Ch4rity regl8tration number 1184952 THE MARJORIE JAYE CHAIUTABLE FOUNDAT10Tr4 ANNUAL REPORT AND UNAUDrrED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 21124
THE MARJORIE JAIT CHARITABLE FOUNDATION LEGALAND ADMIMSTRATIVE INFORMATION Trustees S C Jaye, Chair S Jaye C C Jensen Charity number 1184952 Prlncipal address 40 Church Street Stsines upon Thames Mkddlesex Unifrd Kingdom TW18 4EP Independent exAmlner David Howard CredACC1)lllltants I Park Road Hampton Wi¢k gston Upon Thdmes KTI 4AS
THE MARJOIUE JAYE CHARITABLE FOiJNDATION CONTENTS Pag¢ Truste report Independent examiti¢rfs report ststement Df fin8ncial activities Balance shcct Notes to th¢ finallcial statements 7-12
THE MARJORIE JAYE CHARITABLE FOUNDATION TRUSTEES REPORT FOR THE YEAR EM)ED 31 MARCH2024 The Trustees present their annual report and financial statements for the year ended 31 Mar¢h 2024. Thc financial stat¢ment8 have beets prepared in accordance with the accourLting policies set out in note I to the fiuancial ststemcnts and ¢omply with tbe Charity's CIO Con5titutiim, th¢ Charities Act 2011 and "Accounting and Reportxng by Charities: Statement of ReLommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applic&bl¢ in the UK and Republic of Ireland {FRS 102) (effertive l January 2019)" Objeetlves and #ctivitles The objectives of the CIO are for the public benefit to pay or apply the income and the whole or part of th¢ capital for such exclustvely charitable objects as the trustees froTn time to time in their absoluts discretion deterniin¢. The TStee5 have paid du¢ regard to ida issued by the Charity Commission iti de¢Éding what activities the chlty should widertake. Flninelal ree Totsl income for the ttriod £49,134 (2023: £48.709). Total expellditure for the period was £104,433 (2023: £43,499). Net profit on investmeat for the p10d was £422.292 (2023: (£502222). Golng coneern After making appropriate enquiries, the Trustees have a re8sonabl¢ ¢xp¢¢tation that the Charity ha5 a(kquate resources to Continue in operational existence for tbe forese¢abl¢ thtur¢. For this reasotL they continue to adopt the going concern basTS in preparing the fmancial st&tements. Further d¢t&xls regardin8 the adoption of the going conccm basis can bc fOUt ill tbe accounting policies. Res¢rves Polley It Is the intention of the CIO to only apply the share of the fund that exceeds the Original £5M deposit, such that thc fund is able to grow year oll year and continue to provide a sour¢¢ of fim¢ls for applying to chosen charitable caus¢s. Plans for the future It is intended to start applying the funds that exceed £5M into the charitsble areas of palliative care, e]dlY care and children based rharities. Revieiv of our achlevements 2nd perform*nce The CIO has not wried out aoy livi¢S to date and all funds remain invested Evelyn Partlle (fomlcrly Smith & Williamson LLP). which has Gotitillucd to managc the capital in a low risk mallner. Investment policy and performan¢e AII CIO fimds continue to be managed by Evelyn Partners (fonnerly Smith & Williamson LLP) with a low risk inv¢sttnent strategy. Rlsk Management CuThent CIO fund position is monitored weekly, with ll¢C&&ry actions taken to protect and grow the fvnd.
THE MARJORIE JAYE CHARITABLE FOUNDATION TRUSTEES REPORT (CONThNUED) FOR THE YEAR ENDED 31 MARCH 2024 Structury governance and management Constltutlon The structure. governance and manag¢ment ar¢ controlled through the CIO Constitution. last amended 9th August 2019. The TNst¢es who served during the year and up to the date of signature of the financial ststanents were: S C Jaye, Chair S J&y¢ C C Jensen None of the TnteeS has 8ny bencficial interest in the company. All of the Trustees are members of the company and guarantee to ¢ontribute £1 in the evcnt of a wittding w). Methods of appointment or ele¢tloD of Trustees Th¢ m8magement of the Charity is the responsibiJAty of the Tnlstees who are elected and CO¢¢d under the t¢rnis of th¢ TTUSt deed The Board of Trustees report io the Annual General Meeting. Cutr¢ntIy there are thr¢e trustees, with the Chief Executive m¢¢t at regular intervals to make deci5ion8 Concerning th¢ runti1 of th¢ organisation. The implementstion of those deci¥A0fi5 is delegated to thc Chi¢f Ex¢¢utive attd a professional staff tra for th¢ day-to-day running of tbe organisation. Th¢ Board operates th¢ be8t w¢ of thc available skills, to ensure that Strong 8ovfflwice sIntureS and scnttiny D]aintRiDed. Tbe Trustees may from titi]e to titne appoint new Trustees &8 required by the organi8ation.
