REGISTERED CHARITY NUMBER: 263161 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMEf4TS FOR THE YEAR ENDED 5 APRIL 2025 FOR J P JACOBS CHARITABLE TRUST FKCA Limited 260- 270 Butterfield Great Marlings Lutot) BCdfordhire LU2 8DL
J P JACOBS CHARITABLE TRUST CONTENTS OF THE FINANCIAL STATEMELNTS for the Year Ended 5 APRIL 2025 Page Report of the Tru5tee5 Independent ExamiDer's Report Statement of Flnanclal Actlvlties Balance Sheet Notes to the Financial Statements
J P JACOBS CHARITABLE TRUST REPORT OF THE TRUSTEES for the Year Ended 5 APRIL 2015 The trustees present their report ivith the financial statements of the charity. for the year ended 5 April 2025. The trustees have adopled the provisions of Accounting and Reporting by Charities.. Stalemenl of Recommended Practice applicable to cliarities prepaTing their accounts in accordance with the Filncial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 l¢ffwtiv¢ l January 20191. OBJECTIIES AND ACTIVITIES Objectives and activities The charity is not invol'ed in fund raising. The Cliurity's funds are held in investments which are used to generate income which is distributed annually amongst charities principally operation in the field of the arts, religion, health research, consenwation and youth. The allocation of grants is deterniined in meetings held by the trllstees. No llpper limit on the amount payable is applicabl¢. None of the chaiitys funds are resthcted or designated. The irustees confimi that they have referred io the guidance coniained in the C.hariiy Commission's general guidance on public benefit when reviewing the Trust'5 aims and objective5 and in setting grant making policies. ACHIEVEMENTS AND PERFORMANCE Achievements and performance Distributions totalling £59,000 were made during the year IL) various charities, as detsiled in note 4 to the accounts. The statement of financial activities for the year is set out on page 4. There has been a decrease in the value of the investrnent portfolio of £39.682 as sho in note 8. Total additions for the year were £915,134 with disposal proceeds amounting to £913,584. The total of unrealised and realised losses for the year £41,230. All investinents are held in a inanaged portfolio and their perfotnthnce is Considered to be 5at15factt>ry by the trustees. The net decrease in the ndS in the year was £79,801 Climpared to a decrease in 2024 of £51,603. The tTUStee5 consider the financial position of the charity to be satisfactory as at 5 April 2025. The asset5 of the charity are deemed by the trustees to be adequate for ihe fulfilment of the obligations of rhe charity. FINANCIAL REVIEW Fin#n¢i#l rcvieiv The charity's reserves are unrcstricted, hoever Inany are held as fixed assets. The Tnist was set up a niimber of years ago with the intention of making anniial distributions. Trustees have powers to invest and feel that it is most appropriate to acLuTnulate reserves to enable theTll to make Idige, specific donations, when iiecessary. li) the trustees, opinion, the level of free reserves is adequate to facilitate such donation5 should the need arise. All assets have been acquired in accordance with the powers contained in the Trust Deed. There have been no material changes in investment policy in the year. PLANS FOR THE FUTURE As in pr¢vious ycars, thc stratcgy going forward is to usc th¢ charity's invcstmcnts to gcncratc incomc which will b¢ distributed ani)ually amongst various tharities principally operating in tlie fields of the arts. religion. community. health research, conservation and youth. Page I
