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2025-06-30-accounts

Charity number: 273972

THE JAMES HENRY GREEN CHARITABLE TRUST

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

THE JAMES HENRY GREEN CHARITABLE TRUST

CONTENTS

Page
Reference and administrative details of the charity, its trustees and advisers 1
Trustees' report 2 - 4
Independent examiner's report 5 - 6
Statement of financial activities 7
Balance sheet 8
Notes to the financial statements 9 - 14

THE JAMES HENRY GREEN CHARITABLE TRUST

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 JUNE 2025

Trustees Professor R Elmhirst, Chair Professor M J Hitchcock (deceased 10 January 2025) Professor A Herle Professor L A Tythacott (resigned 17 October 2025) Ms J Weeks Mr N A Bence-Trower Charity registered number 273972 Principal office 49 Hills Road Steyning West Sussex BN44 3QG Accountants Wellden Turnbull Limited Albany House Claremont Lane Esher Surrey KT10 9FQ Investment Advisors Cazenove Capital 1 London Wall Place London EC2Y 5AU

Page 1

THE JAMES HENRY GREEN CHARITABLE TRUST

TRUSTEES' REPORT FOR THE YEAR ENDED 30 JUNE 2025

The Trustees present their annual report together with the financial statements for the period 1 July 2024 to 30 June 2025.

OBJECTIVES AND ACTIVITIES

POLICIES AND OBJECTIVES

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the charity commission relating to public benefit. The Trustees have reviewed the charity's needs for reserves in line with the guidance issued by the Charity Commission and maintain sufficient unrestricted funds in order that the charity can run efficiently and continue to meets its aims.

GRANT MAKING POLICIES

Grants are payable to the Royal Pavilion and Museums Trust and are all allocated to the Brighton Museum, which agrees an annual budget with trustees. The sums received by the museum reflect the principal objectives of the Trust, that is, to house and look after the Green Collection, and to support related public education and scholarship. Hence the budget includes support for a Curator position, an annual scholarship grant and matched funding of exhibitions.

ACHIEVEMENTS AND PERFORMANCE

REVIEW OF PROGRESS AND ACHIEVEMENTS

The Charity continued to support a range of activities relating to the care of the Green Collection with an annual award of £80,000 which contributes to the support of a Curator post focused on collections management and improving storage conditions and also contributes to the cost of facilitating loans of Burmese textiles from the Green Collection to major exhibitions and displays.

The Trust’s funds also supported several new displays, temporary exhibitions and public engagement activities featuring items from the Green Collection, as part of the Royal Pavilion and Museums Trust Culture Change Programme. These activities served to further amplify the museum’s work in World Culture and brought the Green Collection to new audiences in Brighton and surrounding areas.

Support for postgraduate studies continued in 2024-25 with the Trust supporting a studentship associated with the MA course Curating Collections, based at the University of Brighton. The studentship included an internship period working alongside the Green Collection in Brighton Museum.

Through its annual award the Trust intends in 2025/26 to continue these spending priorities to support the Royal Pavilion and Museums Trust to help fund ongoing work relating to research on, education about and care for the Green Collection in the context of World Culture at Brighton Museum and Art Gallery. An additional request for £11,569 to support legacy activities from the Culture Change programme was approved for 2025-26. Trustees agreed to an uplift of the annual grant to the Museum from £80,000 to £100,000 in recognition of increased costs, and on the basis that this would be reviewed annually. This will support additional curatorial work associated with the collection and maintain support for postgraduate studies. A priority for the Trust in 2024/25 was to review its legal Objects to ensure these are fully serving the primary objective of looking after the Green Collection sustainably and in 2025/26 an application to alter the Trust’s Objects will be made. Trustee Professor Louise Tythacott resigned as a Trustee in October 2025. The trustees wish to thank her for her work with the charity during her trusteeship.

