Johnson Cbaritable Trust Accounts for the year ended 5 Apru 2025 Register&l Charity Number: 216974
Johnson Charitable Trust Contents Pag¢ Trustees and advisors Trustees, report Stat¢m¢nt of trustees, responsibilities Independent auditor's reFKIrt 6-10 Statement of financial activities Balance Sheel 12 Notes lo the accounts 13-20
Johnson Charitable Trust Trustees *nd advisor5 Trustees Y M Monaghan E Wade M Green T Morris D Burlinson (resigned 19 June 2025) Principal address Abbots Park Monks Way Preston Brook Cheshir¢ WA7 3GH Auditors Mitchell Charl¢sworth (Audit) Limited 14 Floor The Pla7A Old Hall Street Liverwol L3 9AB InVtmellt managers Schroder Investm¢nt Managcment Lid l London Wall Place London EC2Y SAU Bankers National Westminster Bank PLC 2-8 Church Str¢¢t Liverpool LI 3BG Santander PLC 298 D¢ansgate Manchester M3 4HH
Johnson Charitable Trust Trn$tees' report for the year ended S April 2025 The trustees are pleased to submit the annual report and audital accounts for the year ended 5th April 2025. The accounts have been prepared in accordance with the accounting policies set out on page 13 and comply with the charity's Trust Deed, the Charities Act 2011 and "Accounting atmj Reporting by Charities: Statement of Recommcndcd Practice applicable to charities prepaTing their accounts in accordance with the Financial Rq)orting Starnlard applicable in the UK and Republic of Ireland (FRS 102) (as amended for accounting peri(¥ls commencing from l January 2019)" The accounts have departed from the Charities (Accounts and Reports) Regulations 2(X)8 only to the extent required to provide a trne and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version ofthe Statement of Recommended Practice which is ref to in th¢ R¢gulalions bul which has since been withdrawn. Constltution of the Trmsl The Tnlst is a registered charity and is governed by its Trust Deed dated 12 Decernber 1927 and subs¢qu¢nily amended by various schemes approved by the Charity Commission¢rs. It op¢rdtes under the name Johnson Charitable Trust. Objects of the Trust As detailed in the Trust De&1 the Tn]sVs obje¢tive is to assist employees, ex- employees of Johnson S¢rvice Group PLC ('kn¢ Company") and their widows or dependants who are in need. The Tnt, in pursuance of this objective, makes grants to or in respect of such persons and for charitable purpose5 connected with the ne&ls of such persons. The trustees have given due regard to the guidance on public benefit and have acted accordingly. Aehievements and Perforniance During the year donations have been rnade to provide Christmas hampers to retired employees. Review of the year During the y&qr the Trust made charitable expenditure of £56.942 (2024: £53,968), and had net income of £866.519 (2024: £25,927) after the inclusion of net unrealiscd105ses from Investments of £158,478 (2024: £13,181) and the transfer of investment assets from Johnson Brothers Employee Benefit TnLSt of £971,300 (2024: £nil). There are accumulated funds at th¢ ¢nd of th¢ year of £2,939,653 (2024: £2,073,134}. The Trnst¢¢s int¢nd to maintain adequale resources lo continue to award grants and donations in line with the Obje¢ts of the Trust.
