Charlty regl8tralion number 212495 (England and Wales) JOHNSTON FAMILYTRUST- J ACCOUNT ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
JOHNSTON FAMILY TRUST-J ACCOUNT LEGAL AND ADMINISTRATIVE INFORMATION TNstees William Johnston Famity Company Limited Charlty numb8r 212495 Prlnclpal addrnss clo Port of Liv8rporA Building Pier Head Liverpool L31NW Independent examlner John Duffy BA IHonsl ATTTEP FCCA Ralhbone Trust Company rnIted Port of Llverpool Building Pler Head Llverpool L3 1NW L198HG Soli¢itOTS Brabners LLP Horton House Exchange Flags Liverpool L2 3YL Investment advlsors Ralhbones Investment Management Lld- RIM 30 Gresham Streel London EC2V 7QN
JOHNSTON FAMILY TRUST- J ACCOUNT CONTENTS Page Trustees, report Independent exarnin8tts report ststem8nt of finalleial activittes Bance sheet Notes to the flnanclal statements 6-12 Investment schedule Appendix
JOHNSTON FAMILY TRUST- J ACCOUNT TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 The trust88s present thelr annual report and financial st8t8mgnts forthe year ended 31 Decembef 2025. The financial statemènts have been prepared In accordance with th8 accounting pollcie5 Set out in note 2 to the financial slaternent5 and comply with the charitys Settlement Deed. the Charities Act 2011 and 'Aceounting and Reporting by Charities.. Slatem8nt of Recommended PmCt1 applicable to charibes preparing their accounts In accordance with the Financial Reporbng Standard applicable in the UK Republic ol Ireland IFRS 1021 las arnended for 8ccounling periLxJs commencing from 1 January 20161 Objedl¥es and activities The Charivs objects are to grant pensions to reliove poty In such a manner as the trustees 8hall think fft. All applications for grants should b8 rnade to the board of directors at the wlstered address tor th8ir consideration. The tFUStee5 have pald due regard lo guidance i&qwl by thg Charity Commission in deciding what actiwties thg charity should und8rtak8. Achlovèm•nts and pgrformanca FinancÉal re¥lew Ravlow of the actlvl¢lÈs of the Charfty: Tolal In)ming resources were £32.4461£44.951 In 20241. re81i58d gains £4,045 (gains £28.504 in 20241. with unrealised gains of £95.842 (gains of £487 in 20241. The costs o19eneraling funds was £20.8341£19,644 in 20241. Commitments to charitable donations lotalled £32,600 1£30,150 in 20241. This resulted in an overall positive movemenl in funds of £78,899 Ipositsve of £24,148 in 20241. Risk Managem•nt Trustees have adopted an Inveslment mandate which places a graater amphasts towards global equltSes wilh perf0mian measured on a total retum basis. Grants Payments were made io fifleen 9rantee5 during the year tolalling £32.600. Investm¢nl$ Most of the Trustees, Capitsl is invested on the Stock m8rket. Tho valuo of tme Trusts portfolio as at 310ecemb8r 2025 lotalled £1,295,465, an increase from £1.181,973 as al 31 Drnber 2024. The Trustees review the portfolio on a regular basis to dis¢us5 it5 perforrnance. Taxatlon Status The JohtTrston Family Trust, J Account is a registered charty and Its Incomè and actlvltSes allow 5t exemption from Corporation Tax, Income Tax, Capital Gains Tax or Inheritance Tax. The trustees have assessed the major fisks to which the charity 15 exposed. and are satisfied thal systems are in place to mitigate exposure to the major risks. structurn. gov•rnance and management Th8 trustees who seryed during Ihe year and up to the dale of Signatu of the flnanclal statement5 were- William Johnston Family Company Limited
