``` REGISTERED CHARITY NUMBER: 266537 ``` ``` Report of the Trustees and Unaudited Financial Statements for the Year Ended 1 October 2020 ``` ``` for ``` ## **`J C Mann Charitable Trust`** ``` Argents Chartered Accountants ``` ``` 15 Palace Street NORWICH Norfolk NR3 1RT ``` ``` J C Mann Charitable Trust ``` ``` Contents of the Financial Statements for the year ended 1 October 2020 ``` ||**`Page`**|**`Page`**|**`Page`**| |---|---|---|---| |**`Report of the Trustees`**|`1`|`to`|`2`| |**`Independent Examiner's Report`**||`3`|| |**`Statement of Financial Activities`**||`4`|| |**`Balance Sheet`**||`5`|| |**`Notes to the Financial Statements`**|`6`|`to`|`10`| |**`Detailed Statement of Financial Activities`**||`11`|| ``` J C Mann Charitable Trust ``` ## **`Report of the Trustees for the year ended 1 October 2020`** ``` Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyear ended 1October2020.ThetrusteeshaveadoptedtheprovisionsofAccountingandReportingby Charities: StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordance with theFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS102)(effective 1 January 2019). ``` ## **`OBJECTIVES AND ACTIVITIES`** ## **`Objectives and aims`** ``` TheObjectsoftheTrustarecharitablepurposesconcernedwiththeworkoftheNorfolk Agricultural Station(TheArableGroupnowpartofTheNIABGroup)andresearchintothedevelopmentin agricultural practicesandthedisseminationoftheresultsofsuchresearchanddevelopmentandfortheother objects ofacharitablenatureconcernedwiththeimprovementoftheagriculturalindustry.TheTrustis situated in Norfolk. ``` ## **`Public benefit`** ``` TheTrusteesconfirmthattheyhavereferredtotheguidancecontainedintheCharity Commission's generalguidanceonpublicbenefitwhenreviewingtheTrust'saimsandobjectivesandinplanning future activities. ``` ## **`ACHIEVEMENT AND PERFORMANCE`** ``` Inpursuanceoftheobjects,theTrusteeshavemadegrantstoNIABtotalling£30,000duringthe year. ThecharityiscurrentlypartfundingafiveyearNIABprojecttitled"TheMorleyCentreforNew Farming Systems".Theoverallaimoftheprojectis"toestablishaCentreatMorleyforthestudy and developmentoffarmingsystemsthatrelylessonenergy,pesticidesandnitrogenfromoil/gas and achieve a more positive carbon balance". ``` ``` Inadditiontothisagrantof£10,869wasalsopaidouttoNIABinrespectoftheSoilHeath Indicator Project that came to its conclusion during 2020. ``` ## **`FINANCIAL REVIEW`** ## **`Investment policy and objectives`** ``` The charity's investment policy is to achieve maximum return while taking low to medium risk. ``` ## **`Reserves policy`** ``` Endowmentfundsareheldtogenerateincometobeusedinfurtheranceofthecharitableobjectives of the Trust. ``` ## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`** ## **`Governing document`** ``` Thecharityiscontrolledbyitsgoverningdocument,adeedoftrustandconstitutesan unincorporated charity. ``` ## **`Organisation and decision making`** ``` Thetrusteesmeetonceayeartoreviewthecharity'sfinancialperformanceandtoconsider applications forgrants.Duringtheyearthetrusteesliaiseonprogressandtomakeanynecessarydecisions relating to the expenditure of funds. ``` ``` AdministrationofthetrustiscarriedoutbyArgentsAccountantsLtd,thetrust'saccountants. Investment decisionsaremadebythestockbrokers,Barratt&Cooke(untilJanuary2020),andCCLA(from January 2020) who provide a discretionary management service for the Trust. ``` ## **`Connected Charity`** ``` TheRogerHarrisonTrustisaconnectedcharitybyvirtueofthetrusteesoftheRogerHarrisonTrust also beingtrusteesoftheJohnColmanMannCharitableTrust.Therewerenotransactionsbetweenthe two charities during the year. ``` ## **`REFERENCE AND ADMINISTRATIVE DETAILS`** ## **`Registered Charity