## **Trustees' Annual Report for the period**
Period start date Period end date 01 01 2020 31 12 2020
**From**
**To**
## Section A Reference and administration details
**Charity name Other names charity is known by Registered charity number (if any)** 1184095
The Martin-Jenkins Foundation
**Charity's principal address** Pythingdean Farmhouse Pulborough **Postcode RH20 1BS**
## **Names of the charity trustees who manage the charity**
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20|**Trustee name**|**Office (if any)**|**Dates acted if not for whole**
**year**|**Name of person (or body) entitled**
**to appoint trustee (if any)**|
|---|---|---|---|---|
||Tim Martin-Jenkins|Chairman|||
||LilyMartin-Jenkins||||
||Robin Martin-
Jenkins||3 August – 31 December
2020||
||James Martin-
Jenkins||1 January- 3 August
2020||
||||||
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**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**
1
**Names and addresses of advisers (Optional information) Type of adviser Name Address Name of chief executive or names of senior staff members (Optional information) Section B Structure, governance and management**
## **Description of the charity’s trusts**
Constitution Type of governing document (eg. trust deed, constitution) Chartered Incorporated Organisation How the charity is constituted (eg. trust, association, company) Appointed Trustee selection methods (eg. appointed by, elected by)
## **Additional governance issues (Optional information)**
Tim Martin-Jenkins is a Member of the Council of Marlborough College You **may choose** to include (reg charity 309486) and a Trustee of The Marlborough College additional information, where Foundation (reg charity 1061798). These charities benefit from grants relevant, about: made by the Martin-Jenkins Foundation.
- 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**
To advance any purposes which are exclusively charitable under the law of England and Wales from time to time by providing grants to charities or other non-profit organisations or individuals identified by the trustees at their discretion focusing mainly on the UK.
**TAR**
March **2012**
2
The trustees have continued to have regard to the guidance issued by the Charity Commission 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)**
The trustees have continued to work with The Marlborough College Foundation (charity number 1061798) to support means tested bursaries for pupils unable to afford fees, and programmes for social mobility through raising awareness of and preparation for university education. The trustees continued to support the furtherance of science and innovation teaching. We have worked closely with The Marlborough College Foundation to frame and extend the ambitions of Marlborough College to increase social mobility, partnering with local schools and providing transformative educational opportunities for young people.
## **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**
3
Section D Achievements and performance
**Summary of the main achievements of the charity during the year**
Grants of £235,000 were made to Marlborough College, to further social mobility and science innovation. The trustees decided that the custodian and dealing costs of holding most of its investment portfolio with an investment bank were not justifiable, so most of the portfolio was moved to an online dealing platform. In 2019, MJF was fortunate to receive as its founding capital a strong portfolio of shares in six great companies, an investment trust, two unit trusts and one index tracker. It was determined that the portfolio was not sufficiently diversified. In July 2020 all the company shares, and one unit trust were sold, and the proceeds mainly reinvested in the other unit trust and in two investment trusts. Diversification is now obtained through the underlying holdings of these investment vehicles. It is intended that these will be long term investments. The investment performance in a difficult year was strong and the value of the investment portfolio increased by 20%.
After much difficulty in finding a bank that would serve a small charity, MJF opened an account with the efficient Co-Operative Bank.
**TAR**
March **2012**
4
## **Section E Financial review**
**Brief statement of the charity’s policy on reserves**
**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.
The trustees decided that the custodian and dealing costs of holding most of its investment portfolio with an investment bank were not justifiable, so most of the portfolio was moved to an online dealing platform. In 2019, MJF was fortunate to receive as its founding capital a strong portfolio of shares in six great companies, an investment trust, two unit trusts and one index tracker. It was determined that the portfolio was not sufficiently diversified. In July 2020 all the company shares, and one unit trust were sold, and the proceeds mainly reinvested in the other unit trust and in two investment trusts. Diversification is now obtained through the underlying holdings of these investment vehicles. It is intended that these will be long term investments. The investment performance in a difficult year was strong and the value of the investment portfolio increased by 20%.