Johnson Charitable Trust Trustees, report for the year ended 5 April 2025 (conlinued) Reserves The Trustees have established a policy whereby the unrestricted funds which the trust holds and which are not Cotnmitted (-free reserves") should be between three and six months of the resources expended, which eqU¢S to £18,153 to £36,306. At this level. the trustets feel that they would be able to carry on the trust's activities in the event of a significant drop in funding. At present the free reserves, which amount to £609,690, exceed the larget level. The inVestmts held are not considered by the Trustees to be available for spending and are therefore treatcd as designated fimds. Inveslments Th¢ investments held by the Tnt have been acquired in accordance with the powers available to the TnLStees. The Trustees do not regard the investments (excluding cash) as available for spending but rather that they are held for the purposes of earning income, and therefore are not regard as part of free reserves. R¢gi$tration of the Trust The Trust is registered under the Chariti&s Act 2011 (number 216974). Trustees All Trnst¢es S¢rY throughout th¢ y¢ar, however Margo Green resigned post year end on 19 June 2025. Trustees are apinted by the Board ofTrustees and they meet several times a year. In accordance with the Trust Deeds, the appointment of Trustees is by the Directors of the Company. All Tne are employ¢¢s of th¢ Company as disclosed in note 12 of these accounts. Trustees are appointed by r¢coMmoationbY other tnt¢¢S based on appropriate skills and knowledge of Finance or Human Resources. On apwintment, Truste&s are provided with a brief history of th¢ trusi and givcn appropriat¢ training wh¢r¢ needs are identified. Th¢ Trust is ¢xempt from In¢ tax and capitsl gains tax under S505 Income and Corporation Taxes Act 1988. Taxation Th¢ tNst b¢n¢fiis from various exemptions from LatIOn afforded by tax legislation and is not liable to corporation tax on income or gains falling within those exemptions. The Charity is not abl¢ to recover Value Add&J Tax.
Johnson Charitable Trust Trustees, rep)rt for the year ended S April 2025 (¢oniintsed) Connected Charities There are connected chariti&8 and details can be found in note 12 to the accounts. R15k Management The trustees have examined the major risks which thc chariiy fac¢s and confirni thai systems have been put in place to mitigate or eliminate these risks. Disclosure of Inforniatlon to auditor Each of the trustees has confirnled that there is no infom]ation of which they are aware which is relevant to the audi( but of which th¢ auditor is unawar¢. They have further confimied that they have taken appropriate steps to identify such relevant inforniation and to establish that the auditor is aware of such inforniatio By the order of the Trustee On behalf of the Trustee 12 Dallber 2025
Johnson Charitable Trust Statement of tThstees' resPOll5ibililies for the yur ended 5 April 2025 The trustees are responsible for preparing the Trustees, Report and the accounts in accordance with applicable law and unit Kingdom Accounting Slandards (United Kingdom Generally Accepted Accounting Practice). The law applicable lo charities in England and Wales requires the tnjstees to prepare accounts for each financial year which give a tNe and fair view of the state of affairs of the charity and of the incoming resources atKI application of resources of the charity for that year. In prepaTing the5c account4 the trustees arc requir io: - select suilable accounting wlicies and then apply them consislently. - observe the methods and principles in the Charities SORP; - mak¢ judgancnts and eslimates that are reasonable and pent. stale whether applicable slandards have been followa. subjecl to any material d¢partut¢s disclos¢d and explaind in th¢ financial statements: and - prepare the a¢¢ounts on the going concem basis unle&s it is inappropriate to presume that th¢ charity will continue in owatio The trustees are resw)nsible for keeping sufficient accounting rccords th disclose with reasonable accurncy at any lime the financial PKllIOn of the chariiy at¥J enable ihetn to ensure Ihat ihe finaTKial stal¢fflenls comply with the Charitie5 Act 2011, the Charity (Account5 and Reports) Regulations 2(K)8 and the provisions of the trnst deed. They are also responsible for safeguarding the assets of the ciwity and hence for tsking reasonable steps for the prevention and detection of fraud and other itreguiaTities.
