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2025-01-31-accounts

Charity Registration No. 206321

THE JEREMY & JOHN SACHER CHARITABLE TRUST

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

THE JEREMY & JOHN SACHER CHARITABLE TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

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Trustees Mr Jeremy Michael Sacher
Hon Mrs Rosalind Eleanor Cameron Sacher
Mrs Elisabeth Jane Sacher
Chloe Emma Dale-Jones
Charity number 206321
Registered office 62 Harts Grove,
Woodford
London
IG8 0BN
Accountant Ragini Majithia
62 Harts Grove,
Woodford
London
IG8 0BN
Bankers HSBC Bank Plc
90 Baker Street
London
W1U 6AX
Investment advisors JM Finn
4 Coleman Street
London
EC2R 5TA
Rothschild & Co
St Julian's Court
St Julian's Avenue
St Peter Port
Guernsey
GYI 3BP
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THE JEREMY & JOHN SACHER CHARITABLE TRUST

CONTENTS

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Page
Trustees' report 1 - 2
Statement of trustees' responsibilities 3
Independent examiner's report 4
Statement of financial activities 5
Balance sheet 6
Notes to the financial statements 7 - 12
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THE JEREMY & JOHN SACHER CHARITABLE TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 JANUARY 2025

The trustees present their report and financial statements for the year ended 31 January 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Deed of Trust, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective from 1 January 2019)”.

Objectives and activities

The charity's objective, as set out in the charity's Deed of Trust, is to pay or apply capital and income to or for such charitable purposes or charitable institutions in the United Kingdom or elsewhere as the trustees see fit in their absolute discretion.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

During the year the Trust generated income resources of £71,461 (2024: £50,491) which enabled the charity to make 22 grants.

Public benefit

The trustees have complied with their duty in section 17 of the Charities Act 2011 to have due regard to guidance published by the Charity Commission.

Financial review

During the year ended 31 January 2025, investment income was received from the portfolios managed by JM Finn and Rothschild & Co of £68,607 (2024: £47,741).

As shown in the statement of financial activities, the net gain on investments amounted to £863,822 (2024: net gain of £347,129).

Reserves Policy

It is the policy of the charity to maintain unrestricted funds (free reserves) at a level which, on investment, generates sufficient return to meet annual expenditure and cover management and administration costs and to respond to emergency applications for grants which arise from time to time.

The unrestricted funds of the charity as at 31 January 2025 amounted to £7,321,978 (2024: £6,687,575).

Grant Making Policy

The trustees' grant making policy is generally to make donations to registered charitable organisations (not individuals) which support a wide range of causes.

The trustees reviewed and accepted grant applications during the year under review. During the year the Trust made 22 (2024: 24) grants totalling £271,600 (2024: £318,450).

Risk

The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks.

Investment Policy

The trustees review the performance of the portfolio on a regular basis.

THE JEREMY & JOHN SACHER CHARITABLE TRUST TRUSTEES, REPORT (cO￿nNUED} FOR THE YEAR ENDED 31 JANUARY2025 5tructure18ry4ema￿aThd manèEemert TheJeremy &Jahn Sathercharitable fru51 Is regi5tererIwtht￿ ChafityCommissioTre15 INts2C63211 and co￿trtUt￿d by Deedof Trust dated 13 November 1957. as amende(I by rewlutlolls dated 4January 2017 and 31 Ortober 2019. Thetwsteeswho tveddu¥in8the year and uptothed ofsignature ofthellnandal stat￿ents were.. Mrjeremy m￿hael Sacher Hon Mrs R05alind Eleanorca￿￿TQns￿cher Mrs Eli5abethJane &cher Chloe Emma Dale-Jors The trustees have the ￿wertoapP0lnt new twstees. and anyorE trusteecan retire * anytime they see fft_ The minimum numbÈr oftrustees istwo. Thetrustees meettoa55e5S 8TrTrtappII￿tX)ItSa￿d io r￿le￿Tr￿a¢cept indwirlualgrantapplications durin8 the year. On behal fthe Board of Trustees Mrjeremymlthael Sath Trustee D3ted_. /92<

THE JEREMY & JOHN SACHER CHARITABLE TRUST

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 JANUARY 2025

The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (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.

THE JEREMY & JOHN SACHER CHARITABLE TRUST

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF THE JEREMY & JOHN SACHER CHARITABLE TRUST

I report to the trustees on my examination of the financial statements of The Jeremy & John Sacher Charitable Trust (the charity) for the year ended 31 January 2025.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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 financial statements to be reached.

Ragini Majithia RVM Accountants Accountant 62 Harts Grove Woodford London IG8 0BN

Dated: .3rd November 2025

THE JEREMY & JOHN SACHER CHARITABLE TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 JANUARY 2025

Unrestricted
funds
2025
Notes
£
Income from:
Donations and legacies
3
-
Investments
4
68,607
Total income
68,607
Expenditure on:
Raising funds
5
25,419
Charitable activities
6
272,606
Total resources expended
298,025
Net gains/(losses) on
investments
11
863,822
Net outgoing resources
634,404
Other recognised gains and losses
Other gains or losses
12
-
Net movement in funds
634,404
Fund balances at 1 February
2024
6,687,574
Fund balances at 31
January 2025
7,321,978		 Restricted
funds
2025
£
2,854
-
2,854
-
2,854
2,854
-
-
-
-
-
-		 Total
Unrestricted
funds
Restricted
funds
2025
2024
2024
£
£
£
2,854
-
2,750
68,607
47,741
-
71,461
47,741
2,750
25,419
22,702
-
275,460
319,560
2,750
300,879
342,262
2,750
863,822
347,129
-
634,404
52,608
-
-
-
-
634,404
52,608
-
6,687,574
6,634,965
-
7,321,978
6,687,575
-		 Total
2024
£
2,750
47,741
50,491
22,702
322,310
345,012
347,129
52,608
-
52,608
6,634,965
6,687,575

