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2022-04-05-accounts

ST JUDE'S TRUST REPORT AND FINANCIAL STATEMENTS For the Year Ended 5 April 2022 Charlty number: 222883

ST JUDE'S TRUST FINANCIAL STATEIIIENTS S April 2022 Reference and administrative information TrLJStee's report 4-7 Independent Examiner's report Slalement of financial activities Balance sheet 10 Notes to the accounts 41-15 The following page5 are supplementary and do not form parl of the financial statements Schedule of investments and income arising 16-20

ST JUDE'S TRUST REFERENCE AND ADMINISTRATIVE INFORMATION 5 Aprll 2022 Trustees Mrs Rosemary Katherine Duckett William Duckett Roger Millman Charlty number 222883 Registered address Salisbury House London Wall London EC2M 5PS Independent Examin8r Edwin Smith Chartered Accountants 32 Queens Road Reading RG14AU Sollcltors Druces LLP Salisbury House London Wall London EC2M 5PS Investment Advisors JMFinn&Co 4 Coleman Street London EC2R STA Bankers Bank of Scouand 33 Old Broad Street London EC2N 1HZ Constitution St Jude's Trust is an unincorporated chartty, governed by a Trust Deed dated 27 February 1961 and 22 June 1965 as amended on 29th June 2021. Charity number 222883.

ST JUDE'S TRUST TRUSTEES, REPORT 5 April 2022 The Trustees are pleased to present their report and financial statements of th8 charity ft)r the year ended 5 April 2022. Reference and administrative infomialion sel out on page 1 forms part of this reFK)rt. The financial statements comply with current statutory requirements, the charity's trust deed and the Statement of Recommended Pra¢tice- Accounting and Reporting by Charities FRS 102. structure, Gov¢mance and Management Governin documen Sl Jude's Trust is an unincorporated charity. governed by a declaration of trust dated 27 February 1961 and 22 June 1965 as amended on 291h June 2021. ointment of Irustees The existing trustees have the power lo appoint new ar additional trustees. Trustee indu¢tlon and trainin In view of the size of the charity it is not considered necessary for the ttustees to undergo formal training. anl$atlon The Trust is governed by a board of two tmstees which has been increased to three in the next year. The trustees meet tsvice annually to manage its affairs. elated arties Apart from the three trustees there are no related parties during the year. Rlsk mana emgnt Since the charity has not committed itself to paying salaries and will continue to rely on the Irustees, solicilors to provide Offi￿ for ils meetings. the financial risk will be kept al a minimum. The Iruslees do not commit funds until they are available.

ST JUDE'S TRUST TRUSTEES, REPORT {CONTINUEDI 6 April 2022 Objectlves and Actlvltles The trustees hold the capital and Income of the Charity to pay or apply th8 whole or any part or parts thereof in theirabsolule discretion to such legally charitable institutions or foundations or for such legally charitable purposes as they shall determine. Vvhen planning activities for the year the Iruslees have Considered the Charity Commission's guidance on public benefit. The endowment fund is invested lo produce income which is available for unrestri¢ted purposes. The Charity intends lo achieve these objectives by making charitable donations within its 8vallable income. Achlevements and Performance During the year the Trust made 32 charitable donations tolaling £37,600 and 3 individual donations tolaling £1,129 as detailed in note 4 to the financial statements on page 13. The charitable donations provided by the Charity allows each beneftciary charity lo aid sections of the public. Flnancial rovlgw The statement of financial aclivilies shows that the net incomel{expendilure) for the year. after net gains and losses on investments, amounted to £94,388 {2021.' £169,395). The trustees consider the financial position of the Charity al the year-end to be sound. No salarw are paid, no unnecessary expenses have been incurred and there are no long-term commitments lo any third party. Investment powers and policy Underthe trust deed the charity has the power lo make any investment the trustees see fil. The trustees are satisfied with the performance of the Charity's investments and regularly monitor them with the Investment Manager engaged to manage the investments