Johnson Charitable Trust Independent audltor's report to tbe Trustees of JohDson Charitable Trnst Opinion We have audited the financial statements of Johnson Charitable Tn]st (the 'charity') for the year ended S April 2025, which comprise the statement of financial activity* the balanc¢ shc¢L statement of cash flows and notes to the financial statements. includin8 SI1r1Callt accounting policies which are set out on pages I I to 20. The financial reporting framework thai has been applied in their preparation is applicable law and United Kingdom AcuntIng Standards, including Financial RqK)rting Standard 102 The Financial Reporling Stt7ndard opplicable in Ihe UK and Republic oflreland (United Kingdom Generally Accq)ted Accounting Practic¢). In our opinion, the financial statements- give a tDJe and fair view of th¢ state of th¢ charity's affairs as at 5 April 2025 and of its incoming resources and application of resources, for the year then ended. have b¢¢n propcrly prcpared in accordance with United Kingdom Generally Accepted Accounting Practice. and have been prepared in accordance with the requirements of the Charities Act 2011. Basis for opinion We conducted our audil in accordance with Intanational Standards on Auditing (UK) (ISAS (UK)} and applicable law. Our reSnSibIlitieS under those standards are further described in the Auditor's responsibilities for the audit of the accounts section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the accounts in the UK including the FRCS Ethical Standard, and we have fulfilled our other ethical responsibilitie5 in accordance with these requirements. We believe that the audit evidence we have Obtain is sufficient and appropriate to provide a basis for our opinion. Coneluslons relating to golng ¢on¢ern In auditing the financial statements, we have concluded that th¢ tte¢s, us¢ of the going concern basis of accounting in the prepardtion of the financial statements is appropriate. Based on the WO we have perforn]ed. we have not identified any material uncertainttes relating to evenls or conditions that. individually or collectively. may casl significant doubt on th¢ charity's ability lo ¢ontinu¢ as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the resp)nsibilIti of the trustees with respect to going concern are described in the relevant sections of this rewrt. Other Information The other inforniation comprises thc infornlation included in the annual report. other than the financial statements and our auditorfs rqM)rt thereon. The tnte¢S are responsible for the other infonnation contained within the annual r¢rt. Our opinion on the financial statements does not cover the other inforniation and. except to the extent otherwise explicitly stated in our report, we do not express any forni of assuranc¢ ¢on¢lusion th¢r¢on.
Johnson Charitable Trust Independent iudlior'$ report to the Trn$tees of Johnson Ch2rAtsble Trust (continued) Other Informgtlon (continued) In connection wilh our audit of the financial statement4 our responsibility is to read the other infom]ation and, in doing so, consider whcther lh¢ other infornialion is materially inconsistent with the financial ststements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such maleriai inconsistencias or apparent material misstatements, we are required to detern)ine whether there is a material misstat¢m¢nt in the financial statemenls or a material misstatement of the other inforn)ation. If. based on the work we have p¢rforni¢d, we conclud¢ that thff¢ is a material misstat¢m¢nt of this other infomiation, we are required to report that fad. Wc hav¢ noihing to report in this regard. Matters on whi¢h we •re required to report by exeeption W¢ hav¢ nothing to report 111 ffspecl of the following matters in r¢lation to which th¢ Charities (Accounts and Reports) Regulations 2008 require us to rqx)rt to you if. in our opinion: Th¢ inforniation giv¢n in th¢ financial stat¢m¢nls is inconsistent in any material rpeCt with lh¢ Tnls, R¢port' or Suffictent accounting records have not been kept. or Th¢ financial stat¢m¢nts ar¢ not in agr¢em¢nt with the a¢(xJunting records. or We have not received all the inforn]ation and explanations we rquire for our audit. R¢sponslbiUties of trustees As explainoj more fully in the Statement of Tnlstee's ReSnsIbIlitIes, the trnstees are reswnsible for the preparation of the financial statements and for being satlsfied that they give a true and fair view, and for such intemal control as the directors detemiine is necessary to enable the preparation of financial statements that are free from material misstatemeThL whether due to fraud or emjr. In preparing the financial statements, the trustees are responsible for assessing the CtLarity's ability to continue as a going concry disclosin& as applicable, matteTS related to going concern and using the going concern basis of accounting unless the trustees either intend to cease operations, or have no realistic altemative but to do so. Auditor's responsibilities for the audit of the fmancigl statements We have been ap]nted as auditors under section 144 of the Charities Act 2011 and report in accordance with the Act at)d relevant r¢gulations made or having effect thereunder. Our objectives are to obtain re&sonable assurance about whether the financial statements as a whole are free from material misstatement. whether due to fraud or aTor. and to issue an auditorfs report that includes our opinion. Re&sonable assurance is a high level of assurance but is not a guarant¢¢ that an audil conducted in accordanc¢ with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and ¢onsid¢r¢d mal¢rial if, individually or in th¢ aggr¢gat¢, th¢y could r¢asonably b¢ ¢xp¢ct¢d to influence the economic decisions of rS taken on the basis of these financial statements.
