Charity number: 286547
JOAN AINSLIE CHARITABLE TRUST
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024
Sa
ers Butterworth LLP

JOAN AINSLIE CHARITABLE TRUST
Contents
Page
Reference and admlnlstrative details of the Charty, its Trustee5 and advisers
Truste¢$' report
Independent audltorfs report on the finan¢lal statsmants
Statement of financial aetlvlt•es
Balance $hg8t
10
Notes to the flnanclal statements
11-23

JOAN AINSLIE CHARITABLE TRUST
Reference and administrative details of the Charity, its Trustees and advlsers
For th¢ Year Ended 5 Aprfl 2024
Trustees
Anthony Gerard Mahoney, Trustee
Susan Mary Simmons. Trustee
Paul Eldon Ffitch. Trustee
Fiona Ainslie-Brown, Twstee {deceas8d 10 May 20231
Charty Tegist•r8d number
286547
Principal office
Sayers Butterworth LLP, 3rd Floor, 12 Gough Square. London, EC4A 3DW
Indepondent auditor
James Mathieson FCA, Lindeyer Francis Forguson Limitsd, North House, 198 High Street. Tonbtidge, Kent,
TN9 18E
Bankgrs
Barcla￿ Bank Pl¢. 1 Churchill Place, London, E14 5HP
Invgstment advisors
Canaccord Genuity Wealth Management, 41 Lothbury. London, EC2R 7AE
8ar¢lays Woalth, 1 Churchlll Place, London. E14 5HP
A￿￿thnol Latham. Arbuthnot Hou$0, 7 Wilson Street, London, EC2M 2SN
Accountants
Sayers Butierwoth LLP, 3rd Floor, 12 Gough Square. London, EC4A 3DW
Proprty advisors
Morley Riches & Ablewhite. 4 Newaomen Way. Colchester, C04 9RA
Wishtower, 23 Marshall Road, Eastboume, East Sussex, BN22 9AD
Page 1

JOAN AINSLIE CHARITABLE TRUST
Trustees. report
For the Year Ended 5 Aprll 2024
The Trustees present their annual report together with the audited financial statements of the Charity for the year
6 April 2023 10 S April 2024. The financial statements have been prepared in accordance with the accounting
policles set out In the notss to the accounts and comply tho Chariws Trust Deed, The Chadlies Act 2011
and the requirements of the "Ststement of Recommended Pra¢lirR° applicable to charities preparing their
8c¢ounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS
102).
Objectlves and acttvities
. Objectlves and actlvlti
The FLtnds of the Trust are lo be applied for or towards such charitable purposes at such time or times and in
such manner as the Trustees shall in their absolute discretion think fil. The objectives are fulfilled by the
Trustees making grants or donations. Followng the legacies r￿1Ved Ihe Trustees are actively looking to
commit funds to small charities in need of financial support. Funds held pending disbursemgnt may bg invested
in securitie5 of whatsoever nature as the Trustees Ihink fit.
The Trustegs fvifil Ihg purpose of the charty by maknng donations during the year to Idenlfled organisationg
carrying out charitable activtties, for the purpose of wider public benefit
The Trustees are actively looking for suitable charities to fomi ongoing relationships wtih and consider all
requests for funds. Dec2sions as to the quantum of donations are made once we understand the financial needs
of the donee charity.
The maln actlvltles un(lertaken to further the charitrfs purpose consist of donafing to other charftles and
charitsble organisalions. The Trustees are empowered lo pay any part of the ca￿tal and Income for the benefft
of such charitable purposes es Ihe Trustees in their distxelion delenine.
There are no employees working for the Joan Alnslie Charrtable Trust al present. The day to day management of
the incoming resources of the Charity is undertaken by the appointed Proprietsry Estate Agents and Investment
Advisors listed on page 1 of these accounts. The Trustees manage the overall operatlonal advlttes of the charity
and decisions of a day to day natu￿. Charitable donation decisions and strategic decisions are taken by the
Trustees at Trustees board meetings.
In setting objectives and planning for activities. the Trustees hav8 given due consideration lo general guidance
published by thè Charity Commission relating to public benefrt, including the yuidance 'Public benefrt- runr>ing
charity IP821'.
Achlevem¢nts and perforn)ance
a. Main achievements of tho Charity
The Joan Anslle Charttsble Trust has Suc￿sfUllY donated lo 62 charitable organisations during the year to 5
April 2024 {2023: 541 and granted total funds of £262,500 {2023: £233,800). The value of donations ranged from
£500 - £10,00012023.' £1.000 - £10.0001. The Trustees intsnd that all donations should make a material impact
to the activtlies of each donee.
Page 2

