**REGISTERED CHARITY NUMBER: 239198**
**REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2021**
## **FOR**
**THE JARMAN CHARITABLE TRUST**
Bernard Rogers & Co Bank Gallery High Street Kenilworth Warwickshire CV8 1LY
**THE JARMAN CHARITABLE TRUST**
## **CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 5 April 2021**
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Page
Report of the Trustees 1 to 2
Independent Examiner's Report 3
Statement of Financial Activities 4
Balance Sheet 5
Notes to the Financial Statements 6 to 10
Detailed Statement of Financial Activities 11
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**THE JARMAN CHARITABLE TRUST**
## **REPORT OF THE TRUSTEES**
## **for the Year Ended 5 April 2021**
The trustees present their report with the financial statements of the charity for the year ended 5 April 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The trustees may at their discretion:
(i) Appropriate or undertake to pay to or for the benefit of any charitable object, charitable purpose or charitable institution, the income of all or part of the trust fund or any fixed or ascertainable sum payable out of such income during any period fixed or ascertainable, and with or without any trusts or conditions of an exclusively charitable nature attached thereto.
(ii) Raise and pay out of the capital of the trust fund any sum of money or transfer any investments forming part thereof to any charitable institution or to any persons as trustees, for any such institution or for any charitable object or charitable purpose in such manner and upon such trusts and conditions (being of an exclusively charitable nature) as the trustees may determine.
Applications for financial assistance are considered by the trustees at meetings held in Spring and Autumn. Most beneficiaries are connected in some way with the Birmingham area.
There have been no major changes in organisation during the year.
The power of appointing new trustees is vested in the existing trustees.
There are no restrictions on the charity's power to invest.
## **Public benefit**
The trustees have had regard to the Charity Commission's guidance on public benefit.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
During the year the trust has assisted 123 organisations issuing grants totalling £37,700. The trustees consider the trust to be a public benefit entity and consider its grant making activity to be for the public benefit.
## **FINANCIAL REVIEW**
## **Investment policy and objectives**
Investments are selected with the aim of generating a reliable real income over the long term with minimal management requirement by the trustees.
Details of investment assets are shown in note 5 to the accounts. The market value of investment assets at 5 April 2021 amounted to £969,970. This was after an increase in market value of £174,505.
## **Reserves policy**
The trustees consider that overall reserves at 5 April 2021, will ensure that, in the event of a significant drop in income, they will be able to continue the charity's objectives at similar levels of activity during the forthcoming year.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
The trust was established by a charitable trust deed on 24 November 1964.
Page 1
**THE JARMAN CHARITABLE TRUST**
## **REPORT OF THE TRUSTEES for the Year Ended 5 April 2021**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment and appointment of new trustees**
New trustees are selected and appointed by the existing trustees. In any such selection due consideration would be given to the current needs of the charity and the aims of its founder.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 239198
## **Principal address**
52 Lee Crescent Edgbaston Birmingham West Midlands B15 2BJ
## **Trustees**
Dr G M Jarman (resigned 14.6.21) Ms S M Chilton Mr A Davis (appointed 14.6.21) Mr A Davis (appointed 14.6.21) Ms I Davis (appointed 18.10.22) Mr C Davis (appointed 18.10.22)
## **Independent Examiner**
Bernard Rogers & Co Bank Gallery High Street Kenilworth Warwickshire CV8 1LY
## **Bankers**
Santander Bridle Road Bootle Merseyside L30 4GB
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ Ms S M Chilton - Trustee
Page 2
**INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE JARMAN CHARITABLE TRUST**
## **Independent examiner's report to the trustees of The Jarman Charitable Trust**
I report to the charity trustees on my examination of the accounts of The Jarman Charitable Trust (the Trust) for the year ended 5 April 2021.
## **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 Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the 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:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
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.
D Rogers
Bernard Rogers & Co Bank Gallery High Street Kenilworth Warwickshire CV8 1LY
Date: .............................................
Page 3
## **THE JARMAN CHARITABLE TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 5 April 2021**
|Notes
**INCOME AND ENDOWMENTS FROM**
Investment income
2
**EXPENDITURE ON**
**Charitable activities**
Grant making
Other
**Total**
Net gains/(losses) on investments
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
fund
£
41,732
38,510
-
38,510
-
3,222
137,453
140,675|Endowment
fund
£
-
-
-
-
174,505
174,505
796,465
970,970|2021
Total
funds
£
41,732
38,510
-
38,510
174,505
177,727
933,918
1,111,645|2020
Total
funds
£
53,867
36,103
786
36,889
(216,438)
(199,460)
1,133,378
933,918|
|---|---|---|---|---|
The notes form part of these financial statements
Page 4
## **THE JARMAN CHARITABLE TRUST**
## **BALANCE SHEET 5 April 2021**
|Notes
**FIXED ASSETS**
Investments
5
**CURRENT ASSETS**
Cash at bank
**CREDITORS**
Amounts falling due within one year
6
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
7
Unrestricted funds
Endowment funds
**TOTAL FUNDS**|Unrestricted
fund
£
-
142,294
(1,619)
140,675
140,675
140,675|Endowment
fund
£
969,970
1,000
-
1,000
970,970
970,970|2021
Total
funds
£
969,970
143,294
(1,619)
141,675
1,111,645
1,111,645
140,675
970,970
1,111,645|2020
Total
funds
£
795,465
139,262
(809)
138,453
933,918
933,918
137,453
796,465
933,918|
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. Ms S M Chilton - Trustee
The notes form part of these financial statements
Page 5
**THE JARMAN CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 5 April 2021**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
The charity is a public benefit entity.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
The Endowment Fund is an unrestricted fund.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
## **Investments**
Fixed asset investments are valued at their year end market value. Gains and losses arising on the revaluation or disposal are credited or charged to the respective fund.
continued...
