Charity registration number 222730 (England and Wales) JOHN HORNIMANS CHILDRENS TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
JOHN HORNIMANS CHILDRENS TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees Heather Brayshaw Mary Bullard Paul High Fiona KnDtt Val McFarfane Kevin McNamara Liza Phipps Kale Sewell Sue Sharpe Stephen Wrlghl (retired 10 November 20251 Secretary Charlty reglstration B Saini England and Wales 222730 Registgred offi¢$ 6 Upper Vauxhall The Vauxhall Wolverhamtpon 14SY Audltor Kingston BurrowesAudit Lid 308 Ewell Road Suthiton SUeY UK KT6 7AL Bankers Unity Trust Bank PO Box 7193 Planetary Road Ilenhall WV1 9DG Solicttors Staffurth & Bray 85Aldwck Road BLwnor Regis P021 2NT Hunters 9New Square Lincoln's Inn London WC2A 3QN Investfflent advisors Quilter Cheviol Senator House 5 Queen Victoria Street London EC4V 4AB
JOHN HORNIMANS CHILDRENS TRUST CONTENTS Page TtU51ees' report staterne of Iruslees, responsibilÉties Independent auditorfs report ststèmènt ol financial activities Balancè sheet 10 Notes to the finanoal statements
JOHN HORNIMANS CHILDRENS TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 The trustees present Ihelr annual port ffnancAal statements foF the year ended 31 Dèc*mbèr 2025. The financial statements have been Pfepared in accordance with the aecounting poliaès sel out in note 1 to the rinancial slaletnenl3 and comply with the charity's governing dwument, the Ch8ritiès Act 2011. FRS 1 D2 The Financial Reporting Standard applicable in the UK aTKI Republic of Ireland and the Charities SORP "Accounting and Reporting by Charities". Statement of Recommended Practice applicab lo ¢harilies pipparing their accounts in a¢¢ordance with the Financial Reporting Standard applicabk in the UK and Republic of Ireland IFRS 1021" The Finanaal Statements have been prepared on the historical cost basi5 with the exception of investments which are valued as at the date of the Balance Sheet. Objectives and activilies forthe public benefft The objectives of the Trust are to assist in the relief of sickness and the advancement of eduGalion gf ¢hildren who are sick, c4)nvale5cent. or h8vè learning disabilities. The Trustee5 confiim that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives in planning fuluie activitses setting the grant maknng policy for the year. The criteria lor awarding grants ara.. Criterta for granis All grants must contribute to the aims of the John Hofniman'5 Children's Trust, namety.. To assist in the relief of sickness at)d the advancement ol edu¢alion of children who ale sick, convalescent. or have leaming disabilities. Thè Trustees will give Priority lo pioiects.. run by Quaker charities or bodies. organisations with historical conneth'ons to Quakers,. which can be introducèd by a member or attendei of a Quaker meeting petsonalty", known to the TIu51ees', which fulfil the objects of our trust., which work with ¢hildr¢n up to the age Df 19 year5 old. Applications are welcorne from charitie$'. that are well established or.. Ihat are newly fomied and may be working towards registered status., that opeTale wilhiTr the UK. What we will notfund While in general prinaple the Trustees would not be prepad lo fund work unless there is a reassurance th81 il wdl b8 èntirely focused Dn the needs of children. they are however always prepared to look at any special f¢umslances. They believe however that grants towards the following 8ra unlikely to fall within their remit.. Adapts'ng buildings to provide disability ass. All age disabled support groups. General youth work. Another organisatitsn that dispon5es fvnds to a third party. Applications from or on behalf of indiwduals.
