Mrs Jane Cart's Trust (Including linked charity Mrs Jane Cart's Almshouses) Accounts for the year 1st April 2024 to 31st March 2025
Mrs Jane Carvs Trust (including Ilnked charlty Mrs Jane Carvs Almshouses) For the year ended 3141 March 2025 Contents Pag• Referencel Administrative Inf0MtIOn Report of the Trustees StNcture, Governan and Management Staternenl of Trus*es Responsibilities Report of the IndeperKlent Auditor Statemenl of Financial Activities 12 Balance Sheet 13 Notes to the Accounts 14
Mrs Jane Cart's Tn (includlng linked charity MpJ Jana Cart's Almshouses) For year ended 3111 March 2025 Reference and Admlnlstratlve Infomialion Registered Charity Nutythf 200186 Trustees Mr Jeremy H M N8wsum (Char) Rt Rev Richard Atkiln OBE, Bishop of B3f0rd Mrs Caroline L E M Bewes Mrs Cynthia M Gresham Mrs Cressida E Rayner Mr Edmund M Wood Mrs Jane E trilbread Mr Andrew Br(Avn OBE Clerk to the Trustees Karen Petkins cjo Bedfordshire and Lulon Comnwnlty Foundation Correspondence address cjo Bedfordshire arbd Lut(xi Communty Foundation Enterprise House Wrest Park Silsoe Bedfordshlre MK45 4HS Audltors HW Associates Lvnited Portmill House Portmim Lane Hitchin SG5 1DJ Banke Barclays Bank PLC 28 George Street Luton LU12AE Scottish Bank PLC PO Box 12757 67 Morrison Street Edinburgh EH3 8YJ Invostment Managers Sarasin and Partners LLP Juxon House 100 St Paul's Churchyard London EC4M 8BU
Mrs Jano Carvs Tnmt (including linked charfty Mrs Jane Carvs Almshouses Report of the Trustees for the year ondod 31•t March 2025 The Trustees present their annu81 report tc•Jether with the aggregat&J audited ac%ounts for the year ended 31 March 2025 for Mrs Jane Carvs Twst and its linked charity Mrs Jane Carvs Almshouses. They are prewed in accordance with the accounting policies set out in note 2 to the accounts compty with both charbties, trust deeds, the Charities Act 2011 and Accounting and Reporting by Charitios: Statement of RecOmnded Practi applicable to charities preparing their accounts in accordance with the Financial Rewrting Standard applicable in the UK and Republic of Ireknd <FRS102) (effective 1• January 2019) (as by Uwlate Bulletins 1 and 2 in Ocober 2018). Oblects and Athities The principal objects ofthe charity We: The relief of [r clergy, their SFX)uses. widows, widcrwers, and dependants. The upkèèp of a monumenl and dock in Dunstable partsh church. A semK)n to be preached in Dunstsbk parth church; and The relief of w members of the Church of Eand resident in DLr6lable eltlw In in kind or gtant8 of money. The principal admty during the year has been payTrts in the form of grants to such benefidwle& Mrs Jan6 Carys Alrr6houses The princpal coiect of the charity is the provtsion of housiro acecfflmat1( for pM)or single wom and widows in Dunstable and certain surrounding parishes. or the Mak1 of grants or payments to suth beneficiaries or other bodies who provmle aSsislan to those in need. The Almshouses were sthj in 2006 and the catsl value realsed been reinvested in stock exchange securilies. Public bonefft The Twstees have referred to the guKlance containexl in the Charity Commission's general guidance on pubfic benefft when reviewng aims and obje¢tNes and in pnnIng future activilies. In particular, the Trustees consider how planned aGtivitw wi]1 rtrIbute to the aims and objectives they have set. Mrs Jane Th8 publlc benefrt achieved by the Charity Is In the fom of indNidu81 grants given to members of the Church of England dergy or their dependants, to alleviate hardship and support their ministry. This can cover 8 variety of circumstances such as the addtktonal costs bome Up retir or medical expenses. Indi¥idua15 a5Wy for a grant through a fomi thtch d6tsils their fjnancial rCUMStanCeS and the reason they are in hardship. ou Mrs Jane Carvs Aknshouses makes grants to other almshouse Irusts and housing providers supporting poor slNJle women.
