2025-04-05-accounts

THE JOSEPH & LENA RANDALL CHARITABLE TRUST Registered Charlty No. 255035 REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

THE JOSEPH & LENA RANDALL CHARITABLE TRUST CONTENTS Page Trust Infomiatlon Report of the Trust¢¢ Independent Examlner's Report Statement of Flnantial Activities Balance Sheet A¢¢ounting Policies Notes to the Financial Statements 10-14

THE JOSEPH & LENA RANDALL CHARITABLE TRUST TRUST INFORMATION Trustee Rofrano Trustee Services Ltd Regist•rod office Suite 1 Th Floor 50 Broadway London SW1H OBL Bankers UBS Switzerland AG Postfach 8098 Zurich Independent Examiner PKF Littlejohn LLP Independent Examiner 15 Westferry Circus Canary Wharf London E14 4HD InveslJnent Managers UBS Switzerland AG Postfach 8098 Zurich Charity Registration Number 255035

THE JOSEPH & LENA RANDALL CHARITABLE TRUST REPORT OF THE TRUSTEE YEAR ENDED 5 APRIL 2025 The Trustee presents ils report and the audited financial statements of the charity for the year ended S April 2025. The Trustee has adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their financial statements in accordance UK Generally A¢cepled Accounting Practice. Objects and Public Beneflt The Trust was established by a Deed of Selllement on 15 November 1967, exclusively for charitable purposes, al the discretion of the Trustee. The Trustee has had regard lo the proposals contained in the Charity Commission's general guidance on public benefit when reviewing the Trusfs aims and objectives and in planning future aclivib'es. The Trustee received many appeals during the year, and a number of new ¢harities have benefited from our philanthropy for the first lime. All appeals are vetted scrupulously and we try to respond sympathetically wherever possible, with the excepts'on of circular letters and appeals from individuals that are not accredited. The Joseph & Lena Charitable Trust is a public benefrt entity. Activitigs during the Year, Reserves and Investment Pollcy On behalf of Rofrano Trustee Services Ltd the Directors declare that in their opinions that The Joseph & Lena Randall Charitable Trust is in a position of robust solvency and strong financial good health, and current￿, at the time ofwriling with nel assets, readily realisable of approximately £2m., moreover that the Trustee can meet all and any liabilits.es over at least the next 12 months and beyond, subject to the usual vagaries and imponderable5. In the year to 5th April 2025 our income from investments pursued last yearfs rising trend, growing lo £100,435 from £87,908 the previous period, an increase of 14.250/0. Meanwhile our grants increased by 11 Q/0 to £82,9g2, from £74,641, in 202314. Over the 12 months covered by our2024125 accounting year, the market value of our investment fund increased by 8.30k from £1,821,197 to £1,972,291. By 31st De￿mber 2025 the value had improved lo £2,075,826. though our Trustee consistently levies no charge, nor seeks to recover administration expenses, conversely our governance costs increased by 58'A from £6,562 to £10,377, mainly due to the obligation lo submit lo heightened regulatory oversight. The Fund consists of a portfolio of predominanlty medium to longer dated fixed-income investments, producing a regular and self-perpetuating income stream, which after deduction of the aforementioned overheads, is dislribul8d to a selection of well*stablished, effieienlly administered and overwhelmingly U.K., land also a handful of overseas) accredited registered charib"es, to many of whom we have provided robust and consistent decades of loyal support. In 2024125 we contributed to around 45 such phitanlhropic institutions. The Trustee aNvays endeavours to respond to all bona fide appeals from estsblished charities when received in due form, (excluding circular letters or solicitation e-mailingsl and to respond affirmatively, IhoLsgh subject to any budgetary conslminls. prior commitments or pledges, and our loyalty lo those regular causes. We also stipulate that the minimum we Can expect ￿t1prOc811Y from those receiving our largesse is a timely official receipt signed by their officials, which we require to ensLJre that funds are not misappropriated, nor donations unappreciated.

