Docusign�Envelope�ID:�BB4C4BA1-7F1D-48A7-8436-B5F827839C12
Charity�Registration�No.�1192202
THE�JAMES�KNOTT�FAMILY�FOUNDATION
ANNUAL�REPORT�AND�UNAUDITED�FINANCIAL�STATEMENTS
FOR�THE�YEAR�ENDED�31�JANUARY�2025
Docusign�Envelope�ID:�BB4C4BA1-7F1D-48A7-8436-B5F827839C12
THE�JAMES�KNOTT�FAMILY�FOUNDATION
CONTENTS
| Page | |
|---|---|
| Trustees'report | 1- 3 |
| StatementofTrustees'responsibilities | 4 |
| Independentexaminer'sreport | 5 |
| Statementoffinancialactivities | 6 |
| Balancesheet | 7 |
| Statementofcashflows | 8 |
| Notestothefinancialstatements | 9- 15 |
Docusign�Envelope�ID:�BB4C4BA1-7F1D-48A7-8436-B5F827839C12
THE�JAMES�KNOTT�FAMILY�FOUNDATION
LEGAL�AND�ADMINISTRATIVE�INFORMATION
| Trustees | ProfessorSBarclay |
|---|---|
| MrsJRSJohnston | |
| ProfessorJBarclay | |
| MissLJCousins | |
| Administrator | RathbonesTrustCompanyLimited |
| Charitynumber | 1192202 |
| Registeredoffice | 30GreshamStreet |
| andaddressforappeals | London |
| EC2V7QN | |
| Independentexaminer | KerryRobertsTEPFMAATMCSI |
| C/oPortofLiverpoolBuilding | |
| PierHead | |
| Liverpool | |
| L31NW | |
| BankersandInvestmentManagers | RathbonesInvestmentManagementLimited |
| 30GreshamStreet | |
| London | |
| EC2V7QN |
Docusign�Envelope�ID:�BB4C4BA1-7F1D-48A7-8436-B5F827839C12
THE�JAMES�KNOTT�FAMILY�FOUNDATION
TRUSTEES'�REPORT��
FOR�THE�YEAR�ENDED�31�JANUARY�2025
The�Trustees�present�their�annual�report�and�financial�statements�for�the�year�ended�31�January�2025.
The�financial�statements�have�been�prepared�in�accordance�with�the�accounting�policies�set�out�in�note�1�to�the� financial�statements�and�comply�with�the�Charity's�constitution,�the�Charities�Act�2011�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�(FRS� 102)" (effective�1�January�2019).
Objectives�and�activities
The�trustees�hold�unrestricted�funds�from�which�they�make�donations�to�such�charitable�bodies�and�institutions�at� such�times�and�in�such�manner�as�the�trustees�may,�in�their�absolute�discretion,�think�fit. Other�than�the�operation�of�the�investment�portfolio�no�other�fund-raising�activity�is�undertaken�to�support�the�work� of�the�charity.��The�charity's�assets�are�essentially�investment�based�and�the�trustees�consider�the funds�held�as� defined�as�capital�and�income.��The�funds�are�held�with�a�view�to�distributing�the�income�generated�from�the� investment�portfolio�and,�as�far�as�may�be�necessary,�the�capital�for�or�towards�the�grants�the�trustees�have�decided� to�make.
Public�benefit
The�trustees�have�complied�with�the�duty�in�section�17�of�the�Charities�Act�2011�to�have�due�regard�to�the�public� benefit�guidance�published�by�the�Charity�Commission. The�trustees�support�a�number�of�charitable�organisations,� as�shown�within�note�21�to�the�financial�statements.�The�trustees�believe�all�the�donations�made�are for�the�public� benefit.
Charitable�activities
The�Trustees�have�long-established�links�with�various�areas�of�Africa�and�have�supported�hospitals and�educational� projects�there�for�a�number�of�years,�through�UK�based�charities.�During�the�year�ended�31�January�2025�,�the� Trustees�continued�to�provide�funding�to�those�previously�funded�charities. The�Trustees�take�an�active�interest�in� projects�supported�and�have�kept�in�regular�contact�with�the�charities�in�order�that�they�may�monitor�the�use�of�the� donations�provided�and�report�on�progress�being�made.�The�donations�made�can�be�summarised�as�follows:
-
Mvumi�Hospital:�A�donation�of�£22,000�was�made�during�the�year. This�was�used�towards�the�cost�of� ambulance�maintenance�and�a�new�computer�for�use�in�x-rays.�
-
NOTDEC�UK:�A�donation�of�£24,250�was�made�during�the�year. This�was�used�to�finance�a�new�gear�box� for�a�car,�repairs�to�family�homes�(window�repairs,�toilets,�and�water�collection�system�)�where�the�centre’s� children�live.�
-
Coventry�Food�Bank:�A�donation�of�£12,000�was�made�during�the�year. This�was�used�towards�the� ongoing�running�costs�of�their�UK�warehouse.
