Charlty regl$tratlon number 293571 (England and Wales) THE PETER JOST CHARITABLE FOUNDATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
THE PETER JOST CHARITABLE FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION Trustoes Mr R E Worby Prof J Awilliams Prof H A Spikes Prof H P Evans Charlty number 293571 Prfn¢ipal address Fast Wing Goff Oak Hotjse Goffs Lane Goffs oak Waltham CT0S5 EN7 5GE Independ•nt examlner Kingsman-Accnt8nIS Llmited 9 K8nnedyAv8nuè Enfield mdIes8X EN3 4PA Bankèrs C Hoa & Co. 37 Fle8t Street London EC4P4DQ Invostment managèrs Rathbones 30 Gwesham Straet London EC2V 7QN
THE PETER JOST CHARITABLE FOUNDATION CONTENTS Page Chairman's statement Trustees. report Indep8ndent examinerfs report Statement of fin8ncial adimties 8alan<x sheet Notes to the financial statements 7-12
THE PETER JOST CHARITABLE FOUNDATION CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 5 APRIL 2025 Pleasingly the Foundation has been focussed upon 8xt6nding its support to entiti88 and InltiatiVg8 in their primary arèa of int8iÈst, i.e. the furtherdnce ol the science of Tribology. During thg y8ar Peter Jost Trav81 Fund provided financial support to 47 UK b8sed acad8mies and re88archers in attending tribdogy and relat8d conferences. Tha aggreg8t8 donations made by thè Foundation durin9 the yaar have increased by mor8 than 38°/0. Most notably the'Jost Stud8ntshlp" is providing full funding and vilal experience for a selected PhD siudents over a 3- year term creating an opportunity for successful candidates to WO in highly caliVe and inntsvativg surroundlngs. The Foundation is committ8d towards a prograrnme of further and similar awards and placetnents. l offer thanks to my fellow trustees and staff for their dedication and Èxpertise without which none of the ft>regtslng would have bee Possible. RobSn Worby Chairman Dated". ......
THE PETER JOST CHARITABLE FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 5 APRIL 2025 Th8 Trustees present their annual report and financial stalem8nts for the year ended 5 April 2025. The financial statement5 have been prepared in accordance wth the accounting poliaes set out Sn note 1 to th8 financial statements and comply with the Foundafjon's Trust Deed, the Charities Act 2011 and "Accounting and R8porting by Charities.. Stat8ment of Recommended Practice applicable to charities pparIng their accounts in accordanc8 with the Financial Reporting Standard applicable in the UK and Republic of Ire18nd IFRS 1021° las amended for accounting periods commencing from 1 January 20161 Obieetlves and aetlvltles The Foundation was set up to make donation5 to various charities and othgf scientific research institutes. particula ihos8 involved in TTibology. During the year il has eontlnued to PTovid8 funding to suth organisations. The Trustegs have paid due regard to guidance on public benefit issued by the Chaty Commission in deciding what ad1Ve$ the FOundan should undertaka. The FoLtndation s links with the community have continued throughout the y88r. This included provlding funding for various 8ducational and reSeah PTojects as w811 as other organisations within th8 charity sector. D8tai15 are shown in note 4 to th8sè thnancial statements. Achl•vements and performance During the year under review, charities and Instltutions enjoying charitab18 Status dealing with education. the fvrtherance of Scien and disablement have been supported. Flnan¢ial rnvlew other donations paid dtjring the y98r total som8 £189,14912024.- £136,82618nd a listing of the benef¢clar$ of the award5 are listed in note 4 to the financial statements. Th8 net incominglloutgoingl resourc9s for the year amounted to 1£305,878112024.. £44,780) and at the end of the year Ihg Foundation had cash assets of £194,79312024.. £143,357). The financial position continues to b monitored by the Trustees. Th8 Trustees considered that th8 funds available would be adéquate to fulfill the future obllgaiions of the Foundation. Resolves polley Unrestricte(I funds amount to £3,906,15512024'. £4,212.0331. This lgvel of reserves will allow The Peter Jogt Charitable Foundallon to ¢ontinue operating and provide it with the capacity to pursu8 Its charitab18 objects. Our poleY is Iher8fore to maintain these r8serves by matching the volume of grants made vmh inrne receivable. Investm•ntpolicy Investment powers are govèrned by thé trL¢St deed. There are no rastrictions on thè Trustees. absolute powers of investment. Rlsk manag•ment Th8 Trustees ConnUe to keep the Foundation's aCtitieS under review, parti¢u18rly with reg8rd to any major risks tliat may arise from tirne to tsme and to monitor the effectiveness ol the syst&Tll of internal controls and oth8f viable means by whrth those risks alfeady identified by the Trustees can best be mitigated.