THE JOSEPH & LENA RANDALL CHARITABLE TRUST REPORT OF THE TRUSTEE YEAR ENDED 5 APRIL 2025 The 2024125 fiscal year marked a significant turning point in the UK's monetary landscape. After holding steady at 5.25°/o for the first quarter. the Bank of England commenced a gradual easing cycle in August 2024, reducing the base rate to 4.50 /0 by April 2025. For our Trust. which maintains a 950/0 concentration in sterting bonds, this shift from peak rates provided essential support lor capital valuations. Wnile lower inlergst rates traditionally compress yields for new Inveslmenls, our portfolio's high-quality bond exposure allowed us lo navigate this transition effectively, ensuring consistent support for our charitable donations despite a volatile macroeconomic backdrop. Meanwhlle this was a period of significant political Iransitson for the UK, marked by the July 2024 general election and the beginning of the Labour govemment's tenure. Wmile initial market reacb'on to a stable majority govemmenl was largely positive, supporting a relatively robust Pound Sterling. the new adminislrab'on's fiscal policies quickly introduced sector-specific challenges. A key and contentious policy implemented during this period was the governmenys insistence on imwsing 200 VAT on private school fees. This had an enomious impact across the independent education sector, and the Trustees deplore this mischievous imposition that harm5 those very people who sacrifice lo offer their children a wider choice and better opportunity, just as the impact of Artificial Intelligence is likely lo decimate career opportunities in so many professions. Trustee Rofrano Trustee Services Limited is the appointed Trustee to the Trust. The Directors of the Trustee Company throughout the year were.. D A Randall B Y Randall A C Randall B J Randall Financial Position Details of the Trust's incoming and outgoing resources in the year are given in the Slalement of Financial Activities on page 8. The Trust's financial p0511ion al 5 April 2025 is sel out in the Balance Sheet on page 9. RSsk Management The Trustee has examined the strategic and operational risks which the Trust faces and confirms that steps that are appropriate lo the Trust have been taken to mitigate these risks. Reserves policy The Trustee's policy is to prudently distribute recurrent nel income, after disbursement of administotive expenses, including professional fees, generated by the Trust's portfolio. However, as all fvnds are potentially available for distribution, the Trustee does not feel that il needs to maintain a specific level of reserves.

THE JOSEPH & LENA RANDALL CHARITABLE TRUST REPORT OF THE TRUSTEE YEAR ENDED 5 APRIL 2025 Pknbews of the Trust•• Board Members of the Trustee Board, who served during the year and up to the date of this report. are sel out on page We certify that. So far as we are aware, there no re￿vant independent examination infomialion of which the charity's independent examiner is unaware., and We have taken all the steps that we ought to have taken in order to make ourselves aware of any relevant independent examination Infomialion and lo establish that the charity's independent examiner is aware of that information. D A Rando11 Director For and on behalf of Rofrano Trustee Services Limited JA 26

THE JOSEPH & LENA RANDALL CHARITABLE TRUST

INDEPENDENT EXAMINER’S REPORT

I report to the charity trustee on my examination of the accounts of the charity for the year ended 5 April 2025 which are set out on pages 6 to 14.

Responsibilities and basis of report

As the charity’s trustee 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 charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the 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 charity 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.

Alastair Duke Institute of Chartered Accountants in England and Wales

15 Westferry Circus Canary Wharf London E14 4HD

2 February 2026

5

THE JOSEPH & LENA RANDALL CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES (including InGome and Expenditure Account) YEAR ENDED S APRIL 2025 2025 2024 Unrestricted Funds Total Unrestricted Funds Total Note Income from: Investments 100,435 87,908 Total incom8 100,435 87,908 Expenditure on: Charitable activities 198,1311 183,911} Total expgnditure {98,1311 {83,911) Gainslllossesl on Investments Foreign exchange lossesJlgains} Gain on sale of investments 151,762 14481 3.243 {114,721) 150 29,583 Net Incomellexpenditure} 156,861 180,991} Net movemgnt in funds 156.861 180,9911 Reconciliation of funds: Total funds brought forward 1.835.579 1,916,570 Total funds carried fonvard 1,992,440 1,83S,579 All income and expenditure derives from continuing aclivilies. The statement of financial activities includes all gains and10sses recognised during the year. The Accounting Policies and Notes on pages 8 10 14 form part of these financial statements.

THE JOSEPH & LENA RANDALL CHARITABLE TRUST BALANCE SHEET AT 5 APRIL 2025 2025 2024 Note Fixed assets Investments 1.972,291 1,821,197 Current as¥ets Deblors 42,197 30,082 Creditors: amounts falling due within one year 22,0481 115,700 Nei current assets 20,149 14,382 Nel assets 1.992.440 1,835,579 Charity Funds Unreslricled funds 1,992,440 1,835,579 Total Funds 1,992,440 1,835,579 The financial statements were approved and aulhorised for issue by the Trustee o 2026. Signed on tehalf of the Trustee D A Randall, Diroctor Rofrano Trustee Selvices Limited Trustee The Aceount'ng Policies and Notes on pages 8 to 14 fomi part of these financial slalements.