JOAN AINSLIE CHARITABLE TRUST
Trusteès. report Icontinuedl
For the Year End•d 5 April 2024
Achievemènts and pgrformance Icontinu¢dl
b. Plans for future periods
The Trustees plan to discuss further the key objectives and activities for the future considering the signfficant
investment funds held by the charity. At present the Trustees principally wsh to continue lo maintain. and if
possible increase the annual in¢om8 levels and support the widest ran9e of charitable activity ¢x>nsistent with the
charitys objectives.
A material share of the investment funds is in non-liquid assets. This diverslfi¢atlon ¢urr8nUy accords with The
Trustee Investment Policy. At the appropriate time this value may be realised towards future distributions.
Financlal rwl•w
a. Flnancial review
Investment income reoived during the year totalled £282,062 compared with £267,125 in the previous year.
Expenditure totslled £392,425 during year {2023'. £365.594}. of which charitable donations totalling £262,500
12023= £233,8001 were mado by the Trust.
There are no restrictions in the Trust Deed. The Trustees operate a medium to high risk investment policy with
balance of income and capital growth. The investments are currendy held in a mixture of sto¢k market
investments and cash deposits and rental propety. There were unrealised I realised gains of £535,13012023:
losses of £577,732) on slod( marf(et investrnents during the year.
The surplus for the year totall8d £554.76712023'. deficit of £604,701). The balancÉ of the unreslricled fund at 5
April 2024 was a surplus of £10,00012023'. surplus of £10,000). The balance of the expendable endowment ftjnd
at the year end was £8.337,89612023.. £7,783.1291.
During the year. there was a transfer of funds from the expendable endowment fund of £19,163 to the
unfestricted fund. This was dua to a shortfall of income over expenditure.
b. Going concern
After makino appnjpriate enquiries, the Trustees have a reasonablg expectstion that the Charity has adequate
resources to ￿ntinu& in operational existence for the foreseeable future. For this reason, they continue to adopt
the going concern basis in prepallng the financlal ststemenls. Further details regarding the adopfjon of the going
concem basis be fryjnd in the accounting policies.
¢. R•serve pollcy
Clause 3 of the Trust Deed gtves the power to apply the Trust Fund and the income thereof for such charitable
purposes as the Trustees may in their absolute discretion determine. kcordingly il Is possible to maintain
reserves at a minimal level. Future resery&s wlll be set at such a level lo enable available funds to meet any
ftjture financial commttmenl5.
Reserves held al the year end were £8.347,89612023'. £7,793,129). The Trustees intend to set aside £300,000
from the reserves for spending over the forthwming year. The Trustees deslred level of r&seTves at the present
time is betsveen £7m and £7.5m and their intention is to increase the annual income. The￿ are no current plans
by the Trusteos lo spend the resetves of the charity although the Trustees will consider larger donations from the
capitsl of tho charity on a case by ca88 basis.
Page 3

JOAN AINSLIE CHARITABLE TRUST
Trustees. report Icontlnued)
For the Year Ended 5 Aprll 2024
Structure* governance and mana9ement
a. Constitution
Joan Ainslie Charftable Trust Is a regIsle￿d cha*ity. number 286547. and is constituted under a Tnjst deed
datsd 11 October 1982.
b. Methods of appointment or election of Trustees
The power of appointsnent for new or additional Tru*ees rested the Setuor during her lifetime and thereafter
now lies with the ongoing Trustees.
There are no fomial polici&s in plark for the induction or training of new Trustees. New TnJstee$ are briefed by
the board of existing Trustees. Please see page 1 forthe delalls of the reglstered office of the Cha￿ty.
Statement of Trustees, responsibllltles
The Trustees are responsible for preparing the Tnjstees. report and the financial st*ements in accordance wth
applicable law and Unlted Kingdom Accounting Stsndards (United Kingdom Generally Accepted Accounting
Fracts.￿l.
The law applicable to charities in England & Wales requires the Trustees to prepare flnancial statements for
each financial which give a true and fair vi8w of the stale of affairs of Ihe Charity and of its incoming resources
and application of resources, including ils incom9 and expenditure, for that pertod. In preparing these financial
statements. the Trustees 8re required to:
select suitable accounting policies and then apply them Con￿$tentIY,-
obseNe the methods and prinCip￿S of the Charities SORP IFRS 1021.
make judgments and accounting estimates that are reasonable and prudent-
slate whelheT applicable UK Accounting Standards IFRS 1021 have bgon followed, subject to ary material
departures disclosed and ex￿ained in the financial statements.,
prepar8 the finanryal statements on the going conoem basis unless il is inappropriate to presurne that the
Charity will cLJnlinue in bu5ines5.
The Trustees are responsible for keeping adequate accounting recL)rds that are 5ufficlent to show and explain
the Charity's transactions and disclose with rèasonable accuracy at any tims th8 financi81 position of the Charty
and enable them to ensure that the financial statements comply with the Charities Act 2011. the Charity
(Accounts and Report5) ReguSations 2008 and the provlsions of the Trust deed. They are also responsible for
safeguarding the assets ofthe Charity and hence for taking reasonable steps for the prevention and detection of
fraud and other irregulartties.
Approved by order of th8 member5 of the board of Trustees on 30 January 2025 ar¢d signed on their behalf by..
Paul Eldon Ffitch
Trustee
l*iliucC
Page 4

