Johnson Charitable Trust Accounts for the year ended 5 April 2021 Registered Chdrily Numbcr.. 216974
Johnson Charitable Trust Contents Page Tru.4tees and advisors Trustces, report Sidtement of Irusiec%' re5ponsibililies Indcpcndeni auditor's repon 6-10 Siaiemeni of findncial activities Fknlance Sheet 12 Note% io the account
Johnson Charitable Trust Trustees and advisors Tru.51ees Y M Monaghan E Wade M Green T Morris D Roberts Principal address Abbo1% Park Monks Wdy Preston Brook Che%hire W A7 .3GH Auditors BWM Ch<irtered Accounlanls & Sidlulory Auditors Castle Chanibers 41 C.asile Sireei . verpool L2 9SH Investment managers Schroder Investmeni Management Ltd 31 Gre%h<im Sireel L()ndon EC2V 7QA Bankers National Weslminsier Bank PLC 2-8 Church Sireel Liverpool LI 3BG Sanlander PLC 998 Lkan%gaic .ManLliesier M.3 4HH
Johnson Charitable Trust Tru5tees' report for the year ended 5 April 2021 The tru.%tcc% dre pleased to submit Ihe annual report and audited accounts for Ihc ye ended 5th April 2021. The account.8 hdN'e been prepared in accordance with the accounting policies sei out on pagt 13 and compl). with Il)e Lliarily'% Tiu%l Deed, the Charities Aci 2011 and 'AcLounting and Reporting by chl[le4.. Sialeinenl of RecoInniended Prdclice dppliLdhle lo charitie% preparing Ihcii aLcoiint.4 in accordance wilh the FinanLldl Rcporiing Standai'd appliLable in the UK and Republic of Ireland (FRS 102) (as amcndcd for accounting periods comtncncinoT from l January 2016)" Thc account% have departed from Ihe Chdiitie% (Accounts and Reports) Reguldtions 2(H)8 only lo the exleni required 10 providc a true and fair view,. This depdi1uFe hd% Involed following the Siaieiiieni of RLQ()mmended Pr<iclice for chariiiLS applying FRS 102 rather than the version of Ihe Stalement of Reconiinended PrdLlice whiLh is referred lo in the Regulaiions bui 'hICh ha.5 since been withdrawn. Constitution of the Trust The Trust is a registered charily dnd is governed by ils Trust Deed ddtcd 12 December 1927 and %ubscqucntly dmended by various scheme% approN'ed by the Charily Comtni.4410ncr.%. It opci.ales under the naIYie Johnson Charitable Trust. Objects of the Trust A% detailed in the Trust Deed, Ihe Tru.%t'% objective is to assist employcc5, ex- eniployees of Johnson Seri'ice Gioup PLC. I'the Company") and Iheir widows or dependanls who dre in need. The Trust, in pursuance of Ihi% objcclive, niakes grants lo or in ie%peLt of such person.s and for charitable purposes conncctcd with the needs ol such person%. The Iru.4tees have given due regard io thc guidance on public benefit and have acted accordingly. Achievements and Performance Durftng ihe year donaiion8 havc been made lo provide Chrisimdl hampers lo retired etnpl()yc¢%. Review of the year During the year ihe Trusi made Lharilable expenditure ot £38,545 12020.. £36,555). and had net income of £250,677 (2020.. cxpcnditure of £3.52,-596) after Ihc inclusion of nei unredlised gain4 from InNesimenis of £243,712 (2020.. Insses of £399.185). Thcre are LLiiniulaled lund% ai the end of ihc J'LJr lif £2,008,381 (2020.. £1,757,706). The Ti"u%tce% intend lo Iiiainlain adequaie Ics1)urLe% to continue 10 dwdid grani.4 dnd donation.4 in linc with ihe ObJeLiS of Ihe Tru%1.