Mrs Jane Cart's Trust (including linked charity Mrs Jane Cart's Almshouses> Roport of the Trustees for the year ended 3q•t March 20251continuad) Achlevements and Performance The Trustees have undertaken a review of scrfne of their operational and strategic objectives wlth a view to facilitating wtwaccess to theirfunding. Grants were paid by Mrs Jane tst's Tt tt) benefft ¢lwgy and their dewdants totalling £11)0,405 to 78 persons (2024 £100,472 to 72 pefsonsl. The trust have agreed to support the year of spiritual renewal facilitated ty th8 St Albans Diocese. £60,000 has been rUed Hi the accounts to reflect the contribution experted for 2025. A slmlar contrll)utlon is expe(ed for 2026. Grants akn made to Dunstable Parish Church £10.IXKI and St Fr8munds Church £2,902. Grants were paid totalling £13,157.20 by Mrs Jane Carvs Alfftshou58s durirrfj 2025 {2024 £7.880). Payments were made to Lulon Wornen's Atd and Ashton Almshouses. Plans for fvture periods The Jane Cart Tntst is continuousty revtth¥ing th8 ImplarnlIOn and efficw of 118 oKatIonS particularly in view of its Objects. Financlal Revlew The results of the chaity for the year are s wt in the Statement of FInala1 Aetivitses on pgge 12. Reserves Policy Perma1 Endowmont The trustees have exercised the power granted under section 104A (2) of the charities Act 2011 and adopted a lotsl retum policy for both Mrs Jane Carts Trust and Mrs Jane Carfs Almshouses. The initial values of the trust for investnRrt and the initial Yalue of the unapplied totd retum vftre established on 314t March 2022. The trustees have apwoved a return of 3% of the total investment as of 31#t Decemter 2023 to be applied frorn 1 P4YiI 2024 for the year to 3111 March 2025.
Mrs Jane Cart Trust {Includlng Ilnked charlty Mrs Jane Carvs Almshouses) Report of the T196$ for the ygar onded 31st March 2025 Iconllnu8d) Structure. Governance and Managornent Governing documents Mrs Jane Carts Trust vms prtncipally foUndj by Deeds of Lease and Release made by Mrs Jane Cart on the arKI 23rt June 1736. It is currendy regula by a Scheme made by the Charity Commlssioners daled 1 Feb 1992. The goveming document of Mrs Jane Carts Almshouses is a Scheme mode by the Charity Commissioners dated June 2002. Appointmant of Trust•69 B¢Ah tharities have the same Trustees. are appointed by a resolution ofthe existing Trustees of the charity passed at a special meeting of which not less than twenty-one days. notice has been gNen. Oryanisation The names of the Trustees who srnl during Ihe year arKI to the date of signing the report ar8 sel on page 3. Trustees meetings are held re9[arty three a year. The finance com1r1 also meet three times a y8ar and the grant makiig committee mt twice a year. Day-tt>day running of the organisation is handled by Bedfordshirè and Luion CorM)unhy Found&ion. with major iterns of expendrlure being referred to the Trustees. Risk Managemenl The Trustees carry out an annual review of the Ttsks which the chaiit*s may face, have established systems and woc&lures to mitw risks Klontified and mnimise any potential imp¢t should any entified rk8ks materi&li5e.
