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2025-10-01-accounts

Charity registration number 266537 (England and Wales)

J C MANN CHARITABLE TRUST

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 OCTOBER 2025

J C MANN CHARITABLE TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr Henry Cator
Mr Simon Daniels
Mrs Susan Lord
Charity number 266537
Principal address 15 Palace Street
NORWICH
Norfolk
United Kingdom
NR3 1RT
Independent examiner Argents Accountants
15 Palace Street
NORWICH
Norfolk
United Kingdom
NR3 1RT
Bankers CAF Bank
Kings Hill
West Malling
Kent
United Kingdom
ME19 4TA
Investment advisors CCLA
Senator House
85 Queen Victoria Street
London
EC4V 4ET
United Kingdom

J C MANN CHARITABLE TRUST

CONTENTS

Page
Trustees' report 1 - 2
Independent examiner's report 3
Statement of financial activities 4
Balance sheet 5
Notes to the financial statements 6 - 12

J C MANN CHARITABLE TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 1 OCTOBER 2025

The trustees present their annual report and financial statements for the year ended 1 October 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the trust's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)".

Objectives and activities

The trust's objects are charitable purposes concerned with the work of the Norfolk Agricultura Station (The Arable Group now part of The NIAB Group) and research into the development in agricultural practices and the dissemination of the results of such research and development and for the other objects of a charitable nature concerned with the improvement of the agricultural industry. The Trust is situated in Norfolk.

Public benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the trust should undertake.

Achievements and performance

Significant activities and achievements against objectives

In pursuance of the objects, the Trustees have made grants to NIAB totaling £27,482 during the year. This grant contributes towards funding 2 of NIABs projects; 'Exploiting novel wheat genotypes for regenerative agriculture' and 'New farming system soil amendments and cover crops in rotation'.

In addition Trustees agreed grants to Royal Norfolk Agricultural Association Norfolk International Scholarship fund totaling £6,000 during the year, a grant that will help those considering a career in farming develop their skills.

Financial review

The charities work is entirely reliant on income and investment returns from its endowments.

Its investment portfolio held with CCLA has saw an overall decrease in value this year of £68,636 (2024 : increase of £138,418). The fund continued to generate investment income capable of covering expenditure of the trust.

Reserves policy

Endowment funds are held to generate income to be used in furtherance of the charitable objectives of the Trust.

The endowment fund held at the year ended 1 October 2025 amounted to £1,522,149

The balance held as unrestricted funds at the year ended 1 October 2025 amounted to £102,486

Investment policy

The charity's investment policy is to achieve maximum return while taking low to medium risk.

Major risks

The trustees have assessed the major risks to which the trust is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

The trustees who served during the year and up to the date of signature of the financial statements were: Mr Henry Cator Mr Simon Daniels Mrs Susan Lord

J C MANN CHARITABLE TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 1 OCTOBER 2025

Organisation and decision making

The trustees meet once a year to review the charity's financial performance and to consider applications for grants. During the year the trustees liaise on progress and to make any necessary decisions relating to the expenditure of funds.

Administration of the trust is carried out by Argents Accountants Ltd, the trust's accountants. Investment decisions are made by the stockbrokers, CCLA, who provide a discretionary management service for the Trust.

Relationship with related parties

Connected Charity

The Roger Harrison Trust is a connected charity by virtue of the trustees of the Roger Harrison Trust also being trustees of the John Colman Mann Charitable Trust. There were no transactions between the two charities during the year.

The trustees' report was approved by the Board of Trustees.

Mr Henry Cator

Trustee

10 December 2025

J C MANN CHARITABLE TRUST

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF J C MANN CHARITABLE TRUST

I report to the trustees on my examination of the financial statements of J C Mann Charitable Trust (the trust) for the year ended 1 October 2025.

Responsibilities and basis of report

As the trustees of the trust you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.

I report in respect of my examination of the trust’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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 financial statements to be reached.

Mark Johnstone FCA

Argents Accountants 15 Palace Street NORWICH Norfolk NR3 1RT United Kingdom

Dated: 10 December 2025

J C MANN CHARITABLE TRUST

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 1 OCTOBER 2025

Unrestricted Endowment
funds
funds
2025
2025
Notes
£
£
Income from:
Investments
2
44,695
-
Total income
44,695
-
Expenditure on:
Charitable activities
3
36,362
-
Other expenditure
8
63
-
Total expenditure
36,425
-
Net gains/(losses) on
investments
9
-
(68,636)
Net income/(expenditure) and
movement in funds
8,270
(68,636)
Reconciliation of funds:
Fund balances at 2 October
2024
94,216
1,590,785
Fund balances at 1 October
2025
102,486
1,522,149		 Total
Unrestricted Endowment
funds
funds
2025
2024
2024
£
£
£
44,695
43,506
-
44,695
43,506
-
36,362
29,727
-
63
62
-
36,425
29,789
-
(68,636)
-
138,418
(60,366)
13,717
138,418
1,685,001
80,499
1,452,367
1,624,635
94,216
1,590,785		 Total
2024
£
43,506
43,506
29,727
62
29,789
138,418
152,135
1,532,866
1,685,001