THE JOSEPH & LENA RANDALL CHARITABLE TRUST ACCOUNTING POLICIES YEAR ENDED 5 APRIL 2025 General inforniation and basls of preparalion The Joseph and Lena Randall Trust is a charity in the United Kingdom. The address of the registered office is given in the charity information on page 2 of these financial stslemenls. The nature of the charity's operations and principal activities surrounds grant giving to charitable organisations. The eharity conslilutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Ch8rities.' Statement of Re¢ommended Practice applicable lo charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Repijblic of Ireland IFRS 1021, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland {FRS 1021, the Charities Act 2011, and UK Generally Accepted Practice as it applies from 1 January 2019. The accounts (financial stalementsl have been prepared lo give a 'lrue and fair, view and have departed from the Charities IAccoLJnts and Reports) Regulations 2008 only to the extent required lo provide a 'true and fair view,. This departure has Involved following Accounting and Reporting by Charities preparing thèir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 rather than the Accounting and Reporting by Charities". Ststement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. The financial statements are prepared on a going concern basis under the hislorTcal cost convention, modified lo include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity. The charity qualifies as a small entity under FRS 102 and has therefore taken advantage of the disclosure exemptions pemiitted by Section 3.18 of FRS 102. In accordance with these exemptions, a Statement of Cash Flows has not been pfftpared The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise staled. {b} Funds Unrestricted funds a￿ available for use al the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes Investment management charges and legal advice relating lo the fvnd are charged against the fvnd. Icl Income recognitlon All incoming resources are included in the Statement of Financial Aelivilies ISOFAI when the charity is legally entitled to the income, afte¥ any performance conditions have been mel. when the amount can be measured reliably and when il is probab￿ that the income will be received. Income from donations is reccgnised on ￿elp( unless there are conditions attached to the donation that require a level of performance before entitlement Gan be obtained. In this case income is deferred until those conditions are fully met or the fulfi'lment of those conditions is within the Control of the ¢harity and il is probable that they will be fulfilled. Id) Expendlture recognition Al expenditure Is accounted for on an accruals basis. Expenditure is recognised where there Is a legal or constructive obligation lo make payments lo third parbes, it Is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is calegorised under the following headings. Expenditure on charitable activities includes grants payable Isee note 11. Irrecoverable VAT is charged as an expense against the activity for which expenditure arose. Grants payable to third parties are included in expenditur8 on charitable activities. Where unconditional grants are made, these amounts are recognised when a constructive obligab'on is created, typically when the recipient Is notified that a grant will be made to them. Where grants are conditional on performance, then the grant is only recognised On￿ any unfulfilled conditions are outside of the control of the charity.

THE JOSEPH & LENA RANDALL CHARITABLE TRUST ACCOUNTING POLICIES YEAR ENDED 5 APRIL 2025 (dl Expendituro ro¢ognition - conlinuation Support costs are those that assist the work of the charity but do not directly represent charitable activities and include bank costs and governance costs. They are incurred directly in SLJPPOrt of expenditure on the objects of the charity. Such costs are shown separately on the SOFA. 191 Tax The charity is an exempl charity within the meaning of schedule 3 of the Charities Act 2011 and is considered lo pass the tests sel out in Paragraph 1 Schedule 6 of the Finance Act 2010. 11 therefore meets the definition of a charitable company ft)r UK corporation tax purposes. lfj Flxed asset investments Fixed asset investn*nls are accounted for at fair value, with gains and losses recognised in the Statement ol Financial Activities. Ig) Foreign Currencigs Transactions in forergn currencies are recorded at the rate of exchange ruling al the date of the tr8nsaction. Monetary assets and liabililigs denominated in foreign currencies a￿ translated at the rate of exchange ruling al the balance sheet date. All differences are taken lo the Statement of Financial Activities. (h} Judgments and estimates There are no significant judgments or estimates in the financial statements other than investments fr)r which the policy has been dis¢losed. li) Going Concern The Trust is considered lo be a going concern as there are sufficient funds in place.

THE JOSEPH & LENA RANDALL CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 5 APRIL 2025 Charitable Activities 1.1. Analysis of expenditure on charftable acifvities Costs related to charitable actlvities Support costs 2025 Total 2024 Total Grant awards 82.992 15,139 98.131 83,911 82,992 15,139 98,131 83,911 Expenditure on charitable aclNits'es was attributable to unrestricted funds. 1.2. Support Costs 2025 Total 2024 Total Bank charges Governance costs (see note 1.3) 4,762 10,377 2,708 6,562 Total support costs 15.139 9,270 1.3. Governance costs 2025 2024 Independent examinationlAudilorfs remuneration Legal and professional fees 5,928 4,449 5,700 862 10,377 6.562 No Iruslee expenses have been incurred in either year. 10

