The CJG Foundation
Registered Charity Number: 1200887
Report of the Trustees and Financial Statements
Y•ar Ended 5 AprS12025
Higgs LLP
3 Waterfront Business Park
Brierley Hill
West Midlands
DY5 LLX

The CJG Foundation
Index to the Flnancial Statements
Year Ended 5 Aprll 2025
P•ge
Contents
Reference ond Admlnlstrative Infomiatlon
Trustees, Annual Report
Statement ol FlnancSal Artivities
Balance Sheet
9-11
Notes to the Accounts

The CJG Foundation
Reference and Admlnlstratlve Information
Year and•d 5 Aprll 2025
Governlng Docum•nt
The Chartty is governed by the CIO Foundatlon
Constitutlon dated 2 November 2022.
The Charfty's reglstered charfty number Is 1200887.
TruJtee•
Ms Caroline Jane Garfield Trlpp
Mr Davld John Nightingale
Ms Klrsty McEwen
Se¢rnt•ry
Ms Klrsty McEwen
Solicltors
Higg5 LLP
3 Waterfront Busln&ss Park
Brlerley Hlll
West Mldlands
DY5 ILX

The CJG Foundatlon
Trustees. Annual Report
Year ended 5 April 2025
The Trustee5 present theSr annual report and financial statements of the Charlty for the year
ended 5 Aprll 2025. The financial statements have been prepared In arxordance with the
accountlng poll¢les set out In note I to the accounts and comply with the Charity'5 governlng
document, the Charitles Act 2011 and the Statement of Recommended Practlce applicable to
the charltles preparlng their accounts wlth the Flnancial Reportln9 Standard applicable on I
January 2019.
structurei Gpvernance and Management
The Charity was reglstered with the Charlty Commission on 2 November 2022 under reglstered
charlty number 1200887, and Is constituted under the CIO Foundation Constitution dated 2
November 2022 ("the Governlng Documenv).
The Charlty does not actlvely fundralse and seeks to contlnue charftable work through the
careful stewardship of Its exlstlng resour￿5.
The Govemlng Document provides for a mlnlmum of three Tnjstees and a maxlmum of twelve
Trustees.
One of the Flrst Trustees is entitled to hold offlce for life and the ￿MaInIng ￿rst Trustees are
entitled to hold office for five and four years ￿spectIvelY. Any future Trustee5 are appolnted by
resolution of the Trustees and must be appolnted for a temi of offlce of three years,
Trustee5 must hold one meetlng each year, elther in ￿rsOn or by sultable electronlc means.
The quorum at any meetlng Is at least one third of the total number of Trustees at the time, or
two, whichever Is the greater.
At the Trusteeg meetings, the Trustees agree the broad strategy and areas of activltles for the
Charfty, Includlng consideratlon of grant maklng, Investment, ￿SerVeS and risk management
poll¢les and performance. The day to day admlnlstratlon of grants and the processlng and
handllng of applications prfjor to con5ideotion by the Trustees is delegated to the Secretary.
The Trustee5 would take account of the ￿comMendatIonS of the ECSA best practlce gulde
'Recruitment, Appolntment and Induction of Charity Trustees, should the need to recruit new
Trustees arise. The Trustees would look to recrult In Ilght of an approprlate skllls audit of the
current Board and taklng into account the experience, expertise and dlverslty of the current
Board, as well as their kr￿ledge of the Charity's area of benefit and beneflclal class,
New Trustees may be sought by open advertisement or through a dlalogue wlth major grant
clplents and local comrnunity groups respecting the eth95 Of the Charlty to contlnue the
charltable work Intended by the settlors, the Trustees actlvely seek those with a knowledge of
the local area when conslderlng any prospectlve eandldate. The ultlmate decision on selertlon
Is a matter for the Trustees.
On appointment new Trustees sign a Trustee Declaratlon and Undertaking ¢ommlttlng them to
the glving of their time and expertlse. It also confirms their abllity to act In the role of
Trustees. The induction process has been changed to follow the ICSA good practlce guide wlth
fomal inductlon programme for any newly appolnted trustee being led by the Secretaryi to
include initial training in the grant making process, the dutle5 and responslbillties of the
Trustees and the role of any sub commlttees. The welcome pack Includes, amongst other
information and guldance, a brfef hlstory of the Trust, copy of recent Trustee (and Sub
committee) mlnutes, a copy of the last three years of annual reports and accounts, a copy of
the Governing Document and a copy of the Charity Commlsslon's gUIdan￿ 'The Essential
Trustee,. What You Need to Know. and 'Charltles and Public Benefit..