Mrs Jane Carvs Trust (including linked charity Mrn Jane Carvs Almshouses) Report of the Tntea$ for the year ended 31st March 2025 {contlnued) ststemont of Trust8. RpOnsIbIlItIeS The ¢hanty are responsljle for preparing a trustees. annual reFKKt 8nd accounts in accordance with applteAtJle law and United Kingdom A()untIng Standards (United lQTrgdom Generawy A¢pted AntIng Pradice). The la4V applicable to Charities in England and Wales requires the charity Trustees to prepare accounts for each financial year which give a true and fair view of the stste of affairs of the charity and of inc¢)ming resources and application of resources for that period. In preparing those a¢¢ounts. the TnBte8s we required to: Sel&rt suitable policies and then them conslstenty; Observe the methods and princip5 in the Charities SORP; Make judgèments and estimates that are reasonable and prudent. Stale vthether appficable accounting standards have been followed. subject to Y material departures that musl be disclosed arKI explained in the cOUnts. and Prepare the ants on the going ¢¢)ncem basis Unl it is inapprwBte to assume that the charity continue in operation. The Trustees are responsible for keeping adeq1te accounting records that are sufficient to sh(xv and explain the Charitys transactions and disclose with reasonable accuw at any time the financial ySItion of the charity and to ensure that the accounts comply with the Charities Act 2011, Staternents of Recommended Practice and the wovisions of the trust deed. They are a150 responsib for safeguarding the assets of Ihe charity and herte kK taking reasonable steps for the prevention and detecti oflraud and other Kregularities. Underthe Charilw Act 2011, a5 the thartws Trustees. we certrfy that. So far as we are aware. there is no relevant audit infomwlion of which Ihe charity's Auditors are unaware., and As the Trustees of the charty, we have taken all the steps that we ought to have tsken in order to make oursefves of any relevant audit infonrAlion and to establish that the charity's auditor8 are wNare of that InrMatiOn. Approved by the Trustees on 2A November 2025 And signed on their behalf by.. Jeremy H M N Chair clo Bedfordshire and Luton Community F<wndation Enterprise House. Wresl P8rK Silsoe, Bedfordshire MK45 4HS
Indopondonl Audltorfs Report to the Trustees of PAKS Jane Cart's Trust (includlng linked charity Mrs Jane Carts Almshou50s) for the year ended 3181 Paarch 2025 Oplnlon We have audited the financial statements of Mrs Jane Cart's Tnjst for the year ended 31 March 2025 which comprK%e Ihe Statement of Finan(aal AcliNryttes, the Balance Sheet and notes to the financial statements. indud1r a summary of nificant ac£ounting poliiies. The fnancial reporting fr8mework that has been appli in their preparatton is apicable law and United Kingdom Accounting Standards, includiThJ Financi81 Reporting StsThYard 102 The Financial Reporting Standard applicable in the UK a1 Republlc of Ireland (United ngdoM Generalty Accepled Accounting Practi1. In our opinion the fina181 staterrrts: give a Iwe and fair view of the stste of the ¢trorWs affairs as at 31° March 2025 and of its incoming resources and application of resour. for the year then ended; have been property prepared in aCClenCe with United Kingdom Generally Aw)ted Accounting Pr%tice; 8rrtl have been prepared in 0[dOn with the requlremerts ofthe Charilies Aet 2011. Basls for opinlon We conduded our audit in actofdance with Intemational Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our reswnsibilities under thos8 standards are further dexribed in the Audrtorfs responsibilities for the audit of the financbal statements StI)n of our rep(xL We are independenl of the charity in accordance with the ethical wuirwents that are relevant to our audit ofthe finan¢ial statements in the UK, Including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibililies in ac[dCe with these requirements. Ilve believe that the audit eVKIen we have obtained is Sulflent and appropriate to provide a basis for our opinion. Concluslons relatlng to golng concern In auditing the fcIal statem, we have ¢onduded that the trustees, use oflhe go9 conwn basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perfonned, we have not KJentif(ed any material uncertainties relating to events or conditit)ns that. indivhluauy or collectwety, may cast significant lkwbt on the charity's ability to continue as a going concern for a pwityj of at least 12 mnths from when the fYwKial statoments are authorised for issue. Our responsibilities and thè responsibifrties of the twstees with rpect to going cOnn are described in the retevant sections of this reporL Other inforniation The other infomation comprrAs the infomMtiffi included in the trustees. annual report, other than Ihe financH sLgtements and our auditor's report thereon. The tnjstees are responsible for the other information. Our opinion on the financial statements dcEs cover the th infomiation and, except to the extent otheThvise expliciuy stated in our report, we do not express any fom of assurance conclusion thereon. Our responsibilty is to read the other informthTr and. in doing so, consider whether the other Infomiation is MateFlY inconsistent with the financ1 statements, or kntsWge obtained in the audit or otkwwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to detemiine whether there gives rise to a material mssstatement in the financial staternents themselves. If, basgs on the worf( we have performed, we conclude that there is a m*erial mi55tatsrnent of tlis (ther information, we are required to report that fact. Wa have Aothing to report kn thls regard.
