J A R CHARITABLE TRUST REPORT AND FINANCIAL STATEMENTS for th? year •nded 5th Aprll 2025 Hunters Law LLP 9 New Square Lincoln's Inn London WC2A 3aN SEC.WVM.35731-1
J A R CHARITABLE TRUST ACCOUNTS FOR THE YEAR ENDED 5TH APRIL 2025 Contents Pagè Independent examinels report Trustees, Report Balance sheet Statement of Financial Activitieg Donatlons Inveslrnents 9-10 Inveslment Changes 11 Not88 to th8 Accounts 12-13
Independent Examiners Report to tho Trustées of J A R Charltable Trust l Teport on tho accounts of the Trust for the year ended 5 April 2025 Respective responsibilits'es of trustees and examin8r The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required forthis year under section 144121 of the Charities Act 2011 {the 2011 Act) and that an independanl 8xaminalion is needed. 11 is my responsibility to-. examine the accounts under section 145 of the 2011 Act: to follow the procedures laid down in the General Directions given by the Charity Commissioner under section 14515){bl of the 2011 Act., and to state whether particular matters have come lo my attention. Basis ofind8pendent examin8rs report My examination was Garrled out In accordance with the General DSr8clions given by the Charily Commissioner. An examination includ8s a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. 11 also includes consideration of any unusual items or disclosures in the accounts, and the seeking of explanations from you as trustees concemlng any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently no opinion is given as lo whether the accounts pr8senl a 'true and fair view. and the report is limited lo those rnalt8rs sel out In the statement below. Independent examiners slatement In connectlon with my examination, no matter has come lo my attenllon.. whlch gives me reasonable cause lo believe that. Sn any materlal respect, the requirements- lal Ibl to keep accounting records in accordance with section 130 of th8 2011 Act,. and to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act have not been met., or to whlch, in my opinlon, attention should drawn in order to en8ble a proper understanding of th8 accounts to be reached. Colin Reid FCA Burgess Hodgson Llmlted 27 New Dover Road Canterbury Kent CT13DN Ls/• September 2025
J A R CHARITABLE TRUST Report of the Trustees for tho year ended 5th APRIL 2025 The Trustees present their report and the unaudited Financial Slalements of the charily for the year ended 5th April 2025. The Flnancial Statements comply with the stalulory requirements, the governlng document and the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (Charities SORP {FRS 102)). OBJECTIVES AND ACTIVITIES Objectives and airns The ch?rity's objectives as defined In the gov8ming document give the Trustees absoluta discretion over payments of Income and capital with prior consideration being given to the 8dvancement of religion in any part or parts of the world in connection with the Roman Catholic Church, provision for the education al schools or other educational establishrnenls of person or persons under the age of 30 years and provision of food clothing and accommodation for needy persons 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 othetwise deprived of the standard of living which they might reasonably exp8Ct to enjoy. Publlc beneflt The Trustees have referred lo the Charily Commission's general guidance on public benefit when reviewing their aims and objectives and in planning their future activities, as required under Section 17151 of the Charitie5 Act 2011. ACHIEVEMENT AND PERFORMANCE The Trustees supported 26 charities in the year all connected with different aspects of th8 Roman Catholic Church both al home and overseas. The amount donated increased by 6.96'/0. Payments in support of work overseas were made to Gharitie5 regisl&red wlh the UK Charlly Commlssion. Investment perfomianco The charity holds no investment properties. Its funds are held in investments. The Trust h8S professional investment advisers who manage the charity's investments. During the year the charity purchased investments for £199,368 and the annual revaluation saw a loss of £179,188. Proceeds from the sale of investments were £209.699 and there was a gain on disposals of £9,833. At 5th April 2025 th8 Inv8Stmenls were in the following sectors.. 2025 2024 UK fixed interest UK listed e uilies Overseas e uilies Cash Total financial investments 6.18°/o 40.19% 53.141. 0.49°/. 100% 41.47Yo 51.71 g/0 0.51'/0 100%