- After much difficulty in finding a bank that would serve a small charity, MJF opened an account with the efficient Co-Operative Bank.
## **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)** tdmj **Full name(s)** Timothy Dennis Martin-Jenkins **Position (eg Secretary, Chair,** Chair of Trustees **etc) Date** 8 May 2021
**TAR**
March **2012**
5
|**Charity Name**|||**No (if any)**|||
|---|---|---|---|---|---|
|**The Martin-Jenkins Foundation**|||**1184095**|||
|**Receipts andpayments accounts**|||||**CC16a**|
|**For the period**
**from**|**01-Jan-20**
Period start date|**To**|**31-Dec-20**
Period end date|||
|**Section A Receipts and payments**|**Section A Receipts and payments**|**Section A Receipts and payments**||||||||
|---|---|---|---|---|---|---|---|---|---|
|**A1 Receipts**|**Unrestricted**
**funds**
**to the nearest £**||**Restricted funds**
**to the nearest £**||**Endowment**
**funds**
**to the nearest £**||**Total funds**
**to the nearest £**||**Last year**
**to the nearest £**|
|
Dividends Fundsmith
direct|**-**||**-**||**917**||**917**||**-**|
|Dividends Investec|**-**||**-**||**9,663**||**9,663**||**-**|
|Dividends Sharecentre|**-**||**-**||**1,188**||**1,188**||**-**|
|Donation from Fanling
Trust|**-**||**215,000**||**-**||**215,000**||**225,000**|
|HSBC interest|**5**||**-**||**-**||**5**||**-**|
|Cash|**-**||**-**||**-**||**-**||**20,039**|
|Interest|**-**||**-**||**-**||**-**||**15**|
|Dividends|**-**||**-**||**-**||**-**||**4,401**|
|**_Sub total_**_(Gross income_
_for AR)_|**5**||**215,000**||**11,768**||**226,773**||**249,455**|
|||||||||||
|**A2 Asset and**
**investment sales, (see**
**table).**||||||||||
|**Sale of Shares**|**-**|||||||||
||**-**||||||||**-**|
|**_Sub total_**|**-**||||||||**-**|
|**_Total receipts_ **
**A3 Payments**||||||||||
||||||||||**249,455**|
|||||||||||
|Marlborough College|**10,000**||**215,000**||**10,000**||**235,000**||**225,000**|
|Bank charges|**40**||**-**||**-**||**40**||**-**|
|Investec fees|**-**||**-**||**2,730**||**2,730**||**-**|
|Sharecentre fees|**-**||**-**||**118**||**118**||**-**|
|Upreach|**-**||**-**||**-**||**-**||**1,000**|
|Investment fees and
charges|**-**||**-**||**-**||**-**||**420**|
||**-**||**-**||**-**||**-**||**-**|
||**-**||**-**||**-**||**-**||**-**|
||**-**||**-**||**-**||**-**||**-**|
|**_Sub total_ **|**10,040**||**215,000**||**12,848**||**237,888**||**226,420**|
**A4 Asset and investment purchases, (see table)**
~~CCXX R1 accounts (SS)~~
08/05/2021
1
|**Purchase of shares**
**_Sub total_ **
**_Total payments_ **
**_et of receipts/(payments)_ **
**A5 Transfers between fu **
**A6 Cash funds last year**
**_Cash funds this year end_**|**Purchase of shares**|**-**||**-**||**816,567**||**816,567**|||
|---|---|---|---|---|---|---|---|---|---|---|
|||**-**||**-**||**-**||**-**|||
||**_Sub total_ **|**-**||**-**||**816,567**||**816,567**||**-**|
||||||||||||
|||||||||||**226,420**|
||||||||||||
|||**- 10,035**||||||||**23,035**|
|||**- 100**||||||||**-**|
|||**e 19,054**||||||||**-**|
|||**8,919**||||||||**23,035**|
CCXX R2 accounts (SS)
08/05/2021
2
|**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
**B1 Cash funds**
**B2 Other monetary assets**
**B4 Assets retained for the**
**charity’s own use**
**B5 Liabilities**
**B3 Investment assets**|Signature
tdmj