Independent Audltorfs Report to the Truskn of Mvs Jane Carvs Trust lincluding Ilnked charity Jane Carvs Almshouses) for the yoar ended 318t fylarch 2025 (cortlnued) Opinions on other matters prescrfbed by Iho Charltlos (accounts and Reports) Rogulations 2008 In our opinion, based the wwk undertaken in the ¢CMffse ofthe audit: the Informat given in the trustees, rewL preped for the purpose5 of charity l•¥. for the financial year for whic the finala1 ststements are prepared is consistent with the financlal statements" and the trustees. pOrt has t) prepared in aCCorCe with appli¢ai4e legal requirements. Matters on whlch we are required to report by exceptlon In the light ofthe kw{je •KI £detsnd1rt9 ofthe company and its envirornnenl obtaiied in the course of the aLKlit, we have not iden11d materi81 misslatements in the trustees, report. We have nothing to report in respect ofthe following matters in relation to which the Charities {accounts and Reports) RegatiOnS 2LM)8 requires us to report to you if. in our opinion: the infomiation given vi th8 financial statements is irTh)nsisient in any ffrial respeL with the trustees, rert or adequate and proper ac£ounting records have not been kept: or the financial statements are not in agreemert with the a0ting reccffds and retums., or we have not received all the infom)ation and explanations we require for our audit Responslbllilles of trustees As explained more fuBy in the trtjstees. responsibilitres slatement set out on page 7, the trustees are responsible for the Preparat of Ihe financial statements and for being satlsfied that they give a true and fair view. and for such Interro1 Control as the trustees detemine is necessary to enable the preparation of firwn¢i81 statements that are free from materia mrsst8temen( wl)ether due to fraud or error. In preparing the financial statements, the Iruslee$ are re5pon5UI e for assessing the chariws ability to continue as a going concem. disckjsing, as applicable, matters re]aied to going concern and using the going concem basis of accounting unless the Irust88s either intend to liquidate the charty or to cease operalions, or have no realith temative but to do so. Auditorfs responsibilities for tho audil of the financial Slatements Our objectives are to obtsin reasrmable aswran¢e ab)ut whth the fnancial statements as a whole are free from material rrsStatenHrt, whether due to fraud or errr)r, and to issue an auditoffs reFQrt that inclth Quf opinton. Reasonable assurance is a high level of assurance but is not a guarantee that an audit Conducted in accordance wilh ISAS (UK) will aways del a material misStatert when Ft exists. Misstatements can arise from fraud or error and are considered material if, indivKJualty or in the aggregate, could reasonatty be expected to infiuence the economic dl$lon8 of users taken on Ihe basis ot thes8 financial staternents. Irregularit8, induding fraud, are instances of non-compliance wlth laws and regulations. We design prctedures in line with our responsibilitles. outiird above, to detect material misstatements in respect of iffegularbtses. including fraud. Tho extent to vthich our procgjures are Capable of deling irregthalilies, is detailed bekwl.