Johnson Charitable Trust Independent auditor's report to the Trustees of Johnson Charitable Trnst (continued) Auditor'5 responsibilities for the audit of the fancial statements (continued) Irrcgularities, including fraud. are instances of non-compliance with laws and regulalions. We design procedurcs in line with our responsibilities, outlined abov¢. to ddccl mat¢rial misslalemcnts in reS[t of irregularitiffj including fraud. The extent to which our procedures are capable of detecting itregularitie4 including fraud is detailed below. The extent to which the audit was Considered capable of detecting irregularitle$ indudfing fraud Our approach to identifying and asscssing the risks of material misstatement in respect of Iegular1tIes, including fraud and non-compliance with laws and regulations, w&s as follows: the engagcment partner ensured that the engagement tearn coll¢¢tiv¢ly had the appropriate competenc4 capabilities, and skills to identify or recognise non-compliance with applicable laws and regulations. we identified the laws and regulati0Th8 applicable to the cnmpany through discussions with trustees and other management. we focused on specific laws and regulations whtch we considered may have a direct material effect on the financial statements or the op¢rations of th¢ charity, including the Chariti¢s Act 2011, data protection, anti-bribery, employment and health and safety egislation. we ass¢ss¢d th¢ ¢xtent of compliance with the laws and regulations identified above through making enquiries of managcmenl and inspecting legal corrwond¢nc¢' and idcntificd laws and regulations were communicated within the audit team regularly and the team remained alert to inslances of non-compliance throughout the audit. We assessed the susceptibility of the company's fitwicial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: making enquiri&8 of management as to where they considereAI there was susceptibility to fraud, th¢ir knowl¢dge of actual, su$ped. and alleged fraud" and considerlng the internal controls in place lo mitigate risks of fraud and non-¢omplian¢¢ with laws and regulations. To address the risk of fraud through manag¢mcni bias and override of controls, we: fornied analytical procedures to identify any unusual or unexpected r¢lationships" tested journal entri&8 to identify unusual trdnsactions; assessed whether judgements and assumptions made in d¢tem]ining the accounting ¢stimat¢s were indicative of potential bias" and investigated the rationale behind significant or unusual transactions.
Johnson Charitable Trust Independent auditor'5 report to the Trnstees of Johnson Charltabk Trnst (eonthiued) The extenl to whlch the audi¢ w88 consldered eap*ble of deteeting trregularities including fraud (continued) In response to the risk of irregularities and non-compliance with laws and rcgulations. we designed ptocedures which included, but were not limit1 to: agr¢¢ing financial slat¢4D¢nt disclosur¢s to und¢rlying supwrting documentation" reading the minutes of meelin8s of those charg with governance: and enquiring of management &s to athal and p)tential litigation and claims. There are inherent limitations in our audit proc&luros described above. The more removed that laws and regulations are from financial transactions, th¢ less lik¢ly it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to idenlify non-compliance with laws and re8ulations lo enquiry of the directors and other managem¢nt and th¢ inspection of regulatory and l¢gal corr¢spond¢nc¢. if any. Material misstatements that arise due to frdud can be harder to detect than those that arise frorn error as they may involve deliberate concealment or collusion. A further description of our responsibilitics for the audit of the financial statements is located on the Financial Reporting Council's websile at h :Ilwww.frc.o This description fornjs part of our auditorfs rep)rt. Other matters Your attention is drawn to the fact that the charity has pr¢par¢d financial statements in accordance with 'Accountin8 and RetKJrtin8 by Chariti&8: Statement of Recommended Practice applicable to charitics prq)aring their accounts in accordanc¢ with the Financial Reporting Standard applicable in the UK and Republic of Jreland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice i&sued on l April 2(K)5 which is r¢f¢rr¢d to in th¢ ¢xtant r¢gulations but has now l)een withdrawn. This has been done for the financial statements to provide a true and fair view in accordance with Curr¢nt G¢n¢rally ACC¢pl A¢counting Pradic¢.
