2022-02-13-accounts - The Jectus Charitable Foundation

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Trustees' Annual Report for the period

Period start date Period end date Day Month Year Day Month Year From 14 February 2021 To 13 February 2022

Section A Reference and administration details

Charity name The Jectus Charitable Foundation

Other names charity is known by Registered charity number (if any) 1171994

Charity's principal address Trustee Department 1[st] Floor, Tower Wharf Cheese Lane, Bristol Postcode BS2 0JJ

Names of the charity trustees who manage the charity

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20	Trustee name	Office (if any)	Dates acted if not for whole year	Name of person (or body) entitled to appoint trustee (ifany)
	Christopher Leach
	Christine Leach
	Coutts & Co		To 06 April 2021
	Ludlow Trust CompanyLimited		From 06 April 2021
















	Names of the trustees for the charity, if any, (for example, any custodian trustees)
	Name		Dates acted if not for whole year

TAR

March 2012

Names and addresses of advisers (Optional information)

Names and addresses of advisers (Optional information)	Names and addresses of advisers (Optional information)	Names and addresses of advisers (Optional information)
Type of adviser Name Address
Investment Managers	Coutts & Co	440 The Strand, London, WC2R 0QS
Bankers	Coutts & Co	440 The Strand, London, WC2R 0QS
Solicitors	TLT LLP	One Redcliffe Street, Bristol, BS1 6TP
Independent Examiner	Geoffrey Frost	Blue Spire Limited, Cawley Priory, South Pallant, Chichester, West Sussex, PO19 1SY

Name of chief executive or names of senior staff members (Optional information)

Section B Structure, governance and management

Description of the charity’s trusts

Trust deed dated 17 February 2017 Type of governing document

(eg. trust deed, constitution)
How the charity is constituted

Trust

(eg. trust, association, company)

Trustees are appointed by the settlors during their lifetimes and subject to Trustee selection methods this by the trustees. (eg. appointed by, elected by)

Additional governance issues (Optional information)

You may choose to include additional information, where relevant, about:

policies and procedures adopted for the induction and training of trustees;
the charity’s organisational structure and any wider network with which the charity works;
relationship with any related parties;
trustees’ consideration of major risks and the system and procedures to manage them.

Section C Objectives and activities

Summary of the objects of the charity set out in its governing document

The trustees shall hold the capital and income of the trust fund to apply the income, and all or such part or parts of the capital, at such time or times and in such manner to, or for the benefit of such exclusively charitable objects and purposes in any part of the world and in such manner as the trustees may in their discretion think fit.

TAR

March 2012

In furtherance of the charity’s objects for the public benefit the trustees provides grants. In determining the charity’s activities the trustees have had regard to the Charity Commission’s guidance on public benefit.

Summary of the main activities undertaken for the public benefit in relation to these objects (include within this section the statutory declaration that trustees have had regard to the guidance issued by the Charity Commission on public benefit)

Additional details of objectives and activities (Optional information)

You may choose to include further statements, where relevant, about:

policy on grantmaking;
policy programme related investment;
contribution made by volunteers.

TAR

March 2012

Section D Achievements and performance

Summary of the main During the year under review the charity made 4 grants totalling £60,000 achievements of the charity as set out in the notes. during the year

TAR

March 2012

Section E Financial review

Brief statement of the

charity’s policy on reserves

At the end of the reporting period the charity had free reserves amounting to £17,946 (2021: £2,345).

In addition to the free reserves the charity has bank balances of £676,429 (2021: £489,922) and investment assets of £1,019,267 within the expendable endowment fund.

The Trustees pursue a policy of maintaining a free reserve available to be spent in the furtherance of the charity’s objectives, as well as covering future needs, opportunities, contingencies and risks.

Details of any funds materially in deficit

Further financial review details (Optional information)

You may choose to include additional information, where relevant about:

the charity’s principal sources of funds (including any fundraising);
how expenditure has supported the key objectives of the charity;
investment policy and objectives including any ethical investment policy adopted.

