Charity number: 207481
## **THE J G GRAVES CHARITABLE TRUST**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2022**
## **THE J G GRAVES CHARITABLE TRUST**
## CONTENTS
||Page|
|---|---|
|**Reference and administrative details of the charity, its Trustees and advisers**|1|
|**Trustees' report**|2 - 5|
|**Trustees' responsibilities statement**|6|
|**Independent examiner's report**|7|
|**Statement of financial activities**|8|
|**Balance sheet**|9|
|**Notes to the financial statements**|10 - 20|
## **THE J G GRAVES CHARITABLE TRUST**
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS _FOR THE YEAR ENDED 31 DECEMBER 2022_
|**Trustees**|A C Womack,Chair|
|---|---|
||J C Bramah|
||P M Clarkson|
||S Cotton(appointed 23 November 2022)|
||Dr D R Cullen|
||J Drayton|
||A T Graves|
||K Hayward(appointed 23 November 2022)|
||R H M Plews|
||Councillor P Price|
||G Richards(appointed 23 November 2022)|
||K Streets|
||S Tesfaye(appointed 23 November 2022)|
|**Charity registered number**
207481
**Secretary and principal**
**office**
Mrs J E Marshall
BHP LLP
2 Rutland Park
Sheffield
S10 2PD
**Website**
www.jggravescharitabletrust.co.uk
**Bankers**
Virgin Money
66 Fargate
Sheffield
S1 2HE
**Investment advisers**
Investec Wealth & Investment
Beech House
61 Napier Street
Sheffield
S11 8HA
**Independent examiner**
Miss H Jones ACA
Hart Shaw LLP
Europa Link
Sheffield Business Park
Sheffield
S9 1XU||
Page 1
## **THE J G GRAVES CHARITABLE TRUST**
## TRUSTEES' REPORT
_FOR THE YEAR ENDED 31 DECEMBER 2022_
The trustees present their annual report together with the financial statements of the charity for the year ended 31 December 2022.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019.
## _**Structure, governance and management**_
## **a. Governing document**
The J G Graves Charitable Trust is constituted under a Declaration of Trust dated 7 August 1930 and is a registered charity number 207481.
## **b. Trustees**
Trustees are appointed by the Board of Trustees except for three who are nominated as representative Trustees by Sheffield Town Trust, The Cutlers' Company in Hallamshire and Sheffield City Council.
The current trustees are listed in the reference and administrative information on page 1. All trustees give their time voluntarily and receive no benefit from the charity.
## **c. Induction and training**
New trustees are provided with information concerning the charity including copies of the governing document, the most recent trustees' report and accounts and minutes of recent meetings. Information relating to the governance and operation, grant making policies, investments and trustee duties and responsibilities is also provided.
Trustees are encouraged to attend external trustee training sessions that are freely available in the region.
## **d. Organisation**
The trustees meet quarterly to consider the work of the charity including grant making decisions. All decisions are then implemented via the secretary and her assistants.
The charity receives appeals for funding from areas throughout England. Those from outside Sheffield are declined except in exceptional circumstances. Certain appeals from within Sheffield are subject to further enquiry or a visit by a trustee. The majority of donations are made for capital projects though the trust does contribute to running costs. Grants are decided by the trustees at their quarterly meetings. Where a grant is awarded, confirmation that it has been applied for eligible purposes is sought from the recipient, through a grant monitoring process.
Page 2
## **THE J G GRAVES CHARITABLE TRUST**
TRUSTEES' REPORT (CONTINUED)
_FOR THE YEAR ENDED 31 DECEMBER 2022_
## **Structure, governance and management (continued)**
## **e. Risk management**
Attention is given regularly to the management of the assets of the charity which are held to enable it to carry out its charitable activities. Management of incoming and outgoing resources is considered at each meeting of trustees based on written summaries of financial transactions.
As a matter of good practice, the trustees are conscious of the need to consider risk.
The trustees have examined the major strategic and operational risks which the charity faces, which are recorded in a risk schedule and reviewed annually. They are satisfied there are adequate controls to safeguard the charity against such risks.
As part of the safeguards, the trustees engage professional investment managers who carry indemnity insurance and a professionally qualified secretary who carries professional indemnity insurance through her own practice.