The CJG Foundation
Trustees. Annual Report
Year ended 5 Aprll 2025
The Trustees intend in the upcomlng year, wlth the support of the Secretaryi to developlng a
code of conduct for Trustees Includlng formal statements of roles and responsibilities and to
undertake work on the Cha￿ty Governance Code.
All Trustees give of thelr tlme freely and no Trustee rernuneratlon was pald In the year.
Trustee5 a￿ entitl￿ to ¢laim reasonable out of pocket expenses and where they do those are
noted In the accounts.
Trustees are requlred to dlsclose annually (and as they arlse) any potential interests which
mlght confllct and register them with the Secretsry and In accordance with the Charlty's
written confllcts of Interest pollcy.
Risk Management
The Trustees have consldered the maJor risks to which the Charlty Is exposed and have
revlewed those risks and establlshed systems and procedures to manage those rlsks.
The major flnandal rlsk is the variability of investment retums on the ptsrtfolio and Its impact
on income levels and capltsl gmwth. The Trustees wlll seek to manage this risk by appointing
a sultably experlenced Dlscretlonary Manager to manage the Investment portfollo. Thelr role
will be to monitor the performantr of the portfollc, to take appropriate artlon to mltlgate any
loss to the portfollo, and to ensure that the objectives as detailed in the proposed Investment
Pollcy Ststement are followed and revlewed annually.
The maJor operatlonal rlsk ￿ the extent to whlch grants awarded to Indlvlduals and charltable
or not for profit organisation$ advan￿$ the objects of the Charfty and demonstrate 5ufflclent
publlc benefit. The Charfty has managed its risk by retaining Trustees of sufflclent expertlse
and experlence, and thrDugh the quallty of the Institutlons and the people who they 5UPPOrt.
In addition, the Trustees rely on the Secretary to undertake appropriate and proportlonate due
dlllgence on appllcatlons and ensure all grant giving retains a focus on the public benefit.
The major regulatory impart of the Cornmon Reportlng Standard ('the CRS,), on the operation
of the Charity. CRS Is belng an Internatlonal tax transparency reglme almed at preventlng tax
evaslon. CRS came Into force from l January 2016 and the Charlty Is now fftqulred to provlde
Information about their beneflclarles, tax resldency status to HMRC, who wlll then share thls
Infom)atlon wlth the approprfate tax author5ty in other Jurlsdlctlons.
The Charity is subjert to thls reglme because it relies on investments for more than 50% of Its
Income and those investments are professionally managed by a financial institution under
dlscretlonary mandate. Thls means the Trustees are requSred to carry out due diliger1￿ to
establish a tax resldency status of all beneficiarie5, keep records of efforts to comply wlth the
regime, reglster wlth HMRC as a financial Instltutlon C'Financial Institution") if they have
reportlng requlrements and report to HMRC If requlred.
The 9rant application process wlll be revlewed annually and the grant applicatSon form
expanded to collect the necessary due dlllgence Informatlon that Is requlred in order to
establlsh tax residency status of all grant recipients. both indivlduals and charlty and not for
proflt organisations. This Includes addltional infomation including tax resldent jurlsdlctlon, tax
Identlficatlon number (for Indlvlduals) and entlty status (for organ15ations). The Trustees will
keep thls under revlew.