ST JUDE'S TRUST TRUSTEES, REPORT ICONTINUEDI 5 April 2022 Reserve8 policy The trustees recognized that the objects of the charity were unlikely lo be satisfied in the foreseeable fvture and thus therewas a need lo generate income for the foreseeable future. The trustees recognized that, given the natLJre of the trust. further donations lo the trust should not be relied upon. A reserve was necessary lo maintain the available funds for distribution from year to year, bearing in mind that there may be a downturn in the income of the trust by rea50n of economic ¢onditKins. A reserve would also hopefully in Ihe medium term allow for an increase in dislribulions from year to year in line with inflation. It is recognized Ihal in order to maintain sufficient investment to ensure as far as possible that incoine rose in line with the above criteria, a resetve would need to be established to generate increased income over the medium term. A reseTve w28 necessary as the demand for charitable gifts tended to be greater when incomes were lower by reason of low economic aclivily. A reserve was necessary to maintain income in light of the loss of lax rellef In ftjture years on dividend income. It is considered that unrestricted reseNes should be maintained for the present in the region of£75,000 to £100.000. Having regard lo the history of the finances of the trust and foreseeable future, it is considered there is no reason to change the reserves policy. The trustees recognized that the objects of the trust are not such as to normalty give rise to any special risks or conlingencies, or indeed opportunities. The distributions in each year in accordance with the policy set out below would therefore ensure the maintenance of sufficient reserves. The Iruslees consider that the reseNes policy should be reviewed annually in Ihelr aulumn meeting. Plans for future In future years the trustees intend to continue making challtable donalKJns within the irwme arising. The trustees are aware of the unprecedented circumstances in connecllon with Covid-19, Ukraine and other factors and will continue to ensure that funds are applied to those most in need. They ar8 monitoring the charity investments in conjunction with the investment manager.

ST JUDE'S TRUST TRUSTEES. REPORT {CONTINUED) S April 2022 Trustees. responslbllltles In relatlon to the financial statements The charity trustees are responsible for preparing a trustees, annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practi¢8). The law applicable to charrties In England and Wales require the charity Trustees lo prepare fi'nancial ststemenls for each financial year which glve a true and fair view of the slate of affairs of the Charity at the end of the financial year and of the incoming resources and application of resources, of the charity for that period. In preparing those fin8nclal statements the trLfStees are required to.. se￿t suitable accounting policies and then appty them consistently., observe the methods and principles in the applicable Charities SORP {FRS 102)., make judgments and estimates that are reasonable and prudent., state whether applicable accounting standards have been followed subject to any material departures that musl be disclosed and explained in the financial statements., prepare the financial Statements on the going concern basis unless it is inappropTiate lo presume that the charity will ¢ontinue in operation. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy al any time the financial position of the charity and to enable them lo ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the ass8ts of the charity and hence for laking reasonable steps for the prevention and detection of fraud arEd other irregularities. The Iruslees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website in accordancè wtth legislaliorÈ in the United Kingdom governing the preparation and dissemination of financial statements. Approved by the trustees on and signed on their behalf by.. Mrs. R LD ckell W Duckett R. Millman

TRUSTEES’INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF

ST JUDE’S TRUST

5 April 2022

I report to the trustees on my examination of the accounts of St. Jude’s Trust (the Trust) for the year ended 5 April 2022, which are set out on pages 9 to 15.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011(‘the Act’).

I report in respect of my examination of the Trustee’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

On behalf of:

Edwin Smith Chartered Accountants 32 Queens Road Reading RG1 4AU

Signed:……………………….. Date: 9 November 2022 Philip J Nixon

8

ST JUDE'S TRUST STATEMENT OF FINANCIAL ACTIVITIES 5 April 2022 Unrestricted Funds Endowment Funds Total 5.4.22 Total 5.4.21 Nots8 Income.. Investment In¢ome Dividends and interest Income lax interest 48,066 48.066 40,508 Total 48,066 48,066 40,509 nditure: Charitable activities Governance costs 38,729 11,109 38,729 18,622 42,386 20.798 7,513 Total 49,838 7,513 57,351 63.184 Net gainslllosses) on investrnents 103,673 103,673 192,070 Net incomel{expenditurel for the year and net movement in funds 11,772 96,160 94.388 169,395 .Reconclliation of funds Total fun(Is broughl lo￿ard 6 April 2021 90,306 1,167.257 1,257,563 1,088,168 Total funds carried fonvard at 5 April 2022 12 88.534 1,263,417 1,351,951 1,257563 The notes on pages 1110 15 form part of these finanGÉal statements.