THE PETER JOST CHARITABLE FOUNDATION TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025 Structure, govèrnance and management Tho Foundation is governed by the Trust De8d dattrd 2 January 1986 Iwhieh spe¢rfS the objectives ol the Foundation and its beneficiaries) as expanded by the Deed of Enlargement dated 3 February 2017. With 8ffect from 29 May 2020 the Foundation has been incorpor8t8d a5 a body corporat8 by the Charity Commission of England and Wales under power gwen in section 251 of the Charities Act 2011. The Trust8es who served during the year and up to the date of signatur8 of the financial statements we- Mr R E Worby Prof J A Williams Prof H A Spikes Prof H P Evans The appointment of new Trustees is governed ty the Foundation's Trust Deed and the power to appoint new Trustees rests with Trustees that prevail from time to time. The Trustees m88t on a regular basis to discuss the Foundation's affairs. s. report was approved by the Board of Tru$t88S. Mr R E Worby Trustee Dated.. .
THE PETER JOST CHARITABLE FOUNDATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE PETER JOST CHARITABLE FOUNDATION I report to the Truste8s on my examinabon of the financièl statemenls of The Peter Josl Charitable Foundation Ilh8 Foundation) for Ihe year ended 5April 2025. Responsibilitles and basis of report As the Trustees of the Foundation you 8r8 responsible for the preparation ol Ihe financial ststements in accordance wth the requirements of the Charities Act 2011. I reFK)rt In respect of ffly examinatii)n of the Foundatlon's financial statements carried out under Section 145 01 the 2011 Act. In carrying out my examination, I have followed all the applicatle Directions given by the Charity Commission under seclion 14515llbl of thè 2011 Act. Independent examinèr's staternent Your attention is drawn to the lacl that the charity has prepared the financial statements sn accordance with the relevant version of lh8 Statement of Recomrnende(I Practice applicable to charities preparing their financial sta18rllents in a¢(x)rrlance with the Financial Reports"ng Standard applicable in the UK and Republic of Ireland IFRS 1021 in preference to tre Accounting and Reportsng by Chariti8s'. Statement of Recommended Practs"ee issued on 1 April 2005 which is referred to in the exiant regulalions but has now been withdrawn. l understand that this has been done in order for the financial statements to provlde a true and fair view in attor¢Jance with UK GèneraltyAccepted Accounting Pra¢tic8. I have Completed my examination. I confimi th8t no matter3 have come to my attenOn in conngdion with Ihe examinatlon giving me cause to believe that Iri any material respect.. a¢(x)unting records were not kept in re8PgCt of the Found8tion as required by section 130 of the Charities Act2011. the financial statements do not alrd with Ihosa records., or the financial statements do not comply with the applicable requirements con¢emÈng the fomi and content of financial staternents set out in the Chariti8s IAccounts and Reports) Regulations 2008 olh8f than any requbr8ment that the flnancial 5tBtements giva a true and fair vlew, which is not a matt8r considered as part of an independent examination. I have no concerns and have wm8 across no other matters in connection with the examination to whith attention Should be drawn in this r8POrt in ord8r to enable a proper understanding of the financial ststemgnts to be re8chad. Mr J Saminadefi FMA4T Independent Examiner 9 KennedyAvenue Enfield MiddI8sex EN3 4PA Dated.. ..Qfj.F.£b.2Q2.&
THE PETER JOST CHARITABLE FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 5 APRIL 2025 Unrestricted Unrestrtct8d funds funds 2025 2024 Notss Inc me from: Investment incomg 164.815 26.645 •n(Ilture on- Charilable activiti8s 263,281 212,789 Ngt galnsll103$8s1 on investments 1207,4121 230,924 Net movemgnt In funds 1305,8781 44,780 Fund b81ances at 6 April 2024 4,212,033 4,167,253 Fund balancos at S April 2025 3.906,155 4,212,033 The statemènt of ffinancial a¢'VItieS indudes all gains and losses recognised in ihe yoar. The statement of financial actthties includes all g8n$ and losses rec(yJnised in th8 year. All income and expendllure derive from continuing adwitles.
