J A R CHARITABLE TRUST REPORT AND FINANCIAL STATEMEKf8 for th• year ond•d 5th Aprll 2024 Hunters Law LLP 9 New Square Lincoln's Inn London WC2A 3QN SEC.WVM.35731-1
J A R CHARrrABLE TRUST ACCOUNT8 FOR THE YEAR ENDED 5Th APRIL 2024 Contsnts Pag• IndgP8ndent examlnerfs report Tru8te8s' Report 24 Balance Sheet ststement of Flnanclal Advllles Don8tlon8 Investments 111 Investment Changes 12 Notes to the Accounts 13-14
Ind&pendent Examlners Report to the Tru5ts9$ of J A R Charitable Trust I report on the accounts of lh• Trust ft>r tho y•ar ended 5 Aprll 2024 Resp8ctiv8 responsibrlities of tnjstees and examiner The charity's InJst8es are responsible for the preparation of tho accounts. The ¢hariVs trustees consider that an audit is not required for this year under section 144{21 of the Charikne5 Act 2011 (the 2011 Act) and that an independent examination is needed. It is my responsibllity lo- examine the accounts under sectlon 145 of th8 2011 Act- lo follow the procedures laid down in the General Dlrections given by the Charity Commissioner under section 14515llbl of the 2011 Act: and lo stato whether particular matters have come to my att8ntion. 8asis of Indep8ndgnt gxamlnerfs report My 8xaminalion was carried out In accordance with the General Directions given by the Charity Commlssloner. An examlnatlon in¢5udes a review of the ac¢ounling records kept by the charity and a comparlson of the acGounls presented with those records.11 a180 includes consideration of ttny unusual items or disclosures in the ac¢ounls, the seeking of explanatiorns from you as Iruslees concarning any such matters. The procedures undertaken do not provkle all the 8vidence that would be required in an audll and, consequently no opinion IS given as lo whether the accounts present a 'true and falr vlew, and the report is limtt8d to those matters set out in the statement below. Independent 8X8min&r's statement In conn&ction with my 8xaminatlon, no mattgr has coma to my attentlon: which glves me reasonable caus8 to believe that, in any material Igspact, the r8quirem&nts'. (al Ibl lo kaep accountlng records In accordance with soctlon 130 of the 2011 Act; and to prepare accounts whlch accord with the occounting Tecords and to comply with tho accounllng requlrements of the 2011 Act have not been mel-, or lo which, in my opinion. attention should bg drawn in order to 8nable a propgr undèrstanding of the accounts to be reachod. Colin Reid FCA 8urge5s Hodgson LLP Chartered Accountants 27 New Dover Road Canterbury Kent CT1 3DN October 2024
J A R CHARrrABLE TRUST Report of the Tru8tae8 for the year ended 5th APRIL 2024 The Trustees prèsent their report and the unaudit8d Flnancial Statements of the charfty for the year end8d 5th April 2024. The Financial Statements comply wth the statutory requirements, th8 goveming document and the Financial Reporknng Standard applicable in the UK and Republic of Ireland IFRS 1021 (Charities SORP IFRS 102)). OBJECTIVES AND ACTIVITIES Objectlves and alm• The charity's objectives as defined In the goveming document give the Trustees absolute dlscretion over payments of income and capitsl with prior consideration being given to the advancement of religion in any part or parts of the worfd in connection with the Roman Catholic Church, provision for the education at schools or other educational estsbllshments of person or persons under th6 age of 30 years and provision of food clothing and accommodation for needy parsons over the age of 55 years where such persons would by reason of illness or other hardship and