J P JACOBS CHARITABLE TRUST REPORT OF THE TRUSTEES for the Year Ended 5 APRIL 2015 STRUCTURE, GOVERNANCE AND MANAGEMENT Governing documcnt The frust 15 ¥oveTned by a Trust Deed dated 17 August 1971. New Trustees are rarely appointed. but would be appointed by the existing Irustees and trained as apprlipriate. All deci.lon$ arc madc hy thc trn%tcc%. Risk management There is a limited risk due to the high level of re.%¢rve8. Inv¢stment ri.%k is mitigated by th¢ equity J)ortfolio b¢ing vari¢d and a subbtantial pioportion ot investiknents curTently being in gilts tsr Lash deposits. REFERENCE AND ADlINISTRATIvE DETAILS Registered Charity mumber 263161 Principal addre5S -1 Dairy Cotiages Siddington Cirencester Gloucester%hire GL7 6ET Trustees Ms J Sw'ift Mr M Switt Farrcr & Co Trn%t Co {rc%igncd 22.1.25) Mr T Footman-Bamber (appointed 7.7.251 Independent Examiner FKCA Liiniled 260- 270 Biitterfield Grcat Marlings Luion Bedfordshire LU2 8DL BaDkers Lloyds Bank PLC Private Banking 21-23 Hill Street London WIJ 5JW Stoekbrokers Rathboneb Investinent ManageMlt 30 Gresham Street London EC2V 7QN Approvcd by order ofthc board of tru8tecs on ............................................. and %ign¢d on its b¢half by.. Ms J Swift- TTUSiCe Page 2
INDEPENDENT EK4MINER'S REPORT TO THE TRUSTEES OF J P JACOBS CHARITABLE TRUST IndependeDt txathtr's report to ihe tru$t¢es of J P J4¢(>b$ Ch•rStabl¢ Trust repurt to the charlty trustees on my ¢xaminaiion of the accounts of J P Jacobs Charitable Trust {the Ttust) for the year ¢nd¢d 5 April 2025. Re5ponsibiiitit5 #tsd basis of report As the charity tn]stces of thc Trust you are responsible for the preparalion of the account5 in ac¢()rdan¢e with the requirements of th¢ Charities Act 2011 I'th¢ Act,). report in rcspect of my examination of the Trust's accounts callied out under Section 145 of the Act and in carrying out my examination I hav¢ followed all applicable Directiotts Veth by the Chanty Commission under Scciion 14515llb} of the Act. Indeptndellt cxamiller's 5tAttment I havc complcied my examination. I confirm that no material matters have come 10 my attention in ¢onne¢tion 1th the exatnination giving me cause to believe that in any material resp¢ct'. accounting records were not kept in respect of the Trust as required by Section 130 of the Act,. or the accounts do Doi a¢¢ord with those re¢ords' or the accounts do not comply the applicable requiremenis concerning the forni and content of accounts sel out in the Charities IAccounts atjd Reports) Regulaiiojjs 2008 other than any requiremeni thai the accounts give a true and fair view which is not a matter considered as part of an independent examanation. I have no concern5 and have come across no other matters in connection with the examination to which attention should b¢ in this report in order to enable a proper un(terstthding of the ¥¢¢ounts to be reached. Tara Aldwin ACA FKCA Limited 260- 270 Buiierfield Great Marlings Luton Bedfordshire LU2 8DL Date.. 2q Page 3
J P JACOBS CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 5 APRIL 2025 2025 UnrestTlCted fund 2024 Total funds Notes INCOME AND ENDOWMENTS FROM JnveslJnent income 51,205 56,605 EXPENDITURE ON Raising funds 14,31 16.386 Charitable octivities Charitable Activities 75,464 165,648 Total 89,775 182,034 Net gainslllosqesl on InvtmentS 141,231) 73,826 NET INCOMEI{EXPENDITURE} 179,8011 {51,603) RECONCILIATIOiY OF FUNDS Totsl fuiids brought totward 2.173,733 2,225,336 TOTAL FUNDS CARRtED FORWARD 2.093,932 2,173,733 The notes fomi part of these financial statements Pagc 4
J P JACOBS CHARITABLE TRUST BALANCE SHEET S APRIL 2025 2025 UnrestTlCted fund 2024 Total funds Notes FIXED ASSETS Investrnenis 2,085,837 2,125.519 CURRENT ASSETS Debtors Cash at bank 6,500 73,356 21,895 21.895 79.856 CREDITORS Amount5 fallin¥s due within one year {13,8001 {31,6421 NET CURRENT ASSETS 8,095 48,214 TOTAL.ISSETS LESS CURRENT LIABILITIES 2,093.932 2,173.733 NET ASSETS 2,093,932 2,173.733 FUNDS Uiirestticted funds 2,093,932 2,173,733 TOTAL FUTrIDS 2.093,Y32 2,173,733 The financial statements were approved by the Bliard of Trustees and authorised for issue and were signed on its behalf by.. on Ms J Swift- Trustee The notes fom) part of these financial statements Pagc 5
