THE J A SHONE MEMORIAL TRUST UNAUDITED ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2026 CHARITY NUMBER- 270104
THE J A SHONE MEMORIAL TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 5TTrI APRIL 2026 The Trustees present their annual report and financial statements of the charity for the year ended 5th April 2026. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and complywith the charity's trust deed, the Charities Act 2011 and Accounting and Reporting by Charities: Stalement of Recommended Practi applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) OBJECTIVES AND ACTIVITIES The Trust has been established to make grants for charitable purposes. Grants are made only to registered charities known to the Trustees and unsolicited applications are therefore not considered. The Trust is administered by its corporate Trustee, Liverpool Charity and Voluntary Services. 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 throughoutthe year bythe Investment Managers, wtth perfomance being reviewed by the Trustees at regular intervals. FINANCIAL REVIEW InveslJnent income totalling £56,963 (2025.. £60,587) was received in the year. This funded grants of £55,000 (2025.. £59,000) to charitable organisations. At 5th April 2026 capital investments were valued at £1,008,093 (2025: £953,679). At the 5th April 2026 the trust's reserves were £1,010,449 (2025: £956,217). Reserves Policy: The Trustees are managing the reserves to balan the needs of current and future beneficiaries. It is not anticipated that the needs of benefiGiaries will diminish over time. Risk Management: The main risks, lo which the charity is exposed, as identified by the Trustees, have been considered and systems have been established to mitigate those risks. Investment PoliGy and Powers: The trustees have the power of investment as agreed by the Trustee Act 2000. The investment strategy is set by the trustees and takes account of recent demands for funds and an assessment of expected future needs (see Reserves Policy). The investment policy and strategy are reviewed with the investment managers at regular intervals. The investment objective is to maintain, overall, the real value of capital and income.
THE J A SHONE MEMORIAL TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 5TH APRIL 2026 Plans for the Future: The objectives of the trust remain unchanged for the future-, the intention is to continue managing the funds on a consistent basis and distributing income as grants to those organisations in financial need. STRUCTURE. GOVERNANCE AND MANAGEMENT The J A Shone Memorial Trust is a registered charty, number 270104. It was established by a Trust Deed dated 25th March 1974. Organisation, Management and Delegation: The Trust Deed permits the spending of capital" the Trustees have, however, agreed to retain the capital for the time being and to invest it to produce income to make grants. Recruitment and Appointment of New Trustees: New Trustees are selected, by the existing Board of Trustees, in accordance with their skills and experien. The Board is also responsible for the induction and training of the new Trustees. REFERENCE AND ADMINISTRATIVE DETAILS Name Charity number Principal Office The J A Shone Memorial Trust 270104 LCVS 151 Dale Street, Liverpool, L2 2AH E J Crowe S A Moore (died 29th March 2026) A W Shone J D W Stileman Liverpool Charity and Voluntary Services (LCVS), a corporate trustee, which is incorporated under the Companies Act as a company limited by guarantee without share capital as company number 181759, a registered charity, number 223485, and a charitable Trust Corporation. LCVS trustees, who are also its directors, were as follows during the year. Sonia Bassey MBE (Resigned 5th January 2026) Mike Thomas Trustees Trustees LCVS Chair LCVS Treasurer
THE J A SHONE MEMORIAL TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 5TH APRIL 2026 LCVS Trustees Dorcas Akeju (Resigned 3rd December 2025) Sonia Bassey MBE (Resigned 5th January 2026) Christopher D Colwell (Appointed 3rd June 2025) Maxine Ennis Anna James Dr Hardamanjit R Kaur (Resigned 23rd February 2026) Anne Reading Michael Salla Louise Scholes Gemm2 Shone James A Sloan Mike Thomas {Resigned 2nd June 2025) (Resigned 31st March 2026) Secretary Independent Examiner Helen Rotheram Paula Sanchez ACCA Score Lane, Liverpool, L16 5EF Rathbone Investment Management Lirnited Port of Liverpool Building, Pier Head, Liverpool L3 1 NW Investment Manager TRUSTEES, RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS The charty 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 ACpted Accounting Practice).S The law applicable to chartties in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources. of the charityforthat period. In preparing the financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently; observe 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 statements., prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