THE JOSEPH & LENA RANDALL CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 5 APRIL 2025 1.4. Analysis of grants Recipients of grants to institutions: Grants payable in the year individually valued at more than £750 are as follows.. 2025 2024 AJEX Ambassade ordre de Malle AMPA Aldenham School Bournemouth War MenKJrial Homes Brain and Spine Foundation Cancer Research UK Chain of Hope Childhood First Christie Charitable Fund CLIC Sargent CST Cystic Fibrosis Diabetes UK FFDJF Fight for Sight Great OTmand Street Hospital Holocaust Educational Trust Hunlinglon's Disease Associabon Jewish Deaf Association Jewish Lads and Girls Brigade Leukaemia Fund Listening Books Macular Society Memorial De la Shaoh Mission Enfance (Monaco) Monaco aide el Presence Motor Neurone Disease Ass(Kiation MTV Slaying Alive Foundation Nightingale House Norwood Not Forgotten Association Oxford & St George's Jewish Youth Trust Prostale Cancer UK Queen Elizabeth Birmingham Restoration of Appearance and Function Trust Royal M2rsden Cancer Charity Royal National Institute for Deaf People Royal National Institute of Blind People Charity Rural Coffee Caravan Save the Children Fund SCAT SENSE SHINE ISM Capital Campalgn Development Fund zo Wellbeing of Women 1,000 833 2,500 1,000 1,000 1,500 1,000 2,500 1,000 1,000 1,500 2,000 2,000 2,000 1,000 2,000 10,000 1,000 5,000 1,000 1,000 2,000 1,000 1,000 2,000 1,000 1,000 2,000 1,000 853 860 2,000 2,000 1,000 2,000 10,000 5,000 1,000 1,000 2,000 1,000 1,000 2,000 1,000 1.000 1.000 1,000 846 846 5,247 1,000 1,000 3,000 2,500 1,000 1,000 1,000 2,000 1,000 1,000 3,000 2,500 1,000 1.000 1,000 2,000 1,000 2,500 1,000 2,500 1,000 1,000 1,000 1,000 1,000 2,500 1,000 2,500 1,000 1,000 1,000 1,000 8,299 1,000 1,000 1,000 1,ODO Carried forward 81.572 73.213 11

THE JOSEPH & LENA RANDALL CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 5 APRIL 2025 1.1. Analysis of grants {¢ontlnuedl Brought forward 81,572 73,213 Individual grants for £750 or less 1,420 1.428 Total grant awards 82,992 74,641 Grants in both years were made from unrestr￿ed funds. Net oxpendfture for lh• year Nel expenditure is stated after charging.. 2025 2024 Auditor remuneration 5,928 5,700 Fixed asset investments 2025 2024 Market value al beginning of year Additions in the year Disposals at opening market value in the year Losses 1,787,773 490,811 1310,5391 13.7101 1,762,603 1,615,997 11,476,106) 1114,7211 Market value at end of year 1,964,335 1.787,773 Cash held in investments At beginning of year Movement in the year 33,424 125,4681 89,716 156.292} At end of year in the year 7,956 33,424 Investments value at end of year 1,972,291 1.821.197 The historic cost at the end of the year was £1,640,79612024 - £1.615,9971. 12

THE JOSEPH & LENA RANDALL CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 5 APRIL 2025 Debtor4 2025 2024 Accrued bond interest 42,197 30,082 Creditors: amounts falling due within one year 2025 2024 Accruals Grants payable 17,635 4,413 11,707 3,993 Funds r￿One￿IlatIOn Unrestricted funds movement anatysis year endod 5 April 2025 Balance at 6 April 2024 Gains I {lossesl Balance at 5 April 2025 In¢ome Expenditure Income Capital 968,937 866,642 100,435 198,131) 154,557 1.125,798 866,642 1,835,579 100.435 {98.131) 154,557 1.992.440 Unrestricted funds movement analysis year ended 5 April 2024 Balance at 6 Aprfl 2023 Gains I (losses Balance at 5 April 2024 Incom• Expendlture Income Capital 1,049,928 866,642 87,g08 183.9111 {84,9881 968,937 866,642 1.916.570 87,908 183.9111 184.9881 1.835.579 13

THE JOSEPH & LENA RANDALL CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 5 APRIL 2025 Uftimate controlling party The ultimate tontrolling paty is the Trustee. Rofrano Tfuslee Services Limiled. The Trustee was not remunerated nor reimbursed any expenses during the year. There have been no transactions with the Trustee during the year. 14