JOHNSTON FAMILY TRUST- J ACCOUNT TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 The indNidu81s who were 1ClOTS ofTh8 William Johnston Famity Company Limited wwe.- Mr William Stewart Johnston Mr Basil James Stewart P8r50ns-Smlth Mr John Kendall Putt MrAlexander RichmorKI Mr Neil Andrew Mullins The Johnstr)n Family Trust limit8d J Account . the Wlllam Johnston Trust Fund is a registered charity of a Settlement Deed dated 14 October 1952. Its 9oveming body is The Williarn Johnston Family CnpanY Limited. New Trustees are elected by a rnajority of exoling Trustees. The Trustees ensure that they are operating within currenl guideliftes by discussing all Issues adslng as advised by the Charity Cornmlssion and Rathbones Trust Company Limit during Iheir meebThg¥. The Trustees meet annually to review pÈrforrnancÈ the general Ilst of charitable organisalions and any other matters arislng. Ml trust885 attend the meetings and play an actwe role In the administration of thè Trust. including r8se8rehing possible donges and wsiting charitles and events where applicable. The trustees, report was aF¥>roved by the Board of Trustees. W S Johnston Trustee Dated.. 19 March 2026
JOHNSTON FAMILY TRUST- J ACCOUNT INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF JOHNSTON FAMILY TRUST- J ACCOUNT I report to the trustees on my examination ol the frnanth81 staternents of Johftston Family Trust- J AUnt (the charilyl for the year 8nded 31 Dec8rnb8r 2025. Responslbllltl¢s and basls of report AS the Irusl8es of tha charity you ar8 rèsponsibl& for tha prepar8tKJn of the ffinandal statements in accordance witr the requirements of the Charities Act 2011. I report in respect of my examination of Ihe charity's finandal statements carried out under section 145 of the 2011 Act. In carying out my examination I have foll¢)wed all Ihe appliGable Dlrections given by the Charity Commission under secllon 14515llbl of the 2011 Act. Independent txamlnerfs statement Ytsur attention Is drawn to the facl that the Charity has prepared the financial staternenls in accordance with th8 relevant version of the Statement ol Recommended Pracbce applicable to charities preparing their financlal stalemenls In accordance with the Financial Reporbng Standard applicable in the UK and Republic of Ireland IFRS 1021 in preference to the Accounting and Reporting by Charities.. Statement ol Recommended Practice Issued on 1 April 2005 which is referred to in the extant regulations bul has now been withdrawn. l understand Ihal this has been done in order for the financial statements to provide a tnje and fair view in 3r£ordance with UK GeneraltyAcctpted Aeeounling Pract. I hav8 cornpleted rny examination. l eonfimi that no matters have come to my attention in connectson with the 8xamitTation givlng mè cause to believe that in any rnalerial respect.. accounting records were not kept in respecl of the charily as qUIred by section 130 of the Charities Act 2011. the financial staternenls do not accord with Ih05e records.. or the finanoal staternents dts not comply wth the applicable requ1Ments conceming the form and content of financial staternenls Sel out in the Charities (Accounls and Reports) Regulations 2008 other than any uirement that the financial 5ts1emenls gNe a true and fair view, whith 15 not a rnatter considered as part of an independent examination. I have no coneems and have come across no ofher matters in connection with the ex8rninats.on to %thich attenlit)n should be dr in this POrt in order to enable a proper underslanding ol the financial statements io be reached. John Duffy BAIHonslATh TEP FCCA Rathbones Trust Cornpany Limited Port of Liverpool Building Pier Head Liv8rpool L3 1NW Dated.. 19 March 2026
JOHNSTON FAMILY TRUST- J ACCOUNT STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2025 unrestr18 funds 2025 Tgtsl 2024 Nots$ Income from: Inve$bMents 32,446 44,951 endlture on: Raising fund5 9,647 8,776 Charitablo 3Ctwilies 43,787 41,018 Total resourcos oxpended 53,434 49,794 Net gainslllosse31 on inv8stmeftts 99.887 28,991 N•t movement In lunds 78,899 24,148 Fund balances at 1 January 2025 1,243,186 1.219,038 Fund balances at 31 Decembtr 2025 1,322,085 1.243.186 The statemtrnt of finalalactiVitl93 indud85 all gains and losses regnised in the year. The statement of financial activities indudes all gains and losses regniSed in the year. All income and expendilu derive from continuing activities.