## _**Objectives and activities**_
## **a. Objects and Grant Making Policies**
The objects of the Trust are to apply its income for the provision of parks, open spaces, libraries and art galleries, the advancement of education, the general benefit of the sick and poor and for such other charitable purposes as the trustees think fit.
The majority of grants are made to registered charities although other appropriately constituted groups may be assisted. Details of the objectives of the charity and the procedure to be followed in making applications are contained in various Directories of Grant Making Trusts and other similar information sources, both local and national. This information is also detailed on the trust’s website www.jggravescharitabletrust.co.uk. However, at the discretion of the trustees, all grant making is restricted to the beneficial area of Sheffield, as this is the area the trustees feel able to assess knowledgeably.
## **b. Public benefit**
The trustees have referred to the guidance on public benefit issued by the Charity Commission when reviewing the trust’s objectives and grant making policies. Details of how the charity has carried out its grant making activites for the public benefit are given in the section below.
Page 3
## **THE J G GRAVES CHARITABLE TRUST**
## TRUSTEES' REPORT (CONTINUED)
_FOR THE YEAR ENDED 31 DECEMBER 2022_
## _**Achievements and performance**_
## **a. Main achievements of the charity**
The charity has continued to meet its objectives and fulfil its public benefit requirements by making grants for charitable purposes. In making a decision on each individual appeal, the trustees place importance on benefiting as wide a range and as large a number of people as possible from a single grant. They also endeavour as far as possible to make grants where the funding will “really make a difference” rather than being lost in a larger pool of resources.
Grant monitoring forms are requested from recipients of grants detailing the use to which the grant has been put and these provide evidence of the benefit provided by the charity.
By making grants, the trust has furthered its charitable purposes for the public benefit.
Since the start of the COVID-19 pandemic the trustees have proactively sought out organisations where special one off grants would make a real difference. They have also been more flexible by, in some cases, making grants for core running costs and in other cases removing earlier imposed restrictions.
An analysis of grants made during the year is detailed in note 3.
## _**Financial review**_
## **a. Going concern**
Free reserves at 31 December 2022 including unrestricted fixed asset investments and after deducting the £2,000,000 exceptional and significant receipt detailed in the reserves policy are £1,032,799 (2021: £1,355,512).
The Trust has sufficient reserves to enable it to continue for the foreseeable future. Therefore the trustees believe it is appropriate for the financial statements to be prepared on the going concern basis.
## **b. Financial review**
The charity was established with an endowment fund which is invested in securities. The original endowment was received from the trust’s settlor. Three legacies and a windfall property realisation are regarded as capital in nature by the trustees who decided the best method of using these funds in furtherance of the trust’s objectives was to invest the funds and distribute the income generated.
Income from invested funds totalled £185,484 (2021: £178,255), an increase of £7,229 from the previous year. Charitable grants totalled £165,990 compared with £154,335 in the previous year. Support costs totalled £23,573 (2021: £19,234) and investment management fees were £25,282 (2021: £25,528). Net expenditure before net (losses)/gains on investments was £29,361 compared with £20,842 in the prior year. There were losses on investment assets of £588,516 compared with gains of £696,805 in the prior year. The net movement in funds for the year was a deficit of £617,877 (2021: surplus of £675,963). Total funds carried forward at 31 December 2022 were £5,860,329 (2021: £6,478,206) of which £2,827,530 (2021: £3,122,694) were endowment funds and £3,032,799 (2021: £3,355,512) were unrestricted funds.
This year there were 66 successful applications, compared with 73 in 2021. The trustees have continued to judge each appeal on its merits and make grants of amounts they consider appropriate in each case.
Page 4
## **THE J G GRAVES CHARITABLE TRUST**
## TRUSTEES' REPORT (CONTINUED)
_FOR THE YEAR ENDED 31 DECEMBER 2022_
## **Investment policy and performance**
The overall investment strategy is for a balance of income and capital growth in a medium risk environment.
The trustees’ powers of investment are subject to the Trustee Act 2000. There are no other restrictions on the charity’s powers to invest.
In line with general stock market trends, investment performance during the year showed a 9.7% decrease in value. In aggregate, the portfolio decreased by £613,798 to £5,690,455 at the year end.
At the year end the trust held approximately 98% (2021: 98%) in Equity Based Managed Funds (Legal and General Funds and various other UK and Overseas funds) with the remaining 2% (2021: 2%) held in cash. As a precaution against investment risk, all the investments are managed on a discretionary basis by professional investment managers.