The CJG Foundatlon
Trustees. Annual Report
Year ended 5 April 2025
Objects and A¢tivltle8 for the Publ1¢ B¢n¢flt
The objects of the Charlty are "to advance such charitable purp￿5 (accordlng to law of
England and Wales) as the Trustees see flt from tlme to tlme".
The Trustees conflmi that they have referred to the guidance contalned In the Charlty
Commisslon's general guldance on publlc beneflt when revlewlng the Charlty's objects and
purposes and in planning future actlvltles and settlng the grant maklng pollcy for the year.
The Trustees wlll prepare a Grant Maklng Pollry and revlew thls on an annual basls, Thls wlll
be available on request.
The Trustees have ? wlde dlscretton to make grants to charltles and for charltable purposes.
The Trustees confirn that they wlll refer to the guidan￿ contained in the Charity Commlsslon's
general guidance on publlc beneflt when revlewlng the Charltys objects and purposes and In
plannlng future activities and settlng the grant maklng pollcy for the year.
The Charity wlll carry out Its objects by provldlng grants to Indlviduals (for excluslvety
charltsble purposes) and to charftable and not for proflt organlsatlons (for excluslvely
charitsble purposes).
By focusing on these areas, the Charlty wlll achleve Its strategic priority of malntalnlng a stable
grant m4klng programme, with balancing support to indlvlduals and to charities and voluntary
organlsatlorffj (for exclu51vely charitable purpuse5).
Grant Maklng Pollcy
The Charlty wlll e5tsblish its grant making policy to achleve its objects for the public benefit, to
Improve support to charitles and voluntary organlsatlons (for excluslvely charitsble purposes)
within Its objects and to advan￿ the publlc beneflt. The Trustees wlll revlew the grant maklng
pollcy annually to ensure it reflerts these two prlnclples.
The Trustees have pjwer to spend or retsln both capital and Income. Thus both Income and
capltal is expendable without dlstlnctlon In furtherance of the objects.
The Charlty's beneflclarles are tharltable organisatlons and voluntary oryanlsatlons (for
exclusively charitable purposes). All organlsatlons must demonstrate that the actlvlties they
undertake advan￿5 the publlc benefit.
The general pollcy of the Trustees Is not to glve retr05pectlve grants and the Tnlstees wlll only
consider one appllcatlon from any applicant.
Grant Maklng Procedure
Applications will only be consldered If they are on the Charity's Standard appllcatlon form. The
appllcatlon form must be completed and retumed (together wlth a copy of any supportlng
infomati¢n ￿levant to the application) to the Seuetary at least four weeks before thÈ meeting
at which the appllcatlon Is to be considered.
The Trustees will meet once a year to consider appllcatltsns.
It Is the pollcy of the Trustees to consider grants on an equal opportunitles basiS1 regardless of
gender, religlon and ethnlc background,