-
Candle�for�India�(Deepti�Centre):�A�donation�of�£14,000�was�made�during�the�year. This�was�used�to�assist� with�vehicle�maintenance�and�running�four�school�bus�services�at�the�centre.�
-
The�Kite�Trust: A�donation�of�£15,000�was�made�during�the�year. This�enabled�the�charity�to�continue�its� one-to-one�support,�its�youth�leadership�programmes�and�its�residential�camps�for�young�people.
-
Spear- Bethnal�Green:�A�donation�of�£22,000�was�made�in�the�year. This�was�to�cover�a�course�to assist� young�people�with�finding�employment.
-
Emmanuel�College:�A�donation�of�£22,000�was�made�during�the�year. This�was�used�to�provide�a�bursary� to�8�students having�regard�for�financial�circumstances,�academic�record�and�general�contribution�to the�life� of�the�college.�
-
University�of�Cambridge�Prizes: A�donation�of�£3,750�was�made�during�the�year.
-
Arthur�Rank�Hospice:�A�donation�of�£8,000�was�made�during�the�year�. This�was�used�to�support�the ongoing�work�of�the�day�centre�at�the�hospice�which�does�not�receive�NHS�funding�and�is�funded�by�public� donations.�
-
1�-
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THE�JAMES�KNOTT�FAMILY�FOUNDATION
TRUSTEES'�REPORT��(CONTINUED)
FOR�THE�YEAR�ENDED�31�JANUARY�2025
Grant�Making�Policies�
The�trustees�meet�annually�to�review�applications�and�review�the�reports�provided�from�the�charities�who�have� previously�benefited�from�the�Foundation. Applications�are�considered�by�the�trustee�board�and�donations�are� awarded�at�the�discretion�of�the�trustees.
Achievements�and�performance
During�the�year,�the�trust�generated�sufficient�income�from�the�investments�held�to�enable�the�trustees�to�fulfil�their� aim�of�making�a�certain�level�of�donations.�The�trustees�made�charitable�donations�during�the�year�of�£143,0000� (£100,000�in�2024).
Investment�Performance
The�investment�objective�for�the�Trust�is�for�a�balance�between�capital�growth�and�income,�in�line with�Risk�Strategy� Level�3,�as�defined�by�Rathbones�Investment�Management�Terms�of�Business.��
At�31�January�2025�the�Trust�was�valued�at�£516,258�and�was�forecast�to�produce�an�estimated�gross annual� income�of�£12,772�or�2.47%.��
During�the�12�months�to�31�January�2025,�the�portfolio�increased�11.1%�in�total�return�terms�as�compared�to�the� MSCI�PIMFA�Income�which�increased�12.5%.
The�portfolio�is�well�diversified�with�a�core�of�blue-chip�companies�with�strong�balance�sheets�that�derive�a�large� proportion�of�their�earnings�from�overseas,�as�well�as�some�investments�in�mid�cap�stocks�which�offer�greater� capital�growth�potential.�
At�the�year-end�there�were�five�collective�holdings�that�were�valued�at�over�5%�of�the�portfolio’s capital:�Evenlode� Income,�iSHARES�Core�FTSE�100,�M&G�North�American�Dividend,�Guinness�Global�Equity�Income�and�JP�Morgan� Global�Growth�and�Income.�The�collective�holdings�are�well�diversified�across�different�geographies�and�sectors� and�have�a�bias�towards�generating�income�together�with�the�opportunity�for�capital�growth,�in�line�with�the�Risk� Strategy�Level�3�of�the�Fund.�
As�at�31�January�2025�accumulated�income�held�was�£39,380.
Policy�on�Reserves
The�trustees�do�not�maintain�a�set�amount�of�income�as�free�reserves.�The�trustees�ensure�that�income�levels�are� regularly�reviewed�to�ensure�they�hold�sufficient�funds�to�meet�with�their�future�objectives. On�31�January�2025,�the�balance�held�on�unrestricted�reserves�was�£549,260.
Investment�policy
As�there�are�no�specific�restrictions�of�investment�powers�under�the�governing�deed,�the�trustees�have�full�discretion� over�the�investments�held.�The�trustees�have�delegated�their�investment�powers�to�Rathbones�Investment� Management�Limited�to�have�full�discretionary�day�to�day�control�of�the�investments.�The�trustees�have�in�place�a� policy�statement�that�has�been�agreed�with�Rathbones�Investment�Management�Ltd.�Assets�have�been�acquired� and�disposed�of�in�accordance�with�the�powers�available�to�the�trustees.