The Trust’s investment performance is monitored against a benchmark on an annual basis. In the year to 31 December 2022, the performance of the investment portfolio was above the benchmark. The benchmark set was -7.07% on a total return basis. The actual performance was -6.07% on a total return basis.
## **Reserves policy**
It is the policy of the trustees to maintain unrestricted funds, which are the free reserves of the charity, at a level which would enable them to continue to make appropriate levels of donations to suitable applicants as the need arises, including major donations to exceptional projects.
In essence, all the available income after defraying necessary support and administrative expenses is available for distribution in accordance with the charitable objectives. This was broadly the case in 2022.
In years gone by, the Trust has been the beneficiary of certain exceptional and very significant receipts comprising three legacies and a windfall property realisation. These total approximately £2,000,000 and are held within unrestricted funds. At the time of their receipt, the Trustees took the view that the most beneficial way of utilising these funds was to invest them and for the income arising to enhance the Trust's capacity to make grants in accordance with its charitable objectives. This remains the Trustees' view. However, they remain very mindful that such funds remain available to fund significant grants to suitable major projects in pursuance of the Trust's charitable objectives and in furtherance of the public benefit. This they have done from time to time, most recently The J G Graves Woodland Centre in Ecclesall Woods in 2009.
## **Plans for the future**
The Trustees intend to continue the existing pattern of grant making in accordance with the objectives of the charity to reach needy organisations in the City of Sheffield.
Approved by order of the members of the board of trustees and signed on their behalf by:
## A C Womack
A C Womack (May 3, 2023 15:45 GMT+1)
## **Mrs A C Womack**
Date: May 3, 2023
Page 5
## **THE J G GRAVES CHARITABLE TRUST**
## STATEMENT OF TRUSTEES' RESPONSIBILITIES
_FOR THE YEAR ENDED 31 DECEMBER 2022_
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 & Wales requires the trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP 2019 (FRS 102);
- make judgements and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate 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.
Approved by order of the members of the board of trustees and signed on its behalf by:
## A C Womack
A C Womack (May 3, 2023 15:45 GMT+1)
## **Mrs A C Womack**
Chair Date: May 3, 2023
Page 6
## **THE J G GRAVES CHARITABLE TRUST**
## INDEPENDENT EXAMINER'S REPORT
_FOR THE YEAR ENDED 31 DECEMBER 2022_
## **Independent examiner's report to the trustees of The J G Graves Charitable Trust ('the charity')**
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2022.
## **Responsibilities and basis of report**
As the trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
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:
1. accounting records were not kept in respect of the charity as required by section 130 of the 2011 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 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.
## H Jones
Signed: H Jones (Sep 27, 2023 18:12 GMT+1) Dated: Sep 27, 2023
Miss H Jones ACA
Hart Shaw LLP Europa Link Sheffield Business Park Sheffield S9 1XU
Page 7
## **THE J G GRAVES CHARITABLE TRUST**
## STATEMENT OF FINANCIAL ACTIVITIES
_FOR THE YEAR ENDED 31 DECEMBER 2022_
|**Note**
**Income from:**
Investments
Bank interest
**Total income**
**Expenditure:**
Raising funds:
Investment management costs
Charitable activities:
Grants to institutions
3
Support costs
4
**Total expenditure**
**Net expenditure before net (losses)/gains**
**on investments**
Net (losses)/gains on investments
**Net (expenditure)/income**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2022**
**£**
**183,556**
**1,928**
**185,484**
**13,261**
**165,990**
**23,573**
**202,824**
**(17,340)**
**(305,373)**
**(322,713)**
**(322,713)**
**3,355,512**
**(322,713)**
**3,032,799**|**Endowment**
**funds**
**2022**
**£**
**-**
**-**
**-**
**12,021**
**-**
**-**
**12,021**
**(12,021)**
**(283,143)**
**(295,164)**
**(295,164)**
**3,122,694**
**(295,164)**
**2,827,530**|**Total**
**funds**
**2022**
**£**
**183,556**
**1,928**
**185,484**
**25,282**
**165,990**
**23,573**
**214,845**
**(29,361)**
**(588,516)**
**(617,877)**
**(617,877)**
**6,478,206**
**(617,877)**
**5,860,329**|Total
funds
2021
£
178,255
-
178,255
25,528
154,335
19,234
199,097
(20,842)
696,805
675,963
675,963
5,802,243
675,963
6,478,206|
|---|---|---|---|---|
The Statement of financial activities includes all gains and losses recognised in the year.