THE J A SHONE MEMORIAL TRUST TRUSTEES, REPORT FOR THE YEAR ENDED 5TH APRIL 2026 The trustees are responsible 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 the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, ar)d the provisions of the Trust deed. They are also responsible for safeguarding the assets of the chartty and taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the Trustees and signed on their behalf by IZ-6_i£ Anthony W Shone- Trustee
INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF THE J A SHONE MEMORIAL TRUST I report to the trustee on my examination of the accounts of The J A Shone memorial Trust {'the charity'} for the year to 5th April 2026, which are set out on pages 7 to 14. Responsibilities and basis of report As the trustee of the charity, you are responsible for the preparation of the accounts in accordan wtth the requirements ofthe Charities Act 2011 ('the 2011 Act,). I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515)(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 'lrue and fair view, and my report is limited to those specrfic matters set out in the independent examiner's statement. Independent examiner's statement I have completed my exarnination. I confimi that no material matters have come to my attention in connection with the examination giving me reasonable cause to believe that in any material respect". accounting records were not kept in respect of the charity as required 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 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. Name: Paula Sanchez Name of applicable listed body.. Association of Chartered Certified Accountants Relevant professional qualification or body= ACCA Date.. 77/6Q026
THE J A SHONE MEMORIAL TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5TH APRIL 2026 Unrestricted Funds Capital Funds 2026 Income Funds 2026 Total 2026 Total 2025 Income from: Investments Notes 56,963 56,963 60,587 Total income 56,963 56,963 60,587 Expenditure on: Charitable activities 57,145 57,145 61,360 Totsl expenditure 57,145 57,145 61,360 Net (expenditure)lin¢ome (182 (182) (773) Net (losses)Igains on investment 54,414 (6,507) Net movement in funds (1821 54,414 54,232 (7,280) Reconciliation of funds.. Total funds brought forward 2,538 953,679 956,217 963.497 Tot21 funds carried forward 2,356 1,008,093 1,010,449 956,217 The notes on pages 9 to 14 form part of these accounts. The net movement in the funds in the year is derived from the continuing activity of the charity.
THE J A SHONE MEMORIAL TRUST BALANCE SHEET AS AT 5TH APRIL 2026 5th April 2026 Fixed assets Investments sth April 2025 Notes 1,008,093 953,679 Current assets Debtors Cash balanS 3,501 3,638 3,638 Current liabilities Creditors (1,145) {1,100) Net current assets 2,356 2,538 Net assets 1,010,449 956,217 The funds of the charity: Unrestricted funds Capital funds Income funds 1,008,093 2,356 953,679 2,538 1,010,449 956,217 Approved and authorised for issue by the Trustees and signed on their behalf by Anthony W Shone- Trustee 12-6-z
THE J A SHONE MEMORIAL TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5TH APRIL 2026 1. ACCOUNTING POLICIES Basis of Accounting The financial statements have been prepared in accordan with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (SORP 2019) and Charities Act 2011. The trust constitutes a public benefit entity as defined by FRS 102. The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otheiSe stated in the relevant note(s} to these accounts. The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The Charity 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. Going concern At the time of approving the accounts. the trustee has reasonable expectation that the charity has adequate reseeS to continue in operational existen for the foreseeable future. Thus the trustee continues to adopt the going concern basis of accounting in preparing the accounts. Investments In accordance with Statement of Recommended Practice.. Accounting and Reporting by Charities (SORP 2019), investments held as fixed assets are stated at fair value. Realised and unrealised gains and losses are dealt with as movements on the Capital Fund. Investments are valued at the mid-market price on the valuation date. Fund accounting Unrestricted funds are considered 'free' reseNes and 2re available for use or retention at the discretion of the Truslees, in accordan with the charity's objectives. Free reserves are undesignated funds available forthe furtherance of the general objectives of the charity. Income recognition Income from investments comprises dividend income and interest and are accounted for when recetved in the financial year. Donations are recognised at the earlier of notification or date of receipt, in the case of the third-paty donations and legacy income when reiVed by the organisation. Expenditure recognition 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 settlement will be required, and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accrual basis. All expenses, including support and governance costs, are allocated or apportioned to the applicable expenditure headings in the statement of financial activities.
