REGISTERED CHARITY NUMBER: 214486 REPOAT OF THE TRUSTEES ANO U14AUDITEO FINANCIAL STATeMEpirs FOR THE YEAR ENDED 310ECEMBER 2024 FOR JOHN FEENEY CHARITABLE TRUST I W Hinks LLP Chartered Accountants 19 Hlghlield Road Edgbaston Birmin8ham West Midlands BIS 3BH JOHN FEENEY CHARITABLE TRUST CONTENTS OF THE FINANCIAL ￿ATEmENTs FOR THE YEAR ENDED 31 DECEMBER 2024 Page Report of th• Trust••S I to 3 Independ•nt Examlner's Report statement of FlnancSal ArtI￿tI B&lan¢e Sheet Not•s to th• FSn•n¢l•l Statements 7 to 14 JOHN FEENEY CHARITABLE TRUST REPORT OFTHETRU5Te FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present their report with the financial statement5 of the charity for the year ended 31 December 2024. The trustees have 8dopted the provlsions of Accountlng ènd Reporting by Charltles.. Statement of Recornmended Prattice applicable to charfties preparlng their account5 in accordanie wSth the Financlal Reportln8 Standard appllcable In the UK and Republic of Ireland IFRS 102) (effective l January 20191. REFERENCE AND ADMINISTRATIVE D￿Al ReAlstered Charlty numb•r 214486 Prlnclp81 addrejs The Old Store5 Broms8rove Road Clent Stourbrldge West Midlands DY9 9QP Phlllp Davld Holyman Kate Organ Delrdre Anna Flgue5redo Zellna Garland-Rowan Amarno Inal Anthony DavSd Jackson Geoffrey Mlchael Whittall Oakley Glyn15 Powell Lucy Vlctorla Reld John RSchard Lloyd Smlth Lateesha Johnson Ruth Thompson Matthew James Freeman Chalr r*sl8ned 17 May 2024 . appointed 17 May 2024 . appointed 17 May 2024 appolnted 17 May 2024 Independent Examlner J W Hink5 LLP 19 Hlghfleld Road Ed8baston 81rm5ngham B15 38H ankers HSBC Bank PIC 130 New Street Birmin8ham DY9 9QP IntKStment Managers EFG Harris Allday 5th Floor 103 Colmore Row Birmingham 83 3AG Website address www.feen rust. Admlnbtrator Katie Banks Page I JOHN FEENEY CHARITABLE TRUST REPORT OF THE TRUSTEE5 FOR THE YEAR ENDED 31 DECEMBER 2024 mucTURE. GOVERNANCE AND MANAGEMENT Governing document The charrty15 controlled by St5 governin8 document, a deed of trust and tonstitute5 an unincorporated charity. Synopsb of Wlll under the terms of hls wlll, John Feeneyi vkno dled on 16 December 1905, dlrerted that 9% of hls reslduary estate was to be invested and the income arisin8 therelrom to be appointedto ihe benefitof any oneor moreolthe publlc charitles In the Clty of Birmln8ham or for the prornotion and cultivation of art In the Crty of BlrmSngham or for the acqulsltlon and maintenance of parks. recreation 8founds and open spaces in or near the city. No part of such income should be applied to purposes which could possibly be considered as polltical or denorninatlonal. Trust•e ￿lectIOn Method The power to appolnt and remove Trustee5 Is contalned wlthSn Sectlon 36 of the Trustee Act 1925. Mana8ement olth• Trust All M￿terS of pollcy and mana8ement are dètermlned by the Trustee5 who meet annually and at such other times as clrcumstances require. There are separate committees set up to deal wlth Investment and financial matters, commlssions and grants. The Trustees are advised on Investment mattèrs bytheTrust's Investment managers EFG Harrls Allday, who manage the Investments on a dlscretlonary basls. There Is no mlnlmum or maxlmum members of Trustees. The Chair is responsible for the induction of any new Trustee whlch Involves awareness of a Trustee's responsibllities, the govemlThB document. adrnini5trative procedures and the hlstory and 8eneTal approach of the CharFty. A new Trustee wlll receive a copy of the previous year'5 Trustees Annual Report and Accounts. Rlgk m•n¥gement The Trustees have a duty to Identlfy and revlew the rlsks to whlch the charSty15 exposed and to ensure appropriate controls are in place to provlde reasonable assurance a8alnst fraud and erTOr. The Tiustees are 5atisfled that adequate systems are In place to detect and mlnSmlse the main stfare8ic. business and operational r5sks which the Charlty may fate. OBIEcnvES AND ACTIVITIES ObJe¢tlves and a5ms The objectlves are 5ummarlsed below under'synopsls of wiii,. The Trustees have con51dered ihe Charlty Commission's 8uldance on publlc beneflt. The Charlty furthers Its objective5 for public beneflt by makin8 8rants of inry>me to varlous charitable Instltutlons and fellow5h5p5 for Indlvlduals In accordan¢e wfjth the wlll. ACHIEVÉMENT AND PERFORMANCE The Trust makes annual grant5 In supportof projects and events in Blrmln8ham which