Financial�review
Total�incoming�resources�were�£18,005�(£18,250�in�2024),�with�£156,962�(£112,287�in�2024)�being�committed�to� charitable�activities and�a�further�charge�of�£4,277�(£4,324�in�2024)�related�to�costs�of�raising�funds.�The�total� movement�of�resources�in�the�year�also�include�the�realised�(loss)�in�the�year�£2,606�(loss £12,243�in�2024)�and�an� unrealised�gain�based�upon�the�market�value�of�the�investments�at�the�year�end�of�£45,835�(gain £8,266�in�2024),� resulting�in�net�outflow�of�resources�of�£100,005�(outflow�of�resources £102,338 in�2024).
- 2�-
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THE�JAMES�KNOTT�FAMILY�FOUNDATION
TRUSTEES'�REPORT��(CONTINUED) FOR�THE�YEAR�ENDED�31�JANUARY�2025
Risks
The�trustees�are�responsible�for�the�management�of�the�risks�faced�by�the�charity.�Risks�are�identified,�assessed� and�controls�established�throughout�the�year. A�formal�review�of�the�charity's�risk�management�process�is� undertaken�on�an�annual�basis�and�the�key�risks�identified�are�as�follows:
*�Investments
These�risks�are�mitigated�by�engaging�an�independent�investment�manager�who�is�regulated�and�in�high�standing�in� the�marketplace.
*�Cash
These�risks�are�mitigated�by�having�income�mandated�direct�to�the�trust's�bank�accounts�and�payments�are�only� made�to�UK�registered�charities.
Through�the�risks�management�processes�established,�the�trustees�are�satisfied�that�the�major�risks�identified�have� been�adequately�managed�where�necessary.�It�is�recognised�that�systems�can�only�provide�reasonable�but�not� absolute�assurance�that�major�risks�have�been�adequately�managed.�The�major�risks�to�which�the�charity�is� exposed�as�identified�by�the�trustees�have�been�reviewed�and�systems�have�been�established�to�manage those� risks.
Plans�for�future�periods
The�trustees�intend�to�(as�discussed�at�their�last�meeting)�wind�down�the�Foundation�over�the�next two�to�three� years. The�annual�donations�are�usually�in�the�region�of�£100,000�based�on�current�valuations,�the�Trustees�could� expect�a�further�six�years�of�life�in�the�trust. By�increasing�the�donations�to�£150,000�for�the�next�two�years�with�a� larger�donation�in�the�final�year,�it�is�expected�that�the�Foundation�will�be�wound�up�in�2027.�
Structure,�governance�and�management
The�James�Knott�Family�Foundation�is�a�Charitable�Incorporated�Organisation�created�by�a�Constitution�Document� dated�31�August�2020.��The�trustees�are�to�hold�the�capital�and�income�of�the�Foundation�to�apply�the�income,�and� as�far�as�may�be�necessary,�the�capital�for�and�towards�such�charitable�objects�and�purposes�and�to�make� donations�to�such�charitable�bodies�or�institutions�in�the�United�Kingdom�or�any�other�part�of�the�world�at�such�times� and�in�such�manner�as�the�trustees�may�in�their�absolute�discretion�think�fit.
The�Trustees�who�served�during�the�period were:
Professor�S�Barclay Mrs�J�R�S�Johnston Professor�J�Barclay Dr�A�Barclay (Retired�24�June�2025) Miss�L�J�Cousins
Appointment�of�new�trustees
Apart�from�the�first�Trustees�(listed�above)�every�Trustee�must�be�appointed�for�a�term�of�three�years�by�resolution� passed�at�a�properly�convened�meeting�of�the�Trustees.
Decision�making
The�Trustees�meet�annually�to�review�applications�for�funding,�investment�performance,�income�levels�and�the� financial statements.�
The�Trustees'�report�was�approved�by�the�Board�of Trustees.
.............................. Miss�L�J�Cousins
Trustee
21�August�2025�|�10:05�AM�BST Date:�.............................................
- 3�-
Docusign�Envelope�ID:�BB4C4BA1-7F1D-48A7-8436-B5F827839C12
THE�JAMES�KNOTT�FAMILY�FOUNDATION
STATEMENT�OF�TRUSTEES'�RESPONSIBILITIES��
FOR�THE�YEAR�ENDED�31�JANUARY�2025
The�Trustees�are�responsible�for�preparing�the�Trustees'�Report�and�the�financial�statements�in�accordance�with� applicable�law�and�United�Kingdom�Accounting�Standards�(United�Kingdom�Generally�Accepted�Accounting Practice).