JOHNSTON FAMILY TRUST- J ACCOUNT BALANCE SHEET AS AT 31 DECEMBER 2025 2025 2024 Notes Flxed assets Investments Current assets Debtors Cash at bank and in hand 13 1,295,465 1,181,973 12 723 35,477 68,113 36,200 68,113 Cr8ditor5- amounts falllng due wlthln one year 15 19,5801 16.9001 Net ujrrent assets 26.620 61,213 Total as58ts lèss current Ilabllltles 1,322,085 1.243,186 Income fund$ Unrestricted funds 1.322.085 1,243,186 1,322,085 1.243,186 The financi stat8m8nt5 wère approved by the Trustees on 19 Marth 2026 W S Johnslon Tru$tee
JOHNSTON FAMILY TRUST- J ACCOUNT BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2025 Crltical 8ccounting •stlmate$ andJudgements In the applicalton of Ihe eharty's accounting polides, the trustse5 are requlred to make judgements, estirnales and assumptions about the carryng amount of assets and liabilities (hat a not readily apparent from othèr Sour$. The estSmates and associatèd 3ssumptiofts are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underfying assumplions are reviewed on an ongoing basis. ReslOn$ to aUnting estimates are COgnised in the period in which the estimate is ViSed wher8 Ihe revision affects only thal perfod, or in th8 P8riod of the revislon and future periods where the revlsion affecls both current and fLrture periods. Accounting policles Charlty Infornia¢lon Johnston Family Trust- J Account is a registered charity registered th the Charity Commission in En9land and Wale5. 2.1 Accountlng Convention The financial slatemenls have been prePad in aOrdanC with the charrws govemlng document. thg Charities Act 2011, FRS 102'Th8 Financial Rewrting Standard applicable in the UK and RepubliG of Ireland. I"FRS 102.1 and the Charitie3 SORP "Accounting and Reporbng by Charities.. Statem&rFt ol Recommended Practice applicable to charities preparing their accounts in accordan with Ihe Financial R8POrting Standard applicable in the UK and Republic of Ireland IFRS 1021" leffeclive 1 January 20191. The charity is a Publi Benefil Entity as defined by FRS 102. The charfty has tsken advantago of the provislons In the SORP Igr chltieS not to prepare a Statement of Cash Flows. The financial stslements havè dèparted from the Charitses IArLounts and Reports) Regulations 2008 only lo the extent required to provide a true and fair view. This departure has involved follovJiTrg tre Staiement of Recommended Practice for chartlies applying FRS 102 rather than the version of the Statement of Recommended Pracli¢e whith 15 referred to in the Regulations but which has sinee been wlhdrawn. The financial stalernents are wepared in 5terfing, whith is the fvnCti0n currency ol the charity. Monetary amounts in these financial statern8nts 8r8 rounded to the nearest £. Th• finanual statements have been prepared under the historical cost convention. The princlpal acc£Juntsn9 policies adoptad are set out below. 2.2 Going coneèm Al the lime of approving the financlal statements, the trustees have a reasonable expectation that the charity has adequate $oUe$ to continu8 in operational existen¢e for the foreseeable future. Thus the trustees conb'nue lo adopt Ihe going concem bas¢s ol accounting in preparing the finan¢Aal statements. 2.3 Charltable fvnd$ Unrestricted fvnd5 are available lor ¢Jse at the disLTrtion of the trustees in furtherance of theiT ¢haritabl objectives. Restricted lunds are subject to 5pecÉfic ¢xJnditions by donors or grantors 8¥ to how they may be used. The purkx)$gs And usès of the reslricled funds 3r& 58t out in Iha not&s to the financial staiemgnts. Endgwmant funds are subject to Spgcrfic conditions by donors that the capital must be maintained by IF charily.