enrfjch the art5. herita8e and open spaces. The Charlty has a long history of 5UPPOrtin8 the creation ol new works. prerniered BSrmingham before 8oln8 on to reach audlences across the country and beyond. At the start of the new mSllennium the John Feeney Trust widened its commlsslonln6 polic¥ to SUPPOrt choirs, opera, the C850'5 Youth Orchestra and the 8irmingham Royal Ballet, widenlng Its scope even further. The Trust now supports new works created for public perfomiance, exhibition or publication in Blmlngham. In any form. In 2024 the Trust awarded £91.19012023 £93,845) In general 8rants to 5UPPQrt the arts, herltage and open spaces and funded cornmissions of new work. Page 2 JI￿N FEENEY aiARITAOiE TRVST REPORTOF THE TRUSTEES FOR THE YEAR ENDED31 DECEMbÉk 2024 ACHievEMENT AND PERFORW4NCE. R•ser¥•s pollry The Trust has a Tesei¥es pol* that15 revl*Jed •nnu•lty. Ihe Trust needs a $ufficbent levd of free re5eryes Ideflned as the genttal unrestrfrted fund) to meet all 8Trnt m*kln8 expenses. A transfer Ls made to the Designated Comrnlsslon Fund (see below) for the followln8year. As at 31 December 2024 the genefal unrestrlcted fund amountrd to £131.565 12023 £147,442) Dwllnatsd Cornmlsslon Fund The Desl8nited Commi551on Fund represents Inwrnethat has been commltted to Projects whlch. In thelr own rl8ht, are Si8nlflcant to the cultural Ilfe of Nrn}1n8￿ffl. These projeds fflay rqqulre sta8ed payments over several years neces51tstingthe reientlon of fvnds. pproved ￿Order of the bo¥d of tru5tee5 on 16 202S and signed on11s behalf ￿. PD Holyman- Chalr Pa8e 3 INDEPENDENT EKAMINER'S REPORT TOTHE TRUSTEES OF JOHN FEENEY CHARITABLE TRUST Independent emaminees report to the trusteès of John Feeney Charltabl• Tru I report to the charity tru5tee5 on my examination of the accounts of john Feeney Charltable Trust (the Trust) for the year ended 31 December 2024. Responslbllit*5 ahd bath of report As the charity trustees ol the Tfust you are re5ponslble for the preparation of the accounts in accordance with the requirements ol the Charltles Act 20111 the Art'l. I report In respect of my examination of the Tru5t'5 accounts carried out under Section 145 of the Act and in carrying out my exarnination I have followed all applicable Directlons given by the Chèrlty Commlssion under Settlon 14515llbl of the Act. Independent e￿MIne¢S stat•ment I have completed my exarnlnatlon. I confirm that no rnaterlal matters have corneto my attentlon In connettlon wSth the examination giving rne cause to believethat In any materlal respect.. accounting records were not kept In respeci of the Trust as r￿uIred by Section 130 of the Aci,. or the account5 do not accofd wlth those records,. or the accounts do not comply wlth the applScable requlrements toncernln8 the forrn and content of account5 sei out in the CharStles (Accounts and Reportsl Regulatlons 2008 other than any requlremènt thatthe accounts give true and lalr view whlch is not 3 matter cons5dered as part of an Independent exarninatlon. I have no concerns and have comé atross no other matters In connectloTr wlth the ex4minatlon to whi¢h attentlon should be drawn In ihls report In order to enable a proper understanding of the accounts to be reached. Peter Smith FCA, FCCA I W Hlnks LLP Chartered Accountants 19 Hl8hfield Road Edgba5ton Blrmlngham West Mldland5 B15 3BH Date.. 16 May 2025 Page 4 JOHN FEENEY CHARfrABLETRUST STATEMENT OF FINANUAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 2024 Total funds 2023 Total funds Unre5trlcted funds Endowment fund Notes INCOME AND ENDOWMENTS FROM Donatlons and le8acie5 Grant returned Investment Income 20,477 3.750 85.575 20,477 3.750 85.575 250 82,177 Total 109.802 109.802 82,427 EXPENDITURE ON Chlrttable artfvltl•s General Grants payable Commisslons Feeney Fellowshlps Support costs 48,430 33,(#)O 9.760 14.412 48A30 33,000 9.760 25.053 47.985 41.000 4.860 20,702 10.641 Totsl 105.602 10.641 116.243 114,547 NEf INCOMEIIEXPENDITUREI BEFORE INVESTMENT GAINSIILOSSESI 110,6411 16A411 132.1201 Net galnslllossesl on Inve5tment5 5.752 NET INCOMEIIEXPENDITUAEI 4200 14.8891 16891 137,5241 RECONaLIATION OF FUNDS Tatsl fvnds broutht for4¥¥rd 177.192 Iffi77.928 I￿55,110 1,892,644 TOTAL FUNDS CARRIED FORWARD 181.392 1,673,039 1,854.431 1,855,120 The notes forrn part of these flnanclal statements Page 5 JOIWI FEENEY CHARrrAbLETRiIST ALANCE 5HEEr 31 DECEMBER 2024 2024 