Nottingham Cleryy Association Or Johnson Fund Trustees. Report and Financial Statements For the yeargnded 30 Septsmber 2024 Charity No 238693 Nottingham Clergy Association or Johnson Fund Report of the Trustees for the year ended 30 Septsmber 2024 Contsnts Page Legal and Administration InfOrn￿￿'on Trustees, Report 14 Independant Examinerfs Report Statsment of Financial Acbvibes Balance Sheet Notes forrning part of the Financial Ststem 9-11 Nottingham Clergy Associatlon or Johnson Fund Report of the Trustses for the year ended 30 Septsmber 2024 The Trustees pr6sent their report and firBnctal statements for th6 year ended 30th Septemb6r 2024 Reference and Admlnistrnllve inforn)ation Charity Name Charity Number Operational Address & T￿￿1 Office . Notfjngham Clergy Association or Johnson Fund 238693 Allson House 25 Derby Road Nottingham NG15AW Trustee8 Canon E Jarosz Rev G Tobin Rev C O'connor Canon Geoffrey Hunton se￿etary of the Trust Administrator of the Trust Rev C O'connor Rev G Tobin Independent Examiner6 Foxwise Accountsncy Ltd. 228 Burton StsBe( Melton IADwtrx8y. Leics LE13 1AF Bankars Lloyds TSB Bank Plc, Old Market Square, Nottingham Solicltors Massers, 15 Victoria Stre&, NottI￿h8rn NG12JZ Investment Advl8or5 Quilter Cheviot Inve5trnent manag￿ent Ltd, 90 Long Acre, London WC2 9RA Nottingham Clergy Association orJohnson Fund Report of the Trustses for the year ended 30 September 2024 Structure, Govemance and Managem&nt Goveming Document The Charity is govemed by its Trust Daed dated 23 September 1966. The structure of Charity 18 by way of the Trustees who are detailed at#)v8 and the day to day running is carr*d out by the Administrator of the fund. Retlrement and Appolntment of TTUStee8 The appointmènt of the TnEtees is govemed by trust Deed of the Charity. The Board of Trustees is authorized to appoint nw Trustees to fill vacsnc4es arising through resignation or death of an existing Tnjstee. The Truste8s remain in office until they resign or until death intsNenes. Trustees Induction and Trainlng New Trustees are usually fami￿ar wth the objects of the Chaiity, but arg invited to fully acquaint th8rns61ves with the detailed W￿rk of the Trust and the context within whith st operates by discu58iCn With the existing Trustees. This covers the Trust Deed" The resources and current postlion as Set oul in the latest published accounts" and future pEans and 0￿ectives. Risk Managément The Twstees adiveSy review the major risk whK* the Charity faces ¢)n a regular basis and believe that maintaining reserves at curTrnt levets, combined with an annual review of the o)ntrols of the key financial systems. wdl provide sufficient resources in the event of adverse conditions. The Trustees have also exarnined other operational and business risks faced by the Charity and u)nfimi they have established systems to mitigate the signiftanl risks. Organlsatlonal Structur& The day to day running of the Tnjsl is in the hands of the Administrator. The Trustees evaluate half yearfy reports from their Investment Advisors 8nd meet with them as ne￿Ssary, and revithv the nvestrnent rthfolio. The Investment Advisors do not have 8 discretionary mandate with regard to th8 daaling of inv&8tments but are required to follow broad instruct￿8 wth fegard to funds not deemed approyiate to the Trusts, objecthve& Objectives and Actlvtties The aims and objects of the Twst are solely for relief aTKI rnaintenan￿ of superannuated, sick or disabled secular dergy ordained tr or affiliated to the DI0￿$e of Nottingham. Nottingham Clergy Association or Johnson Fund Report of the Trustees for the year ended 30 September 2024 Achlevemerts