2011 Act. An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audi( goes beyond the limited assurance that an independent examination Can provide. Consequenuy, l express no opinion as lo whether the financial statements present a 'lTue and fair view, and my report is limited to those specific matters set out in the independent examiner's statement Independent Examiner's statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me reasonable cause to believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act., or 2. the financial statements do not accord with those records- or 3. the financial statements do not comply with the applicable requirements Con￿rning the fomi and content of financial statements sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that Ihe financial statements give 8 'true and fair view, which is not a matter considered as part of an independent examination. 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. Frances Millar ACA The Institute of Chartered Accountants in England and Wales Chartered Accountant On behalf of RSM UK Tax and Accounting Limited Chartered Accountanls Highfield Court Tollgate Chandlers Ford Eastleigh Hampshire S053 3TY 27-Jan-2023 Date.. THE JOHN RAYMOND TIJOU CHARITABLE TRUST RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED S APRIL 2022 Unrestricted funds Endowment funds Totsl 2022 Total 2021 Receipts Investment income 40,895 40,895 38,398 40,895 40.895 38,398 Investment sale proceeds Pttsceeds from Sa￿ ol investments 2.731,829 2,731,829 5.349,893 Total receipts 40,895 2.731,829 2,772,724 5,388,291 Payments Cost of generating funds Investment service charge 11,058 11,058 17,340 Charilable activities Grants paid Other alk)eated costs 8,000 6,607 14,130 14.130 Govemance costs Independent examirerfs fee 3,450 3,450 3,348 17.580 11,058 28,638 35,295 hvestrnent purchases Payments for purchase of investments 2,702,418 2.702,418 5.346,988 Total payments 17.580 2.713,476 2,731,056 5,382.283 Nel Ipaymentsl I receipts 23,315 18,353 41.668 6,008 TrarEfer of funds 14,3941 4,394 Cash invested at 6 April 2021 5,487 56,072 61,559 55,551 Cash invested at 5 April 2022 24,408 78,819 103,227 61,559 These unaudited financial stalemenls have been subjected to independent examinalion. See report on page 5. THE JOHN RAYMOND TIJOU CHARITABLE TRUST STATEMENT OF ASSETS AND LIABILITIES AS AT S APRIL 2022 Unrestricted EndoTrMrnnt funds funds Total 2022 Total 2021 Investn*nts UK Fixed Interest Securit Ovetseas Fixed hterest SecLtri(ies UK Equities Overseas Equities Ajlematnie Investment Other Trust A8sets Cash 71,962 1,734.470 34,649 473,672 676.419 309.247 1,138,147 279,680 676.419 309,247 1.138.147 279.680 24.408 78,819 103,227 61,559 24,408 2,482,313 2,506,721 2,376,313 Liabilities Professional fees p8yable 3,625 3,625 3.450 Approved by the Trustee and aLrthorised for issue on.. and signed on its behalf.. HSBC TTUSt Company {UKj Limited These unaudited financial statements have been subjected to independent examination. See report on page 5.