Johnson Charitable Trust Trustees, report for the year ended 5 April 2021 {c'Ollliiiued} Reserves The Trustees haN'e eslabli4hed d policy whereby Ihe unrc%tricled funds w'hich Ihc Iru%t hold% dnd which are not committed I'free reserv'es") should be between Iliiee dnd six tn(Inths of the re.%ourLes expended, which equates 10 £11,735 10 £23,470. Ai (hi% level, Ihe trustees I'eel Ihdl they would be able lo carry on the Iru%t'% <icl1.11ie$ in the ei'cnt of d .%jLTnificanl drop in funding. At present Ilie Iree re%crves, which ainounl 10 £443,60.3 exLeed the largei lei'el. Thc inN'e%tmenls held are noi Lunsidered by the Tru4lce% lo be diwailable for spendino and dre therefore Ireaied as dcsigndted funds. Inveslments The investmenis held by the Trust have been dcquired in accordance with the pO,erS dvaildble io the Tru%tLC%. The Trustees do noi rcLTdrd the IneStmentS (excluding cash) as available for spending bui rather Ihdl they are held tor Ihe purpose.% of earning income, and therefore are not regarded d% parl ot free reserve%. Registration of the Trust The Trust is regisicred under the Charities Aci 1993 (nuinber 216974). Tru51ees All Trustees served ihioughout the year. Tru51ee% (ire appointed by Ihe Bo£ird of Tru%lee% and Ihey meei %everJl limes a year. In accordance wilh Ihe Ttwsl Deeds, the appoinimenl of Trustees 1% by (he Directors of the CoInpany. All Trustees are employees cif Ihe C.OTnpany L2S di8clo4cd in note 12 or Ihese accounts. Tru4iccs arc appointed by recotnTnendation by other Iru%lee% based on appropridie %kill dnd kni)wledge ot Finance or Humdn Resources. On dppoinlmenl. Trusiee% drc provided with a brief hi%iory of the trust and given appFnpridle training where nccd% are identified. The Tru.st is exempi from incoine lax and capildl gains lax under S505 Income dnd Corporation Taxes Act 1988. Taxation The trust benefils from various exeniplions frcim l(tX¢ilion aft'orded by Idx le(Tisl<ilion and its noi lidblL [() Lorpor¢ilion rax on incomL Iir aains falling wiihin th()%c excmpiions. The chaiily 1.4 n()l able lo recover Vdlut Added Tdx.
Johnson Charitable Trust Trustees, report for the year ended 5 April 2021 (coiilinued) Connected Charities There are connected charities and del(tils can be tound in note 12 10 the aLcounls. Risk Management The Iruslee.s have examined the major risks which the charity (dLC5 and confirm ihai sy.8letn% hdl'e been pul in pldLt lo miligale or elimindie Ihe5e risks. Plan for the future The Trustees are awate of the on-going pandeTnJL afiecling counirie% w()rldw ide and have con%idered Ihe impact (hi% has and will hai'e on the N'alue of the inve%lmenl held by Tru%t along 'Ith the poientidl requirenienls of Ihe beneficiaries ol Ihc TFu%l in the coming month%. They will coniinuc to monitor ihe %iludtion and lake dLiion 'here appropriaie 10 Tninimise the impaLI (O thc Tru51. Disclosure of information lo auditor ch of the trustees has confirmed that there is no information ot w'hiLh they are aware which is relevant 10 Ihe audit. bul of which Ihc auditor i.s unawarc. They ha'e t'uriher confirmed Ihat Ihey have taken appiopridlc steps lo identify .such relevant int'ormdli()n and 10 e%ldblish Ih<il Ihe duditor 14 dw'are of such informaiion. By the order of the Trustee On behalf of Ihe Tru.%tce 15 October 2021
Johnson Charitable Trust Statement of trustees, re5ponsibilitie5 for the year ended 5 April 2021 The Iruslees atc rcsponsible for preparing ihe Tru.slees' Report and the accounts in dccordLlnce with £ipplicable Idll, and Llnitcd Kingdom Accounting Standards (Uniled "ngdoIn Generally ALcepied Accouniing Pr<iclice). The la, applicdble to Lhdriiies in Engldnd and Wales requires Ihe Iruslees to prepdre accounis fnr each tinancial yC£ir which gI.C a true and fair view of Ihe slaie of affairs ol. the Lhdllty and ol. the inLuming resoLifLes and applic(Ilion of re%uurces of Ihe chdrily for Ihat year. In preparing Ihes¢ (Iccounts, the trustees are required 10-. seleci .8uitdble accounting pollcies dnd then apply Ihem con%i.%tently; observe the meihods and principles in Ihe Charities SORP; m£ike judgemcni% and esiimatc% that are re<150nable and prudent: iatc whether dpplicable Sldnd(Irds hdl'e been followed, %ubjecl io dny maierial dep<inures di.8clo%ed and explaincd in ihe findncial slalemcn15; and preparc the accoun1.4 on the going concern bd%15 unless il is inappropriaic 10 presume that the charity will conlinuc in operation. Thc trustees are responsLble for keeping bufficienl accouniing records thdt disclose wilh rea.4onable dccuracy ai any litne the findncial po%ilion ol- the chdiily ¢ind enablc them lo en%ure thal the tinanLi(11 slalemcni.4 comply with the Charitic.% Act 2011, Ihe Charity (Accounts and Reports) Reguldti(In5 2(J18 and the proi'ision4 of the Iru.4t deed. They are L11%0 responsible for sat'egiiarding the a%.4e15 of the Ll)dfii J. and hence for taking Icdsonable slep% r()r the prevenii()n and detcction ot Iraud dnd other irregularities.