THE PETER JOST CHARITABLE FOUNDATION BALANCE SHEET ASAT5APRIL 2025 2025 2024 Note$ Fix4d assets Tangible assets Investments 10 11 1,243 3,726.267 4,084,174 3,727,510 4,084,174 Current s•ts Debtors Cash at bank and in hand Cash with stockbroker5 12 982 25,826 168,967 3,848 83,686 59,671 195.775 147.205 Creditors- amounts falllng due withln on8 yoar 13 117,1301 119,3461 Net current 88s8ts 178,645 127,859 Total ass•ts le86 ¢urr•nt Ilabllitiès 3,906,155 4,212,033 In¢omo lunds Unreslrict8d funds 3,906,155 4,212,033 3,906,155 4,212,033 Tha cial statements were approvgd by the Tru8tees on .. MrR E Worby Trustee
THE PETER JOST CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Accountlng policies Foundatlon infom)atlo The Peter Jost Charitable Foundation is an incorporat8d charity whose principal addr8ss is East Wing, Golfs Oak House. Goffs Lane, Goffs Oak, Waltham Cross. EN7 5GE. 1.1 Accountlng convention The financial statements have been prepared in accordance with the Foundation's Trust D88d, the Charitigs Act 2011 and 'Accounting and Reporting by Charities: Statetnent ol Recommended Practice applicable to charit185 prepariNg their ac(x)unts in accordance with the Financial R8porting Standard appli¢able in the UK and Republic of Ireland IFRS 1021° {8s amended foT accounting Pd$ comm8ncing from t January 20161. The Foundation is a Public 8enefit Entty as defined by FRS 102. The financial stat8ments have departed from the Charities (Accounts and Reports) Regulatioris 2008 only to the extent required to provide a true and fair vi8w. This departure has involved following thè Stat8rn8nt of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Pract1 which is referred lo in the ReguLqtions but which has since been withdrawn. The financial statements are prepared in $18rting, which t5 the fL¢nctK)nal currency of the Foundation. Monetary amounts in th9se financial statements are rounded to the n8ar85t £. The financial stst8ments have been prepared under the historical cost conventlon, mcKlified to includg fLxed asset Investsnents at fair value. The principal accounting policies adopted are set out below. 1.2 Golng nCern At the time of approvTrng the financlal stat8ments. the Trustees have a reasonable expectation that th8 Foundation has adequate resources to continue in operational existenee lor th8 foTeseeable fvture. Thus the Trustees continue to adopt lh8 going concem basis of accounting in Pfeparing the financial statements. 1.3 Charltablè funds Unrestricted funds aTe availabl8 lor use at the discrètion of th8 Twstees in furtherance of their charitable objectiV8s unless the funds have been d8signat8d for other purptsses. 1.4 Income Income is recogni58d when the Foundation Is legalty entbtled to it after any pgrformance ctsndilions 118ve been met. the amounts can be m8asured roliably, and it is probab that income wlll be received. 1.5 Expendlture Resourc85 expend8d are included in th8 Ststement of Financi&l AcÈNities on an arLruals basis, inclusive of any VAT which cannot be r8eover8d. They are recognised when Ihere is a legal or constructive obligation lo pay for expenditure. Grants and don8tions payable are charged to the Statemènt of Fbnancial ActNities in the p8riod in which they havè been approved and committed.
vem8nee costs represent thos8 eosts asstsaated with meeltng the ¢onsltutional 8nd statutory requir8m8nts of th* Found8tlon.