JOAN AINSLIE CHARITABLE TRUST
Indep•ndent auditofs report to the Members of Joan Ainslie Charitable Trust
Oplnlon
We have audited th8 financial statements of Joan ￿nsIle Charitable Trust Ithe 'chariV} for the year ended S April
2024 which comprisg the Statement of financial activities, the Balance sheet and the related notes, including a
summary of significant accounting policies. The financial reporting framework that has been applied in their
preparation is applicable law and United Kingdorn Accounting Standards, including Financial Reporting Standard
102 'The Financial Reporting Stsndard applicable in the UK and Republi¢ of Ireland, (Untted Kingdom Generally
A￿pted Accounting Practice).
In our opinion the financial 5tstements'.
give a true and fair view of the state of the tharitys affairs as at 5 April 2024 and of its incoming resources
and application of resources for tho year then ended-
have been propet1y prepared in accordan￿ with United Kingdom Generally Accepted A¢¢ounting
Practr'ce,. and
have been prepared in accordan￿ with the requirements of the Charities Act 2011.
Bas16 for oplnlon
We conducted our audit in accordance with IntemationaS Standards on Auditing {UK} IISAS IUKII and applicable
law. Our responsibilities undor those stsndards are further described in the Auditorfs responsibilities for the audit
of tha finan¢ial slatements section of our report. W¢ •r¢ ind¢p¢nd¢nt of th¢ Gharity in aG¢ordan¢¢ wth th¢ ¢thiG81
requirements that are relevant to our audit of the financial statements in the United Kingdom. induding the
Finanaal Reporting Council's Ethical Standard, and we havo fulfilled our other ￿h1¢81 responsibilities in
accordance with these requirements. We believe that the audit eviden￿ we have obtsined is sufficient and
appropriate to provide a basis for our opinion.
Coneluslons relating to going concgm
In auditing the finandal ststements. we have concluded that the Trustees, use of the going concem basis of
a￿O￿nting in the preparation of thfr finanaal ststements is appropriate.
Based on the woth we have performed, we have not identified any material uncertainties relating to events or
conditions that, individually or collectively. may cast significant doubt on the charitys ability to continue as a going
cort¢8m for a period of at least tW91vg rr￿nthS from when the financial staiements are authorised for Issue.
Our responsibilities and the responsibilities of the Trustees wth respect to going concem are described in the
relevant sections of this ￿pOrt.
Page S

JOAN AINSLIE CHARITABLE TRUST
Independent auditorfs report to the Members of Joan Alnslie Charttable TTUSt {continuedl
other infom￿tIOn
The other infoThation comprises the information included in the Annual report other than the fflnanclal ststements
and OLtr Auditorfs report thereon. The Truste88 are responsible for the other information contained within the
Annual r8porL Our opinion on the financtal statements does not cover the other infomation and, except to the
extent otherwise explitiuy slated in our report. we do not express any fomi of assurance conclusion thereon. Our
responsibility is lo read the other information and. in doing so, consider whether the other infgrmation is
materially in¢onsistsnt with the financlal ststements or our knowledge obtained In the course of the audlt. or
otheNise appears to be materially misstated. If we identity such moterial inconsistencies or apparent material
misstatements, we are required to detemiine whether this gives rise to a material misstaternent in the financial
statements themselves. If. based on the work we have performed, we conclude that there is a material
misstatement of this other infomation, we are required to report that facL
We have nothing to report in this regard.
Matters on which we are requSred to report by exception
We have nolhing to report in ￿speCt of the following matters where the Charfties IAce4)unts and Reports)
Regulations 2008 requires us to ￿port lo you if. in our opinion:
the information given in the Trustees, ￿port is inconsistent In any material respect with the financial
statements.. or
sufficient accounting records have not been kept" or
the finan¢ial slalements are not in agreement wth the accounting records and ¥etums' or
we have not received all the information and eX￿anationS we require for our audtL
R¢spon$5bllTtle$ of tru$tees
As exF4ained more fully in the Trustees, responsibllilies slalemenc the Trustees are responsible for the
preparation of the financial statements which give a true and fair wew, and for suGh internal control as the
Trustees determine is necessary to enable the preparation of financial statements that are free from matsrlal
misststement. whether due lo fraud or e￿or.
In preparing the financial 8tatemen18, the Trustees are responsible for assessing the charitys abilty to continue
as a going concern, disdoslng, as applicable, matters related lo going concern and using the going concem
basis of accounting unless the Trustees either intend to liquidat6 tho charity or to cease operations, or havg no
realistic altematlve bul to do so.
Page 6