Johnson Charitable Trust Independent auditor's report to the Trustees of Johnson Charitable Trust Opinion We have Judiled the financial stalenienis uf Johnson Chdiildble Trust (Ihe 'Lh<irily') for Ihc yedr endLd .5 April 2021 .4LI i)ul on pages I I tn 20. The financidl I'eporting frdniework that been dpplied in their piep(Iration 1% applicdble law and L'.niicd Kingdom Accoiintlng Standard%, including Financial Reporting Standard 102 7lie F-inunL'ldl Reporiing Stcipid17rd ni)i)lic'cible in rhe UK and Repiiblic. of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the findncial slalemenl%". giN'e a true dnd fair view of Ihe slate of the Lhdiily's aftairs as dl 5 April 2021 and of its incominLT resources and application of resnurces, for the ycdr then ended., hdl'e been properly preparcd in accordanLe with United Kingdoin Generally Accepted Accounting PraciiLe', dnd have been pr¢pared in accorddnce with the rcquiremenls of Ihe Charities ALI 2011. Basis for opinion We conduLled our audit in aLcordance wilh Intcrnalional Standards on Auditing (UK) IISA (UK)) and applicdble Idw. Our re5rn41b1II(1e1 under those sidndards are further described in the Audilor's responsibilitie% foi. the audil of the dccouni% .seLtion of our rcport. We are independent of the chariiy in accordance with thc cihiLal requirenieiils ihai aic Iclevanl 10 our audit of IhL dLLounl% in ihe UK, including Ihe FRC'S Ethical Standard, and we have fulfilled our other eihiLdl respon%ibiliiiL% in accordancc w ith these requircnienls. We believe that the audit evidenLe we have obidined 15 sufticieni dnd appropriaie io pr(Ivide a basls for our opinion. Conclusions relating to going concern In auditing the financial slaleInenis, we Iiave conLluded Ihdl the Iiuslee.4 u.se of Ihe going Loncern basis r)f aLcouniing in Ihc prcparaiion of the financial slaleincni% 1.4 (Ippropriaie. Based on the work we hdl'e pcrfornied, we have not ideniified any Inalerial uncertainties relating lo events or condiiion% tlial, individudlly c)r colleLIiN'Lly, m(iy casi signifiLanl doubt on the chdrily'% (Ibilily 10 coniinue <1% a going concern for a period ot al leasi twelve nionih% frc)tn when Ihc financial siaiements <ire auihorisLd for i.qsue. Our respon%ibililies and the re%ponsibililies of Ihc trustee4 with respect io goino Loncern are dt%cribed in Ilie relei'ant sections ol. Ihis report. Other Information The other infornidtion comprise.4 the inl'ormdlion inLluded in Ihe dnnu<il repori, oihcr than rhe financial Siciicmcnt% and Olif ciudit()r's reporr Ihereon. Tlie Irusiee4 dre re5pon.4iblL (i)r the oiher inforiiiaiion Lontdined 'ithIn Ihe dnnual repoN. Our opinion on (he financial %la(einents does not cover the uther IntorIiidli()n dnd, excepi 10 Ihe exlenl oiherwi%e expliciily stdled in our report, 'e do not express any form ot assurance c()nLlusion Ihereon.
