THE J A SHONE MEMORIAL TRUST
ANNUAL REPORT
FOR THE YEAR ENDED 5- APRIL 2021

THE J A SHONE MEMORIAL TRUST
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TRUSTEES, REPORT FOR THE YEAR ENDED 5 APRIL 2021
The financial statements have been prepared in accordance with tha Statement of Recommended
Practice.. Accounting and Reporting by Charities {SORP 2015) preparing their accounts in
accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland
(FRS102) update bulletin 2 (effective 1 January 2019) and Charities Acl 2011.
OBJECTIVES AND ACTIVITIES
The Trust has been established to make grants for charitable purposes. Grants are m8de only to
registered charities known lo tlie Trustees and unsolicited applications are thorefore not considered.
The Trust is administered by its corporate Trustee, Liverpool Charity and Voluntary S8rvices.
Public Benefit:
In planning the Trust's grant making activities the Trustees have given consideration to the Charity
Commission's guidance on public benefit.
ACHIEVEMENTS AND PERFORMANCE
The investments have been monitored throughout the year by the Investment Managers, with
performan￿ being reviewed by the Trustees at regular intervals.
FINANCIAL REVIEW
Investment income totalling £36,330 {2020- £40.581) was received in the year. This funded grants
of £32,000 (2020.. £37.500) lo charitable organisations. At 31. March 2021 capital investments were
valued at £938,592 {2020: £818,689).
Reserves Policy:
The Trustees are managing the reserves to balance th8 needs of current and future beneficiaries. It
is not anlicipated thal the needs of beneficiaries wlll dlminlsh over time.
Risk Management:
The main risks, to which the charity is exposed, as identified by the Trustees, have been considered
and systems have been established to mitigate those risks.
Investment Policy and Powers:
The trustees have the power of inveslment as cOnfer￿d by Ihe Truslee Act 2000. The investment
strategy is sel by the trustees and takes account of recent demands for funds and an assessment of
expected fulure needs (see Reserves Policy). The investment policy and slrategy are reviewed with
the investment managers at regular inlervals. The investment objective is to maintain, overall, the
real value of capital and income.
Plans for the Future:
The objectives of the trust remain unchanged for the future. the Intention Is to contlnue managing
the funds on a consistent basis and distributing income as grants to those organisations in financial
need.

THE J A SHONE MEMORIAL TRUST
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TRUSTEES, REPORT FOR THE YEAR ENDED 5 APRIL 2021
Covid 19
Granls are made from the investment income received in the year. The impact of Covid 19 has
meant that the level of investment income received in the year has reduced consequently, the
Trustees have revised their granl making programme.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The J A Shone Memorial Trust is a registered charity, number 270104. It was established by a Trust
Deed datod 25 ' March 1974.
Oryanisation, Management and Delegation.
The Trust Deed permits the spending of capital., the Trustees have, however, agreed to retain th6
capital for the time being and lo invest it lo produce income to make grants.
Recruitment and Appointment of New Trustees:
New Trustees are selected, by the existing Board of Trustees, in accordan￿ wth their skills and
axperience. The Board is also responsible for the induction and Iraining of the new Truslees.
RELATED PARTIES
During the year the Trust's coworata Trustee, Liverpool Charity and Voluntary SeNices, received
£750 <2020.. £750) for Ihe provision of administration services and preparation of annual accounts,.
this was authorised by the Trustees in accordance with the trust deed.
REFERENCE AND ADMINISTRATIVE DETAILS
Princlpal Office:
151 Dale Street, Liverpool L2 2AH
Trustees:
The Trustees during the year wgre..
Mr A. W. Shone
Mr J. D. W. Stileman
Mrs E. J. Crowe
Liverpool Charity and Voluntary servI￿s
The charity's corporate Trustee, Liverpool Charity and Voluntary Services (LCVS), 151 Dale Streat,
Llverpool L2 2AH, is incorporated under the Companies Act as a company limited by guarantee
without share capital as company numbor 181759. IÉ is also a registered charily, number 223485,
and a charilable Trust Corporation. The Truslees of LCVS, who are also Its Directors. were as
follows during the year= Heather Akehurst, Dorcas Akeju, Duncan Brookes (resigned 14 December
2020), Jonathan Heskelh, Michael James (resigned 27, April 20211. Steven Long (resigned 29
January 2021), Andrew Lovelady (resigned 1 December 20201, Kenneth Perry, John Price,
Michael Salla, Louise Scholes, James Sloan, Michael Thomas and Susan Williams.The following
Irustees were appointed 20 May 2021.. Sonia Bassey MBE, Maxine Ennis, Neil John Sturmey and
Henry Terefenko.