Johnson Cbaritable Trust Independent auditor's report to the Trnstees of Jobnson Charitabk Trust (continued) Use of our report This report is made solely to the charity's trustees, as a body, in accordance with part 4 of the Charities (Accounts and RepoTts) Regulations 2008. Our audit work has been undertaken so thal we might state to the charity's trustees those matters we are r4uired to state to them in an auditors, reN)rt and for no other PUryK)se. To the fullest extent pennitted by law, we do not acc¢pt or assume responsibility to anyone Oth than the charity and the charity's trustees as a body, for our audit work, for this reporL or for the opinions we have fonned. 18 December 2025 Mltehell Charlesworth (Audit) Limited Accountants Stalutory Audltor Ih 14 Floor The Plaza Old Hall Stre¢t Liveq)ool L3 9AB io
Johnson Charitable Trust St•tement of fmancial ae¢ivitie5 for the year ended 5 April 2025 Notes UDre$trA¢ted 2025 Unr¢strictcd 2024 IneonJ¢ and EndowmeDts from: Investments 126J09 971JOO 1097,609 104,309 Donations Total income 104.309 enditure on: Raising fimds IS.670 11,233 Charitable activities 5&942 53,968 Total expenditure 65,201 Net losse$ from investhients 158A78 13,181 Net Ineome l (loss) 866J19 25,927 Reeonelllation of funds: Total fund balances brought forward 073 134 2 047 207 Total fund ba1CeS carried forward 939 653 2 073,134 The notes on pages 14 to 22 fomi part of these CoUnts. All of thc charity's funds are Unrestr1d for years ended 5 April 2024 and 5 April 2025. All activities are continuing.
Johnson Charitable Trust Balanee sheet at S April 2025 2025 2024 Notes Fixed 8ss¢ts: Inv¢stm¢nts 2,747,421 747,421 1,885,989 Total fixed assets 1,885,989 Current assets: Cash at bank 193.762 184.528 Debtors 1572 4,345 Total current assets A95J34 188,873 Llabllltles: Amounts falling du¢ within one year 3,102 Net current ag9¢ts 192232 187,145 Total net assets 2 939 653 2,073,134 The funds of the charlty: Unrestricted funds Designated fund General fund 13 2J29,963 609.690 1.517.141 555,993 Total charity funds 14 2,939 653 2.073 134 The accounts on pages I I to 22 were approved and Sign by the Trustees on 12 Decemb¢r 2025: Y. M. Monaghan E. Wade T. Morris D. Burlinson 12
Johnson Charitable Trust Slatement of cash floJv5 for Ihe year ended S April 2025 2025 2024 Cash flows from o rtin aetivities N¢t incom¢ p¢r stat¢m¢nt of fmancial activities 866J19 25,927 Investment incom¢ Non-cash donation income Loss on investments Decreas¢ in debtors Increase in creditOTS (106,637) (971 JOO) 158,478 2,772 lJ74 {86,608) 13,181 9,015 Nel cash flows from operating activities 794 38,484 Cash flows from finvestln aellvltles Investment incotnc [e1Ved Interest income received 15,528 4200 11.855 35,500 Net easb flows from Invesling etivities 47,355 Change in cash durlng the year 9234 8,870 Cash as gt 6 April 2024 184J28 175.658 Cash as Ydt 5 April 2025 193 762 184 528 Th¢ notcs on pag¢5 14 to 22 forn] part of these accounts. 13
Johnson Charitable Trust Notes to the aecoullts for the year ended S AP 2025 Prfinelpal accounting policies Charity thformation Johnson Charilable Trust is a UK Registered Charlty and an Uninwrp)rated Members, Association whose Constitution was adopted on 24 November1963. The registered office address can be found on the Legal and Athninistrdtion Infomjation page. 1.1 Accountillg conventlon These accounts have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Rcpublic of Ireland" ("FRS 102"), "Accounting and RertIng by Charities" the Statement of Recornmended Practice for charities applying FRS 102, the Charities Act 2011. The ¢haTity 15 a Public Benefit Entity as defined by FRS 102. The accounts