Johnson Charitable Trust Independent auditor's report to the Trustee5 of John50n Charitable Trust (continued) Other Information (continued) In connection wirh our iiudii of ihc financial tllementS, our responsibility is 10 rcad the other intorniaiion and, in doing %0. L(Insider whether the other informaiion 1.8 maieri<ill}w inL(In%i.%tent with the financial %laiement% ui our knowledge obiained in the dudil 01 uiherwi%e appears lo be materially missialed. If wc identify Such Inaterial inconsisienLies 01 appent material mis%tdleinenls. we are required to delcrmine whether there is a material missiaiement in the £"inanLldl sldlernentb or a mdleridl niisstatenienl ot the other inl'ormdlion. If, bd%cd on the work we have performed. we conclude that there is a material inissiaiemeni of thi% other information, wc are required lo report that fact. We have nothing 10 report in Ihis regdtd. Matters on which we are required to repori b). exception We hai'e nothing to repoff in respeci of ihc fi?11()wing niatler% in relarion io which ihc Charitie% (Accounts dnd Report%) Reoulalion¥ 2008 Icquire us lo report lo } ou it., in our opinion.. The information given in thc financial slaleinenls is inconsiblenl in dny material respeLt wilh ihe Trusiee.g' Rcport; ()r Sul'l'iLien( dLC()unlinLT reLord.4 h<li'e not been kepi. or The findtiLidl %tdtciDenls are not in agreeinenl '1[h (he dLLouniinLT records; or We haN'e not rcceived all the intornialion and explandtion4 wc rcquire for our audit. Responsibilities of trustees As explained more fully in the Stateinent of Trustee's Re.4punsibilities, the Iruslees are reswn.£iblc for ihc preparation of the financial Slll iernenis and for bcing %<itisfied that they give d Irue dnd fair view, and for such Internal control as IhL dircLt()r% determine is neces.sary 10 endble thc prepdralion of tinancial slaieIiienis Ihdl dre free fii)m ni¥iterial niisslalenienl. wheiher due to frdud or error. In prcpdring the financial slalemenls. the Irustees are Ic4pon%ible for assessing Ihe Chdriiy'% bi l ity t() Ll)nlinue a% <1 going concern, disclosing. as applicdhle, niatters related lo going concern and using the going concern basi% ol. dLcounlin(T unle%% Ihe Iru%lee.% either iniend 10 ceasc operations, or have no realistic alternaiive bul to do so. Auditor'.5 respon5ibililies for the audit of the financial %tatements We have been appointed as dudilor% undei .4CLti()n 144 of the Ch<irilies Act 201 I dnd iepcirl in accordance with the Aci and relevani re¥ulation% tnddc or haN'ing el'kecl Ihereundei. Our objectives dre to obtain reasonable d.4suranLL dboul wheiher the financial .giaiemenis as a whole are free trom niaterial misslaiemeni, wheihei duc lo fraud oi. error. and lo i%%ue dn udilnr's report ihal includes our opinion. Red.4onablc a%%urance 15 a high level ol assurdnLe bul is not a guar<inlee Ihal dn audii conducted in aLcordJnce with ISAS (LIK) will alway4 delecl a material iiii5sia(eIneni when il cxi%t%. Mi%%tatemenls can dfise l-roIn frdud or Lrri)r and are considered marerial if, individuall). 01 in the do trgicoTaie. the). could reasondbl}' be expcctcd to intluence the economic decisions of u8er% lakcn i)n the basis of ihese financial siaiemcnt%.
Johnson Charitable Trust Independenl auditor's report to the Trustees of Johnson Charitable Trust (continued) Auditor's responsibilities for the audit of the financial statemenLs Icontinued) Irregulariiie%. including fraud. arL in.4iancc.q of non-L()nipliJnLc with laws <ind regulations. We design procedure% in line wilh oui re%p()n%ihilities, outlined <ibove. to deieLI malcrial missiaiemenis in respeci of irreguldritiel. including fraud. The exlenl lo which our procedures are capable of dcleciing irtcgularilie%, including fraud is detailed below. The extent to which the audit was considered capable of detecting irregularities including Our approach to idcntifyinu and assessing the risks of material missidietnent in rcspcct of irregularilie.4, Including fraud and non-compliance with laws and regulaiion.%, wa4 d% follows.. the engagemeni partner ensured Ihai the cngagcTncnt team collectielY had the dppfupiidte L(ImpelenLe, Ldpdbilities, (Ind skills io identify or recognise non-LomplidnLe with Jpplicable laws and regiilalions. c identified IhL law,4 rcgulJti()n% 4ipplicable lo the company through discussion. with iruslees and other managetneni. wc focuicd on specific laws and regulaiion.% which w'c con.qidered may have a direci ni<ilerial effect on thc findncial statenienls or the operations of (he chdiil),, inLluding the Chaiiliel Act 2011, data proieciion, anll-bribcry, employment and health and safely legi.slation. we a4se%%ed Ihc extent uf coinplidncc 'ith the laws and regulations ideniified above through making enquiries of mdn<ig7emenl and in%peLlino legal Lorre.4pondLnLe; dnd idenlil'ied law% and regulaiion% were coInInuniLaled wiihin Ihc dudil team regularly and thc tedm renidined Jlert lo inslanLc.4 of non-Lomplidnc¢ Ihroughoui Ihe audii. We d%%e%%ed ihe %U%Lepiibilily ul Ihe Ll)mpdn}w % findnLial staletnenls lo material miss(alemcnt, including obiaining an underslandints of how fidud miLTht occur. by.. making enquiiies of mdnagLmcnt to w here they con.4idered there was su.scepiibiliiy lo fraud, their knowledge of actual. suspecied, and alleged fraud,. dnd considering the internal conirols in plaLe 10 miligaic risk% of fraud and non-compliance wiih Idws dnd reguldlion%. To addrcss ihe risk of fraud through managcmcnt bias and override of conirols. we". performed dndlytlLdl pri)Ledures lo identify any unusual or unexpected reldlion.4hip%; te%ted journal entries to identity unusual transactions. as.4es4ed whciher jud(Tcmcnt.% and assumpiions made in deiermining (he dLcountin estimates were Indicati.e ol" poienlidl bid%; dnd invesligaied the Idti()nale behind %iunificanl or unusLial Iransaciions.