The CJG Foundation
Trustees. Annual Report
Y•ar ended 5 Aprll 2025
Publlc Benefft
The Trustees conflrn) that they have referred to the Informatlon contalned in the Charlty
Commisslon's general guidance on publlc benef(t when revlewing the Charlty's objects and
artivltles, their grant making policy and plans for future period. The objects and actlvltles of
the Charlty are largely determlned by the provlslons of the Governlng Document, and frorn
the￿ the Trustees exerclse a d15cretlon In conslderlng how best to meet the publlc benefit test
and ensure that as many indlvlduals and charftable and not for profit organlsatlon5 wlth
partlcular needs wlll galn advantage.
Monltorlng and Achievement
The Trustees will seek a rea50nable ￿tUrn over the long term. It Is Intended that when the
arlty's portfolio is set up it wlll show a welcomed recovery and that the long term objectives
to meet Income needs and grow the capltal are obtalnable.
Flnanclal Review
The Charity's work wlll be entlrely rellant on IrKome and Investment returns from Its capltal. As
at 5 Aprll 2025, the value of the capltal fund stood at £0. During the year the Income of the
Charlty was £0.
Investment Pollcy and Perform•nee
The investment power5 of the Trustees are wide and allow the Trustees to Invest funds In any
matter (after taklng such advlce as they consider necessary) and havlng regard to the
sultablllty of Investments and need for dlverslflcatlon.
The prlnclpal Investment holdings of the Charlty comprlse fvnds and portfollos of quoted
securlties. As at 5 Aprll 2025, It Is Intended the volue wlll represent 100 % of the Chartty s
Investments. The management of the portfollo wlll be undertaken on a dlscretlonary
management basis by a suitably appointed dlscretlonary manager and the wrltten Investment
policy wlll be reviewed on at least an annual basls by the Secretary In ¢onJunrtlon with the
Investment managers and ultlmately approved by the Trustees.
The dlscretionary managers wlll be Instructed to maxlmise the Income of the portfolio whilst
preserving the capltal, wlthln the constralnts of a medium rlsk Investment portfolio.
Reserves Pollcy
The whole of the Charity'5 capltal will be expendable and thi5 distlnctlon between capltal and
income is not relevant. The Trustees appreclate that the general prfnciples of charlty law
require Trustees to spend thelr Income wlthin a rea50nablÈ pÈrlod of recelpt.
Slnce the Charlty will receive all of Its Income from the investment portfollo, the Trustees are
mindful that any source of income can be volatlle and subject to sudden changes In the
market. They are concerned that In any year there is a rlsk that they cannot meet their
ongoln9 administration and professlonal expense commltments as and when they arlse, due to
any fluctuatlons In the m?rket whlch rnay prevent or slgnificantly reduce income.
The Trustees will consider, in conjunctlon wlth thelr professlonal advlsers, the level of reserves
to retaln from surplus unrestrlcted funds. They have declded to build up a pot of reserves
equlvalent to one year's adrninistrative and professional expenses but excludlng grant
Commitments. This will ensure that should there be any fluctuatlons in the market whlch
reduce the income avallable for distribution, the Charity can use Its reserves to continue to
meet Its obligations and Ilabllities as and when they fall due.

The CJG Foundation
Trustees. Annual Report
Year ended 5 April 2025
Plan for Future P¢rlod$
The Tnjstees believe thelr grants will translate Into slgnificant public beneflt. In ￿MentIng the
arrangements alreaéy In place, and beglnnlng wlth Its activitles as set out In this report, so
that the many and varled charltable and not for profit organlsatlons, and Indlviduals may
benefit In real terms from its financlal support, the Charity aims to provlde a long term
¢ommltment and encouraoe and support Indlvlduals and charltable and not for profit
organlsations.
The Intention Is to establish a programme of grant glvlng whlch wlll translate into slgnificant
public benefit. The Trustees villl focus on those indlvlduals and organisations who would
benefit In real terms (impact) from its flnanclal support, thus provldlng and ensurlng a longer-
term cornmitment to support.
Trustees, Responslbllltles In Relatlon to the Flnanclal Statements
The Trustees are ￿Ponsible for preparlng the Tru5tee5' Report and the financial statements in
accordance wlth appllcable law and regulatlons and Unlted Klngdom Accounting Standards.
The law appllcable to charities In England and Wales requlred the Trustees to give a true and
falr vlew of the state of affalrs of the Charlty and of the in￿rnIng resources and applicatlon of
resources, Includlng Income and expendlture of the Charlty for that period.
In preparbng these flnanclal stètements, the Trustees are requlred to..
•select Suitabie accounting pollcles and then apply them conslstentlyl
•observe the methods and prlnclples of the CharStles SORP.
•make Judgements and estlmates that are reasonable and prudent:
•state whether appllcable accounting 5tsndards have been followed, subject to any materlal
departures disdosed and explalned in the financlal staternents. and
•prepare the flnanclal statements on the going contrrn basls unless It Is Inapproprlate to
presume that the Charlty wlll continue in operation.
The Trustees are responslble for keeping adequate accountlng records that are sufficient to
sh¢w and explaln the Charlty's transartlons and disdose wlth reasonable accuracy at any tlme
the flnancial position of the Charlty and enable them to ensure that the financlal statements
comply with the Charltles Act 2011, the Charity (Accounts and Reports) Regulatlons 2008 and
the Governlng Document.
They a￿ also res￿nsIble for safeguarding the assets of the Charity and hence for taklng
reasonable steps for the preventlon and detectlon of fraud any other irregularitie5. The
Trustee5 are responslble for the malntenance and Integrlty of the Charlty and flnanclal
informatlon Included on the Register of Charftles.
Ap
ved by the Trustees and signed on thelr behalf by,.
cEwen
Trustee