TotAI 2023 Totsl fvnds Unresrrfct•d Ethrn•nt funds fund Notes FIXED ASSEIS Investments Investment propertv lJ51 320,OIXI &YSi,06Y 320,OOD 1.357,362 74067 IML067 1.677,362 CURRENT ASSEf5 Debtor5 Cash at bank L9Y2 187J72 ¥9n la7￿72 179,366 CRErxroRS Amounts fJllln8 due vAthln OM year io 14,6081 146011 NEfcuRAEIIT ASSEfs 191392 ￿971 183 364 TOTALAMEfs LESS CUIIRElff LIAWLMES 1,855,120 NEfASSETS I•IA92 1,673 039 1855 120 FVND5 Unre5trfctod funds Desknated Commltm•nts Fund (not• 31 Legacy Fund 12 147.442 29,750 29,600 70.227 18L392 177,192 EThJowment funds $77,928 YOTIL FUNDS 855,120 The Ilnan¢lal ststemenis were approved by the Board of Trustees and authorised for Issue on 16 May 2025 and ￿re s*ned on its behaw by: p.K( PD Hotyman AD Jack50n Trustet Th• not•5forrn part of these flnandal ststements Page 6 JOMN FEENEY CHARffABLE TRUST NOTES TO TNE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 BASIS OF PRÉPARING THE FINANCIAL STATEMENTS The flnancial 5taternents of the charSty, which 55 a public benefit entity under FRS 102. have been Prepared in accordanie with the Charltles SORP IFRS 1021 'Accounting and Reporting by Charities,, Statement of R￿0￿mended Prattlce appllcable to charities preparing their accounts in accordaThce with the FinancSal Reporting Standard èpplScable in the UK and RepublSc of Ireland IFRS 1021 (effective l January 20191.. Financial Reporting Standard 102 'The Flnancial Reportin8 Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The flnanclal statement5 have been prepared under the hlstorical c05t convention. with the exceptlon of Investmènts whlch are included at market value. INCOME All Sncome15 reco8ni5ed Sn the Statement of Financlal Activities once the charity has entStlernent to the funds, It Is probable that the Incorne wlll be received and the amount can be rneasured reliablv. EXPENDITURE Uabilities are recognised as expenditure as soon as there 15 3 legal Dr construrtive obllgatSon commbttSn8 the charliy to that expendlture, it Is probable that a transfer of Konomlc benefits wlll be required In settlement and the amount of tht obli8aiion can be rnea5ured rellably. Expenditure is accounted for on an accruals basls and has been classified under headin8S that a88re8ate all cost related tothec8tegory. Where costs cannot be directly aitrlbuted to particular heaéin85 they have been allocated to actSvltles on a basbs conslstent wlth the use of sources. Grant5 offered subject to condltions whlch have not been met at the year end date are noted as a comrnltment but not accrued as expenditure. INVESTMENT PROPERrY Investment property Is shown at most recent valuatlon. Any a88re8ate Surplus or delltit arlsln8 frorn changes In falr value 15 reco8nlsed In the Statement of Flnanclal Artlvltles. FIXED INVESTMENTS Inve5tment5 are reco8nised in5tlally at falr value whlch 15 normally the transactlon pr5ce excludlng transaction cost5. Sub5Èquèntly they are rneasured at falr value w5th chan8es reiognised as net 8ainsll1055esl on Investments in the SOFA if the share5 are publlcly traded or thelr falr value can otherwise be measured reliablv. Other investments are measured at cost Smpalfment. TAXATION The charlty Is exempt from tax on Its chaTltable actSvltles. FUND ACCOUNnNG Unrestricted fund5 can be used In accordance wlth the charitable obiectSve5 at the di5cretlon of the Tru5te¢s. Permanent endowments are those where the capltal 15 retained on a perrnanent bJ51s with the interest expended for the purpose specrfied by the donor. Further explanation ol the nature and purpose of each fund is included In the notes to the flnanclal statements. INVESTMENT INCOME 2024 2023 Rental income Interest on cash dep05i15 UK listed investment incorne 24,000 2￿29 58,746 85,575 22,(￿) 1,058 82,177 Page 7 continued... IOHN FEENEY CHARITABLÉTrUST NOTESTOTHE FINANCIAL sfATEMENTS. contlnued FOR THE YEAR ENDEO JI OECEMBER Z024 GRANTS. COMMISSIONS AND FELLOWSHIPS 2024 2023 Arts Sampad Castle Bromwlch Gardens Black VoitÈs Bl8 Brum Theatre In Education Company The Open Theatre Companv Vlvid Proje£is Persona Arts Ace Music and Dance Ralnbow Voice5 4,950 50lXI SMOO 2,000 5,000 1.500 5.¢JJO 4.800 5,000 The Peoples Orchestra Surge Forward Muslc and Arts CIC 5XIOO 20.000 Heriwe Art 360 Foundatlon Craftspace Natlonal Trust 8lrmln8harn Back to Backs Bahu Trust Elertrlt Cinema Flatpack Fea51bllhy Study 2,600 4.LK)O smo 4.900 17.4 6.600