through no fault of their own be otherwise deprived of the Standard of living which they might reasonably expect to 8nloy. Publlc ben•fit The Trustees hav8 referred lo the Charity Commisslon's general guldance on publlc benefil when revlewlng thelr aims and objectives and in plannlng their future 8Ctivlti8s. as requlred under Section 17151 of th8 Charitles Act 2011, ACHIEVEMENT AND PERFORMANCE The Trustees supported 25 charitles In the year all connectod wlth dlffèrent aspects of the Roman Catholic Church both al home and overseas. Th8 amount donated increased by 6.76V.. Payments in support of work overseas were made to charlties reglstered wSth the UK Charlty Commls510n. Investmant porft>rmanrA The charlty holds no Investment propertl8s. Ils funds are held in Inveslments. The Trust has professlonal investment advi56rs who man8ge the charity's investrnenls. Durlng the year the charity purchased Investments for £427,004 and the annual revaluation saw a gain of £711.760. Proceeds the sale of investments were £426,993 and there was a loss on disposals of £63.220. Al 5th Aprll 2024 the investments were In the following sectors: 2024 2023 UK fixed interest UK listed e uities Overseas e uities Cash Total financial Investments 5.01% 40.70Vo 53.83'/0 40.191. 53.14'1. 100/. 100%
FINANCIAL REVIEW Flnancial position Tha charivs fijnds inueased by £651,395 from £5,091.739 to £5.743.134. I the charws incorne is derived from its investments. Income decreased by £7,264 (6.05%) to £112.730. Invo$tment pollcy and oblectlvos The charfty's goveming document places no restrictions on the discr&tSon of the Trustees In Investing the charitys assets. The investmént fund managers invest on a medium high-risk basis with a balanced investment objecllve and the inv8strnenls ar8 reviewed by corresponderKe twice a year. Reserves poll¢y The Trustees have power under the governing document to apply Income and capltal for the Trust s objectlves. In practlce the Tru5t88s alm to distribute the income and to build up the capltal content as unrestricted reserves. The reserves at the year4nd were £5,743,134. FUTURE PLANS The ¢haTlty Inlends to continue its existing work to relleve persons In conditions of need. hardshlp or distress and to promote the Roman Catholic falth. STRUCTURE GOVERNMENT AND MANAGEMENT Thg governing document is a Deed of Settlement dat8d 30 March 1966 made by Jeffery Arthur Rose. The TN51aes have unlimited power of Investment and If there are morg than tsvo Tru8te8s they have pow8r to act by 8 majority. The power to appoint new or additional Trust888 Is vested In the remaining Irustees. Organl$atlon The Trustees are responsible for th8 general governance of the charlty and meet once a ye8r io manage and revlew the charlty's actlvities and achievements. They identtfy projects and organizations they wish to support and the charity does not make grants to people or organizallons who apply speculatively. The charlty supports 8 number of charities on a regular basis, most of which are known personally to one or more of the Trustees. The charity ha5 a pollcy of not responding lo any correspondencè unless It relates to grants It has agreed to make or lo the general management of the charfty. Induction and tralnlng of new trustees New trustees would be provided with a copy of the charitws goveming documenls, annual report and financlal stalemenls for the prevfjous three years and Ihe Charity Commisslon's documents r81ating lo th8 responsibilities of charity trustees. Risk management The principal risk faced by the charily lies in the perfornance of investments. Thls is millgated by fetaining expert investment managers and having a diverstlied investment portfolio.