number`** ``` 266537 ``` ``` Page 1 ``` ``` J C Mann Charitable Trust ``` ## **`Report of the Trustees`** ``` for the year ended 1 October 2020 ``` ## **`Principal address`** ``` 15 Palace Street Norwich Norfolk NR3 1RT ``` ## **`Trustees`** ``` P Richardson H Cator OBE MRAC FRICS S Daniels ``` ## **`Independent Examiner`** ``` Argents Chartered Accountants 15 Palace Street NORWICH Norfolk NR3 1RT ``` ## **`Bankers`** ``` CAF Bank Kings Hill West Malling Kent ME19 4TA ``` ## **`Stockbrokers`** ``` CCLA Senator House 85 Queen Victoria Street London EC4V 4ET ``` ``` Approved by order of the board of trustees on 26 November 2020 and signed on its behalf by: ``` ``` P Richardson - Trustee ``` ``` Page 2 ``` ``` Independent Examiner's Report to the Trustees of J C Mann Charitable Trust ``` ## **`Independent examiner's report to the trustees of J C Mann Charitable Trust`** ``` IreporttothecharitytrusteesonmyexaminationoftheaccountsofJCMannCharitableTrust (the Trust) for the year ended 1 October 2020. ``` ## **`Responsibilities and basis of report`** ``` AsthecharitytrusteesoftheTrustyouareresponsibleforthepreparationoftheaccountsin accordance with the requirements of the Charities Act 2011 ('the Act'). ``` ``` IreportinrespectofmyexaminationoftheTrust'saccountscarriedoutundersection145oftheAct and incarryingoutmyexaminationIhavefollowedallapplicableDirectionsgivenbytheCharity Commission under section 145(5)(b) of the Act. ``` ## **`Independent examiner's statement`** ``` Ihavecompletedmyexamination.Iconfirmthatnomaterialmattershavecometomyattention 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 Trust 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.` ``` Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationto which attentionshouldbedrawninthisreportinordertoenableaproperunderstandingoftheaccountsto be reached. ``` ``` Mark Johnstone FCA Argents Chartered Accountants 15 Palace Street NORWICH Norfolk NR3 1RT ``` ``` 26 November 2020 ``` ``` Page 3 ``` ## **`J C Mann Charitable Trust`** ## **`Statement of Financial Activities for the year ended 1 October 2020`** |`Unrestricted`
`fund`
`Notes`
`£`
**`INCOME AND ENDOWMENTS FROM`**
`Investment income`
`2`
**`39,298`**
**`EXPENDITURE ON`**
**`Charitable activities`**
`3`
`Charitable activities`
**`43,329`**
`Net gains/(losses) on investments`
**`-`**
**`NET INCOME/(EXPENDITURE)`**
**`(4,031)`**
**`Transfers between funds`**
`10`
**`(77)`**
**`Net movement in funds`**
**`(4,108)`**
**`RECONCILIATION OF FUNDS`**
**`Total funds brought forward`**
**`32,583`**
**`TOTAL FUNDS CARRIED FORWARD`**
**`28,475`**|**`2020`**
`Endowment`
**`Total`**
`fund`
**`funds`**
`£`
**`£`**
**`47`**
**`39,345`**
**`542`**
**`43,871`**
**`(13,309)`**
**`(13,309)`**
**`(13,804)`**
**`(17,835)`**
**`77`**
**`-`**
**`(13,727)`**
**`(17,835)`**
**`1,361,632`**
**`1,394,215`**
**`1,347,905`**
**`1,376,380`**|`2019`
`Total`
`funds`
`£`
`41,495`
`38,029`
`81,208`| |---|---|---| |||`84,674`
`-`| |||`84,674`
`1,309,541`| |||`1,394,215`| ``` The notes form part of these financial statements ``` ``` Page 4 ``` ``` J C Mann Charitable Trust ``` ## **`Balance Sheet`** ## **`1 October 2020`** |`Unrestricted`
`fund`
`Notes`
`£`
**`FIXED ASSETS`**
`Investments`
`7`
**`-`**
**`CURRENT ASSETS`**
`Debtors`
`8`
**`17,694`**
`Cash at bank`
**`13,181`**
**`30,875`**
**`CREDITORS`**
`Amounts falling due within one year`
`9`
**`(2,400)`**
**`NET CURRENT ASSETS`**
**`28,475`**
**`TOTAL ASSETS LESS CURRENT`**
**`LIABILITIES`**
**`28,475`**
**`NET ASSETS`**
**`28,475`**
**`FUNDS`**
`10`
`Unrestricted funds`
`Endowment funds`
**`TOTAL FUNDS`**|`Endowment`
`fund`
`£`
