2023-12-31-accounts - The J L Wine Charitable Trust

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REGISTERED CHARITY NUMBER: 291209

`REPORT OF THE TRUSTEES AND`

UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

`FOR`

`J L WINE CHARITABLE TRUST`

Gibbons Mannington & Phipps LLP
Chartered Accountants

20 Eversley Road
Bexhill-on-Sea
East Sussex
TN40 1HE

J L WINE CHARITABLE TRUST

`CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023`

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Page
Report of the Trustees 1 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6
Notes to the Financial Statements 7 to 11
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J L WINE CHARITABLE TRUST

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2023

Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyear ended
31December2023.ThetrusteeshaveadoptedtheprovisionsofAccountingandReportingby Charities:
StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewith the
FinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS102)(effective1 January
2019).

`OBJECTIVES AND ACTIVITIES`

`Objectives and aims`

Thetrustwasformedbydeclarationoftruston5February1985.Thetrust'sobjectsaretomake donations
tobodyorbodiesasareexclusivelycharitableaccordingtothelawofEnglandandWales,atthediscretion of
the trustees.

`Public benefit`

ThetrusteeshaveconsideredtheirdutysetoutinSection17oftheCharitiesAct2011tohavedueregard to
publicbenefitguidancepublishedbytheCommission,andintheiropiniontheforegoingreporton the
achievements and performance demonstrates that they have complied therewith.

`Grantmaking`

The trustees make grants to other charities at their discretion.

`Volunteers`

The trust is not dependent upon the services of unpaid volunteers or donations-in-kind.

`ACHIEVEMENT AND PERFORMANCE`

`Investment performance`

Allthetrustees'capitalisinvestedinquotedinvestments.Thevalueofthetrust'sportfolioasat 31
December2023totalled£1,230,034anincreasefrom£1,163,612asat31December2022.The Trustees
havereviewedtheportfolioregularlyandaresatisfiedwithitsperformanceallowingforthe exceptional
economic conditions which have occurred during the year.

`FINANCIAL REVIEW`

`Financial position`

Totalincomingresourceswere£25,590(£26,928in2022)with£9,941(£9,837in2022)beingused to
generatesuchfunds.Commitmentstocharitabledonationstotalled£12,102(£7,347in2022)with £2,170
(£3,190in2022)beingpaidinrespectofsupportcostsandotherinvestmentmanagementcosts. Recognised
andunrecognisedgainstotalled£74,402(Lossesof£90,597in2022)resultinginanoverallnetincrease in
funds of £75,419 (reduction of £84,043 in 2022).

`Investment policy and objectives`

TheTrusteeshavenotdelegatedtheirinvestmentpowers.lnvestmentsaremanagedforthembylnvestec on
anadvisorybasishavingregardtotheTrustees'investmentpolicyofmaintaininganevenbalance between
income and capital growth with medium-risk profile.

`Reserves policy`

Thetrusteesconsidertheirinvestmentsasexpendableendowments,providingarelativelysecure and
predictablestreamofincomefromwhichtomakegrants.Thetrusteesaimtodistributealargepercentage of
theincome,netofexpenses,ineachfinancialyearandthereforedonotmaintainincomereservesas such;
however,incomelevelsarecontinuallyreviewedbythetrusteestoensurethattheyhavesufficientfunds to
meet with their objectives.

`Going concern`

ThetrusteeshaveareasonableexpectationthattheCharityhasadequateresourcestocontinue in
operationalexistencefortheforeseeablefuture.Forthisreason,theycontinuetoadoptthegoing concern
basis in preparing the financial statements.

Page 1

J L WINE CHARITABLE TRUST

`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023`

`FUTURE PLANS`

Thetrusteesaresatisfiedthattheircurrentpoliciesaresufficienttomeettheirobjectivesanddonotfeel that
these will be amended in the foreseeable future. They will continue to review the position.

`STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document`

Thecharityiscontrolledbyitsgoverningdocument,adeedoftrustandconstitutesan unincorporated
charity.