THE MARJORIE JAYE CHARtrABLE FOUNDATION TRuBEs REPORT (CONTINUED) FOR THE FEAR ENDED 31 MARCH2024 Statement of Trustees responslbllltles The Trustees are responsible for prepArirtg the Trn5tees Report and the fin8ncial statements in accordan¢¢ with appli¢ablE law and Uuited Kingdom Accountiug Standards (United Kingdom Generally Acc¢pted Accounting Practice). The law applicable to chltieS in England and Wales requires the TtU5tees to pryare fukclaI statements for each financial year which giv¢ a true and fair view of the state of affair8 of th¢ Charity and of the incoming resources and application of r¢sourc¢8 oftbe for that year. In prewing these fmallcial statements, the TnleeS are required to.. - select suitable accounting policies and th¢n apply them consistently. - obsc¢ the methods and principles ID the Clwities SORP: - make judgements and estimates that are reasonable and pnulen( stat¢ whether applicable accollDtittg standards have been followrf subject to any material depar¢ures disclosed and explained in the financial statements. and - prcpare th¢ financial statements Im the going concern basis unless it is inappropria¢¢ to presume that th¢ ¢harity will cootinue in operation. The Tntr¢S are responsibl¢ foi keeping suifici¢nt accounting records that disclose with reasonable accuracy at any tim¢ the finaacial position Df tbe Charity and enable them to ensure that the financial statements comply with the Charities Act 2011. the Cbarity (Accounts and Reports) Regulation5 2008 and th¢ provisions of the trust deed. They are also Te5ponsible for safeguardinB the assets of the Charity and hence for taking reasonable S*ps for the prevention and detection of fraud and other irreguIarities. The Trnst¢es report was approved by the Board of Thstee5. S C Jaye. Chair Trustee LIT4 Li 2ÉyL
THE MARJORIE JAYE CHARITABLE FOUNDATION YDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE LWJORIE JAYE CIL4RITABLE FOUNDATIO l Teport to the Trustees on my examination of the financial statements of The Mariori¢ Jay¢ Charitable Foundation (the Chariry) for the year ended 31 March 2024. Respollsibilitles and basts of report As the Ttwfres of the Ch&Tity you are responsible for the preparation of th¢ fJnancial ststements in accordance with tbe requirements of the Charitie5 Act 2011 (th¢ 2011 Act). I report in respect of my examiÉMtion of the Charity's financial statements carried out under sectioll 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Chlty Commission under s¢¢tion 145(5)(b) of the 2011 Act. Independent examln¢r's statement Your attention is drawn to the fact that the charity has prq)4red financial statements in ordanCe WAth the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommeod¢d Prathice applicable to clwities pr¢parillg their accounts as p¢r the Finattcial Reporting Stdndard applicable in the UK and Kepublic of ItelaDd (FRS 102)" (a5 amended for CoUnting plodS commencing from l January 2019). I have compl¢¢ed my examination. I confirm that no matters have come to my attention in connection with th¢ Qxamination giving me cau8¢ to believe that in any material resp¢. accounting r¢¢ords were not kcpt ill respect of the Charity a5 required by section 130 of the 2011 ACL or thc fitwicial stat¢ments do not aOrd with those records. or the fllmncial statements do not C41mply with the applicable requirements concerning the form and content of accounts set out in the Chariti¢5 (Accounts and Report8) Regulations 2008 other than any requiremen¢ that the accounts give a tsve and fair view which is not a matter considered as part of an independent examination. I have DO concerns and have Come across no other matters in conne¢tion with the examination to which attention should be drawn tn this r¢port ill Order to ¢nable a proper understsnding of the financial statements to be rwlml. Davld How*rd Chartered Accountant5 I Park Road Hampton Wick Kingston Upon Thames KTI 4AS Dat¢d: .........................
THE MARJORIE JAYE CHARrrABLE FOI]NDATIOLY STATEMKiYf OF FINANCIALACTIVITiES INCLUDIYG INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR EM)ED 31 MARCH2024 Unrestrl¢tedUllrestrlcted funds funds 2024 2023 Notes IncDme from. Inv¢slnLents 49.134 48,709 endlture on: Raising fimds 27.483 27,983 Charitable activities 76,950 15516 Total expenditure 104.433 43,499 Net gains/Oosses) on investments io 422.292 (502222) Net movement In funds 366,993 (497.012) Fund balances at l April 2023 4,773,766 5,270.778 Fund bilanw at 31 March 21124 5.140,759 4.773.766 The statrm¢nt of financial activities includes all gains and losses Tecognised in the year. All income and expenditure derive from continuing activities.