JOHN HORNIMANS CHILDRENS TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Our expectations following th• grantlng of any award Grants can be awarded for up to 3 yeafs on an annual review basis. We anticipate th818nnual grants awarded will be bètween £1,000 and £5,000 per annurn. Recipients are asked to send a report of their ac.lieS lannu31 report) for the year of the grarbt award. We hope Ih8t most proiects will be monitored by individual Hornlman Trustees or by our local contacl leg Local Qu8k8r M6stingl. Sincg 2003. as matters of general practice the Trustees havo.. Devised and implemented a grants application procedure. Invited. received and s¢reened grant applications. Awa¥ded grants for 8 range of causes. Agreed a sensible monitoring systém by Trustees lo ensure that a gTant be used for the intended purpose. Determined to spend the proceèds of investment effactively within the framework of the Trusys aims_ In 2009 Trustees agreed lo allocate almost all the income derived from investments (retaining only enough to covèr administration and governall expenses) on a hall yearly basis, allowing rnaxirnum publi¢ benèfit to sick Children. However, since 2013 and due lo the signifi¢anl in¢ase in Ihe number of appliralion5 lor grants, the TIu51ees have also used some of the gains on investments held in order lo meet this increased demand. Achiovements and performan¢¥ During the year, gran15 have been made lo". Ambitious aboAUtisM £1,000 Arts Deptst Trust Ltd £2,SOO Ataxia Telangiectssi8 Society £2.000 Autism Bedfordshife £1.500 Batten Diseasé Family Association £1.500 Candlelighters £1.500 Chailey Heritage Foundation £2,500 Challengers £2,000 Cheslrtul Tree House £2.000 Chickenshed Theatre £3,000 Chiklren's Bowel & Bladder Charty IERICI f2.000 Chiklren's Heart Surgery Fund £1,500 Children's Hospice South Wesl £2,{0 Clear Iftsion £1,500 Create £2.500 Cystic Fibrosis Tiusl £2,QOO Engllsh Touring Opera £2.500
JOHN HORNIMANS CHILDRENS TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Famlly Action £2,000 Go Live Theatre Projects £2,500 Grand Appeal £1,500 Gympanzaes £2,000 Hamlet Centre £2,500 Haringèy Shad £2,500 Haven House Foundallon £1,000 Heart'n Soul £2.500 Hearts and MIrS £2,000 Independènt PrDvider of Special Educatson Advi £3,000 Kee¢h Hospi Care £1.500 Lake Dislri¢l Calvert Trust £2,500 Liquid Listening £1,000 Little Angel Theatre £2,000 Living Pairtirws Trust £2,000 London Philhamoni¢ Orchèstra £1,500 London Symphony Orchestr8 Marttn House Hospice £1,500 Megan Baker House £2,0 Museum of London £1,5QO Otakar Kraus Music Tfusl £1,0 Peter Pan Cèntre £2,500 Polka Theatre £1,00 Rainbow Tru51 Children's Charity £2,10 Seashell Trust £2,0 Sound3bout £1.0 Speech & Language UK Slrongbones Children's charitab Tiust £2,500 £1,[0 Tall Ships Youth Tmst £1.500 Theodoia Children's Charity £2,500
JOHN HORNIMANS CHILDRENS TRUST TRUSTEES, REPORT {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Tiny Tims Chiklrens Centre £2,000 Together Trust £2,500 ngate Centre £1,50D Woodland Centre Trust Icamp Moh8wk} £2,500 Yellow Submarine Holidays £2,000 Flnancial review During the year th8 Trust received donation income of £1,45012024.. £1,01. The Tru51 is reliant primarily on the income from ils investments, thÈ incomè from which was £50,868 12024.. £51,945). Thefe were nel realised and unrealised gains on investments of £89,51012024 £33,582). Payment of grants during the year totalled £100,50D {2024.. £111.2501. The balance offund5 at 31 December 2025 was £1.392,91012024.. £1.378,5171. Reserves policy The Tiustees aim to receive an annual income Irom investments of £80,000, to relain an amoLEnl lo meet commitments for gTants. The Trustees may also apply some of the un3pplied total return to respond to applications for granls and lo cover support costs. Unrestricted fund5 al 31 December 2025 amounted lo £379,21912024." £376,354) tsf which £375,512 {2024'. £368,711) was represented by investwenls. The Trustees consider that the cuwrenl level of reserves is adequat8 for the ngeds of thè charity. Invèstm&nt policy The Trusvs investment strategy was changed following approval by the Charity Comtnission lo tbe use of a Tol81 Return approach on Ihe permanent endowment. OUT investment adviso[5 us8 a discietionary managèmènt basis and havo been instructed to invest in a portfolio which will maximise ltte Total Return with medium risk. The Trustees have adopted an ethical invesltnent poliGy have inslruded our investment athsors to exclude investmènts in companies involved in the following aieas.. The prodiJ¢tion or deaKng in armaments Businesses whÈ¢h are deemed harmful to the enw¥onment e.g. oil production and mining Gambling Pornography Companies which have a questionable human rfghls history. Rlsk Mana9•mant The Trustees have reviewed the major risks to whSch the Tmst is èxposed and are satisfied that Systems are in place to miligate the exposure to these risks. Plans for future periods To continue the piesgnl policy relating tts grants and to decidè on the level of gran15 made available from total felum.