have depart1 from the Charities (Accounts and Reports) Regulations 2008 only to the extent requir&1 to provid¢ a tru¢ and fair view. This departure has involved following the StateMt of Reconmiended Prnctice for cl)arities applying FRS 102 rather than the version of the Statemenl of RMmended Prd¢tice which is referred to in the Regulations but which has since withdrawn. The accounts are Prepar ITh sterlin& which is the fundional currency of the charity. Monetary amounts in these financial statements ar¢ rounded to the nearest pound. The accounts have bcen ptepared on the historical cost convention. The principal accounting policies adopted are set out below. 14
Johnson Charitable Trust Notes to the accounts for the year ended S April 2025 (contlnued) la Golng Concern At the time of approving the accounts, the trustees have a reasonable expectation that the chariiy has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt th¢ going concern basis of accounting in preparing the accounts. 1.3 Charitable funds Unrestricted fimds are available for use * the discretion of the Irustees in furtherance of their charitable objcctives unless the fimds hav¢ bc¢n d¢S1ted for other purposes. 1.4 Ineomlng resourees All categories of income are cralited lo the Stat¢m¢nl of Financial Aclivities on a receipts b&sis, inclusive of recoverable income taL 1.5 Re$ovrces expended Expenditure reflects all amounts paid and accrued during the year. Expenditure includes any VAT which cannot be filY recovered and is TX)rt as part of the expenditure lo which it r¢lat¢s. All costs are aIlocated between the expenditure categories of the Statement of Financial Activities (SOFA) on a basis designed to r¢fl1 th¢ us¢ of the resource. Costs relating to a particular activity are allocated directly, support cosls are apEM)rtion¢d on an appropriate basis. Choritable expepjditure Charitable expenditure comprises those cosls Incurr by the charity in the delivery of its activities and services for its b¢ficia[]CS. It incIleS both costs that can be allocated directly to such activitiGs and those costs of an indirect nature necessary to support them. Governance costs GoveTnance costs rq)resent SIS associat with meeting the constitutional and statutory requirements of the charity and include the audit fees and cost5 linked to the strategic management of the charity such as ¢xpcnditure on general administration. management and compliance with ststutory requirements. 15
JohDson Charitable Trnst Notes to the accounts for the year ended 5 Aprll 2025 (eontiDued) 1.6 InvestmeDts Investments are included on the Balance Sheet at their market value at the end of the financial period, the valuation being provided by the charity's investment advisus. The Statement of Financial Activiti Includ those unrealised gains and105ses arising from the revaluation of the inveslment rtfoliO throughout the year. Realised gains are Calculat using sale proceajs received net of original costs and are taken to the Statement of Financial Activities in the period they arise. 1.7 Cash and cash equivglents Cash and cash equival¢nts include cash in hand, deposits held at call with banks, other short-temi liquid investments with original maturities of three months or less, and bank overdrdfis. 