ST JUDE'S TRUST BALANCE SHEET 5 April 2022 5.4.22 5.4.21 Notes Fixgd assets Investments 1&7 1,321,765 1,223.193 Current assets Deblots Cash at bank and in hand 45 36,170 39,890 36,215 39,890 Creditors: Amounts falllng due within one year 10 16.0291 {5,5201 Net Current assets 30,186 34,370 Total assets less current Ilabilities 1,351,951 1,257.563 Funds of the charity Unrestricted funds Endowment funds 12 12 88,534 1,263,417 90,3 1,167,257 Total Funds 1.351,951 1,257,563 The financial statements have been prepared in accordance with the Charities Act 2011 and the Statement of Recommended Practice- Accounting and Repoiting by Charities IFRS 1021. Approved by the Board of Trustees on and signed W Duckett (Trustee) R Millman (Trustee) The notes on pages 11 to 15 form parl of these financial stalemenls. 10

ST JUDE'S TRUST NOTES TO THE ACCOUNTS AS AT S Aprll 2022 ACCOUNTING POLICIES Basls of accountlng The accounts (finan¢ial statements} have been prepared under the historical cost convention with items recognised at ¢osl or transaction value unless olhetwise slated in the relevant nolels} to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice.. A¢¢ounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard in the UK and Republic of Ireland IFRS 102) leffeclive January 2019) - (Charities SORP IFRS 102} and the Charities AGI 2011. The trust ¢onslilules a public benefit entity as defined by FRS 102. Preparation of the financlal statements on a golng eoncem basis The charity has a reasonable expectation that there are adequate resources to continue in operational existence for the fo￿Seeable future. It has therefore continued to adopt the going concern basis in preparing ils financial statements. Income Income 1$ recognised where there is entillemenl and there 15 suffi'cient Certainty of receipt so it is probable the amount will be received. and the amount of income can be rneasu￿d with sufficient reliability. Investment Income This is included in the accounts when receipt Is probable and the amount receivable can be measured reliably. Investment gains and losses This includes any realised or unrealised gains or losses on the sale of investments and any gain or loss resulting from revaluing investments to market value at the @nd of the year. Expenditure Resources expended are Included in the Statement of Financial Activities on an ac¢ruals basis and are allocated as follows: Charltable actlvltles Donations are those amounts paid to other charities for charitable purposes. These are included in the statement of Financial A¢￿vitIeS when approved by the Iruslees, Governance costs Governance costs include all expenditure not directly related lo the charitable a¢livilies. These costs are detailed in note 5 on page 14. Flxed Assel Investments Investments are a form of basic finarEcial instrument and are Initlally recognised at their transaction value and subsequently measured al their fair value as at the balance sheet date using the closing quoted market price. The statement of flnanclal 8Ctlvities includes the net gairES and losses arising on revaluation and disposals throughout the year. The Trust does not acqLfire complex financial instruments.