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charlty Number: 248418 Prlnclpal address clo Hunters Law LLP, 9 New Square. Llncoln's Inn, London WC2A 3QN Trusleos Paschal Ryan (Chair of Trustses) Benedict Henry No8 Martin Bo18nd Bankers CAF Bank Ltd, 25 Klng5 Hlll Avenue, Klngs Hlll. West Malling. K8nt ME19 4JQ Sollcltor• Hunters Law LLP, 9 New Square, Lincoln's Inn, London WC2A 3QN Invèstment Manag•rn Raymond James Investment Services Limlted. 1 KSng William Street, London. EC4N 7AF. Ind•pondent Examln•r Burgess Hodgson LLP Chartered Accountsnts, 27 New Dover Road, Cantertlury, Kent CT1 3DN STATEMENT OF TRUSTEES RESPONSIBILITIES The charity's Trustees are r8sponsible for preparing the Trustees Annual Report and the Flnanclal Ststements In acwrdance wlth appllcable law and regulallons. The law applicable to charltles In England and Wal85 requlres the Trustees to prepare Financial Stat8m8nts for each financlal year. Under that law the Trustees have e18cled to prepare the Financial Statements in accordance wlth Unlled Klngdom Genèrally Accepted Accountlng Practice (United Kingdom Accountants Standards and appllcable 18wI. Under company law th8 Trustees rnusl not approve the Financlal Statements unless thèy are satisfied that they give a true and fair view of the slate of affairs of the charfty and the Income and expendlture of the charlty for that perlod. In preparing these Flnancial Ststements the Trustees aré requlred to'.- select suitable accounting pollcles and then apply them cOn$l8tenY observe the methods and prlnciples in the Charities SORP make judgm8nts and accounting estimates that are reasonable and prudent slale whether appllcable accounting standards have been followed, subject to any materlal departur&s dlsclosed and explained in the Finanal Statements prepare the Financial Statements on the going concem basis unless It is inappropriate to presume that the charty will continu8 in operation. The Trustèes are responsible for keeping accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financlal po8ltion of the Charity and enable them to ensure that the Financlal Statements comply with the Charilles Act 2011 and the Charity (Accounts and Reports) Regulations 2008. They are also responsible for safeguarding the a8sets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Accountancy pollcy- Judgements and e8timatlon uncortalnty The preparation of the financial statements requir8s management to make Judgements. estimates and assumptions that affect the amounts reported. Accounting estimates and assumptions are made conceming the future and, by their nature, will rarely equal the lated actual outcome. These estimates and judgements are continually reviewed and arè based on experience and other factors, includlng expe¢tatlons of future events that are believed to be reasonable under the circumstances. Indgpendent Examlner Burgess Hodg80n LLP have been rfrappointed as tho Independent examin8r for the ensulng year.
Approved by the Trustees on .. ,j. i.l.i.i.l.ts)L(k . and signed C their behalf by: Trustee