Page 8
## **THE J G GRAVES CHARITABLE TRUST**
## BALANCE SHEET
_AS AT 31 DECEMBER 2022_
|**Note**
**Fixed assets**
Investments
6
**Current assets**
Debtors
7
Cash at bank and in hand
Creditors: amounts falling due within one year
8
**Net current assets**
**Total assets less current liabilities**
**Total net assets**
**Charity funds**
Endowment funds
9
Unrestricted funds
9
**Total funds**|**48,015**
**130,499**
**178,514**
**(8,640)**|**2022**
**£**
**5,690,455**
**5,690,455**
**169,874**
**5,860,329**
**5,860,329**
**2,827,530**
**3,032,799**
**5,860,329**|55,733
123,930
179,663
(5,710)|2021
£
6,304,253|
|---|---|---|---|---|
|||||6,304,253
173,953|
|||||6,478,206|
||||||
|||||6,478,206|
|||||3,122,694
3,355,512|
||||||
|||||6,478,206|
The financial statements were approved and authorised for issue by the trustees and signed on their behalf by:
## A C Womack
A C Womack (May 3, 2023 15:45 GMT+1)
## **Mrs A C Womack**
Chair Date: May 3, 2023
The notes on pages 10 to 20 form part of these financial statements.
Page 9
## **THE J G GRAVES CHARITABLE TRUST**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 DECEMBER 2022_
## **1. General information**
The J G Graves Charitable Trust is an unincorporated charity. The address of the registered office is given in the charity reference and administrative details on page 1. The nature of the charity's operations and principal activity is grant-making activities. The J G Graves Charitable Trust meets the definition of a public benefit entity under FRS 102.
## **2. Accounting policies**
## _**2.1 Basis of preparation of financial statements**_
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019, the Charities Act 2011 and UK Generally Accepted Accounting Practice.
The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £1.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
## _**2.2 Investment income**_
Investment income is earned through holding assets for investment purposes. Investment income is recognised for the period in which the chairty is entitled to the receipt.
## _**2.3 Expenditure on raising funds and charitable activities**_
Expenditure is included on an accruals basis. Where applicable, it includes irrecoverable VAT.
Grants payable are charged in the year when the offer is conveyed to the recipient except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year-end are noted as a commitment, but not accrued as expenditure.
All governance and secretarial costs are akin to support costs under SORP (FRS102). All costs other than investment fees are therefore shown as support costs under charitable expenditure.
Expenditure on raising funds includes all expenditure incurred by the charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Page 10
## **THE J G GRAVES CHARITABLE TRUST**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 DECEMBER 2022_
## **2. Accounting policies (continued)**
## _**2.3 Expenditure on raising funds and charitable activities (continued)**_
Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.
## _**2.4 Investments**_
Quoted investments are included at closing market value at the balance sheet date. Any gain or loss on revaluation is recognised in ‘Net gains/(losses) on investments’ in the Statement of Financial Activities.
## _**2.5 Fund accounting**_
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Endowment funds represent those assets which must be held permanently by the charity. Income arising on the endowment fund can be used in accordance with the objects of the charity and is included as unrestricted income.
## _**2.6 Debtors**_
Prepayments are valued at the amount paid in advance.
## _**2.7 Cash at bank and in hand**_
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## _**2.8 Creditors and provisions**_
Creditors are recognised where the trust has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount.
Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
## _**2.9 Going concern**_
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
Page 11
## **THE J G GRAVES CHARITABLE TRUST**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 DECEMBER 2022_
## **3. Grants paid**
|ASSIST Sheffield
Bags of Taste
Ben's Centre
Big Issue in the North Trust
Bingham Park Community Group (Friends of the Porter Valley)
Bloom Sheffield
Boys & Girls Clubs of South Yorkshire
Burngreave Messenger Ltd
CADS South Yorkshire
Carousel Print Studio
Chilypep (The Childrens and Young People's Empowerment Project)
Croft House Settlement
Crosspool Juniors FC
Cruse Bereavement Care Sheffield
Darnall Wellbeing
De Hood Boxing Centre & Community Hub
Dore Village Society
Emmaus Sheffield
Endeavour Training Ltd
Family Voice C.I.C
FareShare South Yorkshire
Firth Park Methodist Church Entertainments Society
Firvale Community Hub
Friends of Chancet Woods
Friends of Ellesmere Park
Friends of Grenoside Steel Works
Friends of the City of Sheffield Youth Orchestra Ltd
Golddigger Trust
Golf In Society
Greaves House Farm Trust
Green City Action
Greentop Community Circus Centre
Grimesthorpe Family Centre
Grow
**_Balance c/fwd_**|**2022**
**£**
**-**
**-**
**3,000**
**-**
**-**
**-**
**3,000**
**3,000**
**-**
**2,000**
**2,000**
**-**
**3,000**
**-**
**-**
**-**
**-**
**2,500**
**-**
**2,300**
**3,000**
**2,000**
**1,650**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**1,500**
**28,950**|2021
£
2,000
1,500
3,000
3,500
3,000
1,500
-
-
2,000
2,000
-
5,000
-
3,000
1,500
1,500
3,000
-
2,000
-
-
-
3,000
2,700
1,500
3,000
2,000
2,000
2,000
2,000
3,000
2,000
3,000
1,500|
|---|---|---|
|||62,200|
Page 12
## **THE J G GRAVES CHARITABLE TRUST**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 DECEMBER 2022_
|**Grants paid (continued)**
**_Balance bfwd_**
Hope City Church
Hope English School
In2Change
Irise International
Lindley Educational Trust
Manor and Castle Development Trust
Manor Church and Community Project
Maya Productions
National Schizophrenia Fellowship
Nomad Opening Doors
Norfolk Park Bowling Club
Oughtibridge PCC
Paces Sheffield
Park Community Action
Pitsmoor Adventure Playground
Project 6
Project Foodhall C.I.C
Read Easy Sheffield
Roundabout Ltd
Ruskin Mill Trust
S1 Artspace
Sage Greenfingers Gardening Group
SAYIT
Share Psychotherapy
Sharewear Clothing Scheme
Sheffield City Archives
Sheffield Family Holiday Fund
Sheffield Flourish
Sheffield Hospitals Charity
Sheffield Maternity Cooperative
Sheffield Mencap and Gateway
Sheffield Royal Society for the Blind
Sheffield Vulcan Rotary Club
Sheffield Wildlife Trust
Sheffield Women's Aid
Sheffield Womens Counselling And Therapy Services
**_Balance c/fwd_**|**28,950**
**-**
**-**
**2,500**
**2,000**
**2,000**
**-**
**3,000**
**1,500**
**-**
**-**
**1,500**
**3,000**
**-**
**-**
**3,000**
**2,000**
**2,000**
**1,500**
**2,000**
**-**
**2,000**
**2,000**
**2,000**
**2,500**
**-**
**-**
**3,000**
**2,000**
**-**
**-**
**4,000**
**-**
**3,000**
**5,000**
**-**
**3,000**
**83,450**|62,200
2,000
1,500
-
-
-
2,500
-
-
2,500
3,000
-
-
2,000
1,500
-
-
-
-
2,000
3,000
-
-
-
-
3,000
2,500
3,000
-
3,000
4,500
3,000
5,000
-
-
2,000
3,000|
|---|---|---|
|||111,200|
Page 13
## **THE J G GRAVES CHARITABLE TRUST**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 DECEMBER 2022_
|**Grants paid (continued)**
**_Balance b/fwd_**
Side By Side
South Yorkshire Biodiversity Research group
St John's Owlerton
St Luke's Hospice
St Mary's Church
St Thomas Crookes
St Wilfrid's Centre (2 grants in 2021)
Stannington Brass Band
Stradbroke Ravens
Sunday Centre
SVP Sheffield Furniture Store
SwimYourSwim Ltd
Target Housing Ltd
The Archer Project
The Arts Catalyst
The Broomhall Centre
The Dilys Guite Players Ltd
The Ethel Trust
The Foundry
The Montgomery Theatre and Arts Centre
The Sheaf and Porter River Trust
The Sheffield Botanical Gardens Trust
The Stan Shaw Memorial Appeal
Upper Wincobank Chapel / The Charity of Mary Ann Rawson for Wincobank
School (2 grants in 2022)
Wesley Hall Methodist Church
Whiteley Woods Outdoor Activity Centre
YAFA Charity
Yorkshire Artpace Society
13 (2021: 15) other grants of £1,000 or less (see below)|**83,450**
**2,000**
**23,150**
**2,000**
**2,500**
**-**
**-**
**-**
**-**
**-**
**2,000**
**5,000**
**-**
**-**
**3,000**
**-**
**2,000**
**-**
**2,000**
**3,000**
**2,200**
**-**
**3,000**
**2,090**
**7,000**
**1,250**
**3,000**
**3,000**
**3,000**
**154,640**
**11,350**
**165,990**|111,200
-
-
2,000
-
2,500
1,750
4,150
2,000
1,500
-
5,000
2,250
1,000
-
1,500
-
3,000
2,000
-
-
2,500
-
-
-
-
-
-
-|
|---|---|---|
|||142,350
11,985|
|||154,335|
Page 14
## **THE J G GRAVES CHARITABLE TRUST**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 DECEMBER 2022_
## **Grants paid (continued)**
All donations are made to organisations. None are made to or for the benefit of individuals.