Early in January 2025, the Chairman Michael Hitchcock suddenly and unexpectedly passed away. The trustees wish to acknowledge and record their appreciation for the knowledge and commitment he made to the charity.

Page 2

THE JAMES HENRY GREEN CHARITABLE TRUST

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 30 JUNE 2025

INVESTMENT POLICY AND PERFORMANCE

Investment decisions are taken by the trustees in conjunction with the investment advisors and it is the intention of the trust to maximise the income and capital returns on investments from a diversified multi-asset portfolio.

FINANCIAL REVIEW

REVIEW OF FINANCIAL ACTIVITIES AND AFFAIRS

The income of the trust consists entirely of the dividends and interest received on its investment portfolio. The expenditure consists almost entirely of payments to the Brighton Museum, which prepares an annual programme and budget for the use of these payments, which is agreed with the trustees.

It is the policy of the charitable trust to treat the annual income as available for expenditure provided that the trustees are satisfied that the level of income is sustainable over the coming years.

STRUCTURE, GOVERNANCE AND MANAGEMENT

CONSTITUTION AND OBJECTS

The charity was created under a trust deed in April 1977, as amended July 1993 and as amended 20 November 2020, with the main aim of maintaining and providing access for the public to see Lt. Col. James Henry Green's collection of textiles and other artifacts from what is now Myanmar (formerly Burma).

Since 1992 this collection has been housed at the Brighton Museum, and in 1998 the World Culture collection achieved "Designation status" from the Museums and Galleries Commission as an ethnographic collection of national importance.

Income from the Trust's investment portfolio is made available through quarterly payments to the museum to support ongoing curatorial care for the Green Collection, as well as to finance related activities of the Green Centre for World Art (now renamed World Culture) at the museum. This includes the development and dissemination of understanding of world culture, with particular emphasis on Myanmar (formerly Burma) through research and educational projects for scholars, students and the museum public.

ORGANISATION

The Trustees who have served during the year and since the year end are set out on the legal and administrative information page. Trustees are appointed by the board of trustees and are appointed for a limited period in accordance with Charity guidelines. New trustees, if required, would be recruited on a 'skills required' basis and would be inducted and trained by attending Trustee meetings. The Trustees meet regularly and, in any event, at least once a year, As long as there are not less than three trustees, decisions can be made by a majority of the trustees and any action or decision of that majority becomes effectual and valid.

Page 3

THE JAMES HENRY GREEN CHARITABLE TRUST

TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 30 JUNE 2025

TRUSTEES' RESPONSIBILITIES STATEMENT

The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial 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 charity for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report was approved by the Trustees, on 20 April 2026 and signed on their behalf by:

Professor R Elmhirst, Chair

Page 4

THE JAMES HENRY GREEN CHARITABLE TRUST

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 JUNE 2025

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE JAMES HENRY GREEN CHARITABLE TRUST (the 'charity')

I report to the charity Trustees on my examination of the accounts of the charity for the year ended 30 June 2025.

This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's Trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report.

RESPONSIBILITIES AND BASIS OF REPORT

As the Trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the 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 145(5)(b) of the 2011 Act.

INDEPENDENT EXAMINER'S STATEMENT

Your attention is drawn to the fact that the charity has prepared the accounts in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts 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 been withdrawn.

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I can confirm that no matters have come to my attention 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 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.

Page 5

THE JAMES HENRY GREEN CHARITABLE TRUST

INDEPENDENT EXAMINER'S REPORT (continued) FOR THE YEAR ENDED 30 JUNE 2025

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.