Independent Auditofs Report to the Tntstees of Mrs Jane Cart's Trust {including linked charity Mrs Jane Carvs Almshouses) for tho year ended 314t March 2025 (continuad) The oxtent to which the audlt was consldered capablo of d•tocting irrngularities includlng fraud In identifying and assessing the risks of material misstateffEnt in resFd of iFregularities. inckxling fraud and n0n-cthThlan¢e with I?S and regulalions, we nSId8rj the fol1w1. The nature of Ihe industy and sector. control envinnment busiw pethance induding the design of the remuneration policies, k8y drivers for twstee remuneTh2tK>n, bonus levels and perfomiance twget&' r8sutt8 of our eTh4uiri88 of Managent about thelr own Identif8 and as8es8twtt of the risks of rwegularthes. any matters we identified hamng obtained reviewed the chariils dCMentatIOn of their 1[cleS and prctedures relating to: identifying. eval1ng and comptying law5 arKI regulation and wheUr they w aware of instances of nOrCoMplanCe. detecting and respondiro to the risks of fraud and whether they have knNIedge of any acttMI. suslwtsd or alleged frawj: the intemal contrc4s estab'$hed to Milate risks of fraud or noHomFlianco Vth laws 8nd regulations", the matters d¢cussed )ng the audit engagement team regarding how where fraud might owir in the financial statements aThJ potential indicators offraud. As a result of these twdures, we con5ideTed the opForbi and inc8ntrrfes that may exist within the organisation for fraud. In common with all audits under ISAS (UK). we are also required to perfm SpefiC prOc*de5 lo respond to the risk of management ovenide. We also obtaned an undetstanding of the legal arKI regulatory frameworks Ihat th8 charity operales in. focusing on provisions of those laws and regulations that had a direct effect on the determination of maerral amounts and disdosures in the financial ststements. The kèy taws and gUlationS we considered in this conlext included the UK Charities Act. In addition, we cOndered provisions of other IM and regulations that do not have a direct effect on the financial stat8ments but Complian v•th whith may be fundamental to the charity's abilty to operate or to avoid a material penalty. These included the Employment law. Audit rosponse to risks Identlfied To address the risk of fraud through maneMent bias and ovorrlde of contrc4s, we: perfonT an1 edureS to identlfy any Isu&l or unexpected relationshlps: tested joumal an1 to idenlfy unusu4 transactions: 10
Independent Auditofs Report to tho Trustots of Jane Carv$ Trust (includlng linked charity Mrs Jane Carvs Almshouses) the year ended 31st March 2025 (continued) aswsed whether judgents assumptions made in detemilning the accounllng estimates were indicative of pjtential lias: and investigd the rationale behiid syxficanl or unusual trans In response to the rBk of ifregularities and noTrcornpliance wth laws atxl re9uEations, we designed procedures which induded, but were not limited to.. agreeing financial statement disck)sures to underkying supporting dUMentatIC. reading the minules of meetings of those charged with govemance; and enquiring of management as to actual and prtential litsgation and claims. There are Inhent Iwmitalions in our 8udrt prK>cedures described above. The more removed that laws regulations are from financia transactims, the less likely it is that we would l)ecome aware of norkmplianCe. Auding