The following organisations received grants of £1,000 or less:
Aspergers Children and Carers Together British Tinnitus Association Church Army Friends of Charnock Recreation Ground High Green in Bloom Hype Dance Company Kaleido Arts for Wellbeing C.I.C Lowedges Community Festival Peace in the Park Sheffield Methodist Circuit Shelter National Campaign for Homeless People Ltd The DATIC Trust Westwood 2015 Limited
## **4. Analysis of expenditure by activities**
|Charitable activities
Total 2021|**Grants paid**
**(note 3)**
**2022**
**£**
165,990
154,335|**Support costs**
**2022**
**£**
23,573
19,234|**Total**
**funds**
**2022**
**£**
**189,563**
173,569|Total
funds
2021
£
173,569|
|---|---|---|---|---|
||||||
## **Analysis of support costs**
|Support costs for grant making
Governance costs (note 5)
Total 2021|**2022**
**£**
12,402
11,171
23,573
19,234|**Total**
**funds**
**2022**
**£**
**12,402**
**11,171**
**23,573**
19,234|Total
funds
2021
£
11,700
7,534|
|---|---|---|---|
||||19,234|
|||||
Page 15
## **THE J G GRAVES CHARITABLE TRUST**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 DECEMBER 2022_
## **5. Governance costs**
|Independent examiner's remuneration
Secretarial fees
Professional fees
Other costs|**2022**
**£**
**1,310**
**6,678**
**3,163**
**20**
**11,171**|2021
£
1,200
6,300
-
34
7,534|
|---|---|---|
The independent examiner's remuneration comprises an independent examiner's fee of £1,310 (2021: £1,200).
## **6. Investments**
|Market value at 1 January
Additions
Net disposal proceeds
Revaluation
Market value at 31 December
Investment cash|**2022**
**£**
**6,154,807**
**203,764**
**(205,629)**
**(588,516)**
**5,564,426**
**126,029**
**5,690,455**|2021
£
5,515,333
61,872
(119,203)
696,805
6,154,807
149,446
6,304,253|
|---|---|---|
The historical cost of the fixed asset investments is £4,608,098 (2021: £4,634,815) including cash of £126,029 (2021: £149,446). The historical cost is split £2,381,210 (2021: £2,406,358) of unrestricted funds and £2,226,888 (2021: £2,228,457) of endowment funds.