The�law�applicable�to�charities�in�England�and�Wales�requires�the�Trustees�to�prepare�financial�statements�for�each� financial�year�which�give�a�true�and�fair�view�of�the�state�of�affairs�of�the�Charity�and�of�the�incoming�resources�and� application�of�resources�of�the�Charity�for�that�year.
In�preparing�these�financial�statements,�the�Trustees�are�required�to:
-
select�suitable�accounting�policies�and�then�apply�them�consistently;
-
observe�the�methods�and�principles�in�the�Charities�SORP;
-
make�judgements�and�estimates�that�are�reasonable�and�prudent;�
-
state�whether�applicable�accounting�standards�have�been�followed,�subject�to�any�material�departures�disclosed� and�explained�in�the�financial�statements;�and
-
prepare�the�financial�statements�on�the�going�concern�basis�unless�it�is�inappropriate�to�presume�that�the�charity� will�continue�in�operation.
The�Trustees�are�responsible�for�keeping�sufficient�accounting�records�that�disclose�with�reasonable�accuracy�at� any�time�the�financial�position�of�the�Charity�and�enable�them�to�ensure�that�the�financial�statements comply�with� the�Charities�Act�2011,�the�Charity�(Accounts�and�Reports)�Regulations�2008�and�the�provisions�of�the�constitution.� They�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.
- 4�-
Docusign�Envelope�ID:�BB4C4BA1-7F1D-48A7-8436-B5F827839C12
THE�JAMES�KNOTT�FAMILY�FOUNDATION
INDEPENDENT�EXAMINER'S�REPORT�
TO�THE�TRUSTEES�OF�THE�JAMES�KNOTT�FAMILY�FOUNDATION
I�report�to�the�Trustees�on�my�examination�of�the�financial�statements�of�The�James�Knott�Family�Foundation�(the� Charity)�(charity�registration�number�1192202)�for�the�year�ended�31�January�2025 which�are�set�out�on�pages�6�to 15.
This�report�is�made�solely�to�the�charity’s�trustees,�as�a�body,�in�accordance�with�section�145�of the�Charities�Act� 2011.��My�examination�has�been�undertaken�so�that�I�might�state�to�the�charity’s�trustees�those�matters�I�am� required�to�state�to�them�in�an�Independent�Examiner's�report�and�for�no�other�purpose.��To�the�fullest�extent� permitted�by�law,�I�do�not�accept�or�assume�responsibility�to�anyone�other�than�the�charity�and�the�charity’s�trustees� as�a�body,�for�my�work,�for�this�report,�or�for�the�opinions�I�have�formed.
Responsibilities�and�basis�of�report
As�the�charity's�trustees�you�are�responsible�for�the�preparation�of�the�financial�statements�in�accordance�with�the� requirements�of�the�Charities�Act�2011�(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. In�carrying�out�my�examination�I�have�followed�all�the�applicable�Directions�given�by�the�Charity�Commission� under�section�145(5)(b)�of�the�2011�Act.
Independent�examiner's�statement
I�am�a�member�of�an�approved�accounting�body�and�give�due�consideration�to�the�provisions�of�the�Revised�Ethical� Standard�2019�issued�by�the�Financial�Reporting�Council�(FRC)�at�all�times.��Rathbones�Trust�Company has� provided�accountancy�services�in�accordance�with�the�terms�of�engagement�agreed�by�the�trustees.��I�do�not�report� to�the�bookkeeper�or�accounts�preparer�in�any�respect.
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:
-
1 accounting�records�were�not�kept�in�respect�of�the�Charity�as�required�by�section�130�of�the�Charities�Act�2011. 2 the�financial�statements�do�not�accord�with�those�records;�or
-
3 the financial�statements�do�not�comply�with�the�applicable�requirements�concerning�the�form�and�content�of� accounts�set�out�in�the�Charities�(Accounts�and�Reports)�Regulations�2008�other�than�any�requirement that�the� accounts�give�a�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.
.........................................................
Kerry�Roberts�TEP�FMAAT�MCSI
C/o�Port�of�Liverpool�Building Pier�Head Liverpool L3�1NW
04�September�2025�|�11:45�AM�BST Dated:�.........................