JOAN AINSLIE CHARITABLE TRUST
Independent auditorfs rnport to th• Membors of Joan Ainslie Charitable Trust Icontinuedl
Audltorfs r•sponslbllltles for th¢ audlt of the flnanGl•l statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance wth
the Act and relevant regulalions made or having effect thereunder.
Our objectives are to obtain ￿asonable assurance about whether the financkil statements as a whde are frge
from material misstatement. whether due to fraud or error, and to issue an Auditor's report that includes our
opinion. Reasonable assurance is a high level of assurance. but is not a guarantge that an audit conducted in
accordance with ISAS IUKI will always detect a material rnisststement when it exists. Misstatements can arise
from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be
expected to Influence the economi¢ de¢isions of users tsken on the basss of these financlal ststements.
Irregularities, including frydud, are instances of non-compliance wth laws and regulations. We design procedures
in line with our responsibilities. outlined above, to delect rnalerial misststements in respect of irregularities,
induding fraud. The extent to which our procedures are capable of det￿Ing irregularitS8s, induding fraud is
detsiled below:
We obtsined an understanding of the legal and regulatory framework applicable to the prepafation of the
financial stslements of the charity, and the procedures that management adopt to ensure eompliance. We have
considered the extent to which non4ompliance might have a material effect on the financial statements, and in
parbcular we identified.. Charities SORP IFRS1021 and the Charities Act 2011.
We have also identified other laws and regulations that do not have a direct effect on the amounts or disclosures
within the financial statements, but for which compliance is fundamental to the chariW8 operations and to avoid
material penalties. induding GDPR, data protection fegulalions and propgrty rental regulations.
Hamng reviewed the laws and regulations applicable to the charity. we designed and performed audtt procedures
to obtsin sufficient appropriate audit evidence. Speaflcally. we..
Selected a team wlth sector experience to perfom the audit,.
Obtained an understsnding of the charity's proeedures for ensuring compllance with laws and regulations-,
Obtained and reviewed internal policy and procedure documents-
Made enquiries of management and the trustees regarding whether they were aware of any actual or
suspected incldences of non-compliance with laws ané regulations.,
Reviewed legal expense5 accounts for indications of any possible non-complian(￿.. and
Reviewed the completeness and accuracy of any disclosures made in the financial staternents.
We assessed the susceptibility of the chariws financial statements to malerlal misslalement, induding
considering how fraud might o¢cur. This w8S Pgrforrned by..
Making an assessment of the charity's control environment. systems and controls including identty'ng any
weaknesses and considering the risk of management override of controls.,
Considering whether there are any incentives or opportunities for management to manipul*e financial
results.,
Obtaining and evaluating the trustees, assessment of the risk of fraud, and enquiring as to whether they are
aware of any actual oi suspected incidences of fraud.,
Reviewing the accounting policies and accounting estimates for signs of management bias.. and
Identifyng key risks reLating to irregularities a8 rel8ting lo revenue re¢xyJnition induding fraud. man8gement
override of controls and the valuation of investment properties.
Page 7

JOAN AINSLIE CHARITABLE TRUST
Independent auditorfs report to the Members of Joan Ainslie Charitsble Trust {continuedl
We then designed audTt proGedures in response lo the risks identified, including perfom)ing substantive testing
on all material income streams, reviewing journal entries and accounting estimates, and reviewing an expert
valuation of tha investment properlies.
The audit has been planned and perfomied in in accordance wilh au¢Jtting standards, however, because of the
inherent limitstiDns of audit prO￿d￿reS there remains a risk that we will not detect all irregularities, induding
those that may lead to material misstatements in the finandal statements. There are inherent difficulties in
detecting irregularities, and irregularities that result from fraud may be more difficult to detect than irregularities
that result from error, for example due to concealment, override of controls, collusion or misrepresentations. In
addltlon, the further removed non-complian¢e with laws and regulations is from the events and transactions
reflected in the financial stalemenls, the less audit procedures are able to identtty
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Councll's website at: www.frc.o
.ukJaudilorsres
es. This descriptlon fomis part of otjr
Audttorfs report.
Use of our report
Thls re￿rt is made solely to the charitys t￿Stees, as a body. in 8tcordance with Part 4 of the Charities
IAGcounls and Reports) Regulations 2008. Our audK( work has been undertaken so that we might state to the
¢haritys trustees those matters we are requirecl to state to them in an Auditor's ￿port and for no other purpose.
To the fullest extent pem)itted by law, we do not accept or assume responsibslity to anyone other than the charity
and its trustees, as a body, for our audit work. for thSs r8POrt, or for the opinions we have fomed.
L,(
ITOJ)ci s (Lc
James Mathieson FCA
LindeyBr Francis Ferguson Limited
North House
198 High Street
Tonbridgt
Kent
TN9 1BE
30 January 2025
Llndeyer FrancSs Ferguson Limited are eligible to aot 85 auditors in tsrms of section 1212 of the Companies Act
2006.
Page 8

JOAN AINSLIE CHARITABLE TRUST
statement of flnan¢lal actlvltlgs
For the Year Ended S Aprll 2024
Exp9ndable
Endowment Unr8strided
funds
funds
2024
2024
Total
funds
2024
Total
fvnds
2023
Note
Income and endowments from".
Investments
282.062
282.062
267,125
Total income and endowmerrts
282.062
282,062
287, 125
Expenditure on:
Raising funds..
Investsnent management
Charitable aclivilies..
Grants to institutions
Goveman¢e
75,442
19,990
94432
100,955
285.477
15.758
264477
31.516
236.373
28,266
15,758
Totsl expenditure
91.200
301.225
392.42S
365,594
Net expenditure before net
gainsl{los$esl on investments
Net gainslllossesl on investments
191.200)
665,130
119.163}
1110,3631
865.130
{98,469)
(506.232)
Net incomel{expenditurnl
Transfefs between funds
573.930
(19.163)
{19.163)
19.163
554.767
(604. TOI)
14
Net movemont In funds
554.767
554.767
(604. 701)
Reconclllatlon of funds:
Total funds brought forward
Net movement in funds
7,783.129
554.767
10,000
7.793.129
554,767
8,397.830
(604.701)
Total fund$ carrled forward
8.337.896
10,000
8,347,896
7,793,t29
The Statement of financial activlties includes all gains and losses recognised in th& year.
The notes on pages 11 to 23 form part of these financial statoments.
Page 9