J P JACOBS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 5 APRIL 2015 ACCOUNTING POLICIES Accountin¥ conveThtio The financial statements of tlie charity, wliieh is a public ben¢fit entity linder FRS 102, have been prepared in accordance with the Chariiies SORP IFRS 102) 'Accouniing and Reponing by Charities.. Statenient of RecomTntnded PrdLtiLe applicable to chaiities piepiiiing tlieii accounts in aLLordanLe witli tlie Financial Rcporting Standard applicablc in thc LK and Rcpublic nf Ircland IFRS 1021 Icffcctivc l January 20191,, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Iieland, and tlie Chai"Ities Act 2011. The financial ststeinents hve been prepared under the histvtical cust convention, with the exception of investments which are included at IiiaTket value, as modified by the Tevaluation of certain assets. The presentation currency of the filncIal statements is in Pounds Sterling (£), Ththich is the functio11 currency of thc charity. Investments Investments are iniiially recognised at their transaction value and subsequenily measured at Iheir market value as at the Balance Sheet date Ubin¥ the closing quoted market price The Statement of Financial Activities includes the net gains and 108%e8 ari%ing on revaliMtion and di8po%a1. throughoiit the year. Ineome and cxpenses Incoinc rclatcs to rcturns earned on th¢ charitys investments. Income on cash and securities held are recorded in the year in which they are received. Expenses are recorded in respect of the year in which they are payable. Direct charitable expenditure and the cost of rnanagement and adminisiration of the charity are allocated in line with the costs to which they relate. GTants offered subject to conditions which have not been met at the year end date are noted as a COrnTnitment but not ac¢rued as expenditure. Taxatio The charity is exempt from tax on its charitable activities. Fund acclbunting Unrestricied funds can be used in accordance with the charitable objectives at the discreiion of the trustees. Re%tTlCted fund% can only be used for particular restricted purpose within the object% of the charity. Re%trictions arise when specified by the donor or when lunds are raised for particular restricted purposes. Further explanation of the natllre and PlPoSe of each fiind is incliided in the notes to the financial statements. Debtors Dcbtors arc mcasurcd at thcir rccovcrablc amounts at thc balancc 8hcct date. Creditors provisions Creditor% and provisions are recogni8ed where the charity ha% a present obligation resulting from a pa8t event that will probably result in the transler of fundb to a third party and the amount due to settlg th¢ obligation can be Ineasured or estInted reliably. Creditors and provision5 are nonknally recogni5ed at their settlement amount after allowing for any tradc discounts. Financial in5trumeNt5, cash and bank balances Ca%h hcld by thc eharity is includcd at thc amaunt actually hcld and cnunted at thc ycar cnd. Bank balanccs, whether in credit or overdrawn, are showm at the amounts properly reconciled to the bank statentS. Financial instruments are measured as fair value. In the ¢ase of unlisted investments they are valued at cost less impaiment. Page 6 continued...
J P JACOBS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 5 APRIL 2015 INVESTMENT INCOME Income received on investments may be analysed as follows.. 2025 2024 Li8tcd invcqtmcnts UK Government StkS Inteiest 45,865 3,826 1,514 54,453 2.152 51,205 56.6U5 RAISING FUNDS Investment management costs 2025 2024 Investment Manager fees 14,311 16.386 GRANTS PAY ABLE 2025 2024 Charitable Activiries 59,000 150,500 The totsl grants paid to institutions during the year was a5 follows.. 2025 2024 GThts 59,000 150,500 Grant ndIng of Activity or programme Total Art Community I Welfare Religion Health 10,000 44,000 1,500 3,500 10,000 44,000 1,500 3,500 59,000 59,000 All grants paid in the year were to institutions, amounts paid to individuals was NIL12024..NIL) Grants abovc £5,000 Grants ComTllitments. AwdrdeWRei'ersed Grdnts. Paid In Coinmiknnents BIF In The Period The PeTiod Charity Name Royal Opera House Open School East 10.000 10,000 5,500 5,500 Grnnts above £5,000 10.000 5,500 15.500 Page 7 continued...