ST JUDE'S TRUST SCHEDULE OF INVESTMENTS AND INCOPJIE ARISING AS AT 5 April 2022 ACCOUNTING POLICIES Icontinuedl Funds structure Funds held by the charity are.. Enclowmenl funds- these are Capital funds invested to produce income. unrestr￿ted general funds- these are funds which can be used in accordance with the charitable objects at the disc￿li0n of trustees. Dèbtors Debtors are recognised at the settlement amount due. Cash at bank Cash at bank includes cash held al bank Cltrrent accounts and short term highly liquid investments hekl on the deposit aC￿￿nts. Creditors Creditors and provision are recognised as soon as there is a legal or constructive obligalK>n committing the Charity to that expenditure, it is probable that settlement is required and the amount of the obligation can be tneasured reliabiy. Financial instruments The charity accounts for basic fi'nancial instruments on initial recognition as per paragraph 10.7 FRS 102 SORP. Subsequent measurement is as per paragraphs 11.17 10 11.19, FRS 102 SORP. Taxatlon The Charity is exempt from lax on its charitable activities. LEGAL STATUS OF THE TRUST The St Jude's Trust is an unincorporated charity, governed by a declarat￿n of trust date 27 February 1961 and 22 June 1965 as amended on 29th June 2021. RELATED PARTY TRANSACTIONS The trustee, R Duckell, is also a trustee of the charity Henley YMCA to whom donations were made tolalling £1,000 12021 £1,000) during the year. During the year, she became a patron of the charity RAW Vvorkshop to whoTn a donation of £1.000 was made during the year. There were no other related paty transactions olhei than expenses reimbursd lo the three trustees, as detailed in note 5 page 14. The trustee, R Millman, is also a Consultant for Druces LLP, solicilors, to whlch fees were pald for administration services provided to the Charity lolalling £8.296 including VAT. He derives no benefit from the fees paid lo Druces LLP for such services. 12

ST JUDE'S TRUST SCHEDULE OF INVESTMENTS AND INCOME ARISING AS AT 5 April 2022 DONATIONS GoBeyond Mobility Trust Livability The Sequel Trust Birmingham Royal Ballet Henley YMCA Vljheelpower CGD Society Sane Make Them Smll@ The Respi18 ASSo￿all0n Team Oasis Versus Arthritis Brain Tumour Charity SOFA Project Independence at Ho PACE Sl Nicholas Parish Church St Mungo's St Luke's Healthcare for the Clergy Upton Couil Action Cerebral Palsy Lindengate Ed Guigonnet- GB Ski Training Fund Henley Music School Maylree Respite Centre Ltd Florence Nightingale Hospice Charity See Ability Slrongbones Charitable Trust Crimson UK MACS RAW Workshop 1,000.00 1,000.00 1,000.00 2,000.00 750.00 1.000.00 1,000.00 1.000.00 750.00 1.000.00 1,000.00 1,000.00 400.00 3,000.00 1,000.00 1,OUO.00 3,000.00 750.00 3,000.00 3,000.00 1,000.00 1,000.00 500.00 300.00 500.00 650.00 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00 1000.00 37,600.00 1.129.00 38,729.00 Donations lo individuals Total 13

ST JUDE'S TRUST SCHEDULE OF INVESTMENTS AND INCOME ARISING AS AT S April 2022 5. GOVERNANCE COSTS 5.4.22 5.4.21 Administrats'on charges Accountancy charges Trustee's expenses Nominee and safe custody charges 8,296 2,016 797 7,513 11,105 1,893 600 7.200 No staff were employed during the year. The trustees received remuneration but were reimbursed for expenses of allencling trustee's meetings and administration expenses amounting to £79712021.. £6001 NET GAINSIILOSSES) ON INVESTMENTS 5.4.22 5.4.21 Realised gain£l{losses) on carrying value Unrealised gainslllossesl 12,486 100,130 12,584 179,486 112,616 192 070 FIXED ASSET INVESTMENTS 5.4.22 5.4.2q Listed investments Carrying (fair) value al 6 April 2021 Acquisitions al cost Disposals at Carrying value Net gainl(losses) on revaluation 5 April 2022 1,223,193 208,315 1200,9291 91,186 1,026857 104,773 187,9231 179,486 Carrylng {falr} value at 5 April 2022 1321765 1223 193 Hlstorlcal Cost at S April 2022 860189 810 991 CASH AT BANK 5.4.22 5.4.21 Bank of Scotland Druces LLP J M Finn & Co- Income J M Finn & Co - Deposit 27,226 28,924 1,350 7,594 176 10,790 14