**`1,347,905`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`1,347,905`**
**`1,347,905`**|**`2020`**
**`Total`**
**`funds`**
**`£`**
**`1,347,905`**
**`17,694`**
**`13,181`**
**`30,875`**
**`(2,400)`**
**`28,475`**
**`1,376,380`**
**`1,376,380`**
**`28,475`**
**`1,347,905`**
**`1,376,380`**|`2019`
`Total`
`funds`
`£`
`1,293,424`
`7,500`
`95,691`
`103,191`
`(2,400)`
`100,791`
`1,394,215`
`1,394,215`
`32,583`
`1,361,632`
`1,394,215`| |---|---|---|---| ``` ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on 26 November 2020 and were signed on its behalf by: ``` ``` P Richardson - Trustee ``` ``` H Cator OBE MRAC FRICS - Trustee ``` ``` The notes form part of these financial statements ``` ``` Page 5 ``` ``` J C Mann Charitable Trust ``` ``` Notes to the Financial Statements for the year ended 1 October 2020 ``` ## **`1. ACCOUNTING POLICIES`** ## **`Basis of preparing the financial statements`** ``` Thefinancialstatementsofthecharity,whichisapublicbenefitentityunderFRS102,have been preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingby Charities: StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsin accordance withtheFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS 102) (effective1January2019)',FinancialReportingStandard102'TheFinancialReporting Standard applicableintheUKandRepublicofIreland'andtheCharitiesAct2011.Thefinancial statements havebeenpreparedunderthehistoricalcostconvention,withtheexceptionofinvestments which are included at market value, as modified by the revaluation of certain assets. ``` ## **`Income`** ``` AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ``` ## **`Expenditure`** ``` Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructive obligation committingthecharitytothatexpenditure,itisprobablethatatransferofeconomicbenefits will berequiredinsettlementandtheamountoftheobligationcanbemeasuredreliably. Expenditure isaccountedforonanaccrualsbasisandhasbeenclassifiedunderheadingsthataggregate all costrelatedtothecategory.Wherecostscannotbedirectlyattributedtoparticularheadings they have been allocated to activities on a basis consistent with the use of resources. ``` ``` Grantsofferedsubjecttoconditionswhichhavenotbeenmetattheyearenddatearenotedas a commitment but not accrued as expenditure. ``` ## **`Taxation`** ``` The charity is exempt from tax on its charitable activities. ``` ## **`Fund accounting`** ``` Unrestrictedfundscanbeusedinaccordancewiththecharitableobjectivesatthediscretionof the trustees. ``` ``` Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsof the charity.Restrictionsarisewhenspecifiedbythedonororwhenfundsareraisedfor particular restricted purposes. ``` ``` Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothe financial statements. ``` ## **`Investments`** ``` Investmentsarestatedatmarketvalue.Gainsandlosses,includingunrealisedgainsand losses, oninvestmentsaredealtwithintheStatementofFinancialActivities.Investmentincome plus associated tax recoverable is credited to income on an accruals basis. ``` ## **`2. INVESTMENT INCOME`** |`Dividends`
`Interest`|**`2020`**
**`£`**
**`38,714`**
**`631`**
**`39,345`**|`2019`
`£`
`40,055`
`1,440`| |---|---|---| |||`41,495`| ``` continued... ``` ``` Page 6 ``` ``` J C Mann Charitable Trust ``` ## **`Notes to the Financial Statements - continued for the year ended 1 October 2020`** ## **`3. CHARITABLE ACTIVITIES COSTS`** |**`CHARITABLE ACTIVITIES COSTS`**||||||| |---|---|---|---|---|---|---| ||`Grant`|||||| ||`funding of`|||||| ||`activities`|||||| ||`(see note`||`Support`|||| ||`4)`||`costs`||`Totals`|| ||`£`||`£`||`£`|| |`Charitable activities`|**`40,869`**||**`3,002`**||**`43,871`**|| |**`GRANTS PAYABLE`**||||||| ||||**`2020`**||`2019`|| ||||**`£`**||`£`|| |`Charitable activities`|||**`40,869`**||`35,000`|| |`The total grants paid to institutions during the year was as`||||||| |`follows:`||||||| ||||**`2020`**||`2019`|| ||||**`£`**||`£`|| |`NIAB`|||**`40,869`**||`30,000`|| |`Innovation for Agriculture`|||**`-`**||`5,000`|| ||||**`40,869`**||`35,000`|| |**`TRUSTEES' REMUNERATION AND BENEFITS`**||||||| |`There were no trustees' remuneration or other benefits for the year ended 1 October 2020 nor `||||||`f`| |`the year ended 1 October 2019.