`Recruitment and appointment of new trustees`

Thepowerofappointingneworadditionaltrusteesisvestedinthetrustees,whopriortoappointment would
be introduced to the workings of the Trust and advised of their joint and several responsibilities.

`REFERENCE AND ADMINISTRATIVE DETAILS`

`Registered Charity number`

`Principal address`

Laytons LLP
Yarnwicke
119-121 Cannon Street
London
EC4N 5AT

`Trustees`

H M Wine
Mrs A M Wine
I A Burman
J S Korn

`Independent Examiner`

David Ashby FCCA ACA
Gibbons Mannington & Phipps LLP
Chartered Accountants
20 Eversley Road
Bexhill-on-Sea
East Sussex
TN40 1HE

`Bankers`

Messrs Coutts & Co
440 Strand
London
WC2R 0QS

`Solicitors`

Laytons Solicitors LLP
Pinners Hall
105-108 Old Broad Street
London EC2N 1ER

`Investment advisors`

Investec Wealth & Investment Limited
2 Gresham Street
London EC2V 7QN

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J L WINE CHARITABLE TRUST

`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023`

Approved by order of the board of trustees on 16 October 2024 and signed on its behalf by:

I A Burman - Trustee

Page 3

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF

J L WINE CHARITABLE TRUST

`Independent examiner's report to the trustees of J L Wine Charitable Trust`

IreporttothecharitytrusteesonmyexaminationoftheaccountsofJLWineCharitableTrust(theTrust) for
the year ended 31 December 2023.

`Responsibilities and basis of report`

AsthecharitytrusteesoftheTrustyouareresponsibleforthepreparationoftheaccountsin accordance
with the requirements of the Charities Act 2011 ('the Act').

IreportinrespectofmyexaminationoftheTrust'saccountscarriedoutunderSection145oftheActand in
carryingoutmyexaminationIhavefollowedallapplicableDirectionsgivenbytheCharityCommission under
Section 145(5)(b) of the Act.

`Independent examiner's statement`

Ihavecompletedmyexamination.Iconfirmthatnomaterialmattershavecometomyattention 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 Trust as required by Section 130 of the 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.

Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationto which
attentionshouldbedrawninthisreportinordertoenableaproperunderstandingoftheaccountsto be
reached.

David Ashby FCCA ACA

The Association of Chartered Certified Accountants

Gibbons Mannington & Phipps LLP
Chartered Accountants
20 Eversley Road
Bexhill-on-Sea
East Sussex
TN40 1HE

17 October 2024

Page 4

J L WINE CHARITABLE TRUST

`STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023`

`Notes` `INCOME AND ENDOWMENTS FROM` `Investment income` `2` `EXPENDITURE ON` `Raising funds` `3` `Charitable activities` `4` `Grants in furtherance of the charity's objects` `Grant related support costs` `Total` `Net gains/(losses) on investments` `NET INCOME/(EXPENDITURE)` `RECONCILIATION OF FUNDS` `Total funds brought forward` `TOTAL FUNDS CARRIED FORWARD`	`2023` `Unrestricted` `funds` `£` `25,590` `9,941` `12,102` `2,170` `24,213` `74,042` `75,419` `1,304,914` `1,380,333`	`2022` `Total` `funds` `£` `26,928` `9,837` `7,347` `3,190` `20,374` `(90,597)` `(84,043)` `1,388,957` `1,304,914`

The notes form part of these financial statements

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J L WINE CHARITABLE TRUST

`BALANCE SHEET 31 DECEMBER 2023`

`Notes` `FIXED ASSETS` `Investments` `8` `CURRENT ASSETS` `Cash at bank` `CREDITORS` `Amounts falling due within one year` `9` `NET CURRENT ASSETS` `TOTAL ASSETS LESS CURRENT` `LIABILITIES` `NET ASSETS` `FUNDS` `10` `Unrestricted funds` `TOTAL FUNDS`	`2023` `Unrestricted` `funds` `£` `1,230,034` `151,954` `(1,655)` `150,299` `1,380,333` `1,380,333` `1,380,333` `1,380,333`	`2022` `Total` `funds` `£` `1,163,612` `142,131` `(829)` `141,302` `1,304,914` `1,304,914` `1,304,914` `1,304,914`

ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on
16 October 2024 and were signed on its behalf by:

I A Burman - Trustee

The notes form part of these financial statements

Page 6

J L WINE CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

`1. ACCOUNTING POLICIES`

`Basis of preparing the financial statements`

Thefinancialstatementsofthecharity,whichisapublicbenefitentityunderFRS102,have been
preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingby Charities:
StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsin accordance
withtheFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS102) (effective
1January2019)',FinancialReportingStandard102'TheFinancialReportingStandardapplicable in
theUKandRepublicofIreland'andtheCharitiesAct2011.Thefinancialstatementshave been
preparedunderthehistoricalcostconvention,withtheexceptionofinvestmentswhichareincluded at
market value, as modified by the revaluation of certain assets.

`Income`

AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlementto the
funds, it is probable that the income will be received and the amount can be measured reliably.

`Expenditure`

Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructive obligation
committingthecharitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswill be
requiredinsettlementandtheamountoftheobligationcanbemeasuredreliably.Expenditure is
accountedforonanaccrualsbasisandhasbeenclassifiedunderheadingsthataggregateall cost
relatedtothecategory.Wherecostscannotbedirectlyattributedtoparticularheadingsthey have
been allocated to activities on a basis consistent with the use of resources.
Grantsofferedsubjecttoconditionswhichhavenotbeenmetattheyearenddatearenotedas a
commitment but not accrued as expenditure.

`Taxation`

The charity is exempt from tax on its charitable activities.

`Fund accounting`

Unrestrictedfundscanbeusedinaccordancewiththecharitableobjectivesatthediscretionof the
trustees.

Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity.
Restrictionsarisewhenspecifiedbythedonororwhenfundsareraisedforparticular restricted
purposes.

Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothe financial
statements.

`Foreign currencies`

Assetsandliabilitiesinforeigncurrenciesaretranslatedintosterlingattheratesofexchangeruling at
thebalancesheetdate.Transactionsinforeigncurrenciesaretranslatedintosterlingattherate of
exchangerulingatthedateoftransaction.Exchangedifferencesaretakenintoaccountinarriving at
the operating result.

continued...

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J L WINE CHARITABLE TRUST

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023`

`2. INVESTMENT INCOME`

`Dividends` `Interest` `3.` `RAISING FUNDS` `Investment management costs` `Portfolio management` `4.` `CHARITABLE ACTIVITIES COSTS` `Direct` `Costs` `£` `Grants in furtherance of the charity's` `objects` `-` `Grant related support costs` `827` `827` `5.` `GRANTS PAYABLE` `Grants in furtherance of the charity's objects` `The total grants paid to institutions during the year was as` `follows:` `National Theatre` `Women and Infants Research Foundation` `Magen David Adom UK`	`Grant` `funding of` `activities` `(see note` `5)` `£` `12,102` `-` `12,102`	`2023` `£` `25,544` `46` `25,590` `2023` `£` `9,941` `Support` `costs (see` `note 6)` `£` `-` `1,343` `1,343` `2023` `£` `12,102` `2023` `£` `1,800` `5,302` `5,000` `12,102`		`2022` `£` `26,913` `15`	`2022` `£` `26,913` `15`
				`26,928`
				`2022` `£` `9,837` `Totals` `£` `12,102` `2,170`	`2022` `£` `9,837`
				`14,272`
				`2022` `£` `7,347`
				`2022` `£` `1,500` `5,847` `-`
				`7,347`

continued...