Johnson Charitable Trust Independent auditor's report to the Trustees of Johnson Charitable Trust (continued) The extent to which the audit was considered capable of detecting irregularities including fraud (continued) In response 10 the risk of irregularities and non-complidnce with laws dnd regulations. we designed proLedure.4 w'hiLh included. bul were noi limiicd to.. greeing financial .8lalemeni disclo4ures to underlying supporting documenlaiion., re<iding the Ininutes of meeiing.% uf those charged wilh governance. and Cnquiring ot nianagernenl a% to dLIu¢il 4ind potential liligdli()n and claims. There art inherent limitations in our dudit procedures described dbove. The more removed that laws and re(ruldtions are from fjnancidl trdn%actions. the less likely it is that e would become aware ()f non-Lonipliance. Audiiing %ldnddrd% also limii the aLsdit procedures required lo identify non-complidnLe with Id,5 dnd reLTulalion% lo enquiry ()f the directors and ()ther managemeni and the inspection of reouldiofy dnd legal corre.4pondence, if dny. Material missialemenis Ihdt drise due lo I'raud can be hdrder to detect than Iho%e thdt (iri%e from error as the). may involve dclibcrale concealmeni or Lollusion. A funhcr de%criplion of our responsibilitic% for the audit of Ihe financial sialemeni% 1% l()cated on Ihc FindnLidl Reporiing Council's 'ebsite at l- 11 This descripiion loiTn% Pdrt of oiir dudiior's reporl. Other matters Your allenlion is drdl4'n to the fact that the Lhdrily has prepared findncial slalemenls in accordance wilh 'AcLounting and Reporting by Chdiilie.%= Stateinenl of ReLommended Practs"ce applicable 10 LhiiiiliL4 prep£iring their accounts in dCLI)rdance with Ihe Findncial Reporlin(F Standard appliLdble in the LIK and Republic of ireldnd IFRS 102) in prcference io the Accouniing and Reporting by Charities.. SiateITienl ()f Reconiinended PrdLIiLL i%.%ued on l April 2005 which is referred to in the extant regulations but has now been wi(hdidWn. Thi5 has been done for ihe findncial stalemenls lo pro¥'ide a Irue and fair view in accordance with Generally Accepted ALLounling Practice effeLlive fur reports.ng period% beLTinning on or dfier l January 2016.
Johnson Charitable Trust Independent auditor's report to the Trustees of Johnson Charitable Trust (conlinued) Use of our report This report 1.8 madc Solely to the Lhdiily'% trustees, as a body. in accordanLe w iih part 4 of the Chdriiies (AcLC)unl% ¥ind Reports) Regulations 2008. Our audit work has been underlaken 40 that we inighi %ldle lo the Lhariiy'% Iru%lee% those mallers we dre required lo .siatc to them in an auditors, report dnd for no oiher purpo.se. To the I"ulle.%l extent permilled by law, we do not accept or a$8umc responsibilily 10 anyone other than Ihe Lharily and the chdfiiy s Iruslee% a.s a body. for c)ur audit 'Ork. for this rcp()rt, or for the opinion4 we have formed. 15.10.2021 Chartered Accountants Statut(Jry Auditor Cdstle Chamber% 43 Cdsile Sircet Liverpool L2 9SH BWM is eligible for appointment as audiior (If the Charity by ils eligibility t'or appoinlmenl as £iudilor ot a company under section 1212 of the Companies Aci 2(M)6. 10
Johnson Charitable Trust Statement of financial activities for the year ended 5 April 2021 Notes Unrestricted 2021 Unre%tricted 2020 Income and Endowments from". nestMentS 94,718 Total income 53,904 94.718 enditure on: Rdi%ino I'un(Is 8,394 11,374 Charitable acrivilies 38,545 36,555 Total expenditure 47,929 Net gains l {10sses) from investtnents 243,712 399,385) Net income / (expenditure) 250,677 (352,596) Reconciliation of funds: Toidl fund balances brought forward 1,757,706 2,110,-302 Total fund balances carried forward 2,008,383 1.757,706 The notes on pages 13 10 20 form pan of these accounts. All of the charity's funds are unresiricicd for years ended 5 April 2020 and 5 April 2021. All aclii'ities are coniinuing.