and Performance Th6 Trustees k8ep thetr policy for donations and grants constantly under revi8W and deal as they feel appropriate wth all requests for SUPDOrt and help. During the year the Trust rnade 60 donationslgrants totalling £20844.49 (Year 2023, £24386.25) ranging from £25.80 to £1400.00. Flnanclal Revlew The policy of the Charity continues to maximise its income from current investments and make grants and dofiati0rn8 In accordance wtth its obj￿tives. The Charity shows a small increase in fvnd8 priorto the unrealized profit on revaluation of investrnent a88ets. The net increase in overall funds after providing for this unrealis8d loss was £39781 Overheads 8￿1 spending are minimal. Prlnclpal Funding Sour¢e6 The trust does not actually fund-raise, relying on the income generated from its investments, which is supplemented by donations frorn persons having an affinity with the Romsn Catholic DI0￿Se of Nottingham. Reserves Policy It is the FK)licy of the Charity to maÉntain unrestricled funds at 8 levef whth 6quat88 to in excess of twelve months unrestricted expenditure. The provides sufficient funds to cover management and administration costs together with its SUPPQrt expenditure and currently stand al o)nsider8bly in excess of this requirement, Investment Policy In accordan￿ wtlh the trust Deèj the ￿opertY of Chaiity is adMiniste￿d and managed in the name of the Trustees who are authorized to make and hold investments using general funds of the Chaiity. Capital Commitments There were no capital commitments at 30 September 2024. Plans for Future Years It is not anticipat8d that there will any major changes in the 8Ctivities of the fvnd in the foreseeable frrture, and the donatMj￿IgrnnEs made by the trust wi15 be commensurate wrth the reserves available. Nottingham Clergy Association orJohnson Fund R8POrt of the Trustees for the year endad 30 Septsmber 2024 statement of Trustees, responsibilities The Trustees are required under the Charitses Act 1993 to prepare financial ststements for each financial year which gNe a true and fair view of the Chari:y'8 financial activities during the year and of ts financial position at the end of the year (unless the Charity is entitled to prepare attounts on the 8ltemative receipts and payments basis). In preparing finanoal Stat￿￿ts giving a truè and fair view, the Trustees should follow best praclice and: a) Select suitable accounting policies and apply them consistently. b) Make judgments and eslimates that are reasonable and pThJdent. c) Follow applicable a(xounting stand8rds and Charities SORP disclosing 8nd axplaining any departures in the a&7)utts. and d) Prepare the finanaal statements on a going Cor￿ basis unless it is inappropriale to presume that ts Chaiity will a)ntIn￿ in operation. The Trustees are responsible for keeF4ng accounting records which are such as to disclose ￿￿th reasonable accuracy the financial p)srtion of Charity at any time and io en8ble them as Tru8tees to ensure that the accounts comply with Charity Law. The Trustees are also ￿sponsible for safeguarding the Charitvs assets and ensuring their proper application in 8CO)tdance viith Charity Law and hen￿ for taking reasonable steps for th8 prevention and detection of error, f￿ud and other Irregularities. Aoproved by the Trustees on and sign8d Dn their behalf by C. LfLC C O'connor Trust￿ and Secretsry G Tobin - stee and Administrator Independent Examinar's Reporton the Accounts of Nottingham Clergy Association or Johnson Fund We have examined the r[nar￿la1 Statements of tha al)ove TNst for the year ended 30 September 2024 on the following pages ￿lch have been prepared under