1.8 Flnanelal instrumeDts The Charity has elected to apply the provisions of Section 11 'Basic Financial Instruments. and Section 12 '0ther Financial Instruments Issues, of FRS 102 to all of its financial instnuncnts. Financial instnunents are recognised when the charity becomes party to the contractual provisions of the instnllnent. Financial assets are offset, with the net amounts presented in the accounts when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a basis 01 to realise th¢ ass¢t and settle the liability simultaneously. Bosiefinancial assets Basic financial asset4 which include debtors and cash and bank balances, are initially measured at transaction price including transli0n costs and are subsequently carried at amortised Cost using the effective int¢r¢sl mdhod unl¢ss the arrangement constitutes a financing transaction, where the transaction is Mured at the present value of the future receipts discounted at a market rate of interesl. Financial assels classified as receivable within one year are not amortised. 16
Johnson Charitable Trust Not to the accounts for the year ended S Aprll 2025 {¢ontinued) IJ Flnancial instruments (continued) BaNefinan¢ial liabilities Basic financial liabilities. including trade and other payabl¢s, ar¢ initially recognised at transaction price unless the arrangement constibjtes a financing transaction, where the debt inslrument is measured at the present value of the future r¢c¢ipts discountcd at a market Tate of interest. Debt instTuments are subsequently carri¢d at amortised cost, using th¢ effective interest rate method. Trad¢ payables are obligations to pay for g(KMb or services that have been acquired in the ordinary course of operations from suppliers. Accounts payable are ¢lassifi¢d as currcnt liabilities if paylnent is due within one year or less. If not. they are presented as non- ¢urr¢nt liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortisaj cost using the effective interest method. Dere¢ognition offthon¢i41 l¥4111¥e Financial liabilities are dere¢0)ised when the charity's contractual obligations ¢xpir¢ or are discharged or canc¢lled. 1.9 TaxgtioD The charity b¢n¢fits from various exemptions from taxation afforded by tlx legislation and 15 not liable to corporation tax on income or gain5 falling within those exemptions. The charity is not able to r¢cov¢r Valu¢ Added Tax. Expenditure is recorded in the accounts inclusive of VAT. Critical accountlng estimat and judgements In the application of the charity's aunting wlicies. th¢ trttees are required to make judgements, estimates and assumptions about the carrying amount of assets armj liabilities that are not readily apparent from other sourc. The estirnalcs and associated assumptions are based on historical exp¢ri¢nce and oth¢r faclors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. There are no criti] accounting ¢stimates applied in preparing the financial statements. 17
Johnson Charitable Trust Notes to the accounts for the year ¢nd¢d 5 April 2025 (contlnued) Investment income Unrestrleted 2025 Unrestricted 2024 Dividends Interest receivable Investment portfolio rcbates 86,125 20,512 19,672 126,309 70,594 16,013 17,702 104,309 Ratslng funds Unr¢stri¢ted 2025 Unrcstricted 2024 Investment Manager fees 15,670 15.670 11,233 11,233 Charitable activiti¢s Unrestrleted Unrestricted 2025 2024 Charitable expenditure: Chrislmas hatnpcrs P¢nsioners lunch Hardship grants Lifeline costs 4&205 679 4,500 47,069 95 47,164 6,804 53,968 53a84 3,558 56,942 Share ofgovernance costs (see note 6) Governance costs Governanee costs Unreslricted 2025 Unrestricted 2024 Audit fee Legal fees Admin fees 3,480 3,480 2,004 4.800 78 78 6,804 18