J A R CHARITABLE TRUST BALANCE SHEET as at 5th April 2024 2023r24 2022123 UNRESTRICTED FUNDS 5 743,133.91 5,091.738.50 Thare are no Restrlcted or Endowm•nl Funds represented by:_ INVESTMENTS at Market Value 5,670,088.36 5,021,537.15 CASH Raymond James GBP account CAF Bank 27,074.46 50,506.95 22,974.75 46,841,23 DEBTOR Becton Dickinson - DlvSdend recelved post 5 Aprll 2023 Pepsico Inc - Dividend received post 5 Aprll 2024 Raymond James Gross Interest- received post S Aprll 24 0.00 186.80 731.54 247.60 0.00 137.77 CREDrroR Burgess Hodgson Donation due to Prisoners Abr08d Donallon due to Friends of Tumainl -954.00 -2,000.00 -2.500.00 0.00 0.00 0.00 NEf ASSETS 743.133.91 38.50
J A R CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES for tho year ondod 5th Aprll 2024 2023124 2022123 INCOMING RESOURCES lunrestricted funds} UK CAF Bank Interest (grossl UK RJ Bank interest (gross) UK Fixed Interèst {gross) UK Dlvidends Unit Trust Dividends Overseas Dividends Property Income Dlstrlbulions Gain on currency conversion 114.47 1,322.26 14,645.85 65,777.73 5,209.02 25,660.94 0.00 0.00 .27 62.49 137.77 15,254.44 75,951.28 4,854.74 23,733.69 0.00 0.00 119.994.41 112,73 RESOURCES EXPENDED (unTestrlcted funds) Dlrect Charltsble Expendlture 2021122 Maryvale dOnaon retumed 79.000.00 0.00 74,000.00 -1,000.00 Managoment and Admlnlstratlon Expondlture Hunters prof&ssion81 chargeg to 514123 (including £1,573.40 VAT) Burgess Hodgson - Independent Examlners fee for Accounts to 514123 Burgess Hodgson - Independ8nt Examln8rs fee for Account5 to 514124 Raymond James Management fees Raymond James Over8e8s Custody Charge LEI application fee Bank charges 9,440.40 11,548.80 870.00 792.00 954.00 19,532.28 0.00 0.00 78.75 109,875.43 0.00 19,231.28 0.00 0.00 92.25 .33 THERE ARE NO PUBLICITY OR FUND.RAISING COSTS Net In¢omlnglOutgolng Retsources In the year 2,854.84 15,330.08 GAINSILOSSES ON INVESTMENT ASSETS R8alised Unrealised 3.219.79 711.760.36 587,78 -548,679.26 Total funds brought forward 5,091,738.50 5,624,499.90 TOTAL FUNQl> CARRIED FQRlflARO TQ IM15 YEAR'S BALANCE SHEET 5 743,133.91 5,091.738.50
J A R CHARITABLE TRUST DONATIONS In the yoar ended 5th Aprll 2024 Cheque 273 St Joseph's Pastoral Centre 274 to the Church in Need 275 Bishop of Brantr0d 276 Tongabezl School Trust 277 Ltttle Sisters of Ihe Poor 278 Cardinal Hume Centre 279 Sl Jam8s Church 280 St Joseph's H05pice 282 St Patrick's. Soho Square 283 Marrfage Care 284 Emmaus, Gra8nwlch 311 Finchley Foodbank 312 Foodbank Aid 313 Carltas Weslmlnster 314 St Vincent's Centre Southend 316 The Passage 317 Catholic Children's Sodety {Westrnlnster) 318 HCPT 319 JMB Educatlonal Trust 320 Brenlwood Cathollc Children's Soclety 321 Walslngham House 323 Anchor House 325 St John BOSGO Camp BRCDT 326 Nazareth Care Charftsble Trust Prisoners Abroad Frlends of Tumainl 4,000 4,000 3.000 2.500 3,000 3,000 2,000 3,000 4,000 3,OIXI 3,000 2,000 2,000 2,000 3,000 4.000 3,000 3,000 3,000 3.000 4.000 5,000 3,000 3,000 2,000 2,500 79.000
J A R CHARITABLE TRUST INVESTMENTS hold at 5th Aprll 2024 Value at 44 Value al 514123 UK Bonds £300.000 Tesco 6.15% Snr Nts 1511112037 £110,000 UK (Govt on 3.5% Bonds 2211012025 GBP 0.01 242,403.71 110,030.17 252,711.29 0.00 UK Companles 28,000 Aviva 8.75% Cum ITr Pref £1 Aviva Ord GBP 0.328947368 Barclays PLC Ord 25p BP Ord US$O.25 Dlageo Ord GBPO.28 1011108 Experlan Group US$O.10 G18xoSmilhKline Ord 25p Haleon PIC Ord GBP 0.01 HSBC Holdlngs Ord US$O.50 Impax Envlro Mkts Ord GBPO.10 Legal & G8neral GP Ord GBPO.025 Lloyds Banking Group Ord 0.10p London Stock Exchange Ord M&G PIC Ord GBP 0.05 N8tlonal Grid Ord 0.12431289p Pnjdential Corp 5p Reckitt Bgncki8er Group Ord 10p Rio Tlnto Ord Iop Shell PIC Ord EO.07 Scottish Mortgage Inv Trust Ord 0.05p SSE Ord 50p Unllever Ord 0.031111p Vodafone Group Ord US$O.2095238 0.00 36.780.00 S6.922.00 44,536.80 28,495.00 339,1C.00 186,414.80 46,603.70 