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�- 



Docusign�Envelope�ID:�BB4C4BA1-7F1D-48A7-8436-B5F827839C12 

## **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�- 



Docusign�Envelope�ID:�BB4C4BA1-7F1D-48A7-8436-B5F827839C12 

## **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**<br>**Notes**<br>**£**<br>**Fixedassets**<br>Investments<br>**12**<br>**Currentassets**<br>Debtors<br>**13**<br>864<br>Cashatbankandinhand<br>40,238<br>41,102<br>**Creditors:amountsfallingduewithin**<br>**oneyear**<br>**15**<br>(8,100)<br>Netcurrentassets<br>**Totalassetslesscurrentliabilities**<br>**Incomefunds**<br>Unrestrictedfunds<br>TheaccountswereapprovedbytheTrusteeson.........................|**£**<br>516,258<br>33,002<br>549,260<br>549,260<br>549,260|**2024**<br>**£**<br>642<br>22,216<br>22,858<br>(6,000)|**£**<br>632,408<br>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|



- 8�- 



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. 

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## **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|



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## **THE�JAMES�KNOTT�FAMILY�FOUNDATION** 

## **NOTES�TO�THE��FINANCIAL�STATEMENTS�(CONTINUED)** 

## _**FOR�THE�YEAR�ENDED�31�JANUARY�2025**_ 

## **4 Other�income** 

|Bankinterestreceived<br>**5**<br>**Raisingfunds**<br>Investmentmanagementfees<br>**6**<br>**Charitableactivities**<br>Grantfundingofactivities(seenote8)<br>Shareofsupportcosts(seenote7)<br>Shareofgovernancecosts(seenote7)<br>**7**<br>**Supportcosts**<br>Bankcharges<br>Managementandadministrationfees<br>Trusteeexpenses<br>Independentexaminationfees<br>Analysedbetween<br>Charitableactivities|**Unrestricted**<br>Unrestricted<br>**funds**<br>funds<br>**2025**<br>2024<br>**£**<br>£<br>1,687<br>1,519|**Unrestricted**<br>Unrestricted<br>**funds**<br>funds<br>**2025**<br>2024<br>**£**<br>£<br>1,687<br>1,519|**Unrestricted**<br>Unrestricted<br>**funds**<br>funds<br>**2025**<br>2024<br>**£**<br>£<br>1,687<br>1,519|
|---|---|---|---|
|||||
|||||
||**Support**<br>**costs**<br>**Governance**<br>**costs**<br>**£**<br>**£**<br>20<br>-<br>12,000<br>-<br>-<br>142<br>-<br>1,800<br>12,020<br>1,942<br>12,020<br>1,942|**2025**<br>**£**<br>4,277<br>**2025**<br>**£**<br>143,000<br>12,020<br>1,942<br>156,962<br>**2025**<br>**£**<br>20<br>12,000<br>142<br>1,800<br>13,962<br>13,962|2024<br>£<br>4,324|
||||**2024**<br>**£**<br>100,000<br>12,040<br>247|
||||112,287|
||||2024<br>£<br>40<br>12,000<br>247<br>-|
||||12,287|
||||12,287|



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## **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)|



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## **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)|



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## **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<br>Cashheldininvestmentportfolio|**2025**<br>**£**<br>40,238<br>20,433<br>60,671|**2024**<br>**£**<br>22,216<br>2,969|
|---|---|---|
|||25,185|



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## **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<br>CandleforIndia(DeeptiCentre)<br>CoventryFoodBank<br>EmmanuelCollege,Cambridge<br>UniversityofCambridgeMemorialService<br>NzirambiOrphansTalentDevelopmentCentreUK(NOTDECUK)<br>SocietyofFriendsofMvumiHospital<br>SPEAR<br>TheKiteTrust<br>TrussellTrust<br>UniversityofCambridge- Prizes|**2025**<br>**£**<br>8,000<br>14,000<br>12,000<br>22,000<br>-<br>24,250<br>22,000<br>22,000<br>15,000<br>-<br>3,750<br>143,000|**2024**<br>**£**<br>2,000<br>8,000<br>-<br>15,000<br>2,500<br>28,250<br>13,000<br>15,000<br>8,500<br>4,000<br>3,750|
|||100,000|



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