JOHN HORNIMANS CHILDRENS TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DEGEMBER 2025 structure. governance and management The John Homiman Convalescent Home was estsblished under a Declaration of Twsl dated 26 December 1889., a home for the reception, care, treatment, education and training of children who are sick, convalescent, or have learning disabilities. From 1950, the premises werÈ leased to the Invalid Children's Aid Nationwide ss a school for children wth speech and language difficulties. The school was closed in 2003 and the premises sold in 2004. The Charity Commission, by an order dated 12 May 2004, changed the name lo John Homiman's Children's Trusl and its objects were the relief of sickness and the advancement of education of children who are sick. convalescent, or have leaming disabllilies. The Charity Commission on 30 March 2005 pemiilled the Trust lo adopt a total return In relation to the permanent endowment Investments. Trustees are appoinled by the TrLJStee body and shall be members of the Religious Society of Friends and may be re-appoirited for further Iriennium. The Charity Commi&gion Order provides that there should be not more than ninè and not less than three Trustees. The Trustees nomially meet twi a year when they agree the broad strategy and areas of actrvity for the Trust including consideration of grant making, investment, resetves and risk management policies and perfomi8nce. The day lo day administration of grants and the processing and handling of applications is delegated to the Secretary. The trustees who seNed during the y8ar and up lo the date of signature ofthe financial statements were.. Heather Brayshaw Mary Bullard Paul High Fiona Knott Val M¢Farlane Kevin McNam8ra Kale Sewell Sue Sharpe Stephen Wrighl Inductlon A Trustee who is ne¥My appointed will have been well known to some Trustees. Th8y will have been made familiar with the objectivès and activrfcies. The trustees, report was approved by the Board ofTrustee8. Paul High Chalr of Trustees Dale.,
JOHN HORNIMANS CHILDRENS TRUST STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2025 The trustées are responsible for preparing the Trustees, Report and the financial statements in accordan wrth applicable law and United Kingdom Accounting Standards (Unitèd Kingdom Generally Accepted AceountiNJ Praclicel. The law applicable lo charities in England and Wales requires the trustees lo prepare financial slal6ments for each financial year whith give a true and fair view of the stste of affairs of the charity and of the incoming resources arKJ appliGats"on of resources of the charity lor that year. In preparing these financial statements, the Iru5tees are required lo.. select suitable accounting policies and then apply them consistently., obseTve the methods and principles in the Charities SORP.. make judgements and estimates that are reasonable and pnjdent; stste whether applicable accounting Standards have been followed, subject to any material departures disclosed allLI explained in the financial statemen15," and prepare the financial statements on the going COnM basis unless il is inappropn.ale to presume that the charity will contsnue in operabon. The trustees are responsible for keeping sufficient accounting records that disclose wlh feasonable accuracy al any lime the financial position of the charity and enable them to ensure Ih8t the financial ststements comply 1th the Charsties Act 2011, the Ch8rity IA¢cDunts and Reports) Regulations 2008 and Ihe provisions ofthe trust deed. They are also responsible for safegijarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other IrrulentIe$. Auditors Kingston Burrowes Audit Ltd took over the audit work of Myrus Smith from 1 October 2024 and were appointed auditors of the Financial Stslements for the year. On behalf of the Tnjstees Paul High Chair of Trusto&s
JOHN HORNIMANS CHILDRENS TRUST INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF JOHN HORNIMANS CHILDRENS TRUST Opinion We have audited the financial sfalements of John Ho¥nimans Childrens Trust Ilhe 'charty'l for the year ended 31 Decembor 2025 which comprise the stslement of financial actiwties, the balan sheet and notes lo the financial statements, including signilieant accounting policies. The financial reporting fr8tnework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, induding Financial Rpporbng Standard 102 The Financial Repothng Standard applicable in th2 UK and RepublK of Ire18nd Iuniled Kingdom Generally Accepted Accounting Practicel- In our opinion, the financial st81emenls.' give a truè and fat¥ view of the slate of the chaiity's affairs as at 31 December 2025 and of its incomlng resources and applI110n of resources, for the year then ended". have been property prepared in ac¢oidan¢e with United Kingdom Generalty Accepted Accounting P¥aetieA', and have been pr8par8d in accordance with the Chaiilies Act 2011. Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII anLI applicable law. Our responsibilities undei those standards are further described in the Auditorfs ffsponsibNIth"es for the audit of the finanGAal statements section of our report. Wè arè independént of the charity in accordanTr with thè ethieal requirements that are relevant to Ouf audit of the fi'nanGial slalements in the UK, including the FRC'S Ethical standard. and we have fulfilled c>ur other elhical responsibilities in a¢¢ordanee with these requirements. We believe that the audit evidence we have obtained is sufficient and apptopriatè to provide a basis for our opinion. Conclusions relatin9 to going concern In auditing the financial statements, we have concjuded th Ihtr trustees, use of the going conwn basls of a¢¢ounling in the preparation of the financial statements is appropriate. Based on the work we have performed. we havè not identified any matsrial uncertainties relating to events or ndilions that, individually or collectively. may cast significant doubl on the charity's ability lo Continue as a going concern for a period of at least twelve months from when the financial stateMets are authorised for issue. Our responsibilitie5 the fesponsibililies of the trustees with respect lo golng conrn are described in the rolevant sections of this rep(>rt. Other Inf0mtIOn The other infomialion comprises the infomiation included in the annual port other than the financial statements and our audilo¢s report Ihereon. Th6 trustees are responsible for the othei infoimalion contained within the annual port. Our opinion on the financial statèments dS not cover the other infotmalion and we do ngt express any form of assurance condu5ion Ihereon, Our responsibility is to ad the other information and, in doing so, consider whether the other inforrnalion is malerialty inconsistent with the finanaal statements or our knovAèdg8 obtsined in the course of the audit, or othonmise appears to be materially misstated. If we identify such material inconsistenaes or appant material misstatements. we are rtsquirèd to determine whether this gives rise lo a material misstatement in the finanGial stslements themselves. If, based on thè work we have performed, we conclude that Ih8re 1$ a matefial misstatement of this othei inf(Kmation, we are required lo report that ts¢L We have nothing lo report in Ihls regard. Matter6 on which we are required to report by gx¢ption We have nothing lo report in SpeCt of thé following matters in relation to which the Chartbes {Accoun15 and Reports) Regulaliorss 2008 requires us to report to you il, in our opinion.. tho infom)ation given in the finar¥cial statements Is Inconsistonl in any material respect with the trusteès, report., or sufficient aOUntIng records have not been kept,. or the financial staternent5 are not in agreement with th2 accounting recorLls'. or we have not Teceived all the infoimab.on and explanations we require for our audlt.
JOHN HORNIMANS CHILDRENS TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF JOHN HORNIMANS CHILDRENS TRUST Responsibilities of tru$tee$ As explained more fulty in the statement of trustees, respo)nsibililie$, the Iruslees are sponSIble for the preparation of the financial statements #nd for being satisfied that they give a true and fair view, and lor such intsrnal conliol as the trustees detemine is necèssary to enabk the preparation of finanaal statements that a free from material misstatement, whelhw due to fraucl or error. In preparing the financial slalemenls, the Iwstees are résponsiblè for assessing the charity's ability lo continue as a going c(>ncem, disclosing, as applicable, matters related to going con¢em and using the going concem basis of accounbng unless the trustees either intend to ceas& operations. or have no iealislic allemalive bul lo do so. Auditorfs SpOnSIbIlItIeS for tho audit of the financial statements We have been appoinfed as audiloF undei se¢tion 144 01 thè Charities Act 2011 and report in aco)rdance with lh8 Act and relewanl regulations made or hang effect thereunder. Our objeclwes are to obtain reasonable assurance about whether the financial statements as a whole aTe flee from material misslalemènt, whèthèr duè to fraud or error, and