th8 historical cost ￿nVentiOn as modified by revaluation of fixed investment assets and the accounting policies set out on page 9 Respective Responsibilities of Tru8tse8 and Examiners The Charities Trustees consider ￿t an audit under S43(2) of The Charity's Act 1993 (the Act) and that an lIndep￿dent examiT)ation is required It is our responsibility to; Examine the acwurrts {under Section 43 of the Act) ,' To follow the pr￿edureS laid down by the General directions given by the Charity Commission (und6r Section 43 {7) (b) of The Act) And To stats whether any part￿￿lar matters have come to our attention. Bas￿ of Independgnt Examlne¢s Report Our examination was carried oul in accnrdance wth General Directions given by the Charity Commissioners. An examination indudes a r8view of the aco3unting record5 kept by the Cha]Ity and a (x)mparison of the accounts presented with those records. It dso indudes ￿SIderatIOn of any unusual items or disclosures shown in the accounts, and sed(ing explanations from the Trustees conceming and such matters. The procedures undertaken do not prowde all the evlden that would be required in an audit, and t>)nsequenty wè do not express any audit opinton cm the accounts. INDEPENDENT EXAMINER'S REPORT ON THE ACCOUNTS OF NOTTINGHAM CLERGY ASSOCIATION OR JOHNSON FUND Independent Examinerfs statement In the course of our examination no matter has (y)me to our attention {1) which gives us reasonable cause to believ8 that in any m8lerial respect, the Trust8es have not met the requirements to ensure th8L proper accounting records are kept in a¢cLYdance with s￿l0n41 of the Act and accounts are prepared whth agree ￿ryth ac£ounll￿ records and o)mply wth th8 acwunting requirernwts of ￿ ACL or (2) to which In our opinion, altention should be drawn, in order to enable a proper understanding of the accounts to be reathed Foxw88 A[x￿nIanGY Ltd 228 Burton Street Melton Mowbray Leic8 LE13 1AF Date . 31712025 Nottingham aergyAsso(labon orjohnson Fund ststement of FIna￿l01 Acli¥lties R*the Ye8r Ended 30S¢ptember 2024 Unrestrltted Fun 2024 2023 Note5 IncomlnE Resources Incomlng Resources from Generated Funds Voluntary Income 501 120 Investment Income 24997 27912 Totsl Incomln8 Resour 25498 28D32 Re50urces Expensed Cost ol GeneraUn8fiJnds Charitable Activitles Governan¢e Costs 24386 4454 4296 Total Resources ExP￿ded 25141 28840 Net Incornlng ReS¢)Ur￿ before othw Rec00gnb￿ GalnsllLoty 357 -808 Other Remgnlsed Golns/lLosses} Galns/lL05S2s) on Sales and Revaluation of InvesiThents 39425 42495 Nèt Movernent In Funds 39782 43303 RÈcondllatlon of Rmds Funds Brought ForyArd 585049 628352 Total Funds Cattied Fon¥ard 624831 585049 The Staternent of Financial Activities includes all galns and losses In theyear. All Intoming Reoul￿5 and Resourw expenses dertve from continuing actlvities The notes on page$ 9 to 11 ffxm partof these accounts pknttlngham aergyA5S(Kiatlpn or John5Dn fvnd Balan￿ Sheetasa% 30 sept￿￿s 2024 Notes 2024 2023 Flxed Assets Investments 6 553963 514985 Current Assets Bank 71156 70065 71156 70065 Credltors- talllng due wllhln ¢Meyear 287 Net Current Assets 70869 70065 Net Assets 624831 585050 Totsl Funds Unrestrlrted -Gwwal Fund 9 624831 585049 Approved by IheTrustees on and swied forontheir behalf C Q'connor Trustee GTobin Trustee The note$ on pages 9t0 11 form part of the*accounts NOTTINGHAM CLERGY ASSOCIATION OR JOHNSON FUND NOTES AND ACCOUNTING POLICIES FOR THE YEAR ENDED 30 SEPTEMBER 2024 I. ACCOUNTING POUCIES 1.1 Basis of Accounting The financi81 statements have been prepared under the historThl cost convention, 8s modified as the revaluation of fixed investment assets and in accordance with the Financial Reporting Stsndard for Srnaller Entities (effective Awil 2008) and the Statsmant of Recommended Practirts . Accounting and Report5ng by Charitie8 issued In March 2005. 