JOAN AINSLIE CHARITABLE TRUST
Balance sheet
A5 at 5 April 2024
2024
2023
Fix¢d assets
Investments
Investment property
10
6,368,642
1,880,000
5,854,582
1,750,000
8.246,642
7.604.582
Currnnt assgts
Oeblors
Cash at bank and In hand
11
36.226
145.341
658
255,519
181,567
256,177
Creditors: amounts falling due within one
year
12
180,3131
(67,630J
NEt Gurrent a558tS
101,254
188,547
Totsl a8sets les8 current Ilab¥lities
8.347,896
7,793. 129
Total net a$$ets
8,347,896
7,793, 129
Charity fund$
Endowment funds
Unrestricted hjnds
14
14
,337,896
10.000
7,783, 129
10,000
Total funds
8.347.896
7.793. 129
Th8 finanual statements were approved and authorised for Issue by the Trustees on 30 January 2025 and
signed on their behalf by..
/,,li<
Paul Eldon Ffltch
Trustee
The notes on pages 11 to 23 fomi part of these financial slaternents.
Pagg 10

JOAN AINSLIE CHARITABLE TRUST
Notes to the flnancial $tstemgnts
For the Year Ended 5 April 2024
General infomation
Joan Atndie Charitsble Trust is 8 registered charity. charity number 286547. Its prinripal office address is
3rd Fl¢x)r, 12 Gough Square. London. EC4A 3DW.
A¢¢ounting policies
2.1 Basis of preparatlon of financSal statsments
The financial slalements have been prepa￿d in a¢cordanc8 with 'Accounling and Reporbng by
Charities.. Ststement of Recommended Practice applicable to charities preparing their accounts in
accordance with the Financial Reporting Standard appli¢able in the UK and Republic of Ireland IFRS
1021 Isecond Edilion}', and the Financial Reporhng Stsndard applicable in the UK and Republic of
Ireland IFRS 1021 and the Charlties Act 2011.
The financial statements have been prepared to give a Irue and fairf view and have departed from
the Charities (Accounts and RetK)rtsl Regulations 2008 only to the extent required lo provide a 'true
and fail view. This departure has involved following 'Accounting and Report+ng by Chariti8S:
Statement of Recommended Practice applicable to charities preparing their accounts in accordance
with the Firsancial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 102)
(Second Edition), rdther than the Accounting and Reporting by Charities.. Statement of
Recommended Practice effective from 1 April 2005 whith has sin¢e ba8n wthdrawn.
Joan Ainslie Charitable Trust meets the definition of a public benefit entity under FRS 102. Assets
and liabilities are initially recognised at historical cost or ￿nSaCtiOn value unless otherwise Ststed in
the relevant accounting policy.
The finanual statements are presented in pound sterting and rounded to the nearest pound.
2.2 Going ¢oncern
After making the necessary enquiries, the trustees have a reasonable expectation that the Charity
has adequate reserves to continue in existence for the foreseeable future and there are no material
uncertainties regardin9 going concern. On this basis the Charity eontinues to adopt the going concem
basis in preparing its financial stat&m8nts.
2.3 Incom•
All income Ss recognised onc8 the Chadty has entitlement to the income, it is probable that the
income will be received and the amount of incorne receivable can be measured reliably.
Income tsx recoverable in relation to investment incom8 18 recognised at the time the investment
income is receivable.
Page11

JOAN AINSLIE CHARITABLE TRUST
Notes to the financial statements
For the Year Ended 5 Aprll 2024
Accounting policles (Gontlnued)
2A Expendlture
Expènditure is recognised once Ihere is a legal Dr constructive oblKJation to transfer economic benefft
to a third paty. it is probable that a transfer of economic benefits wll be required in settlement and
the amount of the obligation can be measured reliably. ExpenditutE is classified by activity- The costs
of each activity are made up of the total of dir¢¢t Costs and shared costs, including support costs
involved in undertaking each 2CtiMty. Direct costs attributable to a 51ngle activity are 811ocated direcuy
to that activity. Shared costs whSch contribute to more than one actiwty and support costs which are
not attributable lo a single activity are apportioned betr￿een those 8¢tivities on a basis consistent with
the use of resources. Central staff costs ère allocated on the basis of time spent and deprec18tion
charyès allocated on the Portion of the assevs use.
Expenditure on raising funds indudes all expenditure incurred by the Charity to raise funds for its
charitable purposes and includes costs of all fundralsing aCtivi￿e8 events and non-ch8ritable trading.
Expenditure on charitable acttvities 15 incurred on directly undertaking the activities which fvrther the
Charitys objecttves, as well as any aswciated support costs.
Grants pay8bl6 ar8 ch8rged In the year when the offer is made except in those Cases where the offer
15 conditional. such grants being recognised as expenditure when the condTtsons attaching a
fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a
commitment. bul not accrued as expenditure.
All expendityre is IndusSve of irrecoverable VAT.
2.5 Interest recelvable
Interest on funds held on doposÈt is included bvhen receivable and the amount can b8 measured
reliably by the Charity. this is normally upon notifiGation of the Interest paid or payable by the
instrtution with whom the funds are deposited.
2.8 Inv•stm•nts
Fixed asset investments are a form of financial instrument and are initially recognised at th8lr
transaction cost and subsequently measufftd al fair value at the Balance sheet date. unless the value
annot bg measured reliably in whith Gase 11 is measured at cost less Smp8imenl. Investment gains
and losses, whether ￿alISed or unrealised. are combined and presented as 'Gain51lLosses) on
investments. in the Ststement of financial activrfies.
2.7 D•blors
Trade and other debtors are r8cognised al the settlement amount after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade dis(x)unts due.
2.8 Cash at bank and in hand
Cash al bank and in hand includes cash and short-temi highly liquld investments with a short maturity
of three months or les5 from the dale of acquisition or opening of the deposit or sSmllar account.
Page 12