- 5�-
Docusign�Envelope�ID:�BB4C4BA1-7F1D-48A7-8436-B5F827839C12
THE�JAMES�KNOTT�FAMILY�FOUNDATION
STATEMENT�OF�FINANCIAL�ACTIVITIES� INCLUDING�INCOME�AND�EXPENDITURE�ACCOUNT
FOR�THE�YEAR�ENDED�31�JANUARY�2025
| Unrestricted Unrestricted | Unrestricted Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2025 | 2024 | ||
| Notes | £ | £ | |
| Income | |||
| Investment income | 3 | 16,318 | 16,731 |
| Otherincome | 4 | 1,687 | 1,519 |
| Totalincome | 18,005 | 18,250 | |
| Expenditure | |||
| Raisingfunds | 5 | 4,277 | 4,324 |
| Charitableactivities | 6 | 156,962 | 112,287 |
| Totalresourcesexpended | 161,239 | 116,611 | |
| Net(expenditure)beforeinvestmentgains/(losses) | (143,234) | (98,361) | |
| Netgains/(losses)oninvestments | 11 | 43,229 | (3,977) |
| Netmovementinfunds | (100,005) | (102,338) | |
| Fundbalancesat1February2024 | 649,265 | 751,603 | |
| Fundbalancesat31January2025 | 549,260 | 649,265 |
The�statement�of�financial�activities�includes�all�gains�and�losses�recognised�in�the�year.�All�income�and�expenditure� derive�from�continuing�activities.
- 6�-
Docusign�Envelope�ID:�BB4C4BA1-7F1D-48A7-8436-B5F827839C12
THE�JAMES�KNOTT�FAMILY�FOUNDATION
BALANCE�SHEET�
AS�AT�31�JANUARY�2025
| 2025 Notes £ Fixedassets Investments 12 Currentassets Debtors 13 864 Cashatbankandinhand 40,238 41,102 Creditors:amountsfallingduewithin oneyear 15 (8,100) Netcurrentassets Totalassetslesscurrentliabilities Incomefunds Unrestrictedfunds TheaccountswereapprovedbytheTrusteeson......................... |
£ 516,258 33,002 549,260 549,260 549,260 |
2024 £ 642 22,216 22,858 (6,000) |
£ 632,408 16,858 |
|---|---|---|---|
| 649,266 | |||
| 649,265 | |||
| 649,266 | |||
Miss�L�J�Cousins Trustee
- 7�-
Docusign�Envelope�ID:�BB4C4BA1-7F1D-48A7-8436-B5F827839C12
THE�JAMES�KNOTT�FAMILY�FOUNDATION
STATEMENT�OF�CASH�FLOWS�
FOR�THE�YEAR�ENDED�31�JANUARY�2025
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| Cashflowsfromoperatingactivities | |||||
| Cashabsorbedbyoperations | 16 | (157,452) | (115,092) | ||
| Investingactivities | |||||
| Purchaseofinvestments | (124,356) | (303,473) | |||
| Proceedsondisposalofinvestments | 301,198 | 368,715 | |||
| Investmentincomereceived | 16,096 | 16,382 | |||
| Netcashgeneratedfrominvesting | |||||
| activities | 192,938 | 81,624 | |||
| Netcashusedinfinancingactivities | - | - | |||
| Netincrease/(decrease)incashandcash | |||||
| equivalents | 35,486 | (33,468) | |||
| Cashandcashequivalentsatbeginningofyear | 25,185 | 58,653 | |||
| Cashandcashequivalentsatendofyear | 60,671 | 25,185 |
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Docusign�Envelope�ID:�BB4C4BA1-7F1D-48A7-8436-B5F827839C12
THE�JAMES�KNOTT�FAMILY�FOUNDATION
NOTES�TO�THE��FINANCIAL�STATEMENTS�
FOR�THE�YEAR�ENDED�31�JANUARY�2025
1 Accounting�policies
Charity�information
The�James�Knott�Family�Foundation�is�a�Charitable�Incorporated�Organisation�established�by�a�Constitution� Document�dated�31�August�2020�and�registered�with�the�Charity�Commission.
1.1 Accounting�convention
The�financial�statements�have�been�prepared�in�accordance�with�the�charity's�constitution,��‘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�(FRS�102)� (Second�Edition)’�and�the�Financial�Reporting�Standard�applicable�in�the�United�Kingdom�and�Republic of� Ireland�(FRS�102)�and�the�Charities�Act�2011�and�UK�Generally�Accepted�Practice�as�it�applies�from�1 January�2019.
1.2 Going�concern
The�trustees�consider�there�are�no�material�uncertainties�about�the�charity's ability�to�continue�as�a�going� concern.�The�review�of�our�financial�position,�reserves�levels�and�future�plans�gives�Trustees�confidence�the� charity remains�a�going�concern�for�the�foreseeable�future.