Johnson Charitable Trust Balance sheet at 5 April 2021 2021 2020 Notes Fixed assets: Investments ,832,807 1,580,912 Total fixed assets 1,832,807 1,580,912 Current assets: c.ash ai bank 176,004 174,141 Debtor 1,290 4,353 Toidl current asseis 177,294 178.494 Jiabilities: Amoun1% fdllinu due 'iihin one ycar (1,718) 11,700) Net current assets 175,576 176,794 Total net a&set.s 2,008,383 1,7.57,706 The funds of the charity: Llnre%lricled fund Designaied f'und General lund 13 1,564,780 44.3,60.1 1,321,068 436.638 Toial charily fund 14 2,008,383 1.7.57,706 The accounrs on page.s I I In 20 were approved and signed by the Trustees on 15 Oclobei 2021.. ona an E. Wade D. Rohcrt% M. Green 12
Johnson Charitable Trust
Notes to the accounts for the j'ear ended 5 April 2021
Principal accounting policies
Charit). information
Johnson Chivildble Trust is a UK Registered Chdrily and an Unincorp()rated Metnbers,
A%%ocialion who%e C()n.%tilulion was adopied on 24 November 1963. The Ic(Tistered otfice
addi'e%s can be lound ()n the Leg<il and Admini8traii()n Information page.
1.1 Accounting convention
The%e accounis have bccn prepared in accordanLe with FRS 10? 'Thc Financial
Reporting Siiindard
Johnson Charitable Trust Notes to the accounL% for the year ended S April 2021 (continued) 1.2 Going Concern Ai Ihc litne of approvinLTr Ihc dccounts, the Irusiee% have a reasonable expeLldtion Ihal Ilie charily has adequaie Ic%oui'ces to coniinue in operational existence for Ihe foresee<iblc future. Thus Ihe Iru%lee% continue 10 (idopl Ihe goints concern basi% of accounlinLT in preparing ihe dccounts. 1.3 Charitable funds Unresti'icted I'und% die availdble for use (it the discreiion of Ihe trustees in furtherance of their chariiable objeclii'es iinles% the funds hdvc been designaied for oihcr purposes. 1.4 Ineoming resources All LaleLTories of inLOtne dre credited io Ihc Statement of Findncial Activities on a reLeipis basis, inclusjve of reL()ver¢ible inLoine Idx. 1.5 Resources expended ExpendilLire reflects all amount% paid and acLrucd during the year. Expenditure includes any V AT ,hILh cannot be fully recovered and 1.4 reported as part of the exptndilure lo ,hich il ielales. All co%1% are allocaied beiw'een the expenditure categories of ihe Siaiemcnt of Financial ALtivities {SOFAI ()n a bas15 de%i(TnLd to) retleci Ihe use of Ihe resource. Costs relaiing t() d particular aclivity are alloLdlrd direLilv, -4upp()rt co.s1.% are apportioned on <in appropridle basis. Charitable expeiidilur Chdrildble expendiiure COTnpri%es those co.4t% incurred by (he Lhai'il}' in the dell very of its dC(il'Jlic4 and seri'iLe.4 f()r il% beneliciarics. It includes boih cosis rhal Lan be allocdted directly to such aciivilics £ind those Lo%L% of an indireLI lldiiire necessary to suppoil Ihem. Governiirice cn.fts Ciol'ernance cosi% Fepresenl co41.4 a%%ncialed w'ith Tn¢cting Ilie con4lilulional and .4ldlulory requireinent% (If the charity and inLlude the audit fec% and costs linked lo the %(Idtegic Inanagement vf the charil J %uLh a5 expendiiurL l)n general admini.4lralion. managenienl and complidnLe 'ith sraiulory requirements. 14
Johnson Charitable Trust Notes to the accounts for the )'ear ended 5 April 2021 (continued) 1.6 1nvestmenLs Inveslnienls included on the B<ildnce Sheei ai their market value dl the end of Ihe financial period, Ihe i'aluation being providcd by the charily'% inve5tnienl adki.4¢r5. The Sialemeni of Findncial Activities inLludcs those unreali%ed gtsin.% (ind lo.%ses arising from the revaluaiion of the inveslmeni portfolio throughout Ihe year. Re<ilised gains are calculated using sale proceeds received nei of origindl cost% (ind are iaken to the Sialemenl of Financial Activities in Ihc period they arise. 