## The NJF Family Charitable Trust 

Charity no.1197882 

Trustees' report and unaudited accounts For the period from registration to 31 December 2022 



## The NJF Family Charitable Trust 

## Legal and administrative information 

|Trustees|Nicola Jane Farquhar|
|---|---|
||Edward Peter Henry Farquhar|
|Charity number|1197882|
|Principal address|25 Ladbroke Grove|
||London|
||W11 3AY|
|Accountants|Evelyn Partners LLP|
||Accountants|
||Old Library Chambers|
||21 Chipper Lane|
||Salisbury|
||Wiltshire|
||SP1 1BG|
|Independent examiner|Julie Mutton FCA|
||Evelyn Partners LLP|
||Old Library Chambers|
||21 Chipper Lane|
||Salisbury|
||Wiltshire|
||SP1 1BG|
|Investment managers|Close Brothers|
||10 Crown Place|
||London|
||EC2A 4FT|





## The NJF Family Charitable Trust 

## Contents 

||Page|
|---|---|
|Trustees' report|1 - 3|
|Independent examiner's report|4|
|Statement offnancial activities|5|
|Balance sheet|6|
|Cashfow statement|7|
|Notes to the accounts|8 - 10|





## The NJF Family Charitable Trust 

## Trustees' report for the period ended 31 December 2022 

The trustees present their report and accounts for the period from registration to 31 December 2022. 

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the attached accounts and comply with the charity's trust deed, applicable laws and the requirements of 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). 

## Structure, governance and management 

## _Governance_ 

The charity was established by a trust deed on 11 November 2021 and registered as a charity on 11 February 2022. The charity registration number is 1197882. Its address is 25 Ladbroke Grove, London,W11 3AY. 

## _Trustees_ 

The trustees who served during the period were: Nicola Jane Farquhar Edward Peter Henry Farquhar 

The power of appointing trustees is exercisable by the Settlor during her life or by will. 

## _Risk factors_ 

The trustees have reviewed the risks to the charity's assets and income and are satis fi ed that adequate controls are in place. 

## _Objects and activities_ 

The charitable trust was formed for such purposes as are exclusively charitable at the absolute discretion of the trustees. 

The income shall be applied by the trustees in the payment of grants to charities or for charitable purposes as the trustees think fi t. 

The trustees have absolute discretion to transfer any trust property to any charity and may apply any trust property for any charitable purpose. 

## _Public bene t_ 

The trustees con fi rm that they have paid due regard to the Charity Commission's guidance on public bene fi t. 

## Achievements, performance and fi nancial review 

## _Financial review_ 

The fi nancial activities are summarised on page 5 of the accounts. During the period the charity received £750,000 in donations, £12,411 from investment income and £151 of interest. The charity also received an expendable endowment of £250,003. This was received by way of shares in investments. 

An analysis of grants payable is provided in note 3. Grants with a total value of £33,000 were paid during the period in furtherance of the objects of the charity. 

- 1 - 



## The NJF Family Charitable Trust 

## Trustees' report for the period ended 31 December 2022 

## _Reserves policy_ 

It is the policy of the charity to hold reserves which are su ffi cient to allow future grants and donations to be made out of investment income at the discretion of the trustees. At 31 December 2022, the total reserves amounted to £893,492. 

## _Investment policy_ 

The charitable trust deed permits any investments to further the objects of the charity. The charity has a portfolio of listed investments that had a market value of £874,953 at 31 December 2022. 

## _Related party transactions_ 

During the year, Nicola Farquhar donated £750,000 into the unresricted income fund and £250,003 by way of investments into the expendable endowment fund. 

- 2 - 



## The NJF Family Charitable Trust 

## Trustees' report for the period ended 31 December 2022 

## Trustees' responsibilities 

The trustees are responsible for preparing the trustees' report and the accounts in accordance with applicable law 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 incoming resources and application of resources of the trustees  for that year. 

In preparing the 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 accounting standards have been followed, subject to any material 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 trustees' transactions and disclose with reasonable accuracy at any time the fi nancial position of the charity and which enable them to ensure that the accounts comply with the Charities Act 2011, the relevant Charity (Accounts and Reports) Regulations 2008 and the provisions of the charity's governing document. 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 

Nicola Farquhar ................................................. Nicola Farquhar Trustee 

Date: 31 October 2023 

- 3 - 



## The NJF Family Charitable Trust 

## Independent examiner's report 

I report to the trustees on my examination of the accounts of The NJF Family Charitable Trust for  the period ended 31 December 2022 which comprise the Statement of fi nancial activities, the Balance sheet, the Cash fl ow statement and the notes to the accounts, including a summary of signi fi cant accounting policies. 

## Respective responsibilities 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 

Since your charity's gross income exceeds £250,000, your examiner must be a member of a body listed in section 145 of the Act. I con fi rm that I am quali fi ed to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. 

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 charity 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 the 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. 

## Julie Mutton 

## Julie Mutton FCA 

Fellow of The Institute of Chartered Accountants in England and Wales Evelyn Partners LLP Old Library Chambers 21 Chipper Lane Salisbury Wiltshire SP1 1BG 

Date: 31 October 2023 

- 4 - 



## The NJF Family Charitable Trust 

## Statement of fi nancial activities for the period ended 31 December 2022 

|Unrestricted<br>Expendable<br>income funds<br>endowment<br>funds<br>£<br>Income:<br>Donations and gifts of investments<br>2<br>750,000<br>250,003 <br>Investment income<br>12,411<br>-<br>Bank interest<br>151<br>-<br>Total income<br>762,562<br>250,003<br>Expenditure:<br>Raising funds<br>4,076<br>-<br>Charitable activities - grants<br>3<br>33,000<br>-<br>Charitable activities - support costs<br>4<br>5,441<br>-<br>Total expenditure<br>42,517<br>-<br>Net income before gains and losses on investments<br>720,045<br>250,003<br>Losses on investments<br>(26,333)<br>(50,223)<br>Net movement in funds<br>693,712<br>199,780<br>Total reconciliation of funds:<br>Total funds brought forward<br>-<br>-<br>Total funds carried forward<br>693,712<br>199,780|2022<br>£<br> 1,000,003<br>12,411<br>151<br>1,012,565<br>4,076<br>33,000<br>5,441<br>42,517<br>970,048<br>(76,556)<br>893,492<br>-<br>893,492|
|---|---|



All income and expenditure derives from continuing activities. 