1.3 Charitable�funds
Unrestricted�income�funds�comprise�those�funds�which�the�trustees�are�free�to�use�for�any�purpose�in� furtherance�of�the�charitable�objectives,�unless�the�funds�have�been�designated�for�other�puposes.�
1.4 Incoming�resources
Investment�income and�donations�received�are recognised�when�the�charity�is�legally�entitled�to�it�after�any� performance�conditions�have�been�met,�the�amounts�can�be�measured�reasonably,�and�it�is�probable�that�the� income�will�be�received.�
1.5 Resources�expended
Grants�are�included�in�the�financial�statements�when�approved�by�the�Trustees�and�notified�to�recipients.�The� value�of�committed�grants�unpaid�at�the�year�end�is�accrued.�Grants�offered�that�are�subject�to�conditions�that� have�not�been�met�at�the�year�end�are�noted�as�a�commitment�but�not�accrued�as�expenditure.
Management�and�administration�costs�comprise�those�costs�incurred�in�running�the�charity.�They�have�been� apportioned�on�the�basis�of�time�spent�between�charitable�activities,�cost�of�raising�funds�and�governance� costs.
Governance�costs�consist�of�those�costs�associated�with�the�overall�running�of�the charity and�meeting� statutory�and�regulatory�requirements.
1.6 Fixed�asset�investments
Fixed�assets�investments�represent�listed�investments�which�are�stated�at�market�valuation,�where�market� value�represents�the�mid�market�value�on�the�last�trading�day�before�the�year�end.�Any�unrealised�or realised� gains�arising�from�investments�are�accounted�for�in�the�Statement�of�Financial�Activities.
1.7 Cash�and�cash�equivalents
Cash�at�bank�and�cash�in�hand�includes�cash�and�short�term�highly�liquid�investments�with�a�short�maturity�of� three�months�or�less�from�the�date�of�acquisition�or�opening�of�the�deposit�or�similar�account.
1.8 Financial�instruments
Basic�financial�assets,�which�include�trade�and�other�receivables�and�cash�and�bank�balances,�are�initially� measured�at�transaction�price�including�transaction�costs�and�are�subsequently�carried�at�amortised�cost� using�the�effective�interest�method�unless�the�arrangement�constitutes�a�financing�transaction,�where�the� transaction�is�measured�at�the�present�value�of�the�future�receipts�discounted�at�a�market�rate�of�interest.
- 9�-
Docusign�Envelope�ID:�BB4C4BA1-7F1D-48A7-8436-B5F827839C12
THE�JAMES�KNOTT�FAMILY�FOUNDATION
NOTES�TO�THE��FINANCIAL�STATEMENTS�(CONTINUED)
FOR�THE�YEAR�ENDED�31�JANUARY�2025
1 Accounting�policies
(Continued)
Other�financial�assets,�including�investments�in�equity�instruments�which�are�not�subsidiaries,�associates�or� joint�ventures,�are�initially�measured�at�fair�value,�which�is�normally�the�transaction�price.�Such�assets�are� subsequently�carried�at�fair�value�and�the�changes�in�fair�value�are�recognised�in�net�income/(expenditure),� except�that�investments�in�equity�instruments�that�are�not�publicly�traded�and�whose�fair�values�cannot�be� measured�reliably�are�measured�at�cost�less�impairment.
The�charity�does�not�invest�in�options,�derivatives�or�other�complex�financial�instruments.
1.9 Debtors
Debtors�are�receivable�at�their expected�settlement�amount.
1.10 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�discounts�due.
2 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�associated�assumptions�are�based�on�historical�experience�and�other� factors�that�are�considered�to�be�relevant.�Actual�results�may�differ�from�these�estimates.
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.