1.2 Fund Accounting Unrestricted funds are a￿lIable for use at the dis(xetion of the Trustees in furtherance of the general objectives of the Charity. Unrestiicted funds include unrealised gains on revaluation of fixwj ass￿ investments. 1.3 Incoming ResourcRs All incoming r@8ources are incauded in the Statement of Financial Activities when the Charity is entitled to the incorne and the amount can be quantified with reasonatsl8 accur8cy.The follLAvirwJ specific policies are applied to particular categories of Ir￿0m8. Voluntary ir￿c￿e 18 Trcglved by way of M don8llms and gfts arKI IB fijll in the Statem￿* of Finanwl AcaivitEs when receNth. Grants, where entilthent Is not cKJndTtion81 on fhe delivery of a S[wif￿ ￿rfo￿an(* by th8 ch￿lty. are recogni5oJ whan the Chaflty 18 unconditionally entiued to Ihe Inv65trn8nl income is *Kluded receivthb. 1.4 Resources Expended Expenditure is recognised (Th 8n acuual basis as a liability incurred. Costs of generating funds oxnprise the ujsts a&8ociated with attracting vcAuntary income.- Charitable expendrture ￿MpriseS tI￿se costs incurred by the Charlty in the deliw of its activitses and servi￿$ for its bèneficiaries. It includes both costs that can be allocated directly to such activities and those o)sts of an indirect nature necessary to 8UPPOrt them Govemance costs indude those ￿$ts associated wth meeting the constilutiona and ststutw reqU1￿ments of the Charity and include the examinefs fees and costs finked to the sttBtegic management of tha Charity. All costs are allocated between the expenditure categories of the SOFA on a basis designed to refie¢t the use of the resouftx. Costs r8lating to a partI￿lar aclivity are allccated directly. 1.6 Tangible FiTrJ Assets fc* Use By the Chaiity Investment assets are stated at valuatM)n values. NiJttln8ham Cler8yASsoda￿0n orjohnson Fund Notes and Actountln8 Polkjesywr ended 30September 2024 2023 2 Donatlons G1ft5- Unyewlrted Donations Legacies 51x1 5Di 120 3 Investment Inc(xne Capltsl return of fixed term deFK)sIts Income from Ilsted investrneitts 24997 24997 27912 27912 4 Total Regourcos Eypended Costs Allocated to Acimtles knvestynent 2024 20844 288 4008 2023 24386 324 4129 Grants and l)on4tlons Independent Examlner Investment Management Sundry Expenses 4(M)8 25141 28839 5 Net Incomln£ Reswrces14x the Independent EKaminefs Fees 2024 287 2023 240 6 Intanzlble Flxed knets Investrnents115ted at I￿rke1valUe Openlng Balance Purchases Sales Increase/{Decrea5e) In unreali5ed profits aoslng Ba1￿ce 2024 2023 514985 545451 14364 184360 -14811 .172331 39425 42495 553963 514985 Cost of Investh)ents held OTr JO September 2024 533943 537873 2024 2023 7 Credltors-Amounts falllng due *lthln I¥￿V Accrua15 288 8 Analysls of Net Assets between FuThts Inve5tment5 Net Current Assèts 2023 553963 514985 71156 70065 625118 585050 9 Movemtht In Funts 014kn Incomeiendlture a￿sep 2023 2024 585049 25498 14284 624831 UnrestrICt￿l- GeneTal Fund io Nottknghwn cler￿A$S[1d￿N orjohnson Notes andA¢¢ountlnB Polkle5 Year4nded XIS•pt8Nts2024 D￿￿0￿1￿2[￿10wjTr8Y￿sW W• ￿￿9¢￿￿8((￿￿) enteTed thto byth• tharfty; Canon G blunton1£263L72)TheReY GTObI￿ (f58%W.The5e wwaawarded onthesima basls Ind tylterfg whlth app￿￿trI￿ants ttraryqualtyylnglthld￿ No otherTfurtw oi anyotherp2rson related to the ch9thh￿1nvpey$0Tra1 8Dy lrtobythe ¢hailtyfoTtheyegT. 11 Ta￿110¥) As? thprmy PknthghmClerByAssoththMorJoluwn FwAdb•xffjtfrom ts No tsjt thar&es hev¥¥rLgth In ih•Charfty.