**Charity registration number 278033** ## **THE JONATHAN TOWLER FOUNDATION** ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023 ## **THE JONATHAN TOWLER FOUNDATION** ## **LEGAL AND ADMINISTRATIVE INFORMATION** **Trustees** Mrs J E Robinson Mrs M R Power **Charity number** 278033 **Registered office** Hill Farm Halse BRACKLEY Northamptonshire NN13 6DY **Independent examiner** Old Mill Accountancy Limited Unit 2 Greenways Business Park Bellinger Close CHIPPENHAM Wiltshire England SN15 1BN **Bankers** HSBC 55 Corporation Street Coventry West Midlands CV1 1GX ## **THE JONATHAN TOWLER FOUNDATION** ## **CONTENTS** ||**Page**| |---|---| |Trustees' report|1 - 2| |Independent examiner's report|3| |Statement of assets and liabilities|4| |Receipts and payments account|5| |Notes to the financial statements|6 - 7| ## **THE JONATHAN TOWLER FOUNDATION** ## **TRUSTEES' REPORT** ## **FOR THE YEAR ENDED 5 APRIL 2023** The Trustees present their annual report and financial statements for the year ended 5 April 2023. The financial statements have been prepared in accordance with the accounting policies set out in note to the financial statements and comply with the Foundation'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). ## **Objectives and activities** The objective of the Foundation is to pay its income to or for such charitable institutions or purposes as the Trustees think fit. The focus of the Foundation's activities remains the payments of donations to other charitable institutions or organisations. In the Trustees views, these donations enable these charitable institutions or organisations to continue to provide the services and resources they provide to certain sections of the public, which in itself, represents a public benefit. ## _Public benefit_ The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Foundation should undertake. ## **Development of the Foundation** The Foundation derives its income from its investment assets, including cash deposits and bank accounts. The Trustees have adjusted the investments to provide a stream of income available for potential distribution to charitable institutions or other purposes and so as to provide a sound capital base for the long term future of the charity. ## **Financial review** The Foundation's income for the year, before receipts from its investment portfolio, was £59,011 (2022: £53,316). The Trustees have made grants for charitable purposes amounting to £45,038 (2022: £49,321) during the year, as shown in the receipts and payments account, with other payments made during the year, excluding investment income reinvested into its investment portfolio of £36,823 (2022: £28,786), representing administrative costs related to running the Foundation. The net assets of the Foundation at the year end were £2,083,081 (2022: £2,494,838). ## _Reserves policy_ The Trustees policy is to apply the income year on year as it is received, so that expenditure broadly matches the income received. Where there is a surplus income over expenditure the amount is reinvested for future income growth which will enable the Foundation to potentially make greater donations in the future. Free reserves at 5 April 2023 are in a deficit of £2,116 (2022: surplus £2,746). ## _Major risks_ The major risks to which the Foundation is exposed is as a result of its investments being subject to the fluctuations in the Stock Market as it has a significant portfolio of shares. The risk is mitigated by the appointment of a professional investment manager to manage the investments and by maintaining a broad range of investments at all times. ## **Structure, governance and management** The Foundation was founded by Mr EJH Towler on 16 December 1978 by a Deed of Trust, which was amended by a further Deed of Trust dated 24 August 1981. The settlor transferred £100 to the Foundation on 16 December 1978 and transferred additional property, together with Mrs MM Towler by Deed of Variation dated 22 December 1978. The Foundation is a registered charity and its registration number is 278033. The Trustees who served during the year and up to the date of signature of the financial statements were: Mrs J E Robinson Mrs M R Power - 1 - ## **THE JONATHAN TOWLER FOUNDATION** ## **TRUSTEES' REPORT (CONTINUED)** ## **FOR THE YEAR ENDED 5 APRIL 2023** ## _Recruitment and appointment of trustees_ The Foundation is administered and managed by the Trustees. The power to appoint new Trustees vests in the patron, or with existing Trustees in the office of Patron is vacant. The Trustees' report was approved by the Board of Trustees. Mrs J E Robinson Mrs M R Power **Trustee Trustee** 10 January 2024 - 2 - ## **THE JONATHAN TOWLER FOUNDATION** ## **INDEPENDENT EXAMINER'S REPORT** ## **TO THE TRUSTEES OF THE JONATHAN TOWLER FOUNDATION** I report to the Trustees on my examination of the financial statements of The Jonathan Towler Foundation (the Foundation) for the year ended 5 April 2023. ## **Responsibilities and basis of report** As the Trustees of the Foundation you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act). I report in respect of my examination of the Foundation’s financial statements carried out under section 145 of the 2011 Act. 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** 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: - 1 accounting records were not kept in respect of the Foundation as required by section 130 of the 2011 Act; or - 2 the financial statements do not accord with those records; or - 3 the financial statements 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 financial statements to be reached. Tim Lerwill, FCA Old Mill Accountancy Limited Unit 2 Greenways Business Park Bellinger Close CHIPPENHAM Wiltshire SN15 1BN England Dated: 12 January 2024 - 3 - ## **THE JONATHAN TOWLER FOUNDATION** ## **STATEMENT OF ASSETS AND LIABILITIES** ## **AS AT 5 APRIL 2023** |**Notes**
**Monetary assets**
Bank and Cash Balances