3 Investment income
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2025 | 2024 | |
| £ | £ | |
| UKdividendincome | 7,630 | 8,945 |
| Foreigninterestincome | 892 | 687 |
| Unittrustandfixedinterestincome | 5,827 | 4,411 |
| REITdividendincome | 322 | 396 |
| Foreigndividendincome | 1,886 | 2,495 |
| Accruedinterest | (239) | (203) |
| 16,318 | 16,731 |
- 10�-
Docusign�Envelope�ID:�BB4C4BA1-7F1D-48A7-8436-B5F827839C12
THE�JAMES�KNOTT�FAMILY�FOUNDATION
NOTES�TO�THE��FINANCIAL�STATEMENTS�(CONTINUED)
FOR�THE�YEAR�ENDED�31�JANUARY�2025
4 Other�income
| Bankinterestreceived 5 Raisingfunds Investmentmanagementfees 6 Charitableactivities Grantfundingofactivities(seenote8) Shareofsupportcosts(seenote7) Shareofgovernancecosts(seenote7) 7 Supportcosts Bankcharges Managementandadministrationfees Trusteeexpenses Independentexaminationfees Analysedbetween Charitableactivities |
Unrestricted Unrestricted funds funds 2025 2024 £ £ 1,687 1,519 |
Unrestricted Unrestricted funds funds 2025 2024 £ £ 1,687 1,519 |
Unrestricted Unrestricted funds funds 2025 2024 £ £ 1,687 1,519 |
|---|---|---|---|
| Support costs Governance costs £ £ 20 - 12,000 - - 142 - 1,800 12,020 1,942 12,020 1,942 |
2025 £ 4,277 2025 £ 143,000 12,020 1,942 156,962 2025 £ 20 12,000 142 1,800 13,962 13,962 |
2024 £ 4,324 |
|
| 2024 £ 100,000 12,040 247 |
|||
| 112,287 | |||
| 2024 £ 40 12,000 247 - |
|||
| 12,287 | |||
| 12,287 |
- 11�-
Docusign�Envelope�ID:�BB4C4BA1-7F1D-48A7-8436-B5F827839C12
THE�JAMES�KNOTT�FAMILY�FOUNDATION
NOTES�TO�THE��FINANCIAL�STATEMENTS�(CONTINUED)
FOR�THE�YEAR�ENDED�31�JANUARY�2025
8 Grants�payable
| Grantspayable | ||
|---|---|---|
| Unrestricted | Unrestricted | |
| funds | funds | |
| 2025 | 2024 | |
| £ | £ | |
| Grantstoinstitutions: | ||
| Education | 47,750 | 44,750 |
| Overseashospitalsandmedicine | 36,000 | 21,000 |
| Children | 39,250 | 28,250 |
| Hospices | 8,000 | 2,000 |
| Foodbanksandcommunity | 12,000 | 4,000 |
| 143,000 | 100,000 |
9 Trustees
None�of�the�trustees�(or�any�persons�connected�with�them)�received�any�remuneration�or�benefits.
The�following�Trustees�received�reimbursement�for�travel�expenses�incurred�as�Trustees�as�follows:
Dr�Stephen�Barclay�£43.20�(2024:�£56.90) Dr�Andrew�Barclay�£Nil�(2025:�£53.84) Professor�John�Barclay�£99.15�(2024:�136.15)
10 Employees
There�were�no�employees�during�the�period.
11 Net�gains�/�(losses)�on�investments
| Netgains/(losses)oninvestments | ||
|---|---|---|
| Unrestricted | Unrestricted | |
| funds | funds | |
| 2025 | 2024 | |
| £ | £ | |
| Gainsonrevaluationofinvestments | 45,835 | 8,266 |
| (Loss)onsaleofinvestments | (2,606) | (12,243) |
| 43,229 | (3,977) |
- 12�-
Docusign�Envelope�ID:�BB4C4BA1-7F1D-48A7-8436-B5F827839C12
THE�JAMES�KNOTT�FAMILY�FOUNDATION
NOTES�TO�THE��FINANCIAL�STATEMENTS�(CONTINUED)
FOR�THE�YEAR�ENDED�31�JANUARY�2025
12 Fixed�asset�investments
| Listed | Cashin | Total | |||
|---|---|---|---|---|---|
| investments | portfolio | ||||
| £ | £ | ||||
| Valuation | |||||
| At1February2024 | 629,438 | 2,969 | 632,407 | ||
| Additions | 143,706 | - | 143,706 | ||
| Unrealisedgain | 45,835 | - | 45,835 | ||
| Realised(loss) | (2,606) | - | (2,606) | ||
| Cashheldininvestmentportfolio | - | 17,464 | 17,464 | ||
| Disposals | (320,548) | - | (320,548) | ||
| At31January2025 | 495,825 | 20,433 | 516,258 | ||
| 13 | Debtors | ||||
| 2025 | 2024 | ||||
| Amountsfallingduewithinoneyear: | £ | £ | |||
| Prepaymentsandaccruedincome | 864 | 642 |
14 Taxation
The�charity�is�exempt�from�taxation on�its�activities�because all�its�income�is�applied�for�charitable�purposes.�
15 Creditors:�amounts�falling�due�within�one�year
| 15 | Creditors:amountsfallingduewithinoneyear | ||
|---|---|---|---|
| 2025 | 2024 | ||
| £ | £ | ||
| Accrualsanddeferredincome | 8,100 | 6,000 | |
| 16 | Cashgeneratedfromoperations | 2025 | 2024 |
| £ | £ | ||
| Deficitfortheyear | (100,005) | (102,338) | |
| Adjustmentsfor: | |||
| Investmentincomerecognisedinstatementoffinancialactivities | (16,318) | (16,731) | |
| Lossondisposalofinvestments | 2,606 | 12,243 | |
| Unrealisedgainoninvestments | (45,835) | (8,266) | |
| Movementsinworkingcapital: | |||
| Increaseincreditors | 2,100 | - | |
| Cashabsorbedbyoperations | (157,452) | (115,092) |
- 13�-
Docusign�Envelope�ID:�BB4C4BA1-7F1D-48A7-8436-B5F827839C12
THE�JAMES�KNOTT�FAMILY�FOUNDATION
NOTES�TO�THE��FINANCIAL�STATEMENTS�(CONTINUED) FOR�THE�YEAR�ENDED�31�JANUARY�2025
17 Analysis�of�changes�in�net�funds
The�Charity�had�no�material�debt�during�the�year.