THE J A SHONE MEMORIAL TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5TH APRIL 2026 Raising funds costs relate to expenses incurred in the management of the investment assets. Charitable activities include 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. Governan costs relate lo compliance with constitutional and statutory requirements and specifically include all costs incurred by the charity 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 Financial Instruments, and Section 12 '0ther Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet 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 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 balans, are initially measured at transaction price including transaction cosls 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 re1vable within one year are not amortised. Basic financial liabilits.es Basic financial liabilities, including creditors 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 receipts discounted at a market rate of interest. Financial liabilities classified as payable wtthin one year are not amortised. Debt instruments are subsequently carried at amortised cost. using the effective interest rate method. Derecognition of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. io
THE J A SHONE MEMORIAL TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5TH APRIL 2026 Taxation The charity benefits from various exemptions from taxation afforded by tax legislation and is not liable to corporation tax on income or gains falling within those exemptions. Partial recovery is made of tax credits on UK dividend income. The chartty is not able to recover Value Added Tax. Expenditure is recorded in the accounts inclusive of VAT. Critical Accounting Estimates And Judgements In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assknmptions aboutthe carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and asqociated 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 the period of the revision and future periods where the revision affects both current and future periods. In the preparation of these accounts no Critical aoUntIng estimates orjudgements were applied. 2. Income and endowments from: Income Funds 2026 Capitsl Total Funds 2026 Total 2026 2025 Investments nvestments quoted Investments unquoted 24.163 32.800 24,163 23,175 32,800 37,412 56,963 56,963 60,587 3. Expenditure on charitable activities: Analysed as follows. 2026 2025 Direct Gharitable expenditurE.' Grant funding Grant making administration costs - LCVS Donation 55,000 500 59,000 500 1,000 1,000 56,500 60,500 li
THE J A SHONE MEMORIAL TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5TH APRIL 2026 2026 2025 Support & Governance costs.. Trustee's expenses Administration - LCVS Independent examination fee 260 250 350 250 395 645 860 Total expenditure on charitable activities 57,145 61,360 Out of pocket travel and meeting expenses of £nil <2025: £260) were reimbursed to three trustees in the year (2025= nil) The following grants were made during the year.. Grants of £1.000 and over Anglican Intemational Develop Army Benevolent Fund Charles Thompsons Mission Compass Liverpool Cathedral Mission Aviation Fellowship - Royal Liverpool Philharmonic St James Youth Stand By Me Whitechapel Centre Wirral Youth Zone Woodlands HospiGe 5.000 3,000 3,000 5,000 5,000 5,000 2,500 5,000 5,000 5,000 5,000 6,500 55,000 Grants under £1,000 Total grants 55,000 12
THE J A SHONE MEMORIAL TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5TH APRIL 2026 4. Fixed Asset Investments 2026 2025 Quoted Investments: Market value at 6th April 2025 Net unrealised gains/{losses) on investment assets 953,679 54,414 960,186 (6,507) Market Value at 5th April 2026 1,008.093 953,679 Book Value at 5th April 2026 414,491 414,491 The Trust holds 79.70/0 (2025.. 78.50/0) of its fixed asset investments in a Charity Commission approved pooling scheme, the Settlors, Trust Fund (STF), administered by Liverpool Charity and Voluntary Services and Investec Wealth and Investment. At 315t March 2026, the assets of the STF fund had a total market value of £33,815,233 {2025'. £33,333,064) of which £803,093 (2025.. £748,679) is an asset of the trust. The remaining 20.3 % {2025: 21.5 /0) of fixed asset investments comprises 2,050 shares in W.0 & J Wilson LimÈted a private limited company. The shares are stated at trustees, valuation subject to impairment review of £205,000 (2025.. £205,000). 5. Debtors There were no debtors during the year end 5th April 2026 (2025: £nil} 6. Creditors 2026 2025 Administration - LCVS Independent examination fee 750 395 750 350 1.145 1,100 7. Unrestricted Funds Income Fund= Investment income and donations received for distribution as grants to charitable voluntary organisations. Capital Fund= Funds held provide income for the ongoing activities of the trust. 8. Relatsd Party Transactions Charitable activities= these include £500 (2025.. £500} grant making administration costs payable to LCVS. Support and governan costs include £250 (2025: £250) total £750 {2025: £750) payable to LCVS in respect of accountancy and trusl administration Creditors: balan includes £870 (2025: £850) payable to LCVS at the year end. 13
THE J A SHONE MEMORIAL TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5TH APRIL 2026 LCVS received a donation of £1,000 (2025.. £1.000) during the year LCVS is related to the Trust by virtue of being the corporate trustees. During the financial year 2026, no trustees were reimbursed of £nil <2025.. £260 Iwo trustees) for travellmeeting expenses incurred. 14