to issue an auditorfs report that includes oui opinion. Reasonable assurance is a high level tsf assuran¢e bul is not a guarantee that an audit conducted in accordan¢e Wbth ISAS IUW will ahmays delecl a material misslatemenl when il exists. Misslalemenls can arise from fraud or error and arè considÈrÉd material rf, individually or in the aggregate. they could reasonably be expected to influence the economic dedslons of users taken on the basis of these financial statements. The extent lo which our procedures ar8 eApable of detecting irregularities, induding frdud. is d&laited below. A further descriplion of our re5p0n5ibl.tles is available on the Financial Reporting Council's website al.. https.'Il vjww.frc.org.uklauditorsresponsibililies. This description foms part of our auditorfs report. Other matters Your attention is diawn to the fact that the charity has prepared financial statements in accordance witt) Accounting and Reporting by Charities St2temènt of Recommèndod Practice applicable to charities preparing Iheii accounts in accordance with the Financial Report ng Standard applicable in the UK and Republic of Ireland IFRS 1021" las amended) in preferen to the Accounting and Reporting by Charities.. Statement ol Recommended Practice issued on 1 April 2005 whith is referred to in the extant regulations bul has now been withdrawn. This has been done in order for the financial slalements to provide a true and fair view in 8ccord8n¢e with currènt Generalty Accepted AGCOUnting Prathce. Use of our report This report is made sDlgly to the Charity's trustees, as a body, in accordance with Part 4 of thè Charities {Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might slate lo the ¢harity's trustees those matters we a requirèd to statè to them in an auditor's report and for no other purpose. To the fullest extBnl pemiitted by law. we do not accèpt or assume responsibility to anyone olhef than the charity and the ¢harity' trUStS as body. for ur audit work. for Ihls report, or for the opinions we have formed. For and on behalf of Kingston Burrowes Audit Lld. Statutory Auditor 308 Ewell Road Surbiton Surrey KT8 7AL UK Dale: Kingston Burrow8s Audit Ltd is eligible for appoinlment as auditor of the charity by virtua of its eligibilty for appointment as atsdrfLor of a company Linder %ettiiOn 1212 ofthe Companies Ad 2006.
JOHN HORNIMANS CHILDRENS TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2025 Unrestricted Endowment fvnds funds 202$ 202S Totsl unStrICted Endowment funds funds 2024 2024 Total 2025 2024 Notes Income from- Donations Investments 1.450 13,904 1.450 50,868 1.WO 14,174 1,000 51,945 37,771 Totsl in¢om• and endowments 15,354 36,964 52,318 15.174 37,771 52,945 Expenditur• on- Raising ftjnds Charitable activities Support C05ts- endowment fynd8 2,502 109.379 6,675 9,177 109,379 2,485 123,736 6,759 9,244 123,736 8.879 8,879 8,618 8,618 Totsl exp*nditurn 111,881 15,554 127,435 126.221 15.377 141,598 Nel gains on investmersls 10 21.751 67.759 89,510 13.224 20,358 33,582 Not incomèllexpendtture) 174,7761 89,169 14,393 197.8231 42.752 155,0711 Transfers betwegn funds 77,641 177,6411 81,617 181,61 n Net movèmènt In funds 2.865 11,528 14.393 116,2061 138,8651 155.0711 Rgcon¢ilt¥tion of fund5- Fijnd balarS at 1 January 2025 376,4 1,002,163 1,378.517 392,560 1,041,028 1.433,588 Fund balances at 31 December 2025 379.219 1.013,691 1,392,910 376.354 1,002,163 t.378,517 The statement of ffinancial activities includes all gains and losses Igcognised ift the ygar. All income and @xpanditure derive from continuing activit4es.
JOHN HORNIMANS CHILDRENS TRUST BALANCE SHEET AS AT31 DECEMBER 2025 2025 2024 Notes Fixed as89ts Investments 12 1.389,204 1.370.874 Current as$ets Cash al bank and in hand 5,848 9.683 Credltors.. amounts falling due within one year 13 12.1421 12,040} Ngt cyrn1 assets 3,7 7.643 Tt*tsl ass•ts less curr•nt liabiliti•s 1,392,910 1,378,517 Th• funds of the charity Endowment funds Unrestricted funds 15 16 1,013.691 379.219 1,002.163 376.354 1,392.910 1.378.517 Th8 finanaal slalements were a proved by the trustees on ......................... Paul High Chair of Trustees 6. 10-