THE J A SHONE MEMORIAL TRUST
TH
TRUSTEES, REPORT FOR THE YEAR ENDED 5 APRIL 2021
Professional Advisers:
Independent Exarniner
Anna Spencer-Gray
RSM UK Tax and Accounting Limited
20 Chapel Street.
Liverpool L3 9AG
Inveslec Wealth & Investment
100 Old Hall Street
Liverpool L3 9AB
Investment Managers
TRUSTEES, RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS
The charity's trustees are responsible for preparing a trustees, annual report and financial
statements in accordance with applicable law and United Kingdom Accounting Standards (United
Kingdom Generally Accepted Accounting Practice)- The13w applicable to charities in England and
Wales requires the charity trustee lo prepare financial statements for each year which give a Irue
and fair view of the state of affairs of the charity and of the incoming resources and application of
resources, of the charity for that period. In preparing Ihe financial statements, Ihe trustee is required
to..
select suitable accounting policies and then apply them consistèntly,
obseNe the methods and principles in the applicable Charities SORP.,
make judgements and estimates that are reasonable and prudent,.
state whether applicable accounting standards have been followed, subject to any material
departures that must be disclosed and explained in the financial slatemenls-
prepare the financial statements on the going concern basis unless it is inappropriate to
presume that Ihe charity will continue in business.
The Irustees are rosponsible for keeping proper accounting records that disclose with reasonable
accuracy at any time the financial position of the charity and to enable them to ensure that ihe
financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and
Reports) Regulations, 2nd the provisions of Ihe Trusl deed. They are also responsible for
safeguarding the assets of the charity and taking reasonable steps for the prevention and detection
of fraud and other Irregularitles.
Approved by the Trustees and signed on their behalf by
A W Shone

Independent Examinerfs Report to the Trustees of
The J A Shone Memorial Trust
I report to the trustees on my examination of the accounts of The J A Shone Memorial Trust ('the
charily.) for the year ended 5 April 2021. whiGh are sel out on pages 6 to 12.
Responsibllitles and basis of report
As the trustees of Ihe charily you are responsible for the preparation of the accounts in accordan
with the requirements of the Charities Act 2011 ('Ihe 2011 Acl.).
I report in respect of my examination of the charily's accounts carrted out under section 145 of the
201 q Act and in carrying out my examination I have followed all the applicable Directions given by
tlie Charity Commission under section 145 {5)(b) of the 2011 Act.
An independent examination does not involve gathering all the eviden￿ that would be required in
an audit and consequently does not cover all the matters thal an auditor considers in giving their
opinion on the accounts. The planning and conduct of an audit goes beyond the limited assurance
that an independent examination can provide. Consequently. l express no opinion as to whether the
accounts present a Irue and fair and my report is limited to those specific matters set out in
Ihe independent examiner's statement.
Independent examinerfs statement
I have completed my examination. I confimi that no material matters have come to my attention in
connection wlh the examination giving Tne reasonable cause lo believe that in any material respect:
1. accounting records were not kept in respecl of the charity as reqUI￿d by section 130 of the
2011 Act- or
2. the accounts do not accord with those records., or
3. the accounts do not comply with the applicable requirements conceming the fomi and
content of accounts set OLrt in the Charities (Accounts and Reports) Regulations 2008 other
than any requirement that the accounls 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 wtth the examination to
which attention should be drawn in this rewrt in order to enable a proper understanding of the
accounts to be reached.
1cw
Name.. Anna Spencer￿raY
Name of applicable listed body: The Institute of Chartered Accountants in England and Wales
Relevant professional qualification or body.. Chartered Accountant
ON BEHALF OF RSM UK TAX AND ACCOUNTING LIMITED
Chartered Accountants
14 Floor
20 Chapel Street
Liverpool
L3 9AG
Date:
25 October 2021

THE J A SHONE MEMORIAL TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5- APRIL 2021
-UNRESTRICTED FUNDS------------
Ih
Yearto 5 A ril 2021
Income
Capilal
Notes Funds
Funds
Year lo
5 April 2020
Total
Total
Income from:
Investment income- quoted investments
Investment income- unquoted investments
17,470
18,860
17,470
18.860
21,926
18,655
Total income
36,330
36,330
40,581
Expenditur8:
Charitable activities
33,002
33,002
38,490
Total expenditure
33,002
33,002
38,490
Net income before gains and losses gains
on Investments
3,328
3,328
2,091
Nel unrealised gainsl(losses) on investment
assets
119,903 119,903
(89,0921
Nel Movement in Funds
Reconciliation of Funds..
Total funds brought fO￿ard
3,328
119,903 123,231
(87,001)
4,215 818,689 822,904 909,905
TOTAL FUNDS CARRIED FORWARD
7,543
938,592 946,135 822,904
Tha notes on pages 8 to 12 form part of these accounts.
The net movement in funds in the year was derived from the continuing actlvity af the charlty.
These unaudited flnancial staleinenls have been subjected lo independent examination. See report on page 5.