FINANCIAL REVIEW Financlal posltion The charity's funds decreased by £157,801 from £5,743,134 to £5,585,333. All th8 charity'5 income is derived from its investments. Income increased by £14.933 113.25010) 10 £127.663. Investrnent pollcy and obJo¢tlves The charitls governing document places no restrictions on the discretion of the Trustees Sn investing the charity's assets. The investment fund managers invest on a mediurn high-dsk basis with a balanced Investment objective, and the investments are reviewed by correspondence twice a year. RgseNes pollcy The Trustees have power under the governing document to apply income and capital lor the Trust's objectives. In practice the Trustees aim to distribute the income and to build up the capltal conlent as unrestricted reserves. The res8rves al the year-end were £5,585,333. FUTURE PLANS Th8 charity intends to continue ils existing work to rellev8 persons In condlllons of n88d, hardship or distress and to prornole the Roman Catholic faith. STRUCTURE GOVERNMENT AND MANAGEMENT The governing document Is a Deed of Settlement dated 30 Marth 1966 made by Jeffery Arthur Rose. The Trustees have unlirniled power of investment and if there are more than Truslees, they have power to act by a majority. The power lo appolnt new or addltlonal Trustees is vegted In the remaining trust88s. Organlsatlon The Trustees are responsible for the general governance of the charity and meet once a year to manage and revlew the charitls activities and achievements. They identify projects and organlsations they wish lo support, and the charlty does not mak& grants to people or organisations who apply speculatively. The charity supports a number of charities on 8 regular basis, most of whlch are known personally lo one or mor8 of the Trustees. The charity has a policy of not r85ponding lo any correspondence unless it relates to grants it has agreed to make or to the general rnanagemenl of the charity. Inductlon and tralnlng of new trustees New Iruslees would be provided with a copy of the charlty's governing documents, annual report and financial statements for the previous three years and Ihe Charity Commission's documents r81aling to the responsibilltle$ of charity trustees. Risk management The principal risk faced by the charity lies in the performance of investmenls. This is mitigated by retaining expert investment managers and havlng a diversifi8d investment portfolio.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity Number: 248418 Prlnclpal address clo Hunters Law LLP, 9 New Square, Lincoln's Inn. London WC2A 3QN Trustees Paschal Ryan Ichair of Trustees) Benedict Henry Noble Martin Boland Bankers CAF Bank Ltd. 25 Kings Hill Avenue, Kings Hill, Wesl M811ing, Kent ME19 4JQ Sollcltors Hunters Law LLP. 9 New Square, Llncoln'5 Inn, London WC2A 3QN Inve8tm8nt Managgrn Raymond Jarnes Investment Services Limited, 1 King William Street, London, EC4N 7AF. Independent Examlner Burgess Hodgson Limited Chartered Accounlanls, 27 New Dover Road, Canterbury, Kent CT13DN STATEMENT OF TRUSTEES RESPONSIBILITIES The charity's Trustees are responsible for preparing the Trustees Annual Report and the Financial Statements In accordance with applicable law and regulations. The law applicable to charities in England and Wales requires the Trustees to prepare Financl81 Statements for each financlal year. Under that law the Trustees have elected to prepare the Financial Statements in accordance wlth United Kingdom Generally Accepted Accountlng Practice (United Kingdom Account8ntg Standards and appllcable lawl. Under company law the Trustees must not approve the Financial Statements unless they are satisfied that they give a true and fair view of the state of affairs of the chatY and the income and expenditure of the charity for that perlod. In preparing these Flnanclal Stalements the Trustees are required lo'.