Bank current account
Credit card
Debtors
**Investment assets**
Managed investment porfolio - at market value
**2**
Other creditors
**Net assets**|**2023**
**£**
944
-
-|**£**
**944**
**-**
**2,085,197**
**(3,060)**
**2,083,081**|**2022**
**£**
2,323
(250)
1,729|**£**
2,073
1,729
2,492,092
(1,056)
2,494,838| |---|---|---|---|---| The financial statements were approved by the Trustees on 10 January 2024 Mrs J E Robinson Mrs M R Power **Trustee Trustee** - 4 - ## **THE JONATHAN TOWLER FOUNDATION** ## **RECEIPTS AND PAYMENTS ACCOUNT** ## **FOR THE YEAR ENDED 5 APRIL 2023** |**Notes**
**Receipts**
Income receipts
Income from investments
Other receipts
Receipts from managed investment portfolio
Receipt of debtor balanced owed
Total receipts
**Payments**
Expenditure payments
Charitable expenditure
**1**
Investment management charges
Bank charges
Accountancy and independent examination fees
Governance and secretarial expenses
Other expenditure
Other administration expenditure
Other payments
Reinvestment of investment income
Total payments
Net receipts / (payments) for the year
Cash and bank balances brought forward
Cash and bank balances carried forward|**5 April**
**2023**
**£**
59,011
57,000
1,550
45,038
22,188
139
3,255
6,280
5,000
216
36,823
(1,378)
2,323
**944**|59,011
58,550
117,561
82,116
36,823
118,939|**5 April**
**2022**
**£**
53,316
56,000
-
49,321
24,530
88
2,234
5,669
1,550
179
28,786
(3,041)
7,202
**2,323**|53,316
56,000| |---|---|---|---|---| |||||109,316| |||||83,571
28,786| |||||112,357| |||||| - 5 - ## **THE JONATHAN TOWLER FOUNDATION** ## **RECEIPTS AND PAYMENTS ACCOUNT** ## **FOR THE YEAR ENDED 5 APRIL 2023** |**1**|**Charitable expenditure**||| |---|---|---|---| ||Analysis of donations paid:|**2023**|**2022**| |||**£**|**£**| ||Air Ambulance|3,000|3,000| ||Bowl Cancer UK|100|-| ||Brackley Hogwatch|1,000|-| ||British Red Cross|250|-| ||Cancer Research UK|101|-| ||Chrons & Colitis|-|1,000| ||Compton Verney|-|400| ||Cure Parkinsons Trust|1,230|-| ||DEC Ukraine Humanitarian Appeal|6,551|5,000| ||Duchenne UK|-|261| ||EB Maggies Cancer Care - Royal Hospital Chelsea|1,200|2,750| ||Emma King - Just Giving|-|575| ||First Touch - St Georges Hospital|-|115| ||Game & Wildlife Conservation|-|100| ||Go Fund Me - Archie Hydro Pool|1,000|-| ||GOSH Great Ormond Street Hospital|-|10,538| ||Harry Van Straubenzee Memorial Fund|1,000|-| ||Hearing Dogs|1,000|-| ||Hope and Aid Direct|500|-| ||Iceni Ipswich Charity|2,000|-| ||Just Giving - James Place Charity|-|1,000| ||Just Giving - UK Sailing Academy|-|500| ||Katherine House Hospice|2,000|250| ||Lawrence Home Nursing team|200|3,500| ||Malberry Bush|-|1,000| ||Motor Neurone Disease Association|-|1,000| ||Muchloved - Saint Catherines Hospice Trust|-|200| ||National Coastwatch Institution|500|-| ||National Trust|-|1,730| ||Northampton Samaritans|-|1,000| ||Opera Della Luna|-|250| ||Parkinsons UK|-|1,000| ||Place2Be|250|-| ||Plymouth College Charity|250|-| ||Points South|-|400| ||Prostate Cancer Research|1,500|1,000| ||Queen Elizabeths Foundation QEF|-|500| ||Radley Foundation|1,000|-| ||RBG Jew|-|84| ||Refugee Council|-|500| ||RNIB|251|-| ||Royal Agricultural Benevolent Institution|3,000|3,000| ||Royal National Lifeboat Institution|250|250| ||Royal Opera House|1,200|1,200| ||Royal Trinity Hospital|500|-| ||Salvation Army|-|2,000| - 6 - ## **THE JONATHAN TOWLER FOUNDATION** ## **RECEIPTS AND PAYMENTS ACCOUNT** ## **FOR THE YEAR ENDED 5 APRIL 2023** ## **(Continued)** |**1**
**Charitable expenditure**
Save The Children - Afghanistan
Shipston Home Nursing
St James Church
St Johns Ambulance
St Lukes Nursing Home
St Marys Church Bloxham Special Appeals Account
St Peters and St Pauls Preston Capes
St Peters Church
Target Ovarian Cancer
Tate.Org.UK
The Magic Future Foundation
The Mulberry Bush Orgainisation
The Royal Academy of Art
The Sunshine Centre
Walking Wounded
Well Child
**2**
**Investments**
**Managed Investments portfolio - at market value**
Managed investment portfolio at 6 April 2022
Disposals and redemptions of investments
Purchases of investments
Investment income reinvested
Payments to cash funds
Unreaslised gains/(losses) on investments
Management charges
Managed investment portfolio at 5 April 2023|**(C**
-
3,000
2,000
-
2,000
-
500
4,500
1,000
-
-
-
205
2,000
-
-
45,038
**2023**
**£**
2,492,092
(330,423)
363,379
59,011
(57,000)
(419,674)
(22,188)
2,085,197|**ontinued)**
1,000
-
-
300
-
1,000
-
500
-
126
250
1,000
-
-
950
92
49,321
**2022**
**£**
2,376,250
(360,608)
285,016
53,316
(56,000)
218,648
(24,530)
2,492,092| |---|---|---| ## **3 Trustees and related party transactions** None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Foundation during the year (2022: £nil). No Trustee received reimbursement of expenses during the year (2022: £nil). There were no disclosable related party transactions during the year (2022 - none). - 7 -