- 5 - 



## The NJF Family Charitable Trust 

## Balance sheet as at 31 December 2022 

|Notes<br>Fixed assets<br>Investments<br>7<br>Current assets<br>Cash at bank and in hand<br>Creditors: amounts falling due within one year<br>8<br>Net current assets<br>Net assets<br>Income funds<br>Unrestricted funds<br>Endowment funds|£<br>30,113<br>30,113<br>11,574|2022<br>£<br>874,953<br>18,539|
|---|---|---|
|||893,492|
|||693,712<br>199,780|
|||893,492|



The accounts were approved by the board, authorised for issue and signed on their behalf by: 

Nicola Farquhar .............................. Nicola Farquhar Trustee 31 October 2023 Date: .............................. 

- 6 - 



## The NJF Family Charitable Trust 

## Cash fl ow statement for the period ended 31 December 2022 

||||2022|
|---|---|---|---|
||Note||£|
|Net cash outfow from operating activities|9||719,057|
|Cashfows from investing activities:||||
|Investment income||12,562||
|Payments to acquire investments||(713,094)||
|Receipts from sales of investments||11,588||
|Total cash outfow from investing activities|||(688,944)|
|Increase in cash|||30,113|
|Cash and cash equivalents at the beginning of the period|||-|
|Cash and cash equivalents at the end of the period|||30,113|
|Analysis of net funds||||
||At 11 February|Cash|At 31 December|
||2022|fows|2022|
|Cash at bank and in hand|-|30,113|30,113|



- 7 - 



## The NJF Family Charitable Trust 

## Notes to the accounts for the period ended 31 December 2022 

## 1 Accounting policies 

## 1.1 General information 

The NJF Family Charitable Trust was established as a charitable trust by a deed dated 11 November 2021. It is registered with the Charity Commission in England & Wales (No. 1197882). The address of the principal o ffi ce is 25 Ladbroke Grove, London, W11 3AY. 

## 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 trust 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. 

## 1.3 Income 

All incoming resources are included in the statement of fi nancial activities when the charity is legally entitled to the income, receipt is probable and the amount can be quanti fi ed with reasonable accuracy. 

## 1.4 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. It has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of resources. 

## 1.5 Fixed asset 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 period of the gain or loss. 

Unrealised gains and losses representing the movement in the market values during the period are credited or charged to the statement of fi nancial activities in the period of the gain or loss. 

## 1.6 Fund accounting 

The funds comprise an expendable endowment fund and an unrestricted income fund. The expendable endowment fund is invested and income from the investments is available for the general purposes of the charity. The income fund is available for use at the discretion of the trustees in furtherance of the general objects of the charity. 

- 8 - 



## The NJF Family Charitable Trust 

## Notes to the accounts for the period ended 31 December 2022 

|2|Donations and gifts of investments|||
|---|---|---|---|
|||Unrestricted fund|Endowment fund|
|||2022|2022|
|||£||
||Cash donations|750,000|-|
||Donation of investments|-|250,003|
|||750,000|250,003|
|3|Grants payable|||
||||2022|
||||£|
||Grants to institutions:|||
||The Royal Marsden Cancer Charity||10,000|
||Oscar India||7,500|
||Combat Stress||5,000|
||Prism the Gift Fund||5,000|
||Allegra's Ambition||2,500|
||The Institute of Cancer Research: Royal Cancer Hospital||2,500|
||The Cure Parkinson's Trust||500|
||||33,000|



## 4 Support costs 

|Support costs||
|---|---|
|Accountancy fees<br>Independent examiner's fees<br>Bank charges<br>All support costs are considered to be costs of governance|2022<br>£<br>3,726<br>1,490<br>225|
||5,441|
|||



## 5 Employees 

There were no employees during the period. 

## 6 Trustees 

None of the trustees (or any persons connected with them) received any remuneration or were reimbursed for any expenses during the period. 

- 9 - 



## The NJF Family Charitable Trust 

## Notes to the accounts for the period ended 31 December 2022 

|7|Fixed asset investments - listed||
|---|---|---|
|||2022|
|||£|
||Cost at 11 February 2022|**-**|
||Additions at cost|852,455|
||Disposals|(12,045)|
||Cost at 31 December 2022|840,410|
||Change in value in the period|34,543|
||Market value at 31 December 2022|874,953|
|8|Creditors||
|||2022|
|||£|
||Accountancy fees|3,726|
||Independent examiners' fees|1,490|
||Investment management fees|1,358|
||Other creditors|5,000|
|||11,574|
|9|Net cashfows from operating activities||
|||2022|
|||£|
||Net movement in funds (as per the statement offnancial activities)|893,492|
||Donations gifted by way of investments|(250,003)|
||Investment income|(12,562)|
||Losses on investments|76,556|
||Increase in creditors|11,574|
|||719,057|



## 9 Related parties 

During the year, Nicola Farquhar donated £750,000 into the unresricted income fund and £250,003 by way of investments into the expendable endowment fund. 

- 10 -