**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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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 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.
Page 1
**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
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 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:
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 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
Page 4
## **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
Page 5
**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...
Page 6
**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|
|---|---|---|---|---|---|---|
There were no investment assets outside the UK.
continued...
Page 7
**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...
Page 8
**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...
Page 9
**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.
Page 10
**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
Page 11