THE JEREMY & JOHN SACHER CHARITABLE TRUST BALANCE SHEEr ASAf31 JANUAR Y2025 2014 Fixed assets Investrnents Currentwets Debtors Cè5h 3t bank and in hand 7.26L828 6.654,895 63,951 63951 13SAII c￿dit￿5.. am4xntsfa11i￿ duewithin 13,8LM)I Net current assets fA).tsi 32, Total assets lessarrrentlabNibe5 7.32L979 6.687,575 Income fvrxls ijnrestrlcted fvnds-generol 7.32L979 6.687,575 7.32L979 6,687.575 Thefin ncialstaternentswereapproved bytheTnt5teeson._-.-.- Truaee

THE JEREMY & JOHN SACHER CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

1 Accounting policies

Charity information

The Jeremy & John Sacher Charitable Trust is a registered charity. The charity meets the definition of a public benefit entity under FRS102.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's Deed of Trust, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (effective from 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operation for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used.

1.4 Incoming resources

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Investment income received net is stated gross with the relevant tax deducted included under 'cost of raising funds'.

1.5 Resources expended

Liabilities are recognised as expenditure once there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis. All expenses, including support costs and governance costs, are allocated to the charitable activity in the statement of financial activities.

Costs of raising funds are those costs incurred in managing the charity's investment portfolio.

Governance costs relate to expenditure incurred in dealing with donations and administration and compliance with constitutional and statutory requirements.

THE JEREMY & JOHN SACHER CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2025

1 Accounting policies

(Continued)

Grants payable comprise donations directly related to the objects of the charity.

Grants payable are charged in the year when the offer is conveyed to the recipient. Grants offered subject to conditions are recognised in the period those conditions are met, prior to this they are noted as a commitment but not accrued as expenditure.

Irrecoverable VAT is charged against the expenditure heading for which it was incurred.

1.6 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The trustees do not believe there to be judgements or estimates that would be considered critical to the financial statements.

3 Donations and legacies

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|||| |---|---|---| |Restricted|Restricted| |funds|funds| |2025|2024| |£|£| |Donations and gifts|2,854|2,750|

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THE JEREMY & JOHN SACHER CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2025

4 Investments

Interest and dividends
Interest receivable		 Unrestricted
funds
Unrestricted
funds
2025
£
2024
£
68,529
47,741
77
68,607
47,741

5 Raising funds

Investment management Unrestricted
funds
2025
£
25,419		 Unrestricted
funds
2024
£
22,702
25,419 22,702

6 Charitable activities

Support cost
Governance
cost
2025
2025
£
£
Grant funding of activities (see
note 7)
268,746
-
Share of governance costs (see
note 8)
-
3,860
268,746
3,860
Analysis by fund
Unrestricted funds - general
268,746
3,860
Restricted funds
2,854
-
271,600
3,860		 Total
Support cost
Governance
cost
2025
2024
2024
£
£
£
268,746
315,700
-
3,860
-
3,860
272,606
315,700
3,860
272,606
315,700
3,860
2,854
2,750
-
275,460
322,310
3,860		 Total
2024
£
315,700
3,860
319,560
319,560
2,750
326,170

THE JEREMY & JOHN SACHER CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2025

Grants to institutions:
Grants payable in
Year
Support costs
Governance
costs
£
Accountancy fees
3,800
Bank charges
60
3,860
Analysed between
Charitable activities
3,860		 Support cost
Support cost
2025
£
2024
£
268,746
315,700
268,746
315,700
2025
Governance
costs
2024
£
£
£
3,800
3,800
3,800
60
60
60
3,860
3,860
3,860
3,860
3,860
3,860

Governance costs includes payments for accountancy fees of £3,800 (2024: £3,800)

THE JEREMY & JOHN SACHER CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2025

9 Trustees

None of the trustees (or any persons connected with them) received any reimbursed expenses, remuneration or benefits from the charity during the current or prior year.

10 Employees

There were no employees during the current or prior year.

11 Net gains/(losses) on investments

Revaluation of investments
Gain/(loss) on sale of investments		 Unrestricted
funds
general
2025
£
Unrestricted
funds
general
2024
£
808,179
329,137
55,643
17,992
863,822
347,129
Other gains or losses
Foreign exchange (losses)/gains 2025
2024
£
£
-
-

12 Other gains or losses

THE JEREMY & JOHN SACHER CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2025

13
Fixed asset investments
Cost or valuation
Listed Cash in portfolio
investments
£
At 1 February 2024
6,592,078 62,817
Additions
418,516
(418,516)
Valuation changes
808,179
-
Cash withdrawn -
(300,000)
Dividend income
-
68,529
Investment manager fees
-
(25,419)
Gain on sale of investments
55,643
-
Disposals
(665,043)
665,043
At 31 January 2024
7,209,373 52,455
Carrying amount
At 31 January 2025
7,209,373 52,455
At 31 January 2024
6,592,078
62,817
14
Debtors
2025
Amounts falling due within one year:
£
Other debtors
-
15
Creditors: amounts falling due within one year
2025
£
Accruals
3,800		 Total
£
6,654,895
-
808,179
(300,000)
68,529
(25,419)
55,643
-
7,261,828
7,261,828
6,654,895
2024
£
-
2024
£
3,800

16 Related party transactions

There were no disclosable related party transactions during the current or prior year.