THE PETER JOST CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 5 APRIL 2025 Accountlng poIIcig5 Icontinuedl 1.6 Tangible flxed assets Tangible fixed ass8ts are initially MeaSud at cost and subs8quently m8asured * cost or valuaboA, net of depreciation and any impaimient losses. D8preciation is r8cognis8d so as to write off the cost or valuation of assets less their residual valu85 over their useful lives on the following bas8S-. Computers The gain or loss arising on the disposal of an ass8t is delemined a5 the diffence belween thè sale proceeds and the ¢airying value of the ass8t, and is recognised in th8 Statem8llt of fin8nclal activities. 25% Straight Line 1.7 Flxed asset Investm•nts Fixed asset investments are initially measured at transaction price exduding transaction costs, and are subsequently measur8d at f8ir valu8 at each reporting dat8. Changes in lair value are r8cognised in net incornellexpenditurel for th8 year. Transaction costs are expensed as incurrèd. 1.8 Impairnient of flxed assets At each Teporting end date, the Foundalion reviews the c8rrying amounts of Its tangible assets to determinè whelh8r there Is any indication that thos8 assets have 5Lrffered an irnpaiment kjss. If any such indication exist5. the recoverable amount of the asset is estimated in order to determin8 the extent of the imp8irment loss lil any). 1.9 Cash and eash equlval•nts Cash and cash 8quival8nts include cash in hand, deposrtg held at call with banks, other short-term liquld inv8stm8nts with original maturlties of three months or18ss, and bank ov6rdraft5. Bank overdrafts arg shown within borrowings in current liabilrfi8S. 1.10 Flnancial Instrumènts The Foundation has elected to apply the provisions of Section 11 'Basie Financial Instrurnents, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its financi81 instruments. Financial instrurnents are recogni58d in the Foundation's balance sheet when th8 Foundation b8comes party lo the contractual provisions of the instrumenl. Basic flnanttlal a$sots Basic financlal assets, which include debtors and cash and bank balances. 8re initially measur8d at transactio prioe including transaction costs and are subsequently carried al amortised Cost using the effectivg interest m8thod unless the aTrangement constitutes a financing transaction. where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Finanaal assets classified as receivable within one y88r are not alrtised.
THE PETER JOST CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025 Accounting polici•s (Continued) Basie Ilnancial liabilitles Basio financial liabilities, including credllors and bank loans are initially recogni8ed at transaction price unless the arrangement oonstilut88 a financing transaction, where the debt instrument is measured at the present value of th8 futur8 payments discounied at a rn8rket rate of interest. Financial liabilitses classified as payable within one year afe not amortised. Debt instrum8nts are 5ub5equently carried at amortised cost. usin9 the effective interesl rdte method. Trade creditors are Obligatn& to pay for goods or services that have been acqulred in the ordinary ¢x)urse of operation5 from supplieig. Arnounts payable are classified as currgnt liabilrties il payment 15 due within one year OT less. If no¢, they are presented 89 non-current liabilitigs. Trade credrtors are recognised initially at transaction price and subsequently measured 8t amortised cost using the effectNe InteSt method. DereGognltion of financl81 Ilabllities Financial liabilities are derecognised when the Foundation's contrdcbJal obligations expire or are dlscharged or eancelled. 