The CJG Foundation
statement of FSnancial Activitles
Year ¢nd•d 5 Aprll 2025
Notss ilnre8trlcted
Fund•
Total Funds
2025
2024
Income wesources:
Income resources from generated
funds
Total Incomlng rewurces
R•sourceg expend•d:
Investment management costs
Charftable actlvltles
Cost of grant rna￿n9
Governan￿ costs
Total resourcas wJ•nded
Net (outgoing)lineomlng
resour￿ before other rncognised
galns arld losses
Reallsed galns/(losses) on
Investment assets
Unreallsèd gains/(losses) on
Investment assets
N•t movement In funds
Reconclllatlon of funds
Total funds brought fonward
Total funds carrlad fonvard

The CJG Foundation
Balance Sheet
Year ended 5 April 2025
Note•
Unrestrlcted
Fund•
Total Funds
2025
2024
Fixed A$￿ts
Investments
Total Fixed Assot#
Current Assets
Cash wlth bank
Debtors
Tot•1 current assets
Llabllltles
Creditors frdlllng due wlthln one
year
Net ¢urr¢nt aswts
Total assets lem ¢urr•nt Il•bllltle$
Credltors falllng due after more
than one year
N¢t assets
The funds of the Charity
Unrestrlcted Sncome fvnds
Total Charity fund¥
The notes on pages 9 to 11 form a part of these accounts.
Appmved by the Trustees and signed on their behalf bv:
McEwen
Trustee