- select suitable accounting policies and then apply them consistently observe the methods and principles in the Charities SORP make Judgments and a¢counllng estimates that are reasonable and prudent state whether applicable accounting standards have been followed, 5ubjecl lo any rnatertal departures disclosed and explained in the Financial Statements prepare the Financial Slalemenls on the going concern basis unless it is Inappropriate to presume that the charty will continue in op8ralion. The Trustees are regponsible for keeping accounting records that are sufficient lo show and explain the charity's transactions and disclose with reasonable accuracy at any time the finanGial position of the charity and enable Ihern to ensure that the Financial Statements comply with the Charities Acl 2011 and the Charity (Accounts and Reports) Regulations 2008. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Accountancy policy- Judgèments and esllmatlon un¢ertalnty The preparation of the financial statements requires management to make judgements, eslimales and assumptions that affect the arnounts reported. Accounting eslimales and assumptlOll5 are made conceming the future and, by their nature, will rarely equ81 the related aclual outcome. These estimates and judgements are continually reviewed and are based on experience and other factors, including expedations of future events that are b81i8ved lo be reasonable under the cir¢um$tan¢es. Independent Examlner Burgess Hodgson Limtted have been re-appointed 88 the independent examiner for Ihe ensuing year. Approved by the Trustees on and slgned on their behaff by.. Trustee stee uslee
J A R CHARITABLE TRUST BALANCE SHEET as at 5th April 2025 2024125 2023124 UNRESTRICTED FUNDS 5,585,332.61 5,743,133.91 Thero arn no R86trlctod or Endowm•nt Funds represenl8d by'.- INVESTMENTS al Market Value 5,490,402.53 5,670,088.36 CASH Raymond James GBP accounl Raymond James USD account CAF Bank 30,973.35 37,834.28 29,867.01 27,074.46 50,506.95 DEBTOR Pepsico Inc - Dividend received post 5 April 2024 Raymond James Gross Inte$t- recelved post 5 April 25 0.00 281.44 186.60 731.54 CREDITOR Burgess Hodgson Donation due to Prlsoners Abroad Donation due to Friends of Tumaini Donation due to Brenfvod Catholic Children's Society -1,026.00 0.00 0.00 -3,000.00 -954.00 -2,000.00 -2,500.00 0.00 NET ASSETS 5,585,332.61 5,743,133.91
J A R CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES for th¢ year ended 5th April 2025 2024125 2023124 INCOMING RESOURCES (unreslrlcted funds) UK CAF Bank interest (gross) UK RJ Bank interest Igross) UK Fixed Interest Igrossl UK Dividends Unit Trust Dividends Overseas Dividends Propety Income Dislribullon5 Gain on currency conversion 108.g6 1,155.39 18,293.01 74,039.97 4,785.34 29,280.39 0.00 0.00 127.663.06 114.47 1,322.26 14,645.85 65,777.73 5,209.02 25,660.94 0.00 0.00 112,730.27 RESOURCES EXPENDED lunra8trScted funds) DlreGt Charltable Expendlture 84,500.00 79,000.00 Managgment and Admlnl¥tr•llon Expendlture Hunters professional charges 2024125 (including £1,452.40 VAT) 8urgess Hodgson - Independent Examiners f88 for 2022123 Accounts Burgess Hodgson - Independenl Examiners f88 for 2023124 Accounts Burgess Hodgson - Independent Examlners fee for 2024125 Accounts Raymond James Management fe8S Bank charges Loss on currency conversion 8,714.40 9,440.40 o.ao 870.00 o.ao 954.00 1.026.00 21.592.48 80.50 195.81 116,109.19 0.00 19.532.28 78.75 0.00 109,875.43 THERE ARE NO PUBLICITY OR FUND-RAISING COSTS Net Incomlngloutgolng Resourcès In tha year 11,553.87 2.854.84 GAINSILOSSES ON INVESTMENT ASSETS Realised Unreali5ed 9,832.74 -179,187.91 3,219.79 711.760.36 Total funds brought forward 5,743.133.91 5,091,738.50 TOTAL FUNDS CARRIED FORWARD TO THIS YEAR'S BALANCE SHEET 5,585.332.61 5,743,133.91