Signed:

Dated: 20 April 2026

Robin John, FCA CTA

WELLDEN TURNBULL LIMITED

Albany House Claremont Lane Esher Surrey KT10 9FQ

Page 6

THE JAMES HENRY GREEN CHARITABLE TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2025

Note
INCOME AND ENDOWMENTS FROM:
Investments
2
TOTAL INCOME AND ENDOWMENTS
EXPENDITURE ON:
Charitable activities:
Charitable activities
Governance
TOTAL EXPENDITURE
3,4
NET INCOME BEFORE INVESTMENT GAINS
Net gains on investments
6
NET INCOME BEFORE OTHER
RECOGNISED GAINS AND LOSSES
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS:
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Endowment
funds
2025
£
-
-
-
-
-
-
65,346
65,346
65,346
2,193,384
2,258,730		 Unrestricted
funds
2025
£
132,085
132,085
100,000
20,547
120,547
11,538
32,255
43,793
43,793
1,014,691
1,058,484		 Total
funds
2025
£
132,085
132,085
100,000
20,547
120,547
11,538
97,601
109,139
109,139
3,208,075
3,317,214		 Total
funds
2024
£
132,232
132,232
60,000
11,383
71,383
60,849
229,192
290,041
290,041
2,918,034
3,208,075

The notes on pages 9 to 14 form part of these financial statements.

Page 7

THE JAMES HENRY GREEN CHARITABLE TRUST

BALANCE SHEET AS AT 30 JUNE 2025

Note
FIXED ASSETS
Investments
6
CURRENT ASSETS
Cash at bank and in hand
CREDITORS:amounts falling due within
one year
7
NET CURRENT ASSETS
NET ASSETS
CHARITY FUNDS
Endowment funds
8
Unrestricted funds
8
TOTAL FUNDS		 2025
£
£
3,226,468
92,858
(2,112)
90,746
3,317,214
2,258,730
1,058,484
3,317,214		 2024
£
£
3,128,867
81,252
(2,044)
79,208
3,208,075
2,193,384
1,014,691
3,208,075		 2024
£
£
3,128,867
81,252
(2,044)
79,208
3,208,075
2,193,384
1,014,691
3,208,075
3,208,075
2,193,384
1,014,691
3,208,075

The financial statements were approved by the Trustees on 20 April 2026 and signed on their behalf, by:

Professor R Elmhirst, Chair

The notes on pages 9 to 14 form part of these financial statements.

Page 8

THE JAMES HENRY GREEN CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

1. ACCOUNTING POLICIES

1.1 Basis of preparation of financial statements

The financial statements have been prepared to give a 'true and fair' view and 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 Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance 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 (FRS 102) issued on 16 July 2014 and Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and Charities Act 2011.

The James Henry Green Charitable Trust constitutes a public benefit entity as defined by FRS 102.

The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £1.

1.2 Income

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Investment income is accounted for in the period in which the charity is entitled to receive it.

1.3 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.

Charitable activities and Governance costs are costs incurred on the charity's educational operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

Expenditure includes attributable VAT where this cannot be recovered.

Page 9

THE JAMES HENRY GREEN CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

1. ACCOUNTING POLICIES (continued)

1.4 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the balance sheet date, unless fair value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading ‘Gains/(losses) on investments’ in the statement of financial activities.

1.5 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

1.6 Liabilities and provisions

Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.

1.7 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Endowment funds represent those assets which must be held permanently by the charity, principally investments. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income.

Investment income, gains and losses are allocated to the appropriate funds.

1.8 Taxation

The Trust is recognised as a charity by HMRC and benefits from exemption on income and gains to the extent they are applied for Charitable purposes.

1.9 Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.10 Creditors and Provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for and trade discounts due.

Page 10

THE JAMES HENRY GREEN CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

1. ACCOUNTING POLICIES (continued)

1.11 Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at the carrying value plus accrued interest less repayments. The financing charge to expenditure is at a constant rate calculated using the effective interest method.