THE J A SHONE NIEMORIAL TRUST
BALANCE SHEET AS AT 5- APRIL 2021
.-UNRESTRICTED FUNDS--
At
5 April 2021
At
5 Aprll 2020
Notes
th
th
FIXED ASSETS
Quoted inveslments (at market value)
Unquoted investments
733.592
205,000
613,689
205,000
938,592
818.689
CURRENT ASSETS
Cash balance
8.539
5,205
CURRENT LIABILITIES
Creditors
(996)
1990)
7.543
4.215
NET ASSETS
946,135
822,904
THE FUNDS OF THE CHARITY:
Capital Funds
Incorne Funds
938,592
7,543
818,689
4,215
946,135
822,904
Approved and authorised for issue by the Trust88s and slgned on their behalf by
A W Shone
Dated:
sq
These unsudlted financial slalemenls have b¢en subjecled lo indepgnd£nt èxsminalion. See report on page 5.

THE J A SHONE MEMORIAL TRUST
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NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2021
ACCOUNTING POLICIES
Basis of Accounting
The accounts have been prepared under the historical cost convention with items recognised
at cost or transaction value unless otherwise slated in the relevant nole(s) to these accounts.
The financial statements have been prepared in accordan￿ with the Statement of
Recommended Practice: Accounting and Reporling by Charities (SORP2015) preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland (FRS102) and Charities Act 2011.
The trust constitutes a public benefit entiiy as defined by FRS 102.
The accounts are prepared in sterling, which is the funclional currency of the charity.
Monetary amounts in theso financial statements are rounded to the nearest £.
The Charity has taken advantsge of the provisions in the SORP for Charities applying FRS
102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
Golng concern
At the time of approving the accounts, given the Coronavirus pandemic, the trustees have a
reasonable expectalion that the charity has adequate resources to continue in operational
existence for the foreseeable future. ThLts the truslees continue to adopt the going concem
basls of accounting In preparing the accounts.
Fund accountin9
Unrestricted funds are considered 'free' resetves and are expendable at the discretion of the
Trustees in furtherance of the general objectives of the Trust.
Investments
Investments held as fixed assets, in accordance with SORP (FRS 102) are stated and
included in the balance sheet at their market value at the year end or the valuation dale
nearest to the year end. Investment in private companies, h81d as fixed assets, are slated
trustees, valuation subject to impaimient review. Realised gains and losses are dealt with as
movements on the Capital Fund. Investments are valued at the mid-market prits on the
valuation date.
The main form of financial risk faced by the charity Is that of votatility in equity markets and
investment markets du8 to wider economic condilions. The Trustees conduct a thorough risk
analysis in conjunction with thelr Investment managers at each of their Inveslment
Committee meelings.
Income recognition
Incom6 from investments comprises dividend income and interest and are acGounted for
when received in the financial y8ar.
Donations are recognised at the earlier of nolrficalion or date of receipt, in the c8se of the
third party donations and legacy income when received by the organisation.
Thesé unaudi18d linancizl stat8mÈnts have béen subjected lo independent exaininalion, Se¢ report on page J.

THE J A SHONE MEMORIAL TRUST
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NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2021
Expenditure recognition
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation
committing the charity to that expendilure, il is probable that settlement ￿rill be required and
the amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis. All expenses, induding support costs
and governance costs, are allocated or apportioned to the applicable expenditure headings in
Ihe Statement of Financial Activities.
Charilable activities includes grant funding, along with associated support costs, to
beneficiaries. These are dealt with in the Statement of Financial Activities when payment has
been approved by the charity. Support costs relate to Complian￿ with constitutional and
statutory requirements and specifically include all costs incurred by the ¢harity in producing
the Annual Report.
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.
Financial instruments
The charity has elected to apply the provisions of Section 11 'Basic Financlal Instruments,
and Soction 12 '0ther Financial Instruments Issues, of FRS 102 to all of its financial
instruments.
Financial instruments are recognised in the charity's balance sheel when the Charity
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 amoLJnls and
there is an intention to settle on a net basis or lo realise the asset and settle the liability
simultaneously.
Basic financial assets
Basic financial assels, which include debtors and cash and bank balances, are initially
measured at transaction price including transaction cosls and are subsequently carried at
amortised cost u.sing the effective interest method unless the arrangement constitutes a
financing transaction, where the transaction is measured at the present value of Ihe future
receipts discounted at a market rate of interest. Financial assels classified as receivable
within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, includlng creditors and bank loans are initially recognised al
transaction price unless the arrangemènt constitutes a financing transaction, where the debt
inslrument is measured at the presenl value of the futu￿ receipts discounted al a market rate
of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried al amortised cost, using the effective interest rate
method.
Tbese unaLidited financial $181emenls 1i8ve been subjèctèd lo Independent examination. See report on pagg 5.