J A R CHARITABLE TRUST DONATIONS in the year ended 5th April 2025 Cheque No 232 233 234 235 236 237 238 239 240 241 242 243 244 St Joseph's Pastoral Centre Aid to the Church in Need S.M.l.L.E Tongabezi School Trust Little Sisters of the Poor Cardinal Hume Centre St James Church st Joseph's Hospice St PalrSck's Church Marriage Care St John B05co Carnp BRCDT Nazarelh Care Charitable Trust Prisoners Abr08d 4,000 4,000 3.000 3.000 4,000 4,000 2,000 4,000 4.000 3,000 3.000 3,000 2,000 IE I 245 285 329 330 331 332 333 334 335 338 339 340 Fri8nds of Tumaln HCPT Emmaus, Greenwich Finchley Foodbank Foodbank Aid Carltas Westminster St Vincent's Centre Southend The Passage Catholic Children's Sociely Iweslminsterl Walsingham House Anchor House JMB Educatlonal Twst Brentwood Catholic Children's Society 2,500 3,000 3,000 2,000 3,000 2,000 3,000 4,000 4,000 4,000 5.000 3,000 3,000 84,500
J A R CHARITABLE TRUST INVESTMENTS hold at 5th Aprll 2025 Value at 514125 Value at 514124 LIK Bonds $ 300,000 Tesco 6.15Yo Snr Nts 1511112037 £110,000 UK {Govt ofj 3.50k Bonds 2211012025 GBP 0.01 238,892.08 109,560.77 242,403.71 110,030.17 UK Companl•s 10,000 Avivg Ord GBP 0.328947368 30,OOQ Barclays PLC Ord 25p 8,800 BP Ord US$O.25 2,000 Diageo Ord GBPO.28 1011108 8.000 Experian Group US$O.10 11.440 GlaxoSmilhKline Ord 25p 14,300 Haleon PIC Ord GBP 0.01 9.730 HSBC Holdings Ord US$O.50 14,300 Legal & Gen8r81 GP Ord GBPO.025 100,000 Lloyds Banking Group Ord 0.1 Op 500 London Stock Exchange Ord 15,000 M&G PIC Ord GBP 0.05 7.750 National Grid Ord 0.12431289p 6,000 Prudential Corp 5p 700 Reckitt 8enckiser Group Ord 1 Op 4,000 Rio Tinlo Ord 1 Op 6.723 Shell PIC Ord e0.07 70,000 Scotllsh Mortgage Inv Trust Ord O.OSp 5,500 SSE Ord 50p 3,696 Unilever Ord 0.031111p Europo 1.300 USA 130 Adobe Inc Com USD 0.0001 1,200 Alphabet Cap $0.001 'C' Cla88 440 Amazon Com Inc 1,500 Apple Inc Com US$O.OQ001 400 Becton Dlcklnson Com US$1 700 Brlstol.Myers Squibb Com US$O.10 190 Calorpillar In¢ Com USD1 500 CDN National Railways Com NPV 140 Deere & Co Com USD1 300 Equifax Inc Com $1.25 1,600 Findlay Park Funds American USD 14,451.52 JH Slral Inv Fds JH Insll Nth Amr Idx Acc 140 Intuit Inc Com 1,260 Johnson & Johnson Com 400 Mela Plaffomis Inc Com USDO.000006 CL'A, 600 Microsoft Corp Com 350 Pepsico Inc Cap USD 0.016666 1.000 Procter & Gamble Com NPV 100 Servicenow Inc Com 300 Stryker Corp Com Stock 90 Thermo Fisher Scientific Com USD1 2,000 Verizon Communications CcKn $0.10 230 Visa Inc Com Stk USD 0.0001 52,540.00 75,015.00 32.621.60 40.240.00 259,680.00 162,162.00 54,840.50 73.948.00 31,817.50 65,000.00 55.725.00 27,652.50 80,135.00 44,808.00 35.574.00 169.560.00 166,831.25 598,780.00 88,055.00 173,490.24 36,780.00 56,922.00 44,536.80 28,495.00 339,100.00 186,414.80 46,603.70 62,408.22 35,907.30 53,320.00 32,823.00 31,260.00 61,980.00 27,986.40 29,925.00 198,980.00 186,899.40 60D,320.00 87,422.50 141.815.52 Neslle SA CHFO.10 102,498.19 106,175.81 0.00 137,155.06 58.207.81 218.604.22 64,161.66 29,947.16 42.344.71 37,323.73 46,557.28 48,754.84 261.337.91 492.811.43 60,818.19 149,374.06 156,189.42 167,029.50 39.697.59 126,681.68 55,828.90 80,256.23 30,490.17 66,578.47 55,716.65 49,963.23 146,349.34 64,512.92 241,827.22 78,010.52 28,460.51 45.074.62 35.960.72 32,683.16 60,879.86 271,606.03 492,286.54 70.512.42 152.119.S6 208,890.54 202,268.98 29,479.97 123,669.03 62.072.18 83,427.87 41,316.54 66.738.49 0.00
J A R CHARITABLE TRUST INVESTMENTS held at 5th April 2025 Asia Paciflc 3,900 Australia & New Zealand Bank NPV 15,000 Australian Foundation Inv NPV 18.981.447 First Sentier Inv Stewart Invrs Asia Pac Ldr Acc 1,200 Jardlne Matheson Hddings US$O.25 51.458.27 49,724.92 184,972.30 38,953.74 59,209.12 56.814.62 193,441.82 24,003.42 5.490,402.53 5,670,088.36 Market Value at 514124 of Investments sold In year lo 514125 Co•t of Investments purchaièd -199,865.87 199,367.95 AdluBted value at 514124 Value at 514125 5,669,590.44 5,490,402.53 GAIN{ILOSSI IN YEAR TO 514125 -179.187.91 10