Johllson Charitable Trust Notes to the accounts for th¢ year ended 5 April 2025 (Conlinued) Fixed Asset Investments 2025 2024 Llsted Investments at market value Fixed interest securities Unit Trusts Cash held as part of portfolio 1,872,951 457.012 302,458 2 632 421 1,077,682 439,459 253,848 1770 989 Other Investments Cash held in dq>osit account 115,000 2 747 421 115,000 1,885,989 All investments are held in the Unitd Kingdom. Movement In Portfolio investments 2025 2024 Market value at the beginning of the year Transferr¢d from Johnson Brothers Employee Benefit Tn Movement on C&sh Net unrealised investment losxs Market value at the end of the year 1,770,990 971,300 609 1,744,918 39252 13,181 1770,989 2 632 421 Historical cost as at the end of the year 2 850 801 1,079 152 During the year investment assets with a value of £971,3(X) were transferred from Johnson Brothers Employee Benefit Trust. Ther¢ was no cost to Johnson Charitabl¢ TTUSL thcrefore these have been treated as donations in the financial slatements. The historical cost of these investments when they were originally purchased by Johnson Brothers Employee Benefit TTUSt as been Includ in the historical cost as at the end of the year not above. Debtors 2025 2024 Prepayments and accrued income 72 lJ72 4,345 4.345 19
JohDSOll Charitable Trust Notes to the accounts for the year ended 5 April 2025 (conlinued) Liabilities: amounts falling due within one year 2025 2024 Accrnals 3.102 1,728 10 Financial Instruments 2025 2024 Carrying amount of fln*ncfial gssets Debt instruments measured at amortised cost Equity instruments mwured at fair value 612,793 29,962 557,721 1,517,141 Cvdrrying amount of flnancial liabilities M¢asur¢d at amortis¢d cost 3,102 1,728 11 Transaetions with trustees The tnteeS did not receive any remunffation or expa for their services as Trustees during the current and previous years. 20
Jobnson Charitable Trust Notes to the aCCOUDts for the yur ended S April 2025 (CODtinued) 12 Related parties The following charity and tnt are under cornmon Tntstee control with Johnson Charitable Trust: Johnson Group Cleaners Charity Johnson Brothers Employee Benefit Tnt The above charity and trust have the same principal cnntact addresses. During th¢ year, investment assets with a valu¢ of £971,3(K) were transfetred from Johnson Brothers Employee Benefit Tt to Johnson Charitable Trust (see note 7). This has been rewgnised as a donation in the financial statements. The Truste of Johnson Charitable Trust are all employe of Johnson Service Group PLC ('Ih¢ Company"} and its subsidiari¢s. Their rol¢s within the Company are as follows: Y Mona8han E Wad¢ M Green T Morris D Burlinson Chief Financial Officer P¢rsonal Assistant to Chief Financial Officer Pensions Manag¢r Group Director of Finance Group Financial Controll¢r There were no fithher transactions with any related parties durin8 the year. 21
Johnsoll Charitable Trust Note5 to the accounts for the year ¢nd¢d 5 April 2025 {continued) 13 Designated funds The income funds of the charity includ¢ th¢ following d¢signat¢d funds which have been set aside out of unrestricted funds by the trust for specific purpo8. BalADee at 6 April 2024 Donations Net nrealised losses Balaoee at 5 April 2025 Investments .5l7,141 971,3(M) (158,478) 2,329,963 .517.141 971,3(K) (158,478) 2,329,963 Balance at 6 April 2023 Dtsnations Net unrealised losses Balance at S April 2024 Investm¢nts ,530,322 ,530,322 (13,181) (13,181) ,517.141 1.517,141 The investments held (excluding at bank) are not considered by the Trustees to be available for spending atKI are therefore treat designated funds. 14 AD21y8ls of net assets between funds (2025) Unr¢stiid¢d funds Totsl Fund balances at 5 April 2025 are represented by: Investments Current assets 2,747,421 192,232 2,747,421 192,232 2 939 653 2 939 653 Anydtysis of Det assets between funds (2Q24) Unrestricted fijnds Total Fund balances at 5 April 2024 are represent by: Investments Current assets 1,885,989 187,145 1,885,989 187,145 2.073.134 2 073,134 22