stsndards also limit the audit procedures required to identfy nOnwQ)Mplian with laws arrfl regulations to enqumy of the directors and other management and the inspection of regulatory and legal Cnrresp0nden, rf any. MÉterial misstatements that arlse due to fraud can be harder to detect than those that arise frcrfn error as they may involve deliberate concealment or collusion. A further deseripti¢Jn of our responsibiliiies is availabk oft the Finan¢ial RewrtM)g Council's website at. vwM.frc.org.uklauditotsre$ponsibili¢ies. This description fomB part of our audit$ report Use of our report This report ts made solely lo the charity's trustees, as a body, acclanCe with Part 4 of the Charities (Accounts and Reports) ReguEations 2008. Our audit work has been undertaken so thal we might state to the charity's trustees those mattern we are required to state to them in an auditors rert for no other purp)se. To the fullest extent permilted by law. we do not accept or SuMe resFKV15ibilty to wryone other than the charty and the chantys Iwslees as a bc, for our audit work, forthis rekmxt. rx for the op#)ions we have f0Md. JJJ, HW Assoclates Umited Chartttred Accountsnts and statutory Auditors ev Portsnln House Portsnill Lane Hitch, HeTts. SG5 1DJ 11
Mrg Jano Carfs Trust (Includlng Ilnk•d charity Mrs Jane Carvs Almshouses Slatamont of Flnancial Activltles for the year •ndad 3111 March 2025 2024 Total Funds fund Total Fwd Mnb Catv Trust MYS Cart Akn8hou Mr8 J•n• Mrn Jan• Carf• TnAt Cart not• 3 Inwne from: Investment incf>me Dfvidends Interest Suiplusl{lossl on Sale ol investments Totsl Incom• Expendlturo on: Ra151ng Funds: Investsn8nt managementfee8 ChariLAe *ctivilio8: Grants to clergy and t1r dependants Grants to locd organ6sations Churth dock repairs Annual Semion Administrati¢)n and manag•ment'. Clerk'$ fee5 Governance c08ts- Autht Fee Legal and professional fees Insurance Miscellaneou5 Total expenditure 168,241 2.002 22,484 34 190,725 2,036 66 2QIO.692 416 {2561 170,309 22.518 192,827 200,852 Z812 {9) 3,416 160,405 160.405 166.722 12,902 2,824 1,671 13,157 26,059 2,824 1,671 37,992 17.381 4,300 47 264 1,202 200,996 5,184 1,300 22.565 5,600 47 21.606 4,660 3,818 403 1.196 239,813 1S)0 19,741 1.302 222,559 2,812 1990> Net gains cm investments 8.592 57,186 337,605 Nèt Incomel(Expendlture) 200 996 Total R¢Wm allrxated b) Inoome Not mov•mont in (160,780) 123,45n 160,780 23,457 55,311 8,643 (40,216) 3,716 27.454 298,644 Total ftm(ts broughtfoTh¥ard IstAprll 2024 5,026.132 729,758 693.912 88.527 6.537.329 6.238.685 5.080.443 738A01 653,696 92,243 6.564.783 6.537.329 31st Alareh 2025 12
Mrs Jane Carys TnBt (Includlng linked charlty Mr8 Jane Cart's AlMShose9 ) Balance Shoet 31Ji March 2025 Fixad As4•ts Investments 6 374 731 6 323 968 Curyent Assots Cash al bank 220.761 Llbllltl•: Creditors amounls fallirvj due Tthin one year N•t CuN•nt As••ts Not A880ts 6.564,783 6,537,329 Funds Mrs Jane Cart'3 Trust Mts Jane Cart's Almshouses 5,080,443 738,401 5.025,132 729,758 Re¥trlcted funths: Mrs Jane Carvs Almshoe¥ 92.243 88,527 Unr8strict•d Funds: Mr5 Jane Cart8 Tnjgt 893 912 8,564.783 6,537.329 proved by trE Trytee8 on 20th Novernber 2025 and signed on their behalf by.. MrJHMN um ) Trustees Wood 13