`||||||| |**`Trustees' expenses`**||||||| |`There were no trustees' expenses paid for the year ended 1 October 2020 nor for the year en`||||||`de`| |`1 October 2019.`||||||| |**`COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`**||||||| ||`Unrestricted`||`Endowment`||`Total`|| ||`fund`||`fund`||`funds`|| ||`£`||`£`||`£`|| |**`INCOME AND ENDOWMENTS FROM`**||||||| |`Investment income`|`41,495`|||`-`|`41,495`|| |**`EXPENDITURE ON`**||||||| |**`Charitable activities`**||||||| |`Charitable activities`|`37,460`||`569`||`38,029`|| |`Net gains on investments`||`-`|`81,208`||`81,208`|| |**`NET INCOME`**|`4,035`||`80,639`||`84,674`|| |**`Transfers between funds`**|`(28,144)`||`28,144`|||`-`| |**`Net movement in funds`**|`(24,109)`||`108,783`||`84,674`|| |**`RECONCILIATION OF FUNDS`**||||||| |**`Total funds brought forward`**|`56,692`||`1,252,849`||`1,309,541`|| |**`TOTAL FUNDS CARRIED FORWARD`**|`32,583`||`1,361,632`||`1,394,215`|| ## **`4. GRANTS PAYABLE`** ## **`5. TRUSTEES' REMUNERATION AND BENEFITS`** ``` Therewerenotrustees'remunerationorotherbenefitsfortheyearended1October2020nor for the year ended 1 October 2019. ``` ``` Therewerenotrustees'expensespaidfortheyearended1October2020norfortheyear ended 1 October 2019. ``` ## **`6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`** ``` continued... ``` ``` Page 7 ``` ``` J C Mann Charitable Trust ``` ## **`Notes to the Financial Statements - continued for the year ended 1 October 2020`** ## **`7. FIXED ASSET INVESTMENTS`** |**`MARKET VALUE`**
`At 2 October 2019`
`Additions`
`Disposals`
`Revaluations`
`At 1 October 2020`
**`NET BOOK VALUE`**
`At 1 October 2020`
`At 1 October 2019`|`Listed`
`investments`
`£`
**`1,293,424`**
**`1,009,468`**
**`(928,645)`**
**`(26,342)`**
**`1,347,905`**
**`1,347,905`**
`1,293,424`| |---|---| ``` There were no investment assets outside the UK. ``` |**`8.`**
**`DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
`Prepayments and accrued income`
**`9.`**
**`CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
`Other creditors`
**`10.`**
**`MOVEMENT IN FUNDS`**
`Net`
`At`
`movement`
`2.10.19`
`in funds`
`£`
`£`
**`Unrestricted funds`**
`General fund`
**`32,583`**
**`(4,031)`**
**`Endowment funds`**
`Endowment fund`
**`1,361,632`**
**`(13,804)`**
**`TOTAL FUNDS`**
**`1,394,215`**
**`(17,835)`**|**`8.`**
**`DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
`Prepayments and accrued income`
**`9.`**
**`CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
`Other creditors`
**`10.`**
**`MOVEMENT IN FUNDS`**
`Net`
`At`
`movement`
`2.10.19`
`in funds`
`£`
`£`
**`Unrestricted funds`**
`General fund`
**`32,583`**
**`(4,031)`**
**`Endowment funds`**
`Endowment fund`
**`1,361,632`**
**`(13,804)`**
**`TOTAL FUNDS`**
**`1,394,215`**
**`(17,835)`**|**`2020`**
**`£`**
**`17,694`**
**`2020`**
**`£`**
**`2,400`**
`Transfers`
`between`
`funds`
`£`
**`(77)`**
**`77`**
**`-`**|`2019`
`£`
`7,500`
`2019`
`£`
`2,400`
`At`
`1.10.20`
`£`
**`28,475`**
**`1,347,905`**||`2019`
`£`
`7,500`| |---|---|---|---|---|---| ||||||`2019`
`£`
`2,400`| ||||**`1,376,380`**||| ``` Net movement in funds, included in the above are as follows: ``` |**`Unrestricted funds`**
`General fund`