JOAN AINSLIE CHARITABLE TRUST
Notes to the financial stat•ments
For the Year Ended 5 Aprll 2024
A¢¢ounting policios l¢ontinuedl
2.9 Liabilities and provisions
Liabilities are rec￿nISed when IheTe is an obligation at the Balance sheet dale as a wult of a past
event, it 15 probable that a transfer of economic benefit will be required in settlement, and the amount
of th8 setuemenl can be estimated reliably.
Liabilities are recognised al the amount that the Charity anlicipales 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 lime value of money is material, the provision is based on the present value of those
amounts. discL)unted al the pre-tax discount rate that reflects the risks 5peufic to the liability. The
Ltnwinding of the dI￿unt is recognised in the Statement of financial activities as a finance cost.
2.10 Financlal in8trurnents
The Charity only has financial assets and financial liabilities of a kind that qualify as basic finanoal
instruments. 8asic financial instruments are initially recognised at transaction value and subsequenuy
measured at their settlement value wlh the exception of bank loans ￿1¢h are subsequenuy
measured at amortised cost using the effective interest method.
2.11 Fund accounting
General funds are unrestn.ctsd funds which are available for use al the discretion of the Trustees in
furtherance of the general objectives of the Charity and which have not been designated for other
purp¢)ses.
The expendable endowment fund represents those assets which have been Introduced to the Charity
by the Settlor. Under dauses 3{bl and 3{c) of the Trust Deed the whole of this fund may be applied
for one or more Charity or Charities or for such charitable purposès as the Trustees may decide. The
Costs of administering such funds are charged against the specific fund. The expendable endowment
fund is unrestricted.
Investment income. gains and losses are all¢xated to the appropriate ￿nd.
Page 13

JOAN AINSLIE CHARITABLE TRUST
Notes to the financial statements
For the Year Endgd 5 Aprll 2024
Crltlcal a¢¢ountlng estlmatss and areas of judgment
Estimates and judgments are continually evaluated 8nd are based on historical experience and other
factors, including expectations of future events that are believed to be r9asonable under the
¢ir¢umstsnces.
The key source of eslimalion uncertainty at the balan￿ sheet date relates to the property valuations. The
Trustees have reviewed the property valuatlons at the year end and made an estimate as to their fair
value wlth referen￿ to premous full valvations and current infomial discussions with industy
professionals obtained about the propety market sector performance geneTrlly.
Critical accountlng estimates and assumptions..
The Charty makes estimates and assumpts'ons concemiNJ the future. The resutting accounting estimates
and assumptlons wll, by definition, seldom equal the related actual re5uIts. The estimates and
assumptions th8t have a significant risk of causing a rnaterial adjustnient to the carrwng amounts of
assets and liabllities within the next fnancial year are discussed below.
Investment Income
Unrestricted
funds
2024
Total
funds
2024
Income from UK investment properties
Income frorn UK listed investments
Income from non-UK listed investments
Bank Interest receIva￿e
148,818
123,870
3,918
5,456
148.818
123.870
3.918
Total 2024
262.062
282.062
Unre$liFGled
fvnds
2023
Total
funds
2023
Income from UK investment propert18S
Income from UK listed investments
Income from non-UK listed investments
Bank interest receivable
145,206
117,375
3,402
1, 142
145.206
117.375
3,402
1,142
Tot812023
267, 125
267,125
Page 14

JOAN AINSUE CHARITABLE TRUST
Notes to the financial statements
For th• Yèar Endèd S April 2024
Inve$lm•nt management costs
Expendablè
Endowment Unrestricted
funds
funds
2024
2024
T¢)tal
funds
2024
Investment management charges
Maintairsing value of property asset
Propety expenses..
Agent's management charges
Legal & professional
Repairs & maintenance
Rates
48,456
48.456
16,977
16,977
9,615
9,007
324
9,615
9.007
1,186
893
934
1.186
8.933
934
Managing investments ond investsnent propety
Insurance written off
8,040
Toto12024
75.442
19.990
95.432
Expendable
Endowment UnTrstricted
funds
funds
2023
2023
Total
funds
2023
Investment management charges
Property expenses..
Agenfs management charges
Legal & professlon81
Repairs & maintenance
Rates
Difference on foreign exchange
Managing invostmgnts and investment propety
Insurance written off
Rental income bad debts
48,054
48.054
11,435
9,343
11.435
9.343
I. t03
538
(212)
12,602
9,632
8.460
1, 103
538
(212)
11,342
1,260
9,632
8.460
Total 2023
79.962
20,993
fOO,955
Page15