1.7 Cash and cash equivalents Cash (ind ca%h equiviileni.4 include cash in hand, deposits held dl call with banks. other short-lerni liquid invesliiien15 wilh orioinal malurilies of Ihrec months or less. and bank overdralis. 1.8 Financial instruments The Charity has elected lo apply Ihe proN'isions of SeLli()n I I 'Ra%ic FindnLial In%trumenis' and Section 12 '0ther Financidl Inslrumenis Issue% of FRS 102 10 dll uf it% financial inslrumeni4. FinanciLII inslrumcnls are recognised when the charity beLOtnes party lo Ihe conlr(iLlual proviyions of the inslrumeni. Financial assets ale off%el, with the nei dmuunls presented in Ihe dccounls when there 1% (I legdlly enforccahle right lo set off Ihe rcLognised amoun[4 dnd there is an iniention lo settle on a nei b(iSi5 or lo redli%e the d55el and settle the liabiliiy %imultaneously. Basicfinancial assets Basic financiiil I1.4%ets, which include debtors and Lash dnd bank balance4, dlc initially niea%ured ai Irilll%dLtion price including Irdnsdclion cosis and dic subsequenil). Ldrried at amoi'lised Los1 u.%ing the efteciii.'e inierL%t method unless ihc arrdngeineni Lonstitutes a financing Irdn%aLlion, where the Iran.4dClI()n 1% Tneasured ai Ihc pre%ent value of the future reccipis discounied dt a niarkei rale of intere.4t. Financial a%%eis LlJ%%ified as reccivJble within one year are not dmortised. 15
Johnson Charitable Trust Notes to the accounts for the year ended 5 April 2021 (eontinued) 1.8 Financial instruments (continued} Basicfinaneial liabilities Bd%lL findnLi<il li<ibilitie%, including trade and oiher P¢iyable.s. are iniiially reLogni%ed al transaction price unless Ihe [angeM¢nI constilules a tinancing irdn.sailion, where the debi instrument 1£ meLlsurcd Jt Ihe pre%enl value of the fuiurc rcccipts discounted al a market rale uf intCFcsI. Debt inslrunienls are %ub%equcntly carried at dinorti4ed LO.41, u%inLr Ihe effeciive inlere%t rale meihod. Trdde payables are obligation% to Pay for goods or services Ihd( hai'e becn acquired in the ordin<iry course of operaiion% fri)m .%uppliers. Accounts payablc dfc cldssified as current liabilities it" paynieni 1% due 1th1n one year or less. If ncit, (hey are pre%ented as non- current liabililie%. Trdde payables are recooni%ed iniiidlly al Iransdclion price dnd -subsequenily meatsuied al amortised cost using Ihe effcLiive interest meihod. Derecognition offinanciul liabilities FindnLial lidbililies are derecognised whcn the charity's contractual obligdlic)ns expire or ale di.4Lhdrged or cancelled. 1.9 Taxation The charil}' benefii.s froTll i'drious exeinplions from iaxation afforded by tax legislation and is not liable [() L()ry)oratioii l<iX on inconie or gains fallinLT W'ithin those exempiion%. The charily is not ablc lo recover Value Added Tdx. Expendilui'e ib recorded in IhL accounis inclusive of V AT. Critical accounting estimate5 and judgements In the application of the charily's accounting policies, the Irusiee% drc required to make judgeinenls, e%iiindlL% dnd dssuniptions about the cdrryinLTr amounl o)f a%sels and liabilirie8 that are noi rcadily appareni troni other SOUlLe%. The eslimales and d.4.4()Lidled d%%umpiions are b<iSed on hi%lorical cxpcrienLe dnd i)ther factors Ihai arc considered lo be rclcvanl. Actual resulis may dilfei from these esiimales. Thc estimates and underlsing a%.%utnptions are reN'iewed on an ono()ino7 b<tsis. Revisions lo accounlinft esiiinillcs are reLI)gni.%ed in the period in which Ihc c%liniale is revised where the revi%ion dffccls only that period, or in Ihe period of the rei'ision and future periods where the revision affects boih curreni and future periods. 16