2. INVESTMENT INCOME

Dividends - UK equities
Other interest and distributions
Total 2024		 Endowment
funds

2025
£
-
-
-
-		 Unrestricted
funds
2025
£
128,567
3,518
132,085
132,232		 Total
funds
2025
£
128,567
3,518
132,085
132,232		 Total
funds
2024
£
129,518
2,714
132,232

3. GRANTS TO INSTITUTIONS

Grants to the Royal Pavilion and Museums
Trust
Total 2024
GOVERNANCE COSTS

Independent examiner's fee
Investment manager's fees / (rebate)
Legal and professional		 Endowment
funds

2025
£
-
-
Endowment
funds

2025
£
-
-
-
-		 Unrestricted
funds
2025
£
100,000
60,000
Unrestricted
funds
2025
£
1,878
9,704
8,965
20,547		 Total
funds
2025
£
100,000
60,000
Total
funds
2025
£
1,878
9,704
8,965
20,547		 Total
funds
2024
£
60,000
Total
funds
2024
£
1,830
9,005
548
11,383

4. GOVERNANCE COSTS

Page 11

THE JAMES HENRY GREEN CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

5. NET INCOME/(EXPENDITURE)

During the year no Trustees received any remuneration (2024 - £nil). During the year no Trustees received any benefits in kind (2024 - £nil). During the year Trustees were reimbursed travel expenses amounting to £nil (2024 - £nil).

6. FIXED ASSET INVESTMENTS

Market value
At 1 July 2024
Revaluations
At 30 June 2025
Analysis of material investments

Equities and property
7.
CREDITORS: Amounts falling due within one year
Accruals and deferred income		 30 June

2025
£
3,226,468
3,226,468
2025
£
2,112

Listed
securities
£
3,128,867
97,601
3,226,468
30 June
2024
£
3,128,867
3,128,867
2024
£
2,044

8. STATEMENT OF FUNDS

STATEMENT OF FUNDS - CURRENT YEAR

Unrestricted funds
General Funds - all funds
Endowment funds
Endowment Funds - all funds
Total of funds
 Balance at 1
July 2024
£
1,014,691
2,193,384
3,208,075		 Income
£
132,085
-
132,085		 Expenditure
£
(120,547)
-
(120,547)		 Gains/
(Losses)
Balance at 30
June 2025
£
£
32,255
1,058,484
65,346
2,258,730
97,601
3,317,214

Page 12

THE JAMES HENRY GREEN CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

8. STATEMENT OF FUNDS (continued)

STATEMENT OF FUNDS - PRIOR YEAR

General Funds - all funds
Endowment Funds - all funds
Total of funds
 Balance at
1 July 2023
£
878,150
2,039,884
2,918,034		 Income
£
132,232
-
132,232		 Expenditure
£
(71,383)
-
(71,383)		 Gains/
(Losses)
Balance at 30
June 2024
£
£
75,692
1,014,691
153,500
2,193,384
229,192
3,208,075

9. ANALYSIS OF NET ASSETS BETWEEN FUNDS

ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR

Endowment
funds
Unrestricted
funds
2025
£
2025
£
Fixed asset investments
2,258,730
967,738
Current assets
-
92,857
Creditors due within one year
-
(2,111)
2,258,730
1,058,484		 Total
funds
2025
£
3,226,468
92,857
(2,111)
3,317,214

ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR

Endowment
funds
Unrestricted
funds
2024
£
2024
£
Fixed asset investments
2,193,384
935,483
Current assets
-
81,252
Creditors due within one year
-
(2,044)
2,193,384
1,014,691		 Total
funds
2024
£
3,128,867
81,252
(2,044)
3,208,075

10. GRANT COMMITMENTS

At 30 June 2025 the charity had capital commitments as follows:

Grant commitments not provided in these financial statements

2025 2024
£ £
111,569 80,000

At the balance sheet date, the trust was committed to pay the above sums to The Royal Pavilion and Museums Trust in respect of Brighton Museum.

Page 13

THE JAMES HENRY GREEN CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

11. RELATED PARTY TRANSACTIONS

There were no related party transactions other than disclosed in the notes to the financial statements.

12. CONTROLLING PARTY

There is no ultimate controlling party.

Page 14