JOHNSTON FAMILY TRUST- J ACCOUNT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Accountlng poll¢l•s IContrnu•dl 2.4 Income Income Is recognlsed when the charity Is legally entttled to It after any p8rforrnan ndItk)nS have been rneL the amounts can be measured reliably, and it 15 probable that income will be rer£ived. C85h donafjons are recognised on receipt. other donations a fe¢ognised once the chanty has Eeen notified of the donation, unless performance condition5 require deferral ol Ihe amount. Income tax recoverable In relation io donations recei¥ed under GIftd or deeds ol (xJv8nant is re(x)gnised at the ts.me ol the donation. Legacies are recognised on recelpt or othefwise rf Ihg charity has been nolifled of an impending distribution. the amount 1$ known, and leIpt is expected. If the arnount is not known. the legacy is treated as a contingent asset. Exp8nd+ture is recognised once there is a legal or constructive obllgatlon to Iransler economic b8n8fit tu a third party, il is prob8ble that a transfer of economic benefits will b8 requirèd in settlement, and the amounl ol the obligation can be mgasured reliably. Expenditure is da8sifigd by activity. The costs of each activity 8re rnade up ol the total of direct costs and shared costs, including support costs involved in undertaking each actNity. Oirect Costs 8ttributabl8 to A singla adivity are alloc81ed direGlly to that a¢livity. Shared costs which conlribule lo more than one activity and support costs which are nol attributable lo a single a¢livity are apportioned belween those activie5 on a b3$is consistent with Ibe use of rgsources. Central staff costs are allocated on the basi5 01 lime spenl, an depreciation charges a allocated on the porbon or the as58t'S Use. 2.5 Flx¢d a$set investments Fixed asset investments are inittally measured at transaction price excluding transaclK)n costs. and are subsequenuy tneasured at fair value at each reFK)rting date. Changes in fair value are recognised in nel incomellexpenditurel for the y8ar. Transaction costs are expensed as incurred. 2.6 Cash and Cash equlvalents Cash and cash equivalent5 include cash In hand. deposits held at call w7th banks, tsther short-temi liquld investrnents Wlth original maturities of three rnonth5 or less. and bank overdraft5. Bank overdrats are shown wlthln borrowng3 in vjrrent Ikqbilltigs. 2.7 Flnanclal Instruments The charity has 81ected to apply the prowsions of Section 11 'B85ic Financk41 Instruments. and Section 12 'other Flnancial In5twments1$5U85' ol FRS 102 to all ol Its financial Instnjments. Financial instruments ara rocognlsed In the charitys balance 8heg1 wh8n tha chartty becomes party to the contr8Ctual provislons of th8 instrurnent. Finandal a$58ts and liabil1&S are offset. with the net arnounts presented in the financial statements, when there is a legally enforceable right to Sèt off the recognised amounts and there 18 an intention to settle on a net basi5 or to realise the asset and seiU8 the liability simultan•ously. 8aslc financial assets Basic fitlancial asset5, which indud& debtots and cash and bank balanc85, ar& initially measured at Iransactitsn prfce Includlng transaction costs and are subsequently carried at amortised cost using tre effeclfve interest method unless the arrangement constitutes a financing Iransaclion, where Ihe Iran58Ction 15 rneasured at the present value Of thè fuluro recelpts discounted at a mark8t rdta ol intarasl. Flnan¢ial assets classified as recelvable within one year are not amortrsed.
JOHNSTON FAMILYTRUST- J ACCOUNT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Accovnting policie8 (Continued) 88slc financlalliabllities Baslc ffnandal liabilities, Includlng credltors and bank loans are Inlually recognlsed at transactlon Pr1 sjnless the arrangement conslitules a financing transactn, where the debt instrument is measured at the present value of the luiure payrnents discounted at a matkel rate of inlere8L FinanrAal liabilities dassified as payable within one year afe not amoitsed. D8bt in5tNmènts are 5ubsequ8nUy carrfèd at amortisèd cost. usÈrvJ th8 8ff8ctiv8 intgr85t r3te rnelhDg. Trade credltors are obligatlons lo pay for goods or sorvlces that have been a¢quId In the ordlnary course of operalions from suppliers. Amounts payable are classified as Cunt liabilities il payment is due within one year or 18S5. If nol. Ihey are pres8ntEd as non-current