**`Endowment funds`**
`Endowment fund`
**`TOTAL FUNDS`**|`Incoming`
`resources`
`£`
**`39,298`**
**`47`**
**`39,345`**|`Resources`
`expended`
`£`
**`(43,329)`**
**`(542)`**
**`(43,871)`**|`Gains and`
`Movement`
`losses`
`in funds`
`£`
`£`
**`-`**
**`(4,031)`**
**`(13,309)`**
**`(13,804)`**
**`(13,309)`**
**`(17,835)`**| |---|---|---|---| ``` continued... ``` ``` Page 8 ``` ``` J C Mann Charitable Trust ``` ## **`Notes to the Financial Statements - continued for the year ended 1 October 2020`** ## **`10. MOVEMENT IN FUNDS - continued`** ## **`Comparatives for movement in funds`** |`Net`
`Transfers`
`At`
`movement`
`between`
`2.10.18`
`in funds`
`funds`
`£`
`£`
`£`
**`Unrestricted funds`**
`General fund`
`56,692`
`4,035`
`(28,144)`
**`Endowment funds`**
`Endowment fund`
`1,252,849`
`80,639`
`28,144`
**`TOTAL FUNDS`**
`1,309,541`
`84,674`
`-`
`Comparative net movement in funds, included in the above are as follows:`
`Incoming`
`Resources`
`Gains and`
`resources`
`expended`
`losses`
`£`
`£`
`£`
**`Unrestricted funds`**
`General fund`
`41,495`
`(37,460)`
`-`
**`Endowment funds`**
`Endowment fund`
`-`
`(569)`
`81,208`
**`TOTAL FUNDS`**
`41,495`
`(38,029)`
`81,208`
`A current year 12 months and prior year 12 months combined position is as follows:`
`Net`
`Transfers`
`At`
`movement`
`between`
`2.10.18`
`in funds`
`funds`
`£`
`£`
`£`
**`Unrestricted funds`**
`General fund`
`56,692`
`4`
`(28,221)`
**`Endowment funds`**
`Endowment fund`
`1,252,849`
`66,835`
`28,221`
**`TOTAL FUNDS`**
`1,309,541`
`66,839`
`-`|`At`
`1.10.19`
`£`
`32,583`
`1,361,632`
`1,394,215`
`Movement`
`in funds`
`£`
`4,035`
`80,639`
`84,674`
`At`
`1.10.20`
`£`
`28,475`
`1,347,905`
`1,376,380`| |---|---| ``` continued... ``` ``` Page 9 ``` ``` J C Mann Charitable Trust ``` ``` Notes to the Financial Statements - continued for the year ended 1 October 2020 ``` ## **`10. MOVEMENT IN FUNDS - continued`** ``` Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,included in the above are as follows: ``` |**`Unrestricted funds`**
`General fund`
**`Endowment funds`**
`Endowment fund`
**`TOTAL FUNDS`**|`Incoming`
`Resources`
`Gains and`
`Movement`
`resources`
`expended`
`losses`
`in funds`
`£`
`£`
`£`
`£`
`80,793`
`(80,789)`
`-`
`4`
`47`
`(1,111)`
`67,899`
`66,835`
`80,840`
`(81,900)`
`67,899`
`66,839`| |---|---| ``` TheendowmentfundcanberealisediftheNorfolkAgriculturalStation(nowpartofNIAB) ceases to exist, or is absorbed by the government in some way. ``` ``` The income fund can be used in any way which furthers the objects of the charity. ``` ## **`11. RELATED PARTY DISCLOSURES`** ``` There were no related party transactions for the year ended 1 October 2020. ``` ``` Page 10 ``` ``` J C Mann Charitable Trust ``` ## **`Detailed Statement of Financial Activities for the year ended 1 October 2020`** |**`INCOME AND ENDOWMENTS`**
**`Investment income`**
`Dividends`
`Interest`
**`Total incoming resources`**
**`EXPENDITURE`**
**`Charitable activities`**
`Grants to institutions`
**`Support costs`**
**`Management`**
`Management`
`Accountancy`
`LEI Fees`
`Bank charges`
`Total resources expended`
**`Net (expenditure)/income before`**
**`gains and losses`**
**`Realised recognised gains and losses`**
`Realised gains/(losses) on fixed asset`
`investments`
**`Net income/(expenditure)`**|`2020`
`£`
**`38,714`**
**`631`**
**`39,345`**
**`39,345`**
**`40,869`**
**`1,320`**
**`1,080`**
**`542`**
**`60`**
**`3,002`**
**`43,871`**
**`(4,526)`**
**`13,033`**
**`8,507`**|`2019`
`£`
`40,055`
`1,440`
`41,495`
`41,495`
`35,000`
`1,320`
`1,080`
`569`
`60`
`3,029`
`38,029`
`3,466`
`(11,055)`
`(7,589)`| |---|---|---| ``` This page does not form part of the statutory financial statements ``` ``` Page 11 ```