The Owen Jenkins Trust Charity registration no. 1193318 Trustees' report and unaudited accounts For the year ended 31 March 2023 ## The Owen Jenkins Trust ## Legal and administrative information |Trustees|Helen Grace Jenkins| |---|---| ||Prebendary Richard David Jenkins| ||Charlotte Jenkins| ||Richard Jenkins| |Charity number|1193318| |Principal address|Lauriston| ||5 Ashton Road| ||Shrewsbury| ||SY3 7AN| |Accountants|Evelyn Partners LLP| ||Accountants| ||Old Library Chambers| ||21 Chipper Lane| ||Salisbury| ||Wiltshire| ||SP1 1BG| |Independent examiner|Simon Ellingham FCA| ||Fawcetts LLP| ||Windover House| ||St Ann Street| ||Salisbury| ||Wiltshire| ||SP1 2DR| |Investment managers|Evelyn Partners Investment Management LLP| ||45 Gresham Street| ||London| ||EC2V 7BG| ## The Owen Jenkins Trust ## Contents ||Page| |---|---| |Trustees' report|1 - 3| |Independent examiner's report|4| |Statement offnancial activities|5| |Balance sheet|6| |Notes to the accounts|7 - 10| ## The Owen Jenkins Trust ## Trustees' report for the year ended 31 March 2023 The trustees present their report and accounts for the year ended 31 March 2023. The accounts have been prepared in accordance with the accounting policies set out on in note 1 to the accounts and comply with 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) (e ff ective 1 January 2019). ## Activities, speci fi c objects and relevant policies ## _Objects and activities_ The charitable objects are to pay or apply the capital and income held by the trust to or towards or for the bene fi t or furtherance of such charitable purposes or charitable organisations (whether corporate or unincorporated) at such time, in such manner and in such proportions as the Trustees may from time to time determine. The trustees must use the income and may use the capital of the Charity in promoting the objects. The trustees con fi rm that they have referred to the guidance contained in the Charity Commission's general guidance on public bene fi t and, when reviewing the charity's aims and objects, managing the trust's assets and considering any applications for fi nancial assistance. ## _Investment policy_ The trustees regularly review the performance of all the charity's assets and the investment criteria are regularly discussed by the trustees, with assistance from the investment advisors. ## Achievements and performance ## _Grants_ During the year ended 31 March 2023, the trustees made grants totalling £5,000 (2022: £9,977) which are detailed in note 4 to the accounts. ## Related parties During the year, non-cash donations of £nil (2022: £563,924) and cash donations of £nil (2022: £10,149) were received from the Owen Family Trust. ## _Financial review_ ## Results for the year The fi nancial activities are summarised on page 5 of the accounts. During the year, the charity received net income, before net losses on investments, of £21,766 (2022: £579,656). - 1 - ## The Owen Jenkins Trust ## Trustees' report for the year ended 31 March 2023 ## Reserves policy The trustees have reviewed the reserves of the trust and the forecast level of free reserves (those that are not restricted or designated) that will provide the trust with fi nancial fl exibility and provide a cushion against shortfalls in income, either planned or unanticipated. The level of free reserves at 31 March 2023 was £609,359 (2022: £631,071). The trustees consider this level of free reserves satisfactory to meet annual donations to charities. ## Governance, structure and management ## Governance The charity was established by a trust deed dated 25 November 2019 and registered with the Charity Commission on 29 January 2021, Charity Registration Number 1193318. The trustees who served during the year were: Helen Grace Jenkins Prebendary Richard David Jenkins Charlotte Jenkins Richard Jenkins There must be at least two trustees and future trustees must be appointed by a resolution of the trustees. All decisions a ff ecting the management of the trust and its assets are taken by the trustees jointly. ## Structure and management reporting The trustees are ultimately responsible for the policies, activities and assets of the charity. They are in regular and frequent contact to review the developments with regard to the charity, its activities and to make any important decisions. The trustees review the proposals for grants to be made and approve such grants as appropriate. When necessary, the trustees seek advice and support from the charity's professional advisors including investment managers and accountants. ## Risk factors The trustees have examined the major risks to which the trust is exposed and con fi rm that systems have been established to enable steps to be taken to lessen these risks. - 2 - ## The Owen Jenkins Trust ## Trustees' report for the year ended 31 March 2023 ## Trustees' responsibilities The trustees are responsible for preparing the trustees' report