18 Unrestricted�funds
The�unrestricted�funds�of�the�charity�comprise�the�unexpended�balances�of�donations�and�grants which�are� not�subject�to�specific�conditions�by�donors and�grantors as�to�how�they�may�be�used.�These include� designated�funds�which�have�been�set�aside�out�of�unrestricted�funds�by�the�trustees�for�specific�purposes.
| At1February | Incoming | Resources | Gainsand | At31January | At31January | |
|---|---|---|---|---|---|---|
| 2024 | resources | expended | losses | 2025 | ||
| £ | £ | £ | £ | £ | ||
| Generalfunds | 649,265 | 18,005 | (161,239) | 43,229 | 549,260 | |
| Previousyear: | At1February | Incoming | Resources | Gainsand | At31January | |
| 2023 | resources | expended | losses | 2024 | ||
| £ | £ | £ | £ | £ | ||
| Generalfunds | 751,603 | 18,250 | (116,611) | (3,977) | 649,265 |
19 Related�party�transactions
Miss�L�J�Cousins�(a�Trustee)�was�a�director�of�Rathbones�Trust�Company�Limited�up�to�31�December�2024.�� Rathbones�Trust�Company�Limited�charged�management�and�administration�fees�to�the�charity�as�detailed�in� note�7.�amounting�to�£12,000�(2024:�£12,000).
Rathbones�Investment�Management�Limited,�a�company�under�the�same�ownership�as�Rathbones�Trust� Company�Limited�charged�the�charity�£4,277�(2024:�£4,324)�for�investment�management�services.�
The�Trustees�report�that�Mrs�JRS�Johnston�acts�a�Trustee�of�the�Nzirambi�Orphans�Talent�Development� Centre�(NOTDEC�UK),�to�which�the�James�Knott�Family�Foundation�made�a�donation�payment�of�£24,250�in the�current�period�(2024:�£28,250)
The�Trustees�report�that�Dr�A�Barclay�acts�as�a�Trustee�of�The�Society�of�Friends�of�Mvumi�Hospital�to�which� the�James�Knott�Family�Foundation�made�a�donation�of�£22,000�in�the�current�period�(2024:�£13,000).�
There�were�no�other�disclosable�related�party�transactions�during�the�year�other�than�those�detailed�in�note�9.
20 Cash�and�cash�equivalents
| Cashatbankandinhand Cashheldininvestmentportfolio |
2025 £ 40,238 20,433 60,671 |
2024 £ 22,216 2,969 |
|---|---|---|
| 25,185 |
- 14�-
Docusign�Envelope�ID:�BB4C4BA1-7F1D-48A7-8436-B5F827839C12
THE�JAMES�KNOTT�FAMILY�FOUNDATION
NOTES�TO�THE��FINANCIAL�STATEMENTS�(CONTINUED)
FOR�THE�YEAR�ENDED�31�JANUARY�2025
21 Donations�made�during�the�year
| Donationsmadeduringtheyear | ||
|---|---|---|
| ArthurRankHospice CandleforIndia(DeeptiCentre) CoventryFoodBank EmmanuelCollege,Cambridge UniversityofCambridgeMemorialService NzirambiOrphansTalentDevelopmentCentreUK(NOTDECUK) SocietyofFriendsofMvumiHospital SPEAR TheKiteTrust TrussellTrust UniversityofCambridge- Prizes |
2025 £ 8,000 14,000 12,000 22,000 - 24,250 22,000 22,000 15,000 - 3,750 143,000 |
2024 £ 2,000 8,000 - 15,000 2,500 28,250 13,000 15,000 8,500 4,000 3,750 |
| 100,000 |
- 15�-