REGISTERED CHARITY NUMBER: 239198
REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023
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 2023
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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 2023
The trustees present their report with the financial statements of the charity for the year ended 5 April 2023. 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
Grants were temporarily suspended during the year under review. 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 2023 amounted to £975,352. This was after a decrease in market value of £61,668.
.
Reserves policy
The trustees consider that overall reserves at 5 April 2023, 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.
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THE JARMAN CHARITABLE TRUST
REPORT OF THE TRUSTEES for the Year Ended 5 April 2023
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
Ms S M Chilton Mr A Davis Mr A Davis 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
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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 2023.
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:
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accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
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the accounts do not accord with those records; or
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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: .............................................
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THE JARMAN CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 5 April 2023
| Notes INCOME AND ENDOWMENTS FROM Investment income 2 EXPENDITURE ON Other Net gains/(losses) on investments NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted fund £ 53,398 810 - 52,588 187,406 239,994 |
Endowment fund £ - - (61,668) (61,668) 1,038,020 976,352 |
2023 Total funds £ 53,398 810 (61,668) (9,080) 1,225,426 1,216,346 |
2022 Total funds £ 47,535 804 67,050 113,781 1,111,645 1,225,426 |
|---|---|---|---|---|
The notes form part of these financial statements
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THE JARMAN CHARITABLE TRUST
BALANCE SHEET 5 April 2023
| 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 £ - 242,422 (2,428) 239,994 239,994 239,994 |
Endowment fund £ 975,352 1,000 - 1,000 976,352 976,352 |
2023 Total funds £ 975,352 243,422 (2,428) 240,994 1,216,346 1,216,346 239,994 976,352 1,216,346 |
2022 Total funds £ 1,037,020 190,025 (1,619) 188,406 1,225,426 1,225,426 187,406 1,038,020 1,225,426 |
|---|---|---|---|---|
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
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THE JARMAN CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 5 April 2023
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.
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.
2. INVESTMENT INCOME
| Income from unit trusts Interest |
2023 £ 52,870 528 53,398 |
2022 £ 47,485 50 47,535 |
|---|---|---|
continued...
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THE JARMAN CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 5 April 2023
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 5 April 2023 nor for the year ended 5 April 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 5 April 2023 nor for the year ended 5 April 2022.
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Investment income EXPENDITURE ON Other Net gains on investments NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 5. FIXED ASSET INVESTMENTS MARKET VALUE At 6 April 2022 Revaluations At 5 April 2023 NET BOOK VALUE At 5 April 2023 At 5 April 2022 |
Unrestricted fund £ 47,535 804 - 46,731 140,675 187,406 Listed investments £ 1,007,020 (61,668) 945,352 945,352 1,007,020 |
Endowment fund £ - - 67,050 67,050 970,970 1,038,020 Unlisted investments £ 30,000 - 30,000 30,000 30,000 |
Total funds £ 47,535 804 67,050 113,781 1,111,645 1,225,426 Totals £ 1,037,020 (61,668) 975,352 975,352 1,037,020 |
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|---|---|---|---|---|---|---|
There were no investment assets outside the UK.
continued...
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THE JARMAN CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 5 April 2023
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Other creditors 7. MOVEMENT IN FUNDS Unrestricted funds General fund Endowment funds Unrestricted Endowment TOTAL FUNDS Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 53,398 Endowment funds Unrestricted Endowment - TOTAL FUNDS 53,398 Comparatives for movement in funds Unrestricted funds General fund Endowment funds Unrestricted Endowment TOTAL FUNDS |
At 6.4.22 £ 187,406 1,038,020 1,225,426 Resources expended £ (810) - (810) At 6.4.21 £ 140,675 970,970 1,111,645 |
2023 £ 2,428 Net movement in funds £ 52,588 (61,668) (9,080) Gains and losses £ - (61,668) (61,668) Net movement in funds £ 46,731 67,050 113,781 |
2022 £ 1,619 At 5.4.23 £ 239,994 976,352 1,216,346 Movement in funds £ 52,588 (61,668) (9,080) At 5.4.22 £ 187,406 1,038,020 1,225,426 |
|---|---|---|---|
continued...
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THE JARMAN CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 5 April 2023
7. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Endowment funds Unrestricted Endowment |
Incoming resources £ 47,535 - |
Resources expended £ (804) - |
Gains and losses £ - 67,050 |
Movement in funds £ 46,731 67,050 |
|---|---|---|---|---|
| TOTAL FUNDS | 47,535 | (804) | 67,050 | 113,781 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Endowment funds Unrestricted Endowment TOTAL FUNDS |
At 6.4.21 £ 140,675 970,970 1,111,645 |
Net movement in funds £ 99,319 5,382 104,701 |
At 5.4.23 £ 239,994 976,352 1,216,346 |
|---|---|---|---|
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 |
Incoming resources £ 100,933 - |
Resources expended £ (1,614) - |
Gains and losses £ - 5,382 |
Movement in funds £ 99,319 5,382 |
|---|---|---|---|---|
| TOTAL FUNDS | 100,933 | (1,614) | 5,382 | 104,701 |
continued...
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THE JARMAN CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 5 April 2023
8. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 5 April 2023.
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THE JARMAN CHARITABLE TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 5 April 2023
| INCOME AND ENDOWMENTS Investment income Income from unit trusts Interest |
2023 2022 £ £ 52,870 47,485 528 50 |
|---|---|
| 53,398 47,535 |
|
| Total incoming resources EXPENDITURE Support costs Governance costs Accountancy and legal fees |
53,398 47,535 810 804 |
| Total resources expended | 810 804 |
| Net income before gains and losses Realised recognised gains and losses Realised gains/(losses) on fixed asset investments |
52,588 46,731 (61,668) 67,050 |
| Net (expenditure)/income | (9,080) 113,781 |
This page does not form part of the statutory financial statements
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