liabilitie5. Trade cr8ditors ar8 rOgniSed initially at transaction price 8nd subsequenuy measured at amortised cost using the effective Inte$t method. rewnttion of fJnanci8lliabAllties Financial li8bilitses are d8recognl58é when th& ch8rity'$ contractual obligations expire or are discharged or cancelled. Income trom investments Unrestrfcted Unrestrlcted fvnds fundg 2025 2024 Income from lisied investments Other income 32.087 359 44.035 916 32.446 44,951 Exp8nditur• on ch*rltabl• aetmtlès Unrnstricted UmStricted funds funds 2025 2024 Direct costs Grant funding of actiwties (see note 71 32,600 30.150 Share of support and governance costs15ee note 111 Governance 11,187 10.B68 43.787 41,018 Analysls by fund Unrestricted funds 43,787 41.018
JOHNSTON FAMILY TRUST- J ACCOUNT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Raising funds Unrestricted Unrestrictsd lund# funds 2025 2024 Rathtx)nes investrnent management fees 9.647 8,399 9,647 8.399 Trustees B J S Patsons-srnith and J K Putt have been engaged by the trustees under the terms of a Personal serv1rs Contracl to provide administrative 5UPPOrt in connection with th8 grant rnaking pror5s for the charily. The William Johnston Family Company mitd is a Trusteg gf the Charity. No payrnenls for professional services were received by the company during the year. Donallons made durlng the year 2025 2024 Mrs jIey Ms J Ander50n Ms C M Blyih6 Mrs H 8ollon Mrs P Brodie Mrs E Clarke Mr5 M E Hulm8-Dyrnond Miss J King Mrs B Lewis Mrs G M Oliv8r Ms P Paton Miss C Rlchold Mrg V Saundefs Mrs C Taylor Mrs K Thwailes Mrs R Thoma5 2.200 1.500 1.500 3,000 1.000 2.500 3,600 2,000 1.700 2,700 3,600 1,700 2.000 1,500 2,6DO 1,800 2,500 3.400 1.700 1,500 3.SSO 3,400 1.600 800 1.500 1.700 1.500 2,400 2,300 32.600 30.150
JOHNSTON FAMILY TRUST- J ACCOUNT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Employ8 The average monthly nurnber of ernployees during th8 year was.. 2025 Number 2024 Number Total There were no employees whose annual remuft8Talion was more Ihan £60.000. Gains and lossès on Inve$tm¢nts Unr8strfet#d Unrostrlct•d funds funds 2025 2024 Gainslllosses) arising on.. Revaluation of investrnents Sale of investments 95,842 4.045 487 28,504 99,887 28.991 10 Taxallon Th8 charity is exernpt from taxation on its activities because its income Is applgd for caritable purp059¥. 11 Support ¢osts Support Governance costs Costs 2025 2024 SeNce Ctsnlracls SeCtaria1 andAccountancy fees Trustee expenses Independent Examination teo Bank charges 2.900 7,590 128 450 72 2,goo 7.590 128 450 72 2.800 7,350 129 450 70 Legal and prolesslonal 47 47 69 11,187 11.187 10,868 Analysed beeen Chafitable activities 11,187 11,187 10.868 10-
JOHNSTON FAMILY TRUST- J ACCOUNT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 12 Debtors 2025 2024 Amounts falling due within one yèar. Other debtors 723 13 Ftxed asset investments Listod Invèstments Cost orvaluatlon At 1 January 2025 Additions Valuation chang88 Dlsposals 1,181,973 262.184 95.770 1244,4621 At 31 December 2025 1,295.465 Carylng amount Al 31 Decembèr2025 1,295,465 At 31 December 2024 1.181.973 14 Unrestricted funds The unrestricted funds of the charfty comprige lh8 unoxpended balances ol donations and grants which a not subject to 5peEific conditions by donors and grantors as lo how they may be used. These include designated fund5 which have been set aside out ol unr&stricted funds by the trustee5 for SPerIC purposes. At1 January 202S Incoming resL)urces R•$ources txpended Gain5 and losses At31 December 2025 General funds 1,243,186 32,446 153,4341 99.887 1.322,085 Pr•vlous y•ar. At 1 January 2024 Ineomlng resources Resour¢g9 ¢xpendod Galns and Ios58S At31 D•comber 2024 Gènèral funds 1.219,038 44,951 149.7941 2B,991 1.243,186
JOHNSTON FAMILY TRUST-J ACCOUNT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 IS Credltors.. amounts falllng dut within one 2025 2024 Stockbroker managamant fee5 Secretarial and accounting f8 Unwe58n18d Grants 2.340 5,440 1,800 5,200 1.700 9.580 6,900 16 Related party nsactIonS The TTUStees have Consided personal or other Interesls in whlch as a re5uIi of a declslon made wh8re an individual may benefit financially or otheiSe, either diredly or indirectly. In order to comply with their duties. the trustees confirm the person affected dces nol take part in any discussions relating to the issue concemed oth&r than to darffy facts. 12-