ST JUDE'S TRUST SCHEDULE OF INVESTMENTS AND INCOME ARISING AS AT 5 April 2022 9. DEBTORS 5.4.22 SA.21 Accrued income 45 45 10. CREDITORS 6.4.22 5.4.21 Trustee expenses JMFinn&Co Nominee and safe custody charges Professional fees 100 3,913 2,016 6,029 3,600 1,920 5,520 11. ANALYSIS OF FUNDS 6.4.22 5.4.21 Endowmènt funds Investments Cuirent assets 1,321,765 {58,3481 1,223,193 (55,9361 1263417 1167 257 Unrestricted funds Investments Current assets Current liabilities 94,563 {6,029} 95,826 (5,520} 88,534 90,306 Total funds 1351951 1257 563 12. MOVEMENT OF FUNDS Fund balances brou foThvard Fund balances carried forward Gains and Transfers losses Income diture Endowment fund 1,167,257 {7,513) 103,673 1,263,417 Unrestricted fvnd 90,306 48,066 149,838) 88.534 Total 1,257,563 48,066 {S7,351) 112,617 1,351,9S1 15

ST JUDE'S TRUST SCHEDULE OF INVESTMENTS AND INCOME ARISING AS AT S April 2022 Market Value asat S A ril 2021 Market Value asat ri12022 Income received Holdin Art¢mis High Income Fund Units 31,000 24,945.70 23,680.90 1166.66 Artgmls Fund Managers Income Trust Units Artemis Fund Managers global Incomg Trust Units Law Dgbenture Corp Ordinary share GBPO.05 27,000 0.00 30,558.60 1845.71 18,000 65,834.10 46753.20 846.32 3,500 28,245 240.63 BB Healthcare Trust PLC Ordinary 1 p shares BHP Group PLC Ordinary $0.50 shares 35,000 66,150.00 66,500 1930.25 1,500 31,020.00 44,467.50 3851.38 Big Yellow Group PLC Ordinary 10p Shares 2,000 22,680.00 30,800.00 752,00 Bluefleld Solar In¢ome Ordinary NPV 23,000 30,314.00 30,475.00 1846.9 Dun¢dln Income Growth Inv Trusts Ordinary Shaffs GBPO.25 8,000 23,440.00 24.120.00 1,024.00 Dlgltsl 9 Infrastructure plc Ordnary NPV 33,000 25.187.50 38,729.00 1245.00 Ecclesiastical Insurance Offl¢e 8.625% Non Cum £1 Pref Shares 18,333 28,324.49 26,307.86 1581.22 Experian Group PLC Ordinary $0.10 Shares 1,650 42,009.00 48,790.50 581.94 Flrst state Investments Global Listed Intrastruclure B Inc 13,000 27,145.30 455.77 Gre8ncoat UK WEnd PLC Ordinary 1p Shares 25,600 33,126.40 39,808.00 1838.08 GCP Infrastructure Invgstments Ltd Ordinary 1 p Sh8res 40.762 41,658.76 713.34 fwd 461,835.25 477,235.56 19,919.20 16