62,408.22 0.00 35.907.30 53,320.00 32,823.00 31,260.00 81,980.00 27.986.40 29,925.00 198,980.00 186,899.40 600,320.00 87,422.50 141,815.52 0.00 34.160.00 0.00 44,316.00 46,965.60 0.00 268.100.00 170,135.68 48.712.95 53.923.66 83,100.00 0.00 48,430.00 0.00 7,404.15 67.740.00 43,017.00 44,352.00 211,320.C 158,864.49 449.820.00 99,742.50 158,502.96 14,636.70 8,800 1,0 10,000 11.440 14,300 9,730 20,000 14,300 100,000 350 15,000 6.000 3.900 700 4,000 6.723 70,000 5,500 3,696 16.363 Europ• 20 1,300 USA 130 Adobe Inc Com USD 0.0001 1,200 Alph8bet C8p $0.001 'C" Class 440 Amazon Com Inc 1,800 Apple Inc Com US$O.00001 400 88clon Di¢kinson Com US$1 700 Brlslol-myers Squlbb Com US$O.10 150 Caterpillar Inc Com USD1 350 CDN Natlonal Raifv4ays Com NPV 100 Deere & Co Com USD1 300 Eouifax Inc Com $1.25 1.600 Findlay Park Funds American USO 14,451.52 JH Slral Inv Fds JH Instl Nlh Amr Idx Acc 200 Idexx Laboratorles Inc Com 140 Intull Inc Com 1,260 Johnson & Johnson Corn 500 Mela Platforms Inc Com USDO.OOOLM)6 CL'A, Microsoft Corp Com Paypay Holdings Inc Com Pepsico Inc Cap USD 0.016666 Pinterest Inc Com USD 0.00001 Procler & Gamble Com NPV Servicenow Inc Com stryker Corp Com Stock Thermo Flsher Scientific Com USD1 Verizon Communications Com $0.10 Walt Disney Co. Com Disney USDO.01 10 Adyen NV EURO.01 Neslla SA CHFO.10 0.00 106,175.61 24,989.92 130.213.48 49,963.23 146,349.34 64,512.92 241.827.22 78,010.52 28,460.51 45,074.62 35.960.72 32,683.16 60,879.86 271,606.03 492,286.54 0.00 70.512.42 152,119.56 208,890.54 202,268.98 0.00 29,479.97 0.00 123,669.03 62,072.18 83,427.87 41,316.54 66,738.49 0.00 39,835.88 101,020.31 35.681.97 288,985.14 80.748.87 39.203.32 0.00 0.00 0.00 47,983.44 211.403.09 394.344.70 76.473.51 70,451.12 167,379.44 84,817.27 136,846.66 47,235.86 0.00 32,883.34 121.330.25 56,228.94 69.311.29 220 1,500 1,000 100 300 2.000 230 48.260.18 18.432.40
J A R CHARITABLE TRUST INVESTMENTS hold at 5th Aprll 2024 Asla Pacific 3,900 Australia & New Zeoland Bank NPV 15,000 Australlan Foundation Inv NPV 18,981.447 First Sentler Inv Stewart Invrs Asla Pac Ldr Acc 816 Jardlne Matheson Holdings US$O.25 18,000.oiyJ JP Morgan Asian Inv Trust Ord 25p 59,209.12 56,814.62 193,441.82 24,003.42 0.00 48,979.92 59,587.66 184,818.55 32.255.66 65.880.(KI 5,670.088.36 5. 21,537.1 M•rket Value at $14123 of Invostments sold In yearto 514124 Cost of Inveslm•nts purchasod 490.212.80 427,003.65 AdJu•tod valu• at 4123 Valu• at 514124 4,958.328.00 5,670.088.36 GAINIILOSg1 IN YEAR TO 514124
J A R CHARITABLE TRUST INVESTMENTS CHANGES In the year endod 5th Aprll 2024 Market Value at 23 IEI Dlspo$als Procaeds GalnlLoss 2eTrO¢t-23 16,363 Vodafone Group Ord USD 0.2095238 2&0Gt-23 28,000 Aviva 8.75Yo Cum IRR PRF GBP1 2&0cl-23 20,000 Impax Enviro Markets Ord GBPO.10 26-Ocl-23 20 Adyen NV Eur 0.01 2&0ct-23 18.000 JP Morgan Asia Groth Ord GBP 0.25 26-Oct-23 230 Walt Disney Co Com USD 0.01 26-Oct-23 60 Intuit Inc Com USD 0.01 26-Ocl-23 50 ServiceNow Inc Com USD 0.001 2&0cl-23 200 Ideyx Laboratories Com USD 0.10 2&0ct-23 800 Paypal Holding5 In Com USDO.0001 2&0ct-23 1,500 Plnterest Inc Com USD 0.00001 CL A 28-Oct-23 400 Appl6 Inc Com USD 0.00001 11,985.60 33,586.46 66,076.53 11,085.03 59.129.10 14.798.38 23,375.52 22,471.10 65,696.78 33,475.19 30,134.06 SS,179.26 93.01 14,636.70 -2,651.10 34.160.00 -573.$4 83.100.00 -17,023.47 24.989.92 -13,904.89 65,880.00 .750. 