**Details**
**Details**
Co-operative Bank
Pending Investment Sharecentre
Investec
**Details**
**Details**
**_Total cash funds_**
(agree balances with receipts and payments account(s))
**Details**
Sharecentre
Fundsmith
Investec|**Unrestricted**
**funds**
**Restricted funds**
**to nearest £**
**to nearest £**
**8,919**
**-**
**-**
**-**
**-**
**-**
**8,919**
**-**
OK
OK
**Unrestricted**
**funds**
**Restricted funds**
**to nearest £**
**to nearest £**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**Fund to which asset**
**belongs**
**Cost (optional)**
Endowment
**-**
Endowment
**-**
Endowment
**-**
**-**
Endowment
**-**
**Fund to which asset**
**belongs**
**Cost (optional)**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**Fund to which**
**liability relates**
**Amount due**
**(optional)**
**-**
**-**
**-**
**-**
**-**
Print Name
Tim Martin-Jenkins|**Endowment**
**funds**
**to nearest £**|
||||**-**|
||||**203,569**|
||||**914**|
||||**204,483**|
||||OK|
||||**Endowment**
**funds**
**to nearest £**|
||||**-**|
||||**-**|
||||**-**|
||||**-**|
||||**-**|
||||**-**|
||||**Current value**
**(optional)**|
||||**1,182,983**|
||||**263,724**|
||||**116,348**|
||||**-**|
||||**1,563,055**|
||||**Current value**
**(optional)**|
||||**-**|
||||**-**|
||||**-**|
||||**-**|
||||**-**|
||||**-**|
||||**-**|
||||**-**|
||||**-**|
||||**When due**
**(optional)**|
|||||
|||||
|||||
|||||
|||||
|||||
||||Date of approval|
||tdmj|Tim Martin-Jenkins|08-May-21|
|||||
CCXX R3 accounts (SS)
08/05/2021
3
CHARITY COMMISSION
FOR ENGLAND AND WALES
Independent examinerfs
report on the accounts
Section A
Independent Examinef s Report
Report to the trusteesl
members of
On accounts for the year
ended
31
Charity no
(rf any)
I IP+oqS
Set out on pages
I report to the trustees on my examination of the accounts of the above
charity fthe Trusf) for the year ended
Responsibilities and As the charity trust*s of the Trust. you are responsible for the preparation
basis of report of the a(£ounts in accordance with the r4uirements of the Charities Act
2011 {e Acr)
I report in resped of my examination of the Trusfs accourrts carried out
under section 145 of the 2011 Act and in carying out my examination, I
have followed the applicable Directions given by the Charty Commission
under secAion 145{5)(b) of the Act.
I have completed my examination. I Confi that no material matters have
come to my attention
in connertion with
the examinab'on which gives me cause to believe that in, any material
Independent
examiner's statement
accounting records were kept in accordan wtth section 130 of
the Ad or
the accounts do not accord wtth the accounting records
I have no concems and have come a(xoss no other matters in connection
with the examination to which attention should be drawn in order to enable
proper ure[standing of the accounls to be reached.
. Fyease delete the wo$ in the bCketS rfthey Ik) not apply.
Signed:
Date:
Isi 2A)*I
Narne:
zfAtr16S
Relevant professional
qualrfication{s) or body
lif any)-
Address:
IER
October 2018
Section B
Disclosure
Only complete rf the examiner needs to highlight matters of COnM (see CC32,
Independent examination of charity accounts.. directions and guidance for
examiners).
Give here brief details of
any items that the
examiner wishes to
disclose.
IER
October 2018