Johnson Charitable Trust Notes to the accounts for the year ended 5 April 2021 (continued} Investments Unrestricted 2021 Unrestricied 2020 Dividends Inlere.si recelvdblc nveslrneni portfolio rebates 38,645 69,488 3,180 22.050 94,718 12,919 53,904 Raising funds Unrestricted 2021 Unre.%lricled 2020 Invesimeni Mdnager fees 8,394 8,394 11,374 11,374 Charitable activities LTnrestricted Unre4iricled 2021 2020 ChJritable expendiiure-. Chri.%imas h(Imper% Pensioners Lunch Lifeline cosis 36,359 34,477 274 91 34,842 1.713 36,555 500 -16,859 1,686 38,545 Share of govcrnance c051% (see noie 6) Governance costs Goi'ernance costs Unrestrieted 2021 lJnrestricied 2020 Audit fee 1,686 1,686 1,686 ,686 1,713 1,71.3 17
Johnson Charitable Trust Notes to the accounts for the year ended 5 April 2021 {continued) Fixed Asset Investment.$ 2021 2020 1*1Sted investments at market value Fixed interest securilic% Unit Tru%(% Cash held as Pdrt of portfolio 967,637 597,14.3 1.18,027 1702,1107 686.738 634.330 129,844 1.4fi0.912 Other investment5 Cash hcld in deposit accouni iio,000 1,832,807 1.30,000 1,-fj80,912 All invesimenls are held in the L niled KinL7dom. Movement in Portfolio inve.%tments 2021 2020 Market value ai the beginninLTr of (hc yedr MoN'emenl on c.ash Nei unrealised inveilnitnl LTdins / (losse5) Markei value dl Ihe end of the year 1,450,912 8,183 24.3,712 1,702,807 1,806,150 44.147 (.399.385) 1.450.912 Historical cosi as ai the cnd of the year 1,03_3,989 1,005,113 Debtors 2021 2020 Prcpaymenls and accrued income 1,290 1,290 4,-1.54 4.3)4 Liabilities: amounts falling due within one verfir 2021 2020 Accrual% 1,718 1,718 1,700 1,700 18
Johnson Charitable Trust Notes to the accounts for the year ended 5 April 2021 (continued) 10 Financial Instruments 2021 2020 Carrying amount of financial assets Debt inslrumenis mcd%ured ai amorti4cd cost E"quily inslrutn¢nl.% niedsured al f(iir Value 445,-321 1,564,780 438,338 1,321.068 Carr)ing amount of financial liabilities Measured dt amortised cost 1,718 1,700 I l Transaetions with trustees Thc trustees did not receiN'e anj reniuneralion or expen%e% for iheir %ervices as Tru%iees during the current and previous years. 12 Related parties The following charity and Irii%l arc undei comnion Trusiee control wilh John50n Chariiable Johnson Graup c.leaners Chdrity Johnson Rroihers Employee Flenetit Trust The above charity and Irusi hdve the sanie prinLipal conlaci (Iddresses. The Trustees of Johnson Charitdblc Trust are dll employees of John.%on Service Group PLC 'Ihe Compdny") and lis subsididries. Their role% within Ihe Company are as follows.. Y Mi)naghan E Wade M Green T Morii D Ri)berts Chief Financial Officer Personal A%%ist(Inl lo c.hief Financial Officer Pension% Manager Gri)up Fin<incial Conirr)Iler Group Reporlints Accountant There were no Iran%aciions wilh any relaied Pdrties during the year. 19
Johnson Charitable Trust Notes to the accounl.s for the year ended 5 April 2021 (continued) 13 DesiRnated funds The inLI)me funds of Ihe charilS' include ihe following de.%jtsndled fund% which have bcen set asidc out ot unre%lriLted fund% by the Irusiees for ,%pecific purposes. Balance at 6 April 2020 Net unrealised gain5 Balance at 5 April 2021 Invesitnenl. 1,-321,068 243,712 1,564,780 1.3?1,068 241,712 1.564,780 Balance at 6 April 2019 Net unrealised 055es Balance at 5 April 2020 Inve.stmenl.% 1,720.4_53 (.399,385) 1,321,068 1.720,453 (399,385) 1,321,068 The invesimeni% held {excludinLT cash ai bank} are not con.iidered by the Trustees 10 be available for spendinu and are Iherefore treated a% designaied funds. 14 Analysis of net assets between funds (2021) Unre%lricled funds Total Fund balances at 5 April 2021 are represented by.. Inveslmeni% Currenl asseis 1,832,807 17_fi,576 1,832,807 175,576 2,008,383 2,008,383 Analysis of net assets between funds12020} Unrestricied I'Ltnd5 Total Fund balanLes ai 5 April 2020 dre repre%enlLd b }': Inwc%tments C.urrenl Il.s.scI% 1,580,912 176,794 1,580,912 176,794 1,757.706 1,757,706 20