ST JUDE'S TRUST SCHEDULE OF INVESTMENTS AND INCOME ARISING AS AT S April 2022 Market Value asat 5A 1112 arket Value asal ril 2022 Income received Holdin blfvid 461,835.25 477,235.56 19,919.20 Glaxo Smithklinè PLC Ordinary 25p Shares 1,069 13,657.64 18,213.62 855.20 Premier Portfollo Managers 9,000 19,251.00 313.08 Legal & General Group PLC Ordinary 2.5p Shares 10,080 28,576.80 27,488.16 1796.25 Lloyds Banking Group PLC 9.25°A preference Shares 15,000 23,520.00 23,317.50 1387.5 LlonTrust fund Partners LLP ASIA Income INSTL INC 13,000 19.797.05 28,948.00 806.48 Franklin Tgrnpleton Funds INC X GBP Inc 28,500 33,288.00 40,413.00 1639.15 M&G Se¢urities Ltd Global Dividend I Inc 13,000 33,806.50 38,629.50 1019.22 Marston's PLC Ordinary 7.375p Shares 6,300 6224.40 5017.95 Ml Twenty Four Dynamic Bond Units 140 15,999.98 14,770.39 612.96 Murray Internatlonal Trust Ordinary 25p Shares 1,900 22,724.00 807.50 CG portlolio fund PIC The Dollar Inc 150 25,971.00 Natlonal Grld Ordinary Shares GBP 0.12431289 2,100 18133.50 25,431.00 1036.77 Pgnnon Group Ordinary 40.7p Shares 2.600 25,511.20 JP Morgan Amerlcan Investment Ordinary GBPO.05 3,200 24,704.00 ReckStt Benckiser Group PLC Ordinary 10p Shares 335 21,764.95 19,959.30 584.91 724,839.17 789,349.98 30,778.22 17

ST JUDE'S TRUST SCHEDULE OF INVESTMENTS AND INCOME ARISING AS AT 5 April 2022 Market Value asat ril 2021 Market Value asat ril 2022 Income recelved Holdin blfwd 724.839.17 789,349.98 30,778.22 Relx PLC Ordinary 14.44p Shares 1,700 49,545.00 41,565.00 1287.9 RIT Capital Partners PLC Ordinary £1 Shares 1.650 39.517.50 41,827.50 581,62 Rlo Tinto PLC Ordinary 1 Op Shares 800 43,840.00 48,960.00 5541,84 Royal Dutch Shell B'shares 2,104 28,096.82 44,625.84 1388.22 Segro PLC Ordinary 10p Shares 2.200 39,509.19 30,283.00 941.29 SVS Church House Investment Units 39,660 47,870.19 45,768.18 1079.95 Syncona Limited Ordinary NPV 2D,000 49,300.00 33,320.00 Treasury Stock 2.5 Index-Linked Stock 2024 1.25 Index-Linked Stock 2027 £5,000 £12,500 42,780.00 24,856.14 18,628.00 26,180.23 959.53 243.50 TM Crux European Special Situations I Inc 18,500 43,728.45 43,328.85 609.60 Unilever PLC Ordinary 31.111 p Shares 1,350 54,297.00 47,742.75 1971.41 A$trazen¢a Ordinary shares 290 29,968.60 421.38 Verlion Communl¢atlons stk$O.10 276 11,681.31 11,139.02 432.26 The Renewables infrastructure PIC GBP Ordinary NPV Vanguard Funds PLC S&P 500 ETF INC NAV 30.000 41,040.00 1521.00 425 23,331.97 28.037.78 308.27 1,223,192.74 1,324,764.73 48,065.99 18

ST JUDE'S TRUST SCHEDULE OF INVESTMENTS AND INCOME ARISING- INVESTMENTS SOLD AS AT 5 April 2022 Holdin In 05.04.2021 Proceods Reallsed Galn I Lo55 Artemls Fund Managers Income 9.000 21944.7 22,221.68 276.98 Bluefleld Solar In¢ome fund Qrdinary Shares 4.600 o.oo O.OD 0.00 First Senltler INVRS Ordinary Shares $0.5 Shares 13,000 27145.30 28,215.99 1070.69 CGP Infrastructure Investment 40,762 41,658.76 40,015.09 11643.67) Greencoat UK Wind PIC Ordinary GBP 0.001 Sharess 1.969 0,00 0.00 0.00 Murray Internatlonal Trust 1.900 22,724 21.391.55 11332.451 Pennon Group Ordinary GBPO.407p Shares 2600 25,511.20 29,438.46 3,927.26 RELX PLC GBPa.1444 1000 18350.00 21,801.09 3,451.09 SEGRO PLC ORD GBPO.10 1965 18639.99 25,102.12 6,462.13 Unlted Klngdom Treasury 2.5 /• Index Ilnked 7,000 24955.00 25,228.94 273,94 200,928.95 213,414.92 12,485.97 19