Section F Other optional information

Section G Declaration

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s) Full name(s)[Chris Thurlow ] On behalf of Ludlow Trust Company Limited Position (eg Secretary, Chair, etc) Date

TAR

March 2012

Charity Name		No (if any)
The Jectus Charitable Foundation		1171994
Receipts andpayments accounts			CC16a
For the period from Period start date 14 February2021	To	Period end date 13 February2022

Section A Receipts and payments

A1 Receipts	Unrestricted funds to the nearest £ - - 15,593 16 - - - - 15,609 - - - 15,609 60,000 - 780 6,103 - - - - - 66,883 - - - 66,883 (51,274) 66,875 2,345 17,946	Restricted funds to the nearest £ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -	Endowment funds to the nearest £ - 250,000 - - - - - - 250,000 495,574 - 495,574 745,574 - 11,024 - - - - - - - 11,024 481,168 - 481,168 492,192 253,382 (66,875) 489,922 676,429	Total funds to the nearest £ - 250,000 15,593 16 - - - - 265,609 495,574 - 495,574 761,183 60,000 11,024 780 6,103 - - - - - 77,907 481,168 - 481,168 559,075 202,108	Last year to the nearest £
Addition to trust	-				500,000
Gift aid	-				-
Investment income	15,593				12,532
Income from bank interest	16				461
	-				-
	-				-
	-				-
	-				-
*Sub total*(Gross income for AR)	15,609				512,993

A2 Asset and investment sales, (see table).
Sale of investments	-				578,336
	-				-
*Sub total*	-				578,336
*Total receipts* A3 Payments
					1,091,329

Grants awarded	60,000				86,000
Inv mgmt and admin	-				13,590
Independent examination	780				740
Administrative services	6,103				-
	-				-
	-				-
	-				-
	-				-
	-				-
**Sub total **	66,883				100,330

A4 Asset and investment purchases, (see table)
Investmentpurchases	-				583,581
	-
**Sub total **	-				583,581
*Total payments* *Net of receipts/(payments)* A5 Transfers between funds A6 Cash funds last year end **Cash funds this year end **
					683,911

	(51,274)	-	253,382	202,108	407,418
	66,875	-	(66,875)	-	-
	2,345	-	489,922	492,267	84,849
	17,946	-	676,429	694,375	492,267

CCXX R6 accounts (SS)

Section B Statement of assets and liabilities at the end of the period	Section B Statement of assets and liabilities at the end of the period	Section B Statement of assets and liabilities at the end of the period
Categories Signed by one or two trustees on behalf of all the trustees B5 Liabilities B4 Assets retained for the charity’s own use B3 Investment assets B2 Other monetary assets B1 Cash funds	Signature Inv mgmt and admin Independent examination Administrative services Details Details Details Investments Details (agree balances with receipts and payments account(s)) Capital account Income account 2 Reserve account 2 *Total cash funds* Income account Reserve account Capital account 2	Unrestricted funds Restricted funds to nearest £ to nearest £ - - 17,946 - - - - - - - - - 17,946 - OK OK Unrestricted funds Restricted funds to nearest £ to nearest £ - - - - - - - - - - - - Fund to which asset belongs Cost (optional) Endowment - - - - - Fund to which asset belongs Cost (optional) - - - - - - - Fund to which liability relates Amount due (optional) Endowment 596 Unrestricted 780 Unrestricted 1,561 - - Print Name Chris Thurlow On behaf of Ludlow Trust Company Limited	Endowment funds to nearest £
			676,429
			-
			-
			-
			-
			-
			676,429
			OK
			Endowment funds to nearest £
			-
			-
			-
			-
			-
			-
			Current value (optional)
			1,019,267
			-
			-
			-
			-
			Current value (optional)
			-
			-
			-
			-
			-
			-
			-
			When due (optional)





			Date of approval
		Chris Thurlow On behaf of Ludlow Trust Company Limited

CCXX R7 accounts (SS)

Section C Notes to the Accounts

Section C Notes to the	Accounts	Accounts
C2 Grants to institutions C3 Related party transactions C1 Nature and purpose of funds(may be stated on analysis of funds worksheets)	Unrestricted income funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charityand which have not been designated for otherpurposes. 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.
	Recipient - 1 payment unless annotated St Mungo Community Housing Association ActionAid Creative Youth Magic Breakfast	£ 20,000 10,000 10,000 20,000
		60,000

	No trustee received any remuneration nor reimbiursed any expenses in the year under review. During the year under review Coutts & Co, a trustee of the charity to April 2021, were paid fees for the provision of administration and investment management services amounting to £4,177 whilst a trustee. Ludlow Trust Company Limited was appointed trustee in April 2021 and paid fees for administrative services between appointment and the reporting date totalling £6,103. These fees are authorised under clause 6 of the trust deed.

CCXX R8 accounts (SS)

Independent Examiner's Report to the Trustees of The Jectus Charitable Foundation

I report to the charity trustees on my examination of the accounts of the charity for the year ended 13 February 2022 as set out on pages 6 to 8.

Responsibilities and basis of report

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

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 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 Act; or 2. the accounts do not accord with those records.

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 accounts to be reached.

Geoffrey Frost BSc(Hons) FCA Date Blue Spire Limited Cawley Priory South Pallant Chichester West Sussex PO19 1SY