J P JACOBS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 5 APRIL 2015 GRANTS PAYABLE - continued Grants £5,000 and below 3.500 53,500 57,000 Total Grants 13,500 59,000 72,500 INDEPENDENT EXAMINERS, REMUNERATION 2025 2024 Independenl exaininers, remuneraiion Independent examiners, remuneration- non audit ivork 1.200 1,200 1.800 1,800 TRUSTEES, RENIUNERATION AND BENEFITS There weie no trnstees. remunetation or other benefits for the year ended 5 April 2025 nor for the year ended 5 April 2024. Trustees. cxpcnscs There were no trustees, expenses paid for the year ended 5 April 2025 nor for the year ended 5 April 2024. COMPARATtVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund INCOME AND ENDOWMENTS FROM Invcstmcnt incom¢ 56,605 EXPENDITURE ON Raibing lunds 16,386 Charitable activities Ch{ltable Activitits 165.648 Total 182.034 Ner gains on investments 73.826 NET JNCOMEI(EXPENDITURE) {51.6031 RECONCILIATION OF FUNDS Total funds brought foThvard 2,225,336 TOTAL FUNDS CARRIED FORWARD 2,173.733 Page 8 continued...
J P JACOBS CHARITABLE TRUST NOTES TO THE FINANCIAL STA TEMENTS- continued for the Year Ended 5 APRIL 2015 FIXED ASSET INVESTMENTS Equities Bonds Total Valiiation at 6 April 2024 Additions at cost Disposal proceeds Nct rcali8cd gains 1 (loqsc8) Net unrealised gains l(losses) 1,400.160 725,359 2,125,519 568,913 346,221 915.134 {469,7271 (443,857) 1913,5841 (2,198) 13,938} {6,135) (38.4521 3,357 {35.0951 Valuation at 5 April 2025 1,458.695 627,142 2,085,837 Historical cost at 5 April 2025 1,309,461 643,914 1.953,375 DEBTORS: AMOUNTS FALLING DUE MqTHIN ONE YEAR 2025 2024 Other debtors 6,500 io. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Other CTeditor5 Grant commitmcnt Accruals and deferred income 1,942 13,500 16.200 13.800 13,800 31,642 MOVEMENT IN FUNDS Net moveTnent in funds At 5.4.25 At 6.4.24 Unrestricted funds General fund 2,173,733 (79,801) 2,093,932 TOTAL FUNDS 2,173.733 (79,801) 2,093,932 Net movement in funds. included in ihe above are as follows.. Incoming resources Resources expended Gains and 108se8 Movement in flind8 Unrestricted fllDds G¢ncral fund 51,205 189,775) (41,231) {79,801) TOTAL FUNDS 51,205 (89,775) (41.231) (79.801) Page 9 continued...
J P JACOBS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 5 APRIL 2015 MOVEMENT IN FUNDS - continued Cotnparatives for movemeTht in funds Net moveTnent At 5.4.24 At 6.4.23 Unrestricted funds G¢neral fund 2.225,336 {51,603) 2,173,733 TOTAL FUNDS 2.225,336 {51,603) 2,173,733 Comparative net movement in fi]nds, included in the above are as follows.. Incoming re%ouree8 Resources expended Gains and losses mo.£ent Unrestricted fllnd5 G¢ncral fund 56,605 {182.034) 73.826 (51.603) TOTAL FUNDS 56.605 (182,034) (51,603) A Current year 12 months and prior year 12 months combined positilin is as fLIIIows= Net movcmcnt in funds At 5.4.25 At 6.4.23 Unrestricted funds General lund 2,225,336 {131,404) 2.093,932 TOTAL FUNDS 2,225.336 {131.404) 2.093,932 A current year 12 months and prior year 12 months combined net movement in funds. Included in the above are as follows.. Incoming resources Resources expended Gains and losses Movement in funds Unrestrieted funds GeneTal fund 107,810 {271,809) 32,595 {131,404) TOTAL FUNDS 107,810 (271,809) 32,595 {131,404) Page 10 continued...
J P JACOBS CHARITABLE TRUST NOTES TO THE FINANCIAL STA TEMENTS- continued for the Year Ended 5 APRIL 2015 12. RELATED PARTY DISCLOSURES Fatter & Co LLP are a firm of independent lawyers that served as Trnstees for the clmrity up until they resigned on 22 January 2025. Diiring the year, the finn provided legal and trusteesliip services to the charity. The value of these services was £10,464 (2024- £1,848). 13. CONTROL RELATIONSHIPS The trustees control the charity, they ke decision5 iegarding how to distribute funds and other matters. Page 11