18,432.40 -3,634.02 21,135.34 2,240.18 18,742.98 3,728.12 76,473.51 -10,776.73 47,235.86 -13.760.67 32,883.34 -2,749.28 52,542.75 2,636.51 90 212.80 219.79 A¢qulgltlon• 30-Jun-23 JH Str81 Inv Fds JH Instl Nlh Amr Idx Acc 3se23 FITSt Senller Inv Sl Asla Pacific Ldr5 Acc 2&0¢1-23 7,500 Avlva Ord GBP 0.328947368 2&0¢1-23 14,300 Legal & General GP Ord GBPO.025 26-O¢t-23 350 London Stock Ex¢hange Ord 26-Oct-23 11,100 M&G PIC Ord GBP 0.05 2&0Gt-23 1,000 Dlag80 Ord GBPO.28 1011108 2&0cl-23 500 Vedzon CommuniGalions Com USD 0.10 2&0cl-23 110,000 UK IGovt of) 3.5% Bonds 2211012025 2&0cl-23 350 CDN National Railway5 Com NPV 26-Oct-23 100 Deere & Co Com USD1 26-Oct-23 220 Pepslco In¢ Cap USD 0.016666 26-Oct-23 150 Calerplllar Inc Com US01 2&0cl-23 90 Themio Fish¢r Sclentsfic Com USD1 2D8c-23 JH Strat Inv Fds JH Instl Nlh Amr Idx Acc 31-Mar-24 Flrst Senlier Inv Sl Asla Paclfic Ldrs kc Co•t 1,727.02 1,379.40 29,947.98 29,937.69 29,411.64 21.927.98 31,381.29 14,297.94 108.077.49 31.537.98 31.427.64 30.069.83 31,043.32 32,733.85 1,882.46 220.14 27.003.65 12
J A R CHARITABLE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5TH APRIL 2024 Basls of Accounting These Ilnancial stat8ments have been prepared In compliance wilh FRS 102, The Flnancial Reportlng Stsndard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable to charits'es preparing their accounts in accordance with the Fln8nci81 Reporknng Standard applicable in the UK and Republlc of Ireland {FRS 102) (Charlties SORP {FRS 102)) and the Charitles Act 2011. Hlslorical cost accounting wles have been applled In 811 instan8 except for the valuallon of Snvestm8nts. Investments hav& been valued 8t thelr year4nd rnark81 value, on a middle price basls. Any corresponding gain or I8 on thls revaluaOn 18 shown In the Statement of Financlal Acllvllles for the year. Financial liabiliti85 and equlty Instrum6nls are classlffed accordlng to the substance of the conlractual aThangement entered into. Debtors 8nd credltors wlth no slated interest ratè and receivable or payable within on8 year are recorded at transacllon prlce. Any losses arising from impairment are rocognised in the profft and loss account In other admlnistratlve expenses, Loans and borrowings are initlally rncognised at transaction price Includlng transaction costs. Subsgquently, Ihey are measured at amortised cost uslng the effectlve interest rate method, less impairment. If an arrangement con8titutes a financ8 Iransactlon11 Is measured at pre88nt value. Income The Trust income Is derived solely from its Investment portfolio. The Trust receives no donations and is not invofved In fund-ralslng or publicMy- Staff Costs The average head count of 8mployees during the year was O12023- Nil). No employee received employee benelils of more than £60,000 durlng the year (2023.. Nlll. Thls employee and key rnanagement personnel figur8 does not include the Trustees appointed and Sn posltlon durSng the year. Trustees Romunoration and Expenses No remuneratSon, benefits or expenses were pald to the Trustees of the CharY In the urrent or previous year. InvoStment8 at Market Valuo Comprised'.- 2023124 2022123 Fixed Interest securities uitles 352,434 5 317 654 6.223Yo 93.78Yo 252,711 4 768 826 5.03Vo 94.970
All Inveslments 8r8 carrfed at their falr value. Investments in equltles and fixed Interest securities are all traded in quoted public markets, primarily th8 London Stock Exchange. Holdings In common Snvestsnents funds, unit trusts arKI open-ended inveslment companies are at the bld pric8. The basis of fair value for quoted investments is equivalent to th8 market Value. uslng the bid price. Asset sales and purchases are recognized at the data of trade at cost (that Is thelr transaction value). 14