The CJG Foundation
Notes to the Accounts
Year ended 5 April 2025
l. Accountlng pollclei
(a) Basis of preparatlon
The flnancial statements have been prepared under the hlstorlc cost convention. wlth the exception
that Investments are Included at market value. The flnanclal statements have been prepareé In
accordance wlth the Ststement of Recommended Practice.. Accountlng and Reportlng by Charttles
(FRSEE) Issued In January 2015 and appllcable UK Accountlng Standards and the Charttles Act
2011.
Ib) Funds structur•
The Charlty has one fund, an unrestrltted Income fund. Th15 Is a fund whlch the Trustees are free to
Use for any purpose In furtherance of the cha￿table objects. Unrestrfcted fund5 Include deslgnated
funds where the Trustees, at their dIsC￿tIon, have created a fund for a spedflc purpose.
(c) Incomlng resourc
All Incomlng resources are recognlsed once the Charity has entltlement to the resources, it is ￿rtsIn
that the resources vlill be received and the monetary value of inctsming resources can be rneasuTed
wlth sufficlent rellablllty.
(d) Expendfture on raising funds
"abilities are recogn15ed as resources expended a5 500n as there Is a legal or construrtlve
obllgatlon commltting the Charity to the expendlture. All expendlture is accounted for on an accrual$
basis and has been classbfied under headings thot aggregate all costs related to the category.
Grants payable are payments made to charftable organisations In the furtheran￿ cf the charitable
obJects of the trust. Single or multl-year grants a￿ accounted for when either the reclpient ha5 a
reasonable expectauon that they wlll recelve a grant and the Trustees have agreed tD pay the grant
V41thout condition, or the redplent has a reasonable expettatlon that they wlll re￿1ve a grant and
any condition attathlng to the grant Is outslde the control of the Charlty.
Pmvlslons for grants are made when the Intentlon tg make a grant has been communicated to the
reclplent but there Is uncertalnty about elther the tlmlng of the grant or the amount of the grant
payable.
(e) Expendlture on ￿￿er￿tIr￿9 fund$
The costs of generating funds consists of investment management fees, legal fees, accountsncy
fees and other governan￿ and regulatory fees.
(Q Charitable actlvltles
The cost of charitable activlties Indudes grants made.
(g) Governance ¢osts
Governan￿ costs comprfse all costs Involvlng the public accountabi1Sty of the Charlty and it5
compllance with regulation and good practlce. These costs inrlvde costs related to the preparation
of the account5, the Independent exarnlnètion fee and legal fees.
(h) ffxed auet Inv•stment
InV￿tments are ststed at market value as at the balance sheet date. The statement of flnanclal
attivities Includes the net galn and lo￿¢$ arlslng on revaluation and disposals throughout the year.
(l} Reallsod galns and losseg
All galns and10gses are taken to the Statement of Flnanclal Attivities as they arlse. Reallsed gains
and 105ses on investments are calculated as the differen¢e between sales proceeds and openlng
market value (purchase date if later). Unreallsed galns and 1055e5 are calculated as the dlfference
between and market value at the year end and openlng market value (or purchase date If later).
Realised and unrealised gains are nut Separated In the Statement of Financlal Actlvities.

The CJG Foundation
Notes to the Accounts
Y¢ar ¢nded S April 2025
U) Contifftgent Ilabllitles and provlslons
In accordance with the SORP, a contingent liability is disclosed for those grants. which do not
represent liabilities, where the possible obllgatlon, whlch arlses from past events, wlll only be
confirmed by the Dccurrence of one or more unrertain fijture events not wholly wlthln the Trustees,
control. Provisions are recognised for those grants where there is uncertainty as to the tlmlng or
amount, and any Un￿rtaIntY regarding the amount 15 more than one of determinlng a basis for
reasonable estimatlon of the Ilablllty arlslng from that construrtive obligation.
2. Related phrty transactions and Trustees. remuneratlon
There were no related party transactions or Trustees, remuneratlon pald for the tlnanclal year
endlng 5 Aprfl 2025.
S. Investment income
2025
2024
Divldends - UK equltitles
Dividends - Non-UK equltles
Interest- UK fued interest securities
Interest on cash deposlts
Interest - Non-UK fixed Interest securltoes
4. Investment 14anager's co•ts
2025
2024
S. Analysls of charitable •xp•nditura
The Charitywlll undertake Its charitable attlvltles through grant maklng and award grants to
number of organisations in furtheran￿ of its charltsble actlvltles.
Grant funded activities:
2025
2024
Total
6. Governance costs
2025
2024
lftdependent examination fee
Bank charges
Legal fees: Administration
Acc¢unts preparatSon
VAT
io

The CJG Foundation
Notes to the Account5
Year ended 5 Aprll 2025
7. Flxed asset InveBtm•nts
Mowement In fixeLI asset Investments
2Q25
2024
Market value as at 5 Aprll 2024
Additlons to investments at cost
Disposals at carylng value
Net gainl(loss) on waluatlon
Net movement on cash
Market value as at 5 April 2025
Inve•tm¢nts at market valu¢ comprf•ed:
2025
2024
Equltles
Fbxed Interest securities
Cash held wlthin portftjlio
Total
8. Analy818 of currwrt liabilitites and long terni credltor$
2025
2024
Credltors under l year
Legal fees
VAT thereon
Independent examineVs fee
li