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J L WINE CHARITABLE TRUST

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023`

`6. SUPPORT COSTS`

`SUPPORT COSTS`
		`Governance`
	`Finance`	`costs`	`Totals`
	`£`	`£`	`£`
`Grant related support costs`	`491`	`852`	`1,343`
`Support costs, included in the above, are as follows:`
`Finance`
		`2023`	`2022`
		`Grant`
		`related`
		`support`	`Total`
		`costs`	`activities`
		`£`	`£`
`Bank charges`		`491`	`361`
`Governance costs`
		`2023`	`2022`
		`Grant`
		`related`
		`support`	`Total`
		`costs`	`activities`
		`£`	`£`
`Independent examiner's fees`		`395`	`384`
`Accountancy`		`457`	`444`
		`852`	`828`

`7. TRUSTEES' REMUNERATION AND BENEFITS`

I.A.BurmanEsq.isapartnerinLaytonsLLP,theTrust'sSolicitors,andbenefitsfromthefeespaid to
thatfirmforlegalandotherduties.Thetotalfeespayableduringtheyearwere£792.Attheyear end
there was a balance owing to Laytons LLP of £792.

`Trustees' expenses`

Therewerenotrustees'expensespaidfortheyearended31December2023norfortheyear ended
31 December 2022.

continued...

Page 9

J L WINE CHARITABLE TRUST

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023`

`8. FIXED ASSET INVESTMENTS`

`MARKET VALUE` `At 1 January 2023` `Additions` `Disposals` `Revaluations` `At 31 December 2023` `NET BOOK VALUE` `At 31 December 2023` `At 31 December 2022`	`Listed` `investments` `£` `1,163,612` `34,268` `(42,324)` `74,478` `1,230,034` `1,230,034` `1,163,612`

The historical cost of the investments at 31 December 2023 is £631,188.

`9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`

`Other creditors` `MOVEMENT IN FUNDS` `Unrestricted funds` `Income fund` `Capital fund` `TOTAL FUNDS`	`At 1/1/23` `£` `25,209` `1,279,705` `1,304,914` `1,304,914`	`2023` `£` `1,655` `Net` `movement` `in funds` `£` `1,102` `74,317` `75,419` `75,419`	`2022` `£` `829` `At` `31/12/23` `£` `26,311` `1,354,022` `1,380,333` `1,380,333`

`10. MOVEMENT IN FUNDS`

Net movement in funds, included in the above are as follows:

`Unrestricted funds` `Income fund` `Capital fund` `TOTAL FUNDS`	`Incoming` `resources` `£` `25,315` `275` `25,590` `25,590`	`Resources` `expended` `£` `(24,213)` `-` `(24,213)` `(24,213)`	`Gains and` `Movement` `losses` `in funds` `£` `£` `-` `1,102` `74,042` `74,317` `74,042` `75,419` `74,042` `75,419`

continued...

Page 10

J L WINE CHARITABLE TRUST

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023`

`10. MOVEMENT IN FUNDS - continued`

`Comparatives for movement in funds`

`Unrestricted funds` `Income fund` `Capital fund` `TOTAL FUNDS`	`At 1/1/22` `£` `18,655` `1,370,302` `1,388,957` `1,388,957`	`Net` `movement` `in funds` `£` `6,554` `(90,597)` `(84,043)` `(84,043)`	`At` `31/12/22` `£` `25,209` `1,279,705` `1,304,914` `1,304,914`

Comparative net movement in funds, included in the above are as follows:

	`Incoming`	`Resources`	`Gains and`	`Movement`
	`resources`	`expended`	`losses`	`in funds`
	`£`	`£`	`£`	`£`
`Unrestricted funds`
`Income fund`	`26,928`	`(20,374)`	`-`	`6,554`
`Capital fund`	`-`	`-`	`(90,597)`	`(90,597)`
	`26,928`	`(20,374)`	`(90,597)`	`(84,043)`
`TOTAL FUNDS`	`26,928`	`(20,374)`	`(90,597)`	`(84,043)`

`11. RELATED PARTY DISCLOSURES`

There were no related party transactions for the year ended 31 December 2023.

Page 11