Mrs Jane Carvs Trust (includlng linked ¢haiity Mrs Jane Cart's Almshouses) Notes to tho Accounts for the yaar ended 31at March 2025 1. Trust Inf0MtIOn Mrs Jane C8rt'8 Tnjst was prlndpalty founded by Deeds of Lease and Rele&se m&le by Mrs Jane Cart on the 22Tht and 2yd June 1736. It is currenlly regulated by a Scheme made ty the Charity Commissionws dated 10th February 1992.The governing documart of Mrs Jane Carys Almshouses is a Scheme made by the Charity Commissioners dated 201h June 2002. Both charilies are based at Bedfordshir8 and Luton Communty Foundation. EntsrFXiS6 H(se, Wrest Park. Si15LY, Bedft)rdshire, 2. AcGounting policios Basls of prnparallon The accouTts have been prepared under th8 historical cost basis except for the modifKations to a fair value basis for investment propty and investments as 8fied in the accounting poIleS bdow. The financial statements have t*en prepared in aordanCe with Ihe Slatem8nt of Recommended Pr&tice Acwunting and Rewling by Charittes preparing their accounts in accordance with the Financial Reporting Standard 8pplio8ble in the UK and Republlc of Ireland {FRS 102) leffe¢tlue 1st Januwy 2019) (as amended by Update Bulletin 1 and 2 in O¢lober 2018> and the Charities Act 2011. The charity meets the defintli)n of a wtslic benefii entity under FRS 102. Assets and abIlitieS are initialty recognised at historical Cost unless othevwi5e stated in the relevant accounting polw note. b. Going concem The trustees are confideni that the charity Can continue to meet lis liablths as they fall due for the foreseeable future and that the accounts should bo prepared on a g(xng cCern basis. c. Accounting for linkad charlty The nked chartty Mrs Jane Carvs Alrnshouses has been trealed as 8 branch of the reporting charity Mrs Jane Carvs Trust. The accurnulated funds of Mrs Jane Carvs AJm$houses originalty constituted restricted funds within these aggregaied accounts of Mrs Jane Cart's Trust Tho trustees have established a total return pofw which includes Jane Cart's Almshouses and the base value of the restrirted fund on 31" March 2022 has been US as the initial irwestment value. The funds are now disclosed as pemianent end(y•mient. d. Fund accounti9 UnStriCted funds are avalable for use at the discretion of the Tnjstees in furtherance of the genera obj8Llives of the drIty and whith have not been designated for other purpc6es. Designaw funds are funds set aside for specific purposes by the trustees. Restricted funds are funds which are to be used in accordance with Sp restriction5 imposed by donots or %thich have been raised by the chaTty for particular purposes. The cost of raising admiixstering such funds are charged against the specific fund. Thi5 includes grant funds which ar& given for speufic puryx)ses. 14
Mrs Jane Cart's Trust (including linked charlty Mrs Jane Cart's Almshousos
Notes to the Accounts for the year ended 31 St March 2025
Endowffent fuNb are fijnds of capital vthich must be maintsined; the tnths have adopted a
total retum policy from 31" March 2022 viith the initral value and the unapplied total return
established at this date.
g. Income recognition
Income from Kwerty, investrnents arKI deposs are aCc