JOHN HORNIMANS CHILDRENS TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Accounllng pollcies harity inforn)ation The John Horniman's Convalescent Homè was established under a Dec&ralion of Trust dated 26 December 1889. The Charity Gommission sèaléd a scheme dated 12 May 2004 which aKered IheTiusts of the Charity now to be known as John Horniman's Children's Trust and for ils administration. 1.1 Basis of pr9ration The financial 5taternènts have been prepared in accordance with the Charity's goveming document, th& Chaiities Act 2011, FRS 102 "The Financial Reportlng Standard applicable in the UK and Republ of Ireland" and the Charitiès SORP "Accounting and Reporting by Charities.. Slal&m&nl of Recommended Practice applicable to charities prepaiing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK arKI Republbc of Ireland IFRS 1021" The charity is a Public Benefit Entity 2$ dèfin8d by FRS 102. The charity has taken advantage of th& provisions in thè SORP for charities not lo prepare a statement of cash flows. The financial statements have Oep8rtÈd from the Charities (Accounts arKI Reportsl Regulations 2008 only lo the extent requiréd to provlde a tme and lair vw. This departure has involved following thè Statement of Recommended Practi foi tharilies applying FRS 102 rather than the version of thè Statement of Récommended Practice which is referred lo in the Regulations but which has since been withdrawn. The financial slalemenls are prepared in sterling, which is the lunctional curneY of Ihg charity. Monetary amounts in these financial slalements are rounded to the nearest £. The financial statements have bean prepared under the historical c08t convention, Imodified to include thè revaluation ol freehold prtsperties and to include investment prliperties and 01r1 financial instAJménts at fair valuel. The ptinapal 8ccounling policies adopted are set out below. 1.2 Golng concern At the tirne of approwng the finanryal statements, the Iruslees have a ieasonable expectslion that the charity as adequate resources lo continue in operational exislence for the foreseeable fvlure. Thus the trustees conllnue tr) adopt the going conceTn basis of ac¢outrting in praparing the financial slat&rnentS. 1.3 Charitable funds Unrestrtcted funds are availablè for use al the discretion of the Iruslees in furth@18n¢e of their charitable objectives. Restricttsd funds arè subject to specific conditions by donors or granlws as lo how they may be used. The purposes and uses of the ieslriaed funds are set out in the notes to the financial statements. Endowment n$ are subject lo speryfic conditions by donors that the capital must bè maintainèd by the charity. 1A Income Income is recognised when the charity is legally entrtled lo il aft8r any performance (x)ndfiions have been mgt. è amounts (2n be measured reliably, and (t is probable that in¢om$ will be reived. Cash donations are rec4)gnised on receipt. Other donations are recognised once the chafity has been nolifiod of the donation, unless performance conditions requirg deferral tsf the amounl. Income tax recoverable in relation to donations reiVed under GiftAid or deeds of covenant is recognised at the time of the donation. 11
JOHN HORNIMANS CHILDRENS TRUST NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Accounting polieiès IContinu•dl Legacies are regnISe(l on re¢eipt w otherwise if the charity has been notffjd of an impending distribution, the amount is known, a1 recelpt is expected. If the amount is not known. the legary is trèatèd as a conlingenl asset. 1.5 Exptrndiiur Expenditure 15 recognised once the Is a legal or constructive obligation lo transfer economic benefrt to 8 third party, it is piobable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be Measured reliabty- Expenditure 15 classified by activity. The Costs of each activity Ére made up of the lotal of dlrect costs and shared costs, ncludiNg support costs involved in undertaking each activity. Direct costs allributable lo a single aGtivity a all(Kated directly to that activity. Shared Costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of iesources. Central staff costs are allocated on the basis of tirne spent, and deprecAalion charges are 8llocaleil on the portion of the asset's use. 1.6 Fixed asset investmants Fixed asset investments are lnrtia1 measured 81 transaction pri exduding transaction costs, and are subsequently measured al fair value at each Teporting date. Changes in fair v8lue are recognised in net incomellexpondilurel foi the yeai. Tiansaction costs afe expensed as incued. 