The percentages of the total portfolio value represented by individual investments are as follows:
||**Endowment**|**Unrestricted**|
|---|---|---|
||**Funds**|**Funds**|
|Legal & General Equitrack Fund|**11.35%**|**8.01%**|
Page 16
## **THE J G GRAVES CHARITABLE TRUST**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 DECEMBER 2022_
## **7. Debtors**
|Prepayments and accrued income
**Creditors: Amounts falling due within one year**
Accruals|**2022**
**£**
**48,015**
**48,015**
**2022**
**£**
**8,640**|2021
£
55,733|
|---|---|---|
||||
|||55,733|
|||2021
£
5,710|
## **8. Creditors: Amounts falling due within one year**
Page 17
## **THE J G GRAVES CHARITABLE TRUST**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 DECEMBER 2022_
## **9. Statement of funds**
**Statement of funds - current year**
|**_Unrestricted funds_**
General Funds
**_Endowment funds_**
Endowment Fund
**_Total of funds_**
**Statement of funds - prior year**
**_Unrestricted funds_**
General Funds
**_Endowment funds_**
Endowment Fund
**_Total of funds_**|**Balance at 1**
**January 2022**
**£**
**3,355,512**
**3,122,694**
**6,478,206**
Balance at
1 January
2021
£
3,019,439
2,782,804
5,802,243|**Income**
**£**
**185,484**
**-**
**185,484**
Income
£
178,255
-
178,255|**Expenditure**
**£**
**(202,824)**
**(12,021)**
**(214,845)**
Expenditure
£
(186,959)
(12,138)
(199,097)|**Gains/**
**(Losses)**
**£**
**(305,373)**
**(283,143)**
**(588,516)**
Gains/
(Losses)
£
344,777
352,028
696,805|**Balance at 31**
**December 2022**
**£**
**3,032,799**|
|---|---|---|---|---|---|
||||||**2,827,530**|
||||||**5,860,329**|
||||||Balance at
31 December
2021
£
3,355,512|
||||||3,122,694|
||||||6,478,206|
Page 18
## **THE J G GRAVES CHARITABLE TRUST**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 DECEMBER 2022_
## **10. Analysis of net assets between funds**
## **Analysis of net assets between funds - current year**
|Fixed asset investments
Current assets
Creditors due within one year
**_Total_**|**Unrestricted**
**funds**
**2022**
**£**
2,862,925
178,514
(8,640)
3,032,799|**Endowment**
**funds**
**2022**
**£**
2,827,530
-
-
2,827,530|**Total**
**funds**
**2022**
**£**
**5,690,455**
**178,514**
**(8,640)**
**5,860,329**|
|---|---|---|---|
## **Analysis of net assets between funds - prior year**
|Fixed asset investments
Current assets
Creditors due within one year
**_Total_**|Unrestricted
funds
2021
£
3,181,559
179,663
(5,710)
3,355,512|Endowment
funds
2021
£
3,122,694
-
-
3,122,694|Total
funds
2021
£
6,304,253
179,663
(5,710)
6,478,206|
|---|---|---|---|
## **11. Commitments**
At 31 December 2022 the charity had commitments to make future payments of:
|Not later than 1 year
Later than 1 year and not later than 5 years|**2022**
**£**
**48,350**
**13,500**
**61,850**|2021
£
17,500
11,000|
|---|---|---|
|||28,500|
Page 19
## **THE J G GRAVES CHARITABLE TRUST**
## NOTES TO THE FINANCIAL STATEMENTS
_FOR THE YEAR ENDED 31 DECEMBER 2022_
## **12. Taxation**
The charity is considered to pass the tests set out in Sch. 6, para. 1 of the Finance Act 2010 and therefore it meets the definition of a charity for UK income tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Income Tax Act 2007, Part 10 s521 – s537 or s. 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
## **13. Trustees' remuneration and expenses**
During the year, no trustees received any remuneration or other benefits (2021 - £NIL).
During the year ended 31 December 2022, expenses totalling £20 were reimbursed or paid directly to 1 trustee for refreshments during the interviews of new trustees (2021 - £35 for flowers).
## **14. Related party transactions**
Ms K Streets, a Trustee, has a mutual interest in St Wilfrid's Centre, Pitsmoor Adventure Playground and The Stan Shaw Memorial Appeal. During the year no grants were awarded to St Wilfrid's Centre (2021: £4,150), there were grants of £3,000 awarded to Pitsmoor Adventure Playground (2021: £nil) and £2,090 awarded to The Stan Shaw Memorial Appeal (2021: £nil).
Mr R H M Plews, a Trustee, was a trustee of Target Housing. During the year no grants were awarded to Target Housing (2021: £1,000).
Councillor Peter Price, a Trustee, is a Trustee of Grimesthorpe Family Centre and Upper Wincobank Chapel. During the year no grants were awarded to Grimesthorpe Family Centre (2021: £3,000) and Upper Wincobank Chapel received grants of £7,000 (2021: £nil).
Mr S Cotton, a new Trustee appointed in the year, is in a key management position at Grow. During the year Grow received a grant of £1,500 (2021: £1,500).
Mrs K Hayward, another new Trustee appointed in the year, is in a key management position at Lindley Educational Trust. During the year Lindley Educational Trust received a grant of £2,000 (2021: £nil).
Page 20