Mrs Jane Carvs Trust (including linked charity Mrs Jane Carvs Almshouses) Notss to the Accounts for the yr ended 31•t March 2025 (contlnued) Sl•lomont of Hnanclwl Activittes fortho y•ar gnd•d 31¥1 Mah 2024 EDdownwnt Fund• Unf••tsict•d RMtrf¢t•d 21124 Total Fund8 IArn Ja Mrd Jan• ¢arV¥ T1 Carfs Trust Almshouse Ilrn Jan• Cart's Carv8 Tnmt Incom• frnm: Dividends Interest L¢)ss on sale ofinvestrrnnts 178,299 382 256 22.393 34 20D,692 416 Total Iom• 178,425 22,427 200,852 Exp•ThMlurn on: Ralslng funds: Investment margeMrt fees 4211 (795) 3.416 Ch•ritabh activili•J: Grants Clergy & dependents Grants to local organisation$ 186.722 30,112 166,722 37.992 7,880 AdmlniBtraii¢)n and managgmgnt" Clth's fees Govemance costs- Audrtfee Legal and Professional fees Insurance MIlIaneOuS 17.285 3,728 3.818 403 1.097 4,321 932 21.606 4,660 3,818 403 1.196 Toial 8wndlrn 795 13.232 239 813 Net 98in8 on inve8trnents 277.537 60.[8 337,605 Not IoM• 1 (Exp•nditurnl 451751 Totsl retum alh)cated to Income 1154.672) (22,172) 154.672 22.172 Not movemgnt In fvnd5 297.079 8.940 Reconclllatlon of funds: Total fundts Ixwhtforward 1rtApril 2023 4,728,053 762.405 79,587 6.238.685 Total funds foThYaYd 314 March 2024 5.025.132 729,758 693,912 88.527 6,537.329 16
Jane Carvs Tnt lincluding lInk charity Mr8 Jane Cart's Almshouses) Notes to the Accounts for the yffir ended 3141 March 2025 (continued) Othèr Investrnonts {lknted) 2026 Volualion Income 2024 vatith) Inwme Sarasin arKI Partners Portlomo 6 374 731 192 827 6 323,968 200 852 Summwy Market Val at 1st April 2024 Management fees DESalS thJring the year Unreali¥ed Surplus on reVaa.0ft Markel value at 31 March 2025 6,323,968 (1.622) (4.601) 57.186 6 3T4 731 2025 2024 InveSthntS at 31st March 2025 comprEse: Equities Fixed intere$1 $Ur1118S Altematives 3.6TT.376 484,567 2 212 788 8,374 731 3.878,368 608.465 1837.135 6.323,968 Histori1 cost 6 $57,888 6.565 165 5. Crodltors: amounts fallng due wlthln y•¥T 2024 Accrua18 artd deferred 7.400 Anatysis pf n•t a¥s•ts bgl%w•n fund PeMiarn* Unrestrthd Funds Furb4 Investments Currenl assets Currerrt liabilibes 5.818.844 555,887 165,169 {68.350) 6.374.731 258,402 168,350) 93233 Net assets at 31st March 2025 5,818,844 93,233 652,706 6,564,783 17
Mrs Jane Carvs Tnt {Includlng Ilnked charlty Mrs Jane Cart's Almshousos) Notes to the Accounts for the year ended 3111t March 2025 (conts"nued) 7. Totsl return apwoach to IrNoslm8nt of mI0nnI endoTront Mrs Jane C¥is Tr1 Trust fc un&ed T<>tsl Retum trs Jane Carts Almshou#e$ Trust tor Unapplied Totsl Totd EndowTnent Retum I•IApril 2024 Grfi Component of the peFmanent endowment Unapplied total retum 5,258.017 720.378 5.978,395 12¥2,885} 9,380 (223.505) 5 258 017 720 378 5 754 890 Movgfflont for the year. Investment Return: DNidends ar Inleresl Investment return.. realised and unrealised galn8 and Ilossesl Le8s: Investment managemart costs Tot•1 Vnapplied tal turn allocated to Income In the reporting pwr¢)d Not mov•m•nts for th• y•ar S1 March 2025 Gfft component of the pemanent endowment Unapvlied toial return 170.243 22,518 192.761 48.680 8.592 57.252 (2,812) 990 (1,8221 216 091 1160.780) 123.457) {184.237) 55.311 8,843 63,954 5,258.017 720.378 5,978.395 (177,574) 18,023 {f 59,551) Total 58.017 720 378 18
AITS Jano Carfs Tt (Includlng Ilnked charlty Mrs Jam Cart'5 Almshou$) Notos to the Accounts for the year ended 31Ai March 2025 Iconllnued) 2026 2024 Indivithal gants Instltutlonal grarts Total grants 160,405 26.059 166,722 37.992 9. R8latsd p•ty transactlo None ofthe trlthes received ony remuneralion from the charity during the year (2024 £nl. C Gresham received (eimtrs8rnent ofeX[ses amng to £529.9012024: £NA) and J NewsLTh re1ve(l reimbursemenl of 6wses amounting to £120.48 (2024: £Nil> 19