and the accounts in accordance with applicable laws and regulations. The law applicable to charities in England and Wales requires the trustees to prepare accounts for each fi nancial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable regulations). Under that law the trustees must not approve the accounts unless they are satis fi ed that they give a true and fair view of the state of a ff airs of the charity and of the income and expenditure of the charity for that year. In preparing these accounts, 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 United Kingdom Accounting Standards have been followed, subject to any departures disclosed and explained in the accounts; and - prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping proper accounting records which are su ffi cient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the fi nancial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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. On behalf of the board of trustees ## Richard Jenkins Richard Jenkins (Nov 2, 2023 14:24 GMT).................................................... Richard Jenkins Trustee Date: 02/11/2023 - 3 - ## The Owen Jenkins Trust ## Independent examiner's report to the trustees of The Owen Jenkins Trust I report to the trustees on my examination of the accounts of The Owen Jenkins Trust for the year ended 31 March 2023 which comprise the statement of fi nancial activities, the balance sheet and the notes to the accounts, including a summary of signi fi cant accounting policies. ## Respective responsibilites of trustees and examiner and basis of report As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("the Act"). I report in respect of my examination of the charity's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## Independent examiner's statement I have completed my examination. I con fi rm 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 trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts 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 accounts to be reached. ## Simon JL Ellingham Simon JL Ellingham (Nov 2, 2023 15:48 GMT) ..................................... ## Simon Ellingham FCA Fawcetts LLP Chartered Accountants Windover House St Ann Street Salisbury Wiltshire SP1 2DR Date: 02/11/2023 - 4 - ## The Owen Jenkins Trust ## Statement of fi nancial activities for the year ended 31 March 2023 |Notes
Income:
Investment income
Donations received
2
Total income
Expenditure:
Raising funds
Grants payable
4
Charitable activities - support costs
5
Total expenditure
3
Net income before gains and losses on
investments
(Losses)/gains on investments
Net movement in funds
Total reconciliation of funds:
Total funds brought forward
Total funds carried forward|2023
2022
£
£
34,210
22,217
303
574,073
34,513
596,290
4,135
3,292
5,000
9,977
3,612
3,365
12,747
16,634
21,766
579,656
(43,478)
51,415
(21,712)
631,071
631,071
-
609,359
631,071| |---|---| All income and expenditure derives from continuing activities. The notes on pages 7 to 10 form part of the accounts. - 5 - ## The Owen Jenkins Trust ## Balance sheet as at 31 March 2023 |Notes
Fixed assets
Investments
8
Current assets
Debtors
9
Cash at bank and in hand
Creditors: amounts falling due within one
year
10
Net current assets
Net assets
Income funds
Unrestricted funds|£
12,794
63,712
76,506
(4,533)|2023
£
537,386
71,973
609,359
609,359
609,359|£
-
34,777
34,777
(6,848)|2022
£
603,142
27,929| |---|---|---|---|---| |||||631,071| |||||631,071| |||||631,071| The accounts were approved by the board, authorised for issue and signed on their behalf by: ## Richard Jenkins Richard Jenkins (Nov 2, 2023 14:24 GMT)..................................................................................... Richard Jenkins Trustee Date: 02/11/2023 The notes on pages 7 to 10 form part of the accounts. - 6 - ## The Owen Jenkins Trust ## Notes to the accounts for the year ended 31 March 2023 ## 1 Accounting policies ## 1.1 General information The Owen Jenkins Trust was established by a trust deed dated 25 November 2019. It is registered with the Charity Commission in England & Wales (No. 1193318). The address of the principal o ffi ce is Lauriston, 5 Ashton Road, Shrewsbury, SY3 7AN. ## 1.2 Basis of preparation The accounts have been prepared under the historical cost convention. The accounts have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland ("FRS 102") and with the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with FRS 102 (e ff ective 1 January 2019). The accounts are also prepared in accordance with the Charities Act 2011. The charity is a public bene fi t entity as de fi ned by FRS 102. The charity only has fi nancial assets and fi nancial liabilities of a kind that qualify as basic fi nancial instruments. Basic fi nancial instruments are recognised at transaction value. The accounts are prepared on a going concern basis; there are no material uncertainties about the charity's ability to continue as a going concern. ## 1.3 Functional currency The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these accounts are rounded to the nearest £1. ## 1.4 Income All incoming resources are included in the statement of fi nancial activities when the charity is legally entitled to the income and the amount can be quanti fi ed with reasonable accuracy. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. ## 1.5 Expenditure All expenditure is accounted for on an accruals basis and recognised where there is a legal or constructive obligation committing the trustees to the expenditure. Expenditure is included under expense categories that aggregate all costs. Where costs cannot be directly attributed to particular activities, they have been allocated on a basis consistent with the use of resources. ## 1.6 Investments Investments are initially recognised at their transaction value and subsequently measured at fair value. Investments are stated at market value at the balance sheet date. Realised gains and losses on investments, calculated on the di ff erence between the sale proceeds and their cost, are credited or charged to the statement of fi nancial activities in the year of the gain or loss. Unrealised gains and losses representing the movement in the market values during the year are credited or charged to the statement of fi nancial activities in the year of the gain or loss. ## 1.7 Fund accounting All funds held are unrestricted and are therefore available for use at the discretion of the trustees in furtherance of the general objects of the trust and which have not been designated for other purposes. - 7 - ## The Owen Jenkins Trust ## Notes to the accounts for the year ended 31 March 2023 ## 1 Accounting policies (Continued) ## 1.8 Grants paid Grants are recognised in the year in which the award is formally approved, irrespective of the period covered by the grant. ## 1.9 Liabilities Liabilities are recognised on the balance sheet as soon as a constructive obligation resulting from a past event can be reliably measured. Current liabilities represent those liabilities which are expected to be settled within the next 12 months from the balance sheet date. ## 2 Donations |2
Donations||| |---|---|---| |Cash donations
Non-cash donations
3
Expenditure
Raising funds:
Investment management fees
Charitable activities - grants
Grants payable (see note 4)
Charitable activities - support costs
Support costs (see note 5)|2023
£
303
-
303
2023
£
4,135
5,000
3,612
12,747|2022
£
10,149
563,924| |||574,073| |||2022
£
3,292
9,977
3,365| |||16,634| - 8 - ## The Owen Jenkins Trust ## Notes to the accounts for the year ended 31 March 2023 ## 4 Grants to institutions |Shrewsbury Food Hub
The Clwyd Riding for the Disabled
The Shrewsy House Charity
Jacana Project (3,400 Euros)
Lichfeld Diocesan Trust
The Shrewsbury Ark
Commitments at 1 April 2022
Commitments charged to the Statement offnancial activities in the year
Grants paid during the year
Commitments at 31 March 2023
Support costs
Accountancy fees
Bank charges
Independent examiner's fees|2023
£
1,000
2,000
2,000
-
-
-
5,000
2023
£
2,500
5,000
(7,500)
-
2023
£
2,574
78
960
3,612|2022
£
-
-
-
2,977
2,000
5,000
9,977
2022
£
-
9,977
(7,477)
2,500
2022
£
2,340
65
960
3,365| |---|---|---| ## 5 Support costs All support costs are considered to be costs of governance. ## 6 Trustees None of the trustees (or any persons connected with them) received any remuneration or were reimbursed for any expenses during the year (2022: none). ## 7 Employees There were no employees during the year (2022: none). - 9 - ## The Owen Jenkins Trust ## Notes to the accounts for the year ended 31 March 2023 ## 8 Investments |Investments||| |---|---|---| |Cost at 1 April 2022
Additions
Disposals
Cost at 31 March 2023
Unrealised (depreciation)/appreciation
Market value at 31 March 2023|2023
£
560,110
23,938
(46,123)
537,925
(539)
537,386|2022
£
-
670,221
(110,111| |||560,110
43,032| |||603,142| At the year end the charity also held 26,728 shares in Rubery Owen Trading Limited, 26,728 shares in SHL 123 Limited and 26,728 shares in New Hall Estates Holdings Limited. As these unlisted shares are not available for sale on the open market, and therefore their value cannot be reliably estimated, they are included at nil value. ## 9 Debtors |Debtors||| |---|---|---| |nvestment disposal proceeds receivable|2023
£
12,794
12,794|2022
£
-| |||-| ## 10 Creditors: amounts falling due within one year |Creditors: amounts falling due within one year||| |---|---|---| |Accountancy fees
Independent examiner's fees
Investment management fees
Grants payable (see note 4)|2023
£
2,574
960
999
-
4,533|2022
£
2,340
960
1,048
2,500| |||6,848| ## 11 Related parties During the year, non-cash donations of £nil (2022: £563,924) and cash donations of £nil (2022: £10,149) were received from the Owen Family Trust. - 10 -