THE MARJORIE JAYE CHARTfABLE FOUNDATION BALANCE SHEET ASA T31 h£4RCH2024 2024 2023 Notes ed assets tnvestments 12 5,101,579 4.757.637 Current assets Cash at bonk and in hand 42.360 19.129 Creditors.. amounts falllng due withln one year 13 (3.180) [3,0) N¢t Current &S8¢ts 39,180 16,129 Totsl assets less current llabllltles 5.140.759 4,773.766 Income funds Unre6tri¢ted fimd5. general 5.140,759 4.773,766 5.140.759 4,773,766 The financiat statements were appmved by thc Ttee8 on ... . ZOT S C Jaye, Chair Trustee
THE MARJORIE JAYE CHARITABLE FOUNDATIO NOTES TO THE FINANCIAL sfATEMENTS FOR THE FEAR EJVDED 31 N£4RCH2024 A¢countAng policftes Charlty Inforniatlon The mJOne Jay¢ Charitable Found8tion was registercd as a Clwstable Incorporation orlSaILOn on 19 August 2019 and is gov¢mcd by its constitution formed under an asswiation model. 1.1 A¢¢ountkng conventlon The financial statements h8ve been prepared in accordance with the Chariws Igoverning document], the Ch¥siti¢s Act 201 I, FRS 102 "Th¢ Fit)ancial Reporting Standard applicable in the UK and Republi¢ of Ireland" ("FRS 102") and the Charities SORP "Accounting and Reporting by Charitie5: Statement of Recommend Practice applicablc to clwities preparing their accounts in accordanc¢ with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective l January 2019). The Charity is a Public Benefit Entity as dcfmed by FRS 102. The Charity has taken advantage of the provisions ill the SORP for charities noi to Prepare a Sthtement of Cash Flows. The financial ststemeDts are prepared in sterling? which is th¢ functional currency of the Charity. Monetary amounts in th&8e finaDoial statements are round¢d to thc nearest £. The financial statcm¢Dts bave been prepared under th¢ historical st convention. The principal accounting polici¢s adopted are set out below. 1.2 Golng concern At the titne of approving the flllancial statements. the Ttee8 have a rcasonable expectation that the Charity has ad¢quate resour¢cs to Contin in operational existence for th¢ for¢sceable future. Thus th¢ Tru5tee8 continu¢ to adopt the ¥oing concern basis of aceounling in preparing the financial st8ternents. IJ Charltable tsDd8 Unr¢stricted fiwds available for use at the discretion of the Trnstees in fiwtheranc¢ of their charitable objectiv¢8. Rcstiicted funds are subject to specific Conditions by donor5 as to how they may be us¢J. The purpo8¢S and uses of th¢ restried fullds are set out in the not¢s to the fllmnci Statements. Endowment fimd5 are subject to 5p¢cific conditions by donors that the Capital must be maintained by the Charity. 1.4 Income Income is recoguised when the Clwity is legally entitled kn tt after any perfornwi¢e conditions have been met, the amounts can be measured reliably. and it is probable that income will be received. Income from investments is included in the year in whtch it is receivabl¢. 1.5 Expethditure Expenditure is rccogmised once there is a legal or constructive obligation to transfer ¢conomic benefit to a third paty, it is probable that a trall8fcr of economi¢ benefLts will be required iti settlemenl and th¢ nount of th¢ obligation can be measur¢4 r¢liiibly. Expendillwe is classified by activity. The costs of cach activity are made up of the tothl of direct costs and sbar¢d costs, including support Costs involved in widertaking each activity.