1.7 Cash and cash equivalents C8sh and cash equivalents indude cash in hand, deposi15 held al call wllh banks, other short-tem liquid invèstmènts with original maturities ol three months or less. and bank oveTdrafts. Bank overdrafts are shown within borrowings in ¢urient liability'es. Basic financiala55els Basic financial assets, which include debtors and cash and bank balances, are initially Measured at transaction piice including transaction costs and are subsequently carried al amortised cost using the effe¢live interest method unless the atrangement constitutes a financing Iransaclion, where the transaction is measuwed al the present value of the future receipts discounted at a market rale of interest. Financial assets classified as receivable within one year ar8 not amortised. Basic lInanal liabilrfies Basic financial liabilities, including creditors and bank loans are inttially recognised at transaction price unless the arrangernent constitutes a finan¢ing tiansactic>n, wh&r& the debt instrument is rneasured al the present value of the future payments di5wunted al a market ratè of interest. Financial liabilities dassified as payable within one year are nol amortised. Debt instruments are subsequentty at 8mortised cost, using the effective interest rate method. Trade creditors are ctrbligalions lo pay for goods or seNcès that havè bean acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-currenl liabilities. Trade credrtors are fecognised initialty at Iransactson price and subsequently measured al amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilsties are derecognised when the ehartty's (x)ntractual obligahons expire or are discharged OT cancelled. 12
JOHN HORNIMANS CHILDRENS TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Accounting policie5 Icorttinued} IA Employ•è banofits Thè cost of any unused holiday entillernenl is recognised in the period in whith th8 Ompye8,S sarvKes are received. Terfflinalion benefts are recognised immedialety as an expense when the charty Is demnstrably committed to terminate the employment of an employge or to prowde terminatn benefits. Critical a¢¢ounting •stimatss and judgements In the appliG8liorh of the charity's accounting policies, the tru51ees ale reqUId lo make judgements, estimates and assumptions about Ihs carrying amount ol assets and liabilities that are not readily apparent from other 50ur¢es. The estimatès and associated assumptions are based on hisloiical experience and other factors that are considered to be relevanL Actual r8SLsIts may differ from these estimates. The estimates and underfying assumptions are reviewed on an ongoing basis. Revisions lo accounting estimates arè rècognised in the period in which the eslitnale is revised where the iewsion affects only that period, 01 In the wriod of the revision and future periods wheTe the revision alfects both ¢urrent and futur8 periorls. Income from donation¥ Unrèstrlcted unStriCted funds fund5 2025 2024 onations and grfts 1,450 1,000 Income from investments Unrestricted Endowment fund$ funds 2025 2025 Totsl Vnrostrl¢ted Endowment funds funds 2024 2024 Total 2025 2024 Income from listèd investsnents Inleiest- UK & Overseas Fixed Interest Interest on cash deposits 7.77e 19,996 27,772 8,200 21.380 29,560 5,847 281 15,926 1,042 21,773 1.323 5,695 279 15,515 21,210 1,175 13,904 50,868 14,774 37,771 51.945 13-
JOHN HORNIMANS CHILDRENS TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Expendlture on raising fvnds Unrestricted Endowment funds funds 2025 2025 Totsl Unr¢strlct•d Endowment funds funds 2024 2024 Totsl 2025 2024 Cost of raising funds: Investment management costs 2,502 6,67S 9,177 2,485 6,759 9,244 Expenditure on charitable a¢ttvitiès Unrestricted Unre5tri¢ted funds funds 2025 2024 Direct ¢osts Conferen¢e Grants to institutions 3.868 111,250 100,500 100,500 115,118 Sharè of support and govarnanco costs Isee note 71 Support 8,879 8,618 109.379 123.736 Analysls by fund Unrestricted fvnds 109,379 123.736 Support costs atlocated to activitles 2025 2024 Secielary's salary and expenses WÉbsile costs Room hire and sundry Governan costs 13,455 620 874 2,809 12,778 591 1,053 2.814 17.758 17.236 Anatysed between: Support cc>stS-Èndowmént funds Unreslri¢ted funds 8,879 8,879 8,618 8,618 17,758 17,236 14_
JOHN HORNIMANS CHILDRENS TRUST NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Support Costs allo¢ated to activltbes ICantInl Supwrt costs are 8110¢3led equalty belweèn Ihe Unrestricted and Endowrnenl Funds. 01 £17,236 support sts incurred in 2024, £8,618 was ¢h8rgèd to Unr8Stricted Funds and £8,618 was charged to Endowment Funds. Of the £141.598 total expenditure incurred in 2024, £126,221 was charged to Unieslrictgd Funds and £15.377 Was charged lo Endowment Funds. Net movement in funds 2025 2024 The nel movemernt in funds is slaled after Chargin{credItIng)'. Fees payable for the audit of the charity's financial statemènts 2,142 Employees The average rnonthly number of employoes durlng the year was.. 2026 Numbèr 2024 Number Total TtteTe'were employees whose annual remuneration was more than £60,000. 10 Galns and losses on Investments Unrèstrictsd Endowment funds fund8 2025 2025 Total Unrestricted Endowmfynt funds funds 2024 2024 Total 2025 2024 Gainsllk)ssesl arising on.. Revaluation of IDveslmonls 21,751 67,759 89.510 13,224 20,358 33,582 11 Taxatlon The d)arity is exempt from taxation on its actiwties because aH Income Is applled for charilable purposes. 15-