JOAN AINSLIE CHARITABLE TRUST
Notss to the flnanclal statements
For the Year Ended 5 April 2024
Analysis of grants
The Charty has made the following grants to institutions during the year.
2024
2023
3H
Abbeyfield (Chichester) Society
Arthritls Action
Avenues
Bamardo's
Brains Matter
The Byigette Trust
Cancer Tnjst
5,000
5.000
s,000
10,000
5,000
5,000
2,000
2,500
5,000
5.000
3.000
2,000
5,000
5,000
5.000
5.000
10,000
5,000
2,000
Choices
Compaid
CornmunTty Support Laundry of Llphcok
Conquest Art CIO
Dandelion rim8
Diabetes UK
Dogs for Good
Douglas 8ader Foundation
Ealing Church Shelt8r
Food for Life
5,000
3,000
2.000
5.000
3,3(10
5,000
5.000
5.000
1.000
3,000
2,500
5.000
5,000
5.000
3,000
3.000
2,500
5,OOU
5,000
3,000
5,000
5,000
5,000
5.000
5,000
5.000
5,000
s,000
2.000
2.000
5,000
5,000
500
3.000
GroombrSdg8 Mens Shed
amble Life Boat
Hampshire & Isle of Wlght Ar Ambulance
Happy Days Children's Charty
Haslemere Educational Museum
Hi Kent
Home Start
Homeless Care
HurTHn Value Foundation
Kent Association for the Blind
Lavant Church Communlty Centr8
Livabilsty
Luna Childr￿'S CharitS9S
Maidstone Swmming Club for the Disabled
Mid-Sus$ex Older People's Council
Mobillty Trust
Moming Star
Much Loved in Memory
National Anlmal Wolf8r8 Trust
5,000
5,000
5,000
5.000
5.000
2,000
5.000
5,000
Page 16

JOAN ANSLIE CHARITABLE TRUST
Notes to the flnanclal statsments
For the Year Ended S April 2024
National Axial SpOnd￿oarthr1ti$ Society
NSernann Pick Disease
The People's DSspensary for Sick Animals
Petsls
Phoenix Edu¢ation Trust
Riding for the Disabled
Royal British Legion
Samaritans Tunbridge Wells
Sanctus
School of Hard Knocks
Seed Eating Disorder
Slblings Together
Spitz
Student Minds
St Paul's Churth & Parish Centre Chichestsr
The West Sussex Countyside Studles Trust
The Hunter Centr8
The Sara Lee Trust
The Whitsfield Charity
The Young Lives Foundation
Their Voice
Tylers Twst
Up n Away
Vision for Matawi
You Raise Me Up
5.000
5.000
3.000
3,000
5,000
500
5,000
3,000
5,000
5,000
5.000
3.000
3.000
5.000
2.000
3.000
5.000
3,000
3,000
5.000
5.000
3,000
5,000
5,000
3,000
3.000
5.000
2.000
3,000
3.000
3.000
3,000
7,500
5.000
3,000
5,000
5.000
15,000
5,000
5.000
3,000
5,000
5.000
10.000
262.500
233,800
Support costs
Admlnlstrafjon of granls
2,977
2.573
265.477
236,373
Audltor's romunerntlon
2024
2023
Fees payable to Ihe Charty's audltor for the audlt of the Charws annual
accounts
7,800
7,284
Page 17

JOAN AINSLIE CHARITABLE TRUST
Notes to the flnancial ststements
For the Year Ended 5 Aprll 2024
Trustees. remuneration and exp8ns•$
Durfng the year ended 5 April 2024 no Trustees recelved any remuneration or other benefits12023-.£NIL}.
During the year ended 5 April 2024, no Trustee expenses have been incurred (2023- £NIL).
Investment property
Freghold
inv•$tment
proporty
Valuation
At 6 April 2023
Gain on r6valualion
1,750,000
130,000
At 5 April 2024
1,880.000
The freehold invgstment property was valued by the Trustees as at 5 April 2024 on an open market basis.
10. Flxed asset Investmènts
Listed
Investments
Cost or valuatlon
At 6 Aprll 2023
Additions
DIspos8ls
Revaluallons
5.854.581
1,140,472
(1.150.032)
521.621
Al 5 April 2024
6J66,642
The disp05als resulted in realised gains of £13,509.
Page 18

JOAN AtNSLIE CHARITABLE TRUST
Notes to Ihe financial statements
For tha Year Ended 5 April 2024
11. Debtors
2024
2023
Due within one year
other debtors
36.226
658
36.226
658
12. Creditors: Amounts falling due within one year
2024
2023
Other creditors
Accruals and deferred Income
Grants accrued
28,334
48,979
3.000
67.630
80,313
67.630
2024
2023
Deferred income broughl fornard
Re50ur¢es deferred during the year
Amounts released from previou$ pori¢)ds
35.004
12.383
(35.0041
19,787
35,004
(19, 787)
12,383
35,004
Defe￿ed inGome relates to rent from investrnent properties invoiGed in advance.
13. Finan¢ial InstNments
2024
2023
Financial assets
Financial assets measured at fair value through income and expendittjre
6,36Q642
5,854.584
Financial assets measured at fair value through income and expendlture comprise listed and unlisted
investments.
Page19