J A R CHARITABLE TRUST INVESTMENTS CHANGES In the year ended 5th Aprll 2025 Market Valuo at 514124 Disposals Procoeds GalnlLoss 30-Sep-24 2,000 Experian PIC Ord USD 0.10 3Q-Sep-24 100 Mela Platfomis InG Com USD 0.000006 3Q-Sep-24 300 Apple Inc Com USD 0.00001 31-Mar-25 130 Adobg In¢ Com USD 0.0001 78,078.94 67,820.00 42.343.79 41,778.11 51.493.09 40,304.54 37,782.80 49,963.23 209,698.61 199,865.87 10,258.94 565.68 11.188.55 -12,180.43 9,832.74 Acqul8ltlon8 O&Jun-24 1,750 Nallonal Grld New Ord 28-Jun-24 JH Slral Inv Fds JH Instl Nth Amr Idx Acc 30-Sep24 1,000 Diageo Ord GBPO.28 1011108 30-Sep24 2,100 Pnjdenlial PIC GBP 0.05 3(>Sep24 2,500 Avlva Ord GBP 0.328947368 3(>s824 150 London Slock Exchange Ord GBP 0.06918604 30-Sep-24 130 Pepsico Inc Cap USD 0.01666 30-Sep24 150 CDN National Railways Com NPV 3se24 230 Visa Inc Com Stk USO 0.0001 30-Sep-24 40 Caterpillar Inc Com USD 1.¢)0 30-Sep-24 40 Deere & Co Com USD 1 30-Sep24 First Senlier Inv Sl Asl8 Pacific Ldrs Acc 01-Ocl-24 384 Jardin8 Matheson USD 0.25 31-Dec-24 JH Slral Inv Fds JH Insll Ntr Amr Idx Ac 31-Mar-25 First Sentier Inv Sl Asia Pacilic Ldr5 Acc Cost 11,287.50 1.877.45 26,390.54 14,815.70 12,292.73 15,571.23 16.809.25 13,407.70 47,556.13 11,923.24 12.667.12 1,275.11 11,861.48 1,258.00 374.78 199,367.95
J A R CHARITABLE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5TH APRIL 2025 General Informatlon The charity is a public beneht entity and registered Charity in England and Wales and in unincorporated. The address of the principle office is Hunters, 9 New Square, Lincoln's Inn, London WC2A 3QN. Basls olAccountlng These financial statements have been prepaT8d in compliance with FRS 102, The Financial Reporting Standard appllcable in the UK and the Republic of Ireland,, the Statement of Recornmended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 (Charities SORP IFRS 10211 and the Charities Act 2011. The flnancl81 statement Is prepared in Sterflng. which is the functional currency of the entity. Hlgtorical cost accounting njles have been applied in all instances except for the V81ualion of inveslm8nts. Investrnents have been v8lued at their yearond market value, on a middle price basis. Any corresponding gain or loss on this revaluation is shown in the Statement of Financial Activities for the year. Debtors and creditors wllh no stated interest rate and receSvable or pay8ble within one yaar are recorded al Iran5aclion priGe. Any losses arising from irnpairment are r8cognlsed in the profit and loss account in other administrative en5&s. Loans and bOowingS are Inltlally recognlsed at transadion prl¢e Includlng tran$actlon costs. Subsequently, they are rneasured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it Is measured at present value. Flnanclal Instrumonts Flnancial liabilities and equity instrument5 ar8 classified accordlng to the substance of the contractual arrangement entered into. Income The Trust income is derived solely from its inve5tmenl portfolio. The Trust receives no donations and is not involved in fund-raising or publicity. staff Costs The average head count of employees during the year was 012024: Nil). No employee received employee benefits of more than £60,000 during the year12024.' Nil). This employee and key management personnel figure does not include the TNstee$ appointed and in p0511ion during the year. 12
Trustees Remuneratlon and Expenses No remuneratlon, beneffts or expenses were paid to the Trustees of the Charity in thé cuent or previous year. Investment5 at Market Value Comprised-.- 2024125 2023124 Fixed Interest securities uilies 348,453 5 141,950 6.35°/. 93.65° 352,434 5 317654 6.22Y 93.7810 All investments are carried at their fair value. Investments in equitie5 and fixed interest securities are all traded in quoted public rnarket5, primarily the London Stock Exchange. Holdings In common investments funds, unit trusts and open-ended investment companies are at the bid price. The basis of fair value for quoted Investments is equivalent lo the market valu8. using the bid price. Asset sales and purchases are recognized at the date of trade al cost (that is their transaction value). Independent Examlnatlon Burgess Hodgson have provided a provlsional fee of £855 plus VAT12024.' £7951 in regard to the annual independent examination on the 5 April 2025 accounts, which will be paid and reported in the 5 April 2026 year.