JOHN HORNIMANS CHILDRENS TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2025 12 Fixed 8$$•t investments 2025 Cash In portfollo Total Cost or valuation At 1 January 2025 Addition8 1,313,475 72,510 57,399 154.180) 1,370,874 18.330 Al 31 December 2025 1.385,985 3.219 1,389,204 Carrying amount Al 31 December 2025 1.385,985 3.219 1.389,204 At 31 December 2024 1,313,475 57,399 1.370,874 2025 2024 Investments at fair value comprise.. Shares in public limited companies UnfE Trusts Fixed Interest Cash held by QUIer Cheviot 48,C120 351,170 386,795 3,219 600,372 331,408 381,695 57,399 1.389,204 1,370,874 13 Credttors: amounts falliny due within ono year 2025 2024 Accruals and deferred Incom8 2.142 14 Provlsions foT li#biliti¥$ 2026 2024 There is 110 oulslandlng tharitabEe commitments accrued at 31 December 202512024.. nil) 16-
JOHN HORNIMANS CHILDRENS TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 15 Endowment fund$ Endowment fvnds repTesenl a8se13 which mLtsl b8 held permanenlty by the charity. Income ark%ing on the endowment fvnds can be used in accordance with tho objects ofthe tharity and is induded as urbr8slrKted income. Any caprtal gains or losses arising on the assets form part of the fun(l. At l January 2025 Incoming resourcès Resources expgnded Transfers Gains and los At31 Dèc8mber 2025 Permanentendowments 1.002,163 36,964 115,5541 177.641) 67,759 1,013,691 Previous year: At 1 January 2Q24 Intoming resources Resources expended Transfers Gains and losses At31 De¢trmber 2024 Pemianent ondovmiènts 1,041,028 37.771 115,3771 181,617) 20,358 1,002,163 16 Unr¢strlcted funds The unrestricted funds of thè charity comprise the Unexpered balances Df donalions and grants which are not subjèct to specifie conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside OL5t of unrestrictèd funds by the trustees for specific purposes. At 1 January 2025 Incomlng resources Resourcgs 8XPgnded Transfers Galns and losse¥ At31 Dècember 2025 General funds 376.354 15,354 1111,8811 77,641 21.751 379,219 Previous year: At 1 January 2024 Incoming resourcè$ Resources Xnded Transfer Gains and 108ses At31 Dècémbèr 2024 General funds 392,580 15,174 1126.2211 81.817 13,224 376,354 17-
JOHN HORNIMANS CHILDRENS TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 17 Analysls of not assèts bglween funds Unrestrlcted Endowment funds funds 2025 2025 Total 2025 At 310ecemher 2025: Investments Currenl assetsllliabilitiesl 375,513 3.706 1,013,691 1,389,204 3,706 379,219 1,013,691 1,392,910 Unrestricted Endowment nds funds 2024 2024 Total 2024 At 31 D•c8mbor 2024: Investments Current asselsllliabililiesl 368.711 7,643 I,12.163 1.370,874 7.643 376,354 1,2,163 1.378,517 18 APPUCATION OF THE POWER OF TOTAL RETURN The Charity Commission peirnitted the Twst lo adopt the use of totsl retufn in relation to pemanent endowrnent investments on 30 March 25. The power pertnts the Tiustges to invest the portfulio lo maximise total return and lo apply an appiopiiale portion of the total return to income each ye81. Until the power is exeirised to transfer a portion ol un8ppliÈd total réturn to incoma las disdosed below), the Lbnapplied lotsl relum remains invested as part of the Pemanent Endowment. The investment fund and aPIcation oftotal retum lo permanent endowment funds.. Unapplied total return Add." Investment relum.. Dividends and interest R&alisod and unrealised gainslllossesl 2025 2024 802,163 36,964 67.759 841,028 37,771 20,358 906,886 16.6751 18,879) 899.157 {6,7591 (8.6181 Le$s: Invastmenl management costs Support costs Unapplied totsl return b0 transfer lo income 891,332 883,780 Less.. Unapplied total retum applied 177,841) 181,8171 Sublolal., Unapplied total return as al 31 Drnber 2025 Original value of gift 813,691 200,0 802,163 21XJ,000 Pormanent endowment including unapplied total return as al 310ecember 2025 1,013,691 1,002,163 18-
JOHN HORNIMANS CHILDRENS TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 19 Related party transa¢tion$ and trustses. remuneratlon Trustee$ received no emoluments. Travel expenses lotaling £66712024.. £774} were Teimbur8ed lo 8 Trustees 12024. 9). 19-