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**THE JARMAN CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 5 April 2021**
## **2. INVESTMENT INCOME**
|Income from unit trusts
Interest|2021
£
40,935
797
41,732|2020
£
52,885
982
53,867|
|---|---|---|
## **3. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 5 April 2021 nor for the year ended 5 April 2020.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 5 April 2021 nor for the year ended 5 April 2020.
## **4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|**INCOME AND ENDOWMENTS FROM**
Investment income
**EXPENDITURE ON**
**Charitable activities**
Grant making
Other
**Total**
Net gains/(losses) on investments
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
fund
£
53,867
36,103
786
36,889
-
16,978
120,475
137,453|Endowment
fund
£
-
-
-
-
(216,438)
(216,438)
1,012,903
796,465|Total
funds
£
53,867
36,103
786
36,889
(216,438)
(199,460)
1,133,378
933,918|
|---|---|---|---|
continued...
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**THE JARMAN CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 5 April 2021**
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5. FIXED ASSET INVESTMENTS
Listed Unlisted
investments investments Totals
£ £ £
MARKET VALUE
At 6 April 2020 765,465 30,000 795,465
Revaluations 174,505 - 174,505
At 5 April 2021 939,970 30,000 969,970
NET BOOK VALUE
At 5 April 2021 939,970 30,000 969,970
At 5 April 2020 765,465 30,000 795,465
There were no investment assets outside the UK.
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£ £
Other creditors 1,619 809
7. MOVEMENT IN FUNDS
Net
movement At
At 6.4.20 in funds 5.4.21
£ £ £
Unrestricted funds
General fund 137,453 3,222 140,675
Endowment funds
Unrestricted Endowment 796,465 174,505 970,970
TOTAL FUNDS 933,918 177,727 1,111,645
Net movement in funds, included in the above are as follows:
Incoming Resources Gains and Movement
resources expended losses in funds
£ £ £ £
Unrestricted funds
General fund 41,732 (38,510) - 3,222
Endowment funds
Unrestricted Endowment - - 174,505 174,505
TOTAL FUNDS 41,732 (38,510) 174,505 177,727
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continued...
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**THE JARMAN CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 5 April 2021**
## **7. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|**Unrestricted funds**
General fund
**Endowment funds**
Unrestricted Endowment
**TOTAL FUNDS**
Comparative net movement in funds, included in the above are as
Incoming
resources
£
**Unrestricted funds**
General fund
53,867
**Endowment funds**
Unrestricted Endowment
-
**TOTAL FUNDS**
53,867|At 6.4.19
£
120,475
1,012,903
1,133,378
follows:
Resources
expended
£
(36,889)
-
(36,889)||Net
movement
in funds
£
16,978
(216,438)
(199,460)
Gains and
losses
£
-
(216,438)
(216,438)|At
5.4.20
£
137,453
796,465
933,918
Movemen
in funds
£
16,978
(216,438)
(199,460)|
|---|---|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
|At 6.4.19
£
**Unrestricted funds**
General fund
120,475
**Endowment funds**
Unrestricted Endowment
1,012,903
**TOTAL FUNDS**
1,133,378|Net
movement
At
in funds
5.4.21
£
£
20,200
140,675
(41,933)
970,970
(21,733)
1,111,645|
|---|---|
continued...
Page 9
**THE JARMAN CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 5 April 2021**
## **7. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Endowment funds**
Unrestricted Endowment
**TOTAL FUNDS**|Incoming
resources
£
95,599
-
95,599|Resources
expended
£
(75,399)
-
(75,399)|Gains and
Movement
losses
in funds
£
£
-
20,200
(41,933)
(41,933)
(41,933)
(21,733)|
|---|---|---|---|
## **8. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 5 April 2021.
Page 10
**THE JARMAN CHARITABLE TRUST**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 5 April 2021**
|**INCOME AND ENDOWMENTS**
**Investment income**
Income from unit trusts
Interest|2021
2020
£
£
40,935
52,885
797
982|
|---|---|
||41,732
53,867|
|**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Postage and stationery
Grants payable|41,732
53,867
-
203
37,700
35,900|
|**Support costs**
**Governance costs**
Accountancy and legal fees|37,700
36,103
810
786|
|Total resources expended|38,510
36,889|
|**Net income before gains and losses**
**Realised recognised gains and losses**
Realised gains/(losses) on fixed asset investments|3,222
16,978
174,505
(216,438)|
|**Net income/(expenditure)**|177,727
(199,460)|
This page does not form part of the statutory financial statements
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