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