THE J A SHONE MEMORIAL TRUST
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NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2021
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity's contractual obligations expire or are
discharged or cancelled.
Taxation
The Gharity benefits from various exemptions from taxation afforded by tax legislation and is
nol liable to corporation tax on income or gains falling within those exemptions. The charity is
not able to recover Value Added Tax. Expendilure is recorded in the accounls inclusive of
VAT.
CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS
In the application of the charity's accounting policies, the trustees are required to make
judgements, estimales and assumptions about the carrying amount of assets and liabilities
that are not readily apparÈnt from othèr sources. The estimates and associalad assumptions
are based on historical experience and other factors that are considered to be relevant.
Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to
accounting estimates are recognised in the period in which the estimate is revised where the
revision affects only that period, or in Ih@ period of th8 rèvision and future periods where the
revision affecls both current and future periods.
CHARITABLE ACTIVITIES
2021
2020
Direct charitable acliviti8s.- grant funding
Grant funding
Grant-making adminislration costs - LCVS
32,000
500
37,500
500
32,500
250
252
38,000
250
240
Support costs." LGVS administration
Independent examination fee
33,Q02
38,490
All expenditure is unrestricted.
These unaudited financial statements have bèen subjected to independet)t ex&minglion. See IEPOrt on page 5.
io

THE J A SHONE MEMORIAL TRUST
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NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2021
During the year the following grants were made..
Grants £1000 and over
Anglican International Development Aid
Friends of Mengo Hospital
ICanandlAm
Mission Aviation Fellowship
Nouro Therapy Centre
St James Youth
st Luke's Health Care
The Whitechapel Centre
Wirral Ark
2,000
1,000
5,000
4,000
2,500
5,000
2,500
5,000
5,000
32,000
FIXED ASSET INVESTMENTS
2020
2020
Quoted and Un
uoted Investments:
Market value at 6 April 2020
Unrealised gainslllosses) on investment assets
818,689
119,903
907,781
{89,092)
Market Value at 5 April 2021
938,592
818,689
th
Book Value at 5 April 2021
619,491
619,491
The Trust holds 78.16°/0 {2020= 74.96 /4)) of its fixed asset investments in a Charily
Commission approved pooling scheme, tho Sottlors, Trust Fund (STF), administered by
Liverpool Charity and Voluntary Services and Investec Wealth and Investment.
At 31. March 2021. Ihe assets ofthe STF fund had a tolal market value of £31,103,291
(2020: £25,593,350) of which £733,592 (2020.. £613,689) Is an asset of the trust.
The remaining 21.84/. (2020.. 25.04 % ) of fixed ass@t investments comprises 2,050 shares in
W.0 & J Wilson Limited a private limited company. The shares are stated at trustees.
valuation subject lo impairment review of £205,000 {2020.' £205,000).
These unaudited financial statements have been subjected to indepeiident examination. See report on page 5

THE J A SHONE MEMORIAL TRUST
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NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2021
CREDITORS
2021
2020
Financial administration - LCVS
Independent examination fee
750
246
750
240
996
990
UNRESTRICTED FUNDS
Incom8 Fund.. Investment income received for distribution as grants to registéred charities.
Capital Fund.. Funds held provide income for the ongoing activities of the trust.
RELATED PARTY TRANSACTIONS
Chantable Activities.. include £500 (2020.- £500) grant making adrninistralion costs and £250
(2020: £250) in respect of accountancy and trust administration payable lo LCVS.
At 5 April 2021, creditors included an accrual of £750 {2020'. £750) to LCVS.
LCVS is related to the Trust by virtue of LCVS belng the Trust's corporate trustee.
ThÈse unaudEted linandal statements have been subjected lo indepeiidenl examination. See report on page 5
12