ST JAMES TRUST 2023- 2024 Incorporating Ihe Allclent Trowbridge Parish Charities Benefactors.. Robett. Pinchin, Maria Waldron, Ricliai"d Bissie. John Clark Reb,. Charily Nc). ?0.?9O2 ST JAMES TRUST Trustees Annual Report 2024 Legal and Administrative Services Charty Name Charty Commission Registered No. Financial Year commenang Financial Year ending Charity Address St James Trust 203902 01.04.2023 31.03.2024 25 St Johns Cres￿nt. Trowbridge. Wilts. BA14 9EZ Description of the Trust Governing Document-The Charity Commission Stheme of 4 January 2002 Objects of the Charity- To relieve persons who are resident5 of Trowbridge and six surrounding villages who are in conditions of need, hardship, or distress. Relief may be given in the form of grants of money, paying for goods. services, or facilities. or making grants to other persons or bodies who provide these services. Professlonal Advlsors Bankers Santander UK plc, 2 Triton Square, London, NWI 3AN CCLA Investment Management. Senator House. 85 Queen Victoria Street, London, EC4V 4ET Solicitors BLB, 5 Roundstone Street, Trowbridge. BA14 9HD Stockbrokers Wilf Blake of Quilter Cheviot, of Senator House, 85 Queen Vlctoria Street. London, EC4V 4AB Financlal Admsor Andrew Motely of Motley Wealth Management of 12 Church Street. Tetbury* Glos. GL8 8iG Land Agent Robert Quartley FRICS, Quartley Surveyors, The Coach House, IA Clarendon Road, Trowbridge, Wilts. BA14 7BR Independent Examiner Jahanzab Arshad, FCGI, Easy Accounts and Tax Ltd, A5COrt Court. Whitehorse Business Park, Trowbridge, Wilts. BA14 OXA Trnstees and Governance The first St James Tru5tee5 were appointed on the S February 2002. Under the terms of the scheme, the Rertor of St James Church is a trustee by virtue of his office. One trustee is nominated by the PCC of St James and two by the Town Council. Up to three trustees can be co-opted. On appointment, a trustee serves for a period of four years. Usually, they visit applicants and learn more about the people in need in our local community. but at this time a telephone call has been more appropriate but we hope to make vistts in person very soon. Current Trustees Mrs Ros Histed Reverend Jake Eggertsen Mr Richard Westsvood (Chairman) Miss Jennifer Payne Isecretaryl Mrs Clair Matthews Mr David Cavill Mr Stewart Palmen (St James) 1st James) (Co-opted) {Co-optedl (Co-opted) (Town Council) (Town Councill Susan Jane Burton resigned on the IT July 2023 and aair Matthews was co-opted in. Activities and Achlevements Applicants can apply for grants from the l January to the closing date on 15 March each year. In 2023, at the Civic Service on the 23, July £35,010 was issued in grants. Thevaluation of theTrust Funds as 31 Marth 2024 amounted to£l,300,181.00. induding a valuation of land owned by the Trust of £300,000 as of l May 201& At the moment, the sale of the land to the developers is in process and is nearing its final stages. Since the formation of the Trust in 1996. £1,000.000 have been given to charFties and organisations working in the Trowbridge area. Policies Reserves Policy The Trust holds a fund in our Santander Account in case of any emergency which may arise during the year. We hold enough within our investments to ride out current investment drops due to government policies or banking sertor scares on the stock exchange. Grant MGTking Policy As there are many estsblished organisations in the area helping those in need and new groups being formed. the Trustees made the decision to give funds to groups and not to individuals. Funding from statutory bodies is being severely cut back and curtai15 the help that can be given, and groups are relying even more on charitable trusts for funding such as the Trust. Investment Selection Policy The Trust was formed bythe amalgamation of sever31 old charities which had distributed bread, coal and blankets to the poor of the town. Initial funds have been boosted by the sale of land for development and a new Trust was formed 1996, with funds being managed by Charles Stanley & Co Ltd to handle the portfolio. They were instructed to obtain a good balance between income for distribution under the terms of the Trust, while allowing for capital growth to ensure that the Trust could fulfil its role in future years. The firni acted in an advi50ry capaaty only and all decisions were taken by the Trustees. We are now estsblished WFth Quilter Cheviot who are now managing our fund. Administration Update The grant application procedure has worked well for a number of years and the Trustees have a very good over-view of the various charFties in the area of benefit. Our application form is available online via our website- stjamestrust.org. As we come to the end of this financial year. considering the financial outlook and world events, we believe the Trust is in a strong financial position. We have financial advisors to manage our funds and we are in the pro￿55 of Selling the fields forthe benefrt of the Trust and future recipients of grants. Declaration and Signature I declare. in my capacity of charity trustees, that-_ The Trustees have approved the Report and the attached Accounts and have airthorised me to sign it on their behalf. Signed:_ Full Name= Richard Jonathan Westwood Date: o-ol-toLS. CHARITY COMMISSION FOR ENGLAND AND WALES Independent examinerfs report on the accounts Section A Independent Examiner's Report Report to the trusteesl membors of ST JAMES TRUST On accounts for the year ended 31" March.2024 Charity no lif any) 203902 Set out on pages AGwunts are included as separate document on page 3. I report to the trustees on my examination of the accounts of the a￿ve harity ('the Trust.) for the year ended 3110312024 Responsibilities and basis of report As the charity's trustees, you are responsible for the preparation of Ihe accounts in accordance with the requirements of the Charities Art 2011 ("the Acf.). I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 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 l am qualified to undertake the examination by being a qualffied member of examiner's statement ACCA (Association of Certified Accountants). I have completed my examination. I confirm that no material matters have come to my attention in connection wtth the examination. I have no concems 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 understsnding of the accounts lo be reached. . Please delete the words in the brackets if they do not apply. Slgned: Date: 0910112025 Name: Jahanzab Arshad Relevant professional qualification{s) or body (rf any): ACCA Address: Ground Floor, Ascot Court, Whitehorse Business Park. Trowbrtdge, BA14 OXE IER Section B Disclosure Only complete if the examiner needs lo highlight material matters of concem (see CC32, Independent examination of charity accounts: directions and guidance for examiners)- Give here brief detalls of any items that the examiner wtshes to disclose. There is no material poirrt or governan￿ issue has b&en identified to report here. IER St James Trust Registered Charity No. 203902 Financial Year Ending 31 March 2024 Santander Buslness Account No: 43618668 Balance BIF COIF Deposit Fund for Grants Quilter Cheviot Dividends CCLA Diwdends COIF Investment Interest 24.385.93 6,460.00 34.820.18 272.76 268.78 Grants Ecclesiastical Insurance 34,510.00 620.48 Balance CIF 31,077.17 66.207.65 66,207.65 COIF Chaiity Deposit Fund Balance BIF 013rles Stanley Dividends Interest 27,991.84 Transfer for Grants 5.000.00 1,166.11 29,157.95 Balance CIF 24,157.95 29.157.95 The Trust has a Permanent Endowment Fund Valuation Quilter theviot CCLA Charity Deposit FurKI CCLACOIF Income Units Santander Business Account The Fieldsvaluation I,000.0￿.00 24,157.95 20.310.1)0 24,386. 500,000.00 L568.853.95