THE MARJORIE JAYE CHARITABLE FOUNDATIO1¥4 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 AcUll1% policies (Condnued) 1.6 Fixed asset Investm¢nts Fixed asset investments &re initially mca5ured at transaction price excluding transaction costs, and are subsequently measured at f4ir value at each reporting date. Changes in fair value ar¢ i¢(olsed in net income/(expenditure) for the year. Transaction costs are exp¢Etb¢d as incurred. InveS1ent gains and losses {re8lised and unreaiised) are combined and presented as GaIns/(Loss) on investtnents in the Statement of FinanLial Activities 1.7 C¥sh aknd cash equfvalents Cash and cash cquivalents include Cash in ]Wid, deposits held at call with baJks, other Short-lerni liquid investments wilh 0ri8inal maturities of three months or less, and bank overdrafts. Bank ovcrdrafts are Shown within borrowiDgs in current liabilities. Fund Accounting General fimds are unrestrA¢t¢d fundb which are available for use at the discretion of the TnteeS in furtherdoce of the general obj¢ctives of the charity aud which bave llot b¢¢n designated for oth¢r purposes. Investment inciTrme gains 8nd105ses are allocated to the appropTiate fund. Cridcal a¢¢ountEDg estlmates and judgements in the application of the Charity's accounting policies. the Th18tees are required to make judgements. estimates and assumlOn8 about the carrying amount of assets and liabilities that are not readily apparent from other sources. Th¢ estimates and associated 4Lssumptions are based on hi8tori¢al ¢xperienc¢ and other factors that are considered to be relevanL AGtual results may differ from th¢s¢ estitnatC5. The estimates and underlyillg assumptions are reviewed on an ongoing basis. Revisions to 8ccountin8 e8timas are recognised in th¢ period in which the e4tirnate is revised where the revision aLTccls only that period. or iti the period of the revision and futtwe periods where th¢ Tevision affects both curr¢at and future period& Investments Unre5trieted Unrestrlcted funds funds general 2023 gener 2024 Income from Ilst¢d investments- Dividends Inierest receivable 33274 15,860 26.556 22,153 49.134 48.709
THE MARJOR JAYE CHARITABLE FOUNDATION NOTKS TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCJJ2024 Ralslng funds Unrestrlcted Unrestrieted funds funds general general 2024 2023 Inves¢ment management fees 27,483 27,983 27.483 27.983 Charltsble acdvities 2024 2023 Graot fimding of activities (se¢ note 6) 58.000 7,000 Share of support costs (see not¢ 7) Share of g0venw¢ costs (see note 7) 15,770 3,180 5,016 76,950 15J16 Grant5 payable 2024 2023 Grants to institutions: Community Foundation 58,000
THE MARJORIE JAYE CHARrrABLE FOUNDATION NOTES TO THE FINANCIAL STATKMENTS (CONTINUED) FOR TIJE FEAR EIVDED 31 MARCH 2024 Support costs Support Governance costs eo$ts 21124 2023 oirice rntes 15,770 15.770 5,016 Accountsncy fee 3,180 3.180 3,500 15.770 3,l80 18,950 8,S16 Analysed between ch1(able activities 15.770 3.180 18,950 8516 None of th¢ Ttr¢s (or any p¢rsons connect¢d with th¢m) received any InUneratiOn or benefits from the Chartty during th¢ year. Employee5 The average monthly twmber of ernployees durAng the yeRr was: 2024 Number 2023 Number Total There were employees whose annuaI rnUneratiOll was more than £60,000. 10 Iyet gafinsl(10sses) on Investments Unrestricted Unrestrieted funds funds general general 2024 2023 Reva]uation of investrnents Gainl(loss) on sale of investmcnts 478.285 (55.993) (462.689) <39,533) 422,292 (502.222) 10-
THE MARJOIUE JAYE CIIARITABLE FOUNDATION NOTL8 TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE FEAR EIVDED 31 MARCH21124 11 Taxation The charity is exempt from tsx on income and gains fallillg within section 505 of the Taxes Acl 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the eXit that these are applied to its chaTiiable obj¢¢ts. 12 Fixed asset Investments Lisled Inveslments Cash In portfollo Totsl Cost or valuatlon At l April 2023 Additions Valuation cban8es Net movement on cash in fiwd Disp05al8 4,651.5 3,401.034 460,084 (30,000) (3.464,740) 106,632 4,757,637 3,401,034 460.084 (30,000) (22.436) (3.487,176) At 31 March 2024 5.017.383 84.196 5.101,579 Carrying amount At 31 March 2024 5,017,383 84,196 5,101.579 At 31 March 2023 4,651,005 106,632 4,757.637 13 Creditors: 4mounts faUill% du¢ wlthln one year 2024 2023 Accruals 3.180 3,000 14 Analysls of net assets b¢tween UDre8trActed Unrestrlcted funds funds 2024 2023 Fund balallces at 31 March 2024 are r¢pr¢sented by: Investments Current assets/(liabilities) 5,101.579 39,180 4.757,637 16,129 5.140.759 4.773.766 11
THE MARJORIE JAYE CHARITABLE FOUNDATIOF4 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR EIVDED 31 MARCH2024 15 Related party tran8acdon% There w¢ no dis¢losabl¢ relat¢d party tran&qctions during the year (2023 - none). 16 Outstanding guarantees wtn by the charity Th were no guarantees given by the eharity during the year. 17 OvtstAndlDg debt There is no outstaftding debt at the end of the year which is sllbject to a charge on the Charitys assets. 12-