``` 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`** **----- Start of picture text -----**
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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`** ``` 291209 ``` ## **`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 ``` ``` Page 2 ``` ``` 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 ``` ``` Page 5 ``` ``` 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... ``` ``` Page 7 ``` ``` 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... ``` ``` Page 8 ``` ``` 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 ```