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

J C MANN CHARITABLE TRUST

BALANCE SHEET

AS AT 1 OCTOBER 2025

Notes
Fixed assets
Investments
11
Current assets
Debtors
12
Cash at bank and in hand
Creditors: amounts falling due within
one year
13
Net current assets
Total assets less current liabilities
The funds of the trust
Endowment funds
14
Unrestricted funds
15		 2025
£
£
1,522,149
11,418
99,948
111,366
(8,880)
102,486
1,624,635
1,522,149
102,486
1,624,635		 2024
£
£
1,590,785
11,026
85,590
96,616
(2,400)
94,216
1,685,001
1,590,785
94,216
1,685,001		 2024
£
£
1,590,785
11,026
85,590
96,616
(2,400)
94,216
1,685,001
1,590,785
94,216
1,685,001
1,685,001
1,590,785
94,216
1,685,001

The financial statements were approved by the trustees on 10 December 2025

Mr Henry Cator Trustee

Mr Simon Daniels Trustee

J C MANN CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 OCTOBER 2025

1 Accounting policies

Charity information

J C Mann Charitable Trust is a unincorporated charity.

1.1 Accounting convention

The financial statements have been prepared in accordance with the trust's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The trust is a Public Benefit Entity as defined by FRS 102.

The trust has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the trust. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the trust has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the trust.

1.4 Income

Income is recognised when the trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the trust has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the trust has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

J C MANN CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 1 OCTOBER 2025

1 Accounting policies

(Continued)

1.5 Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

1.6 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.7 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8 Financial instruments

The trust has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the trust's balance sheet when the trust becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the trust’s contractual obligations expire or are discharged or cancelled.

J C MANN CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 1 OCTOBER 2025

1 Accounting policies

(Continued)

1.9 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the trust is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2 Income from investments

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Income from listed investments 44,520 43,351
Interest receivable 175 155
44,695 43,506

3 Expenditure on charitable activities

Core Core
activites activites
2025 2024
£ £
Direct costs
Grant funding of activities (see note 4) 33,482 27,327
Share of support and governance costs (see note 5)
Governance 2,880 2,400
36,362 29,727
Analysis by fund
Unrestricted funds 36,362 29,727
4 Grants payable
Core Core
activites activites
2025 2024
£ £
Grants to institutions (1 grant):
NIAB 27,482 15,647
RNAA 6,000 11,680
33,482 27,327

J C MANN CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 1 OCTOBER 2025

5 Support costs allocated to activities

Core activites
2025
£
Governance
2,880
Governance costs comprise:
Audit fees
Accountancy
6
Net movement in funds
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial
statements		 Total
2025
£
2,880
2025
£
1,320
1,560
2,880
2025
£
1,320		 Total
2024
£
2,400
2024
£
1,080
1,320
2,400
2024
£
1,080

7 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the trust during the year.

8 Other

Unrestricted Unrestricted
funds funds
2025 2024
Financing costs 63 62
63 62
9 Gains and losses on investments
Endowment Endowment
funds funds
2025 2024
Gains/(losses) arising on: £ £
Revaluation of investments (68,636) 138,418

J C MANN CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 1 OCTOBER 2025

10 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

11 Fixed asset investments

Listed
investments
£
Cost or valuation
At 2 October 2024 1,590,785
Valuation changes (68,636)
At 1 October 2025 1,522,149
Carrying amount
At 01 October 2025 1,522,149
At 01 October 2024 1,590,785

12 Debtors

Amounts falling due within one year:
Prepayments and accrued income
13
Creditors: amounts falling due within one year
Other creditors
Accruals and deferred income		 2025
£
11,418
2025
£
6,000
2,880
8,880		 2024
£
11,026
2024
£
-
2,400
2,400

14 Endowment funds

Endowment funds represent assets which must be held permanently by the trust. It can be realised if the Norfolk Agricultural Station (now part of NIAB) ceases to exist, or is absorbed by the government in some way.

Income arising on the endowment funds can be used in accordance with the objects of the trust and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund.

At 2 October Gains and At 1 October
2024 losses 2025
£ £ £
Expendable endowments
1,590,785 (68,636) 1,522,149

J C MANN CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 1 OCTOBER 2025

14 Endowment funds (Continued)
Previous year: At 2 October Gains and At 1 October
2023 losses 2024
£ £ £
Expendable endowments
1,452,367 138,418 1,590,785

15 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At
General funds
Previous year:
At
General funds
Analysis of net assets between funds
At 1 October 2025:
Investments
Current assets/(liabilities)
At 1 October 2024:
Investments
Current assets/(liabilities)		 2 October
2024
Incoming
resources
Resources
expended
At
£
£
£
94,216
44,695
(36,425)
2 October
2023
Incoming
resources
Resources
expended
At
£
£
£
80,499
43,506
(29,789)
Unrestricted
Endowment
funds
funds
2025
2025
£
£
-
1,522,149
102,486
-
102,486
1,522,149
Unrestricted
Endowment
funds
funds
2024
2024
£
£
-
1,590,785
94,216
-
94,216
1,590,785		 1 October
2025
£
102,486
1 October
2024
£
94,216
Total
2025
£
1,522,149
102,486
1,624,635
Total
2024
£
1,590,785
94,216
1,685,001

16 Analysis of net assets between funds

J C MANN CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 1 OCTOBER 2025

17 Related party transactions

There were no disclosable related party transactions during the year (2024 - none).