JOAN AINSLIE CHARITABLE TRUST
Notes to the flnancial statements
For the Year Ended 5 Aprll 2024
1& Statement of funds
statomgnt of funds- curr•nt yaar
Balance at 6
ril 2023
Transfers
Inlout
Gainsl Balancg at S
(Losses) April 2024
Income Expenditure
Unrestrlcted
funds
General Funds-
all funds
10,000
282.062
(301,225)
19,163
10,000
Endowment
funds
Endowrnent
Funds- 811 funds
7,783,129
(91.2001
119,1631
665,130
8.337,896
Total of funds
7.793,129
282.062
1392.4251
665.130
8.347.896
The transfer of funds from the expendable endowment fund of £19.163 to the unrestricted fund was due
to a shortfall of income over expenditure.
ststgmgnt of funds . prior year
Balance al
6Apn'l 2022
TTrnsfers
in/oul
Gainsl
Balancs al
(Losses) 5Apnl 2023
Income Expenditu
Unrestrlcted
fund¥
General Funds
f8.336)
267. 125
(271,499)
22,710
lo,t￿o
Endowment
funds
Expendable
Endowment
Funds
8,406, 166
f94.095J
{22,710)
(5Q6,232)
7.783. 129
Total of funds
8.397,830
267. 125
(365.594)
(506.232)
7,793, 129
Page 20

JOAN AINSLIE CHARITABLE TRUST
Notss to the financlal statements
For the Year Ended S April 2024
15. Analysis of net assets betwegn funds
Analy$ls of net assets between funds- eurrent porlod
Expendable
Endowment Unrgstri¢ted
funds
funds
2024
2024
Total
funds
2024
Fixed asset investments
Investment propety
Current assets
Creditors due within one year
6,366,642
1,880,000
116,932
(24,678)
6.366,642
1.880,000
181,567
{80,3131
65.635
155,635)
Tolal
8,337,896
10.000
8,347.896
Analysis of ngt assots bgtwgen funds- prlor period
Expendable
Endowmenl Unrestricted
funds
fvnds
2023
2023
Total
fvnds
2023
Fixed asset investments
Invesknent propety
Current assots
Creditors due wtthin one year
5,854,582
1,750,000
200,762
{22,215)
5,854,582
1,750,000
256. 177
(67.630)
55,415
(45,415)
Total
7, 183, 12g
10.000
7.793. 129
16. Contingent asset
During the prior peri(MJ the tenants of 20 Devonshire Road were asked to carry out dilapidations on the
propety. If works were not ts)mpleted by the tenants then the Trustees were to claim for the necessary
works required. estimated to be £110,000. These wort(s have now been started by the tenant, and at the
Balan￿ Sheet date it is not possible to quanttfy what daim. if any, remains outstanding.
Page 21

JOAN AIN8LIE CHARITABLE TRUST
Notes to the financial statements
For the Year Ended 5 April 2024
17. Opèrating 1¢050 commitsnents IreceFvable)
Al 5 April 2024 the Charty had commiknents to make future minimum lease payTnents urKler non-
cancellable operating leases as follows..
2024
2023
Not laler than 1 year
Later than 1 year and notloter than 5 yearyJ
Later than 5 years
54,095
112,712
02,060
128,035
94,522
228,867
222,557
There is no contingent rent ￿COgniSed as income.
The Charity holds the freehold of the following properties:
20 Devonshiw Road, Bexhill on Sea
12511271129 ElthaTn Hlgh Street, SE9 1TQ
Tokenhouse Chambers. comprising:
51-53 Rosemary Road. Clacton on Sea, C015 1PB, and
42 Station Road, Clacton cfi Sea. C015 1 SX
These properties are managed by the property advisors listed on page 1 of the accounts. A nurnber of
cknmmercial and residential Dperaling leases have been granted on these properties generatlng the rental
income detailed in note 4 of these accounts. The trustees use the professional services of legal advisoTS
or chartered surv8yor5 in all matters pertaining to the grant. renewal or assignment of leases. All leases
currently in place wtll expire on or before 10 September 2033.
qe.
Rel*t￿ party tran•4Gtlons
During the year fees amounting to £29,689 12023.. £30.130} plus VAT were in¢urred from Sayers
BLrtteTWOrth LLP. a company in which Paul Ffrtch is a partner. Of these fees incurred, a balance ol
£16,320 (2023.. £13,788) was outstanding at S April 2024.
These fees {including VATI were spltt as follows=
2024
2023
Managing investments and investrnenl property
Accounting, bookkeeping and Tnjstee meetings
Support costs
8.933
23,717
2,977
12,602
20,982
2,573
35,627
36,157
Page 22

JOAN AINSLIE CHARITABLE TRUST
Notes to the financial Statements
For the Year Endad S Aprll 2024
19. Controlllng party
There was no ultimate controlling paty throughout the Gurrent and previous period.
Page 23