1.11 Employ•• b¢n•fits The cost of any unused holiday entrtlem8nt is r8cogni88d in tha period in whh the employee's 89rvices 8re r8ceiv9d. 1.12 Retirement benefits P8ym8nts lo defined contribution retirement benefit schern85 are charged 8s an èxpense as they fall due. 1.13 Redundancyftemilnation payments Redundancy and termin8tion costs are recognised as an expense in the Statement 01 Financial Activitlès. The termination costs that arose during the year w8re paid out prior to the year end and so there is no outstanding liability. Investment incom& 2025 2024 Income from managed funds Realised profivllossl on sal8 of investrnents 87,156 77.659 104,655 178.0101 164,815 26,645 Charitable actlvliles 2025 2024 GrantfLJnding of aotivities Ise8 not9 41 Support costs Isee note 51 Gov8mance cost5 (see not8 5} 189,149 62,443 11.689 136,826 66,449 9,514 263,281 212.789
THE PETER JOST CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025 Grants payable 2025 2024 Grants.. Tho Petsr Josl Travel Fund Int8inalionaS Tribology Coundl Univ8rsity of Central Lancast8r zheimèrfs Reseach VK Brunel University of London Scienc& and Technology Foundation Trust Trlbo UK annu81 conferen NF2 Bio Solution5 UK The Cardrfl University 49,431 1,718 58,049 1,777 1,000 23,000 40,000 10.000 40,000 9,000 2,000 25,000 25,000 40,000 189,149 136.826 Support and govornance Costs Support Govemance costs costs 2025Support costs Governance costs 2024 staff costs D8precialion Rent and rat8S Insurance Computer costs Offic8 supplias Telephone Bank charges Foreign exchangg stockbrokers fees Lega5 and professlonal f8aS Accountants, fees Indepandent Examlnerfs 17,610 287 929 1.033 695 209 1.442 404 1341 37,723 17,610 287 929 1,033 695 209 1.442 404 1341 37.723 20,413 20,413 3,777 1,037 112 3,777 1,037 112 1,645 1,768 1,032 36,665 1,645 1,768 1,032 36,665 2.145 2.145 5,852 5,852 5,138 6,138 765 5.072 765 5.072 765 3,611 765 3,611 Adminlstr8tion cogts. 62,443 11.689 74.132 66,449 9,514 75.963 Allocated lo.. Charit8ble activ(ti8$ 62,443 11,689 74,132 66,449 9,514 75,963 Trusto•s None of the TDJste8s lor 8ny P8tsons Connected with them) receivod any remunerabon or benefits from the Foundation during the year. except 88 disclosed in note 14.
THE PETER JOST CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025 Employee5 Numbèr of employees The avgrage monthly number of employges during the y88r was= 2025 Number 2024 Number Adminislr8tion staff Employmont costs 2025 2024 Wage5 and salaries Pension (yjsts 17,115 495 20,000 413 17,610 20.413 There were employe8s whose 8nnual remuneration w8s £60,000 or more. Net galnslllossesl on Inv¢stm•nts 2025 2024 Revaluation of investm8nts 1207,4121 230,924 Taxatlo The chariiy is ox8mpt from taxation on its adivibes because all ils income is applied lor ch8riiabte purposes. 10 Tanglble fixed asjets Comput¢rs Cost Additions 1,530 At 5 April 2025 1,530 Doprèclation and impalrment Depredatson charged in the year 287 At 5 April 2025 287 Carrying amount At 5 Apfil 2025 1,243
THE PETER JOST CHARITABLE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 5 APRIL 2025 11 Flxed asset Investments Li5t•d Investments Cost or valuation At 6 April 2024 Additions Valuation changes Disposals 4,084,174 2.671,646 1207,4121 12,822.1411 Al 5 April 2025 3,726,267 Carrylng amount At 05 April 2025 3,726,267 At 0SApril 2024 4,084,174 The historic C05t of the investm9nts at 5 April 2025 was £3,849,22212024'. £3,962,054). 12 Dgbtors 2025 2024 Amounts falllng due wlthln one y•ar'. Oih8r debtors 982 3.848 13 Creditors= amounts falling du8 Wlthln ono year 202S 2024 other creditors 17,130 19,346
THE PETER JOST CHARITABLE FOUNDATION INCOME AND EXPENDITURE ACCOUNT (FOR MANAGEMENT PURPOSES ONLY) FOR THE YEAR ENDED 5 APRIL 2025 2025 2024 INCOME Invèstment income Inwme from managed funds 87,156 104,655 otr rKOgniS galns and lo$sès R8ali5ed and unreallsed gainslllossg81 on Investment assets 1129,7531 152.914 {42.5971 257,569 EXPENDITURE Grants payable In furtherance of th• Foundatlon's obj•¢ts Grants and donations pald during the y8ar 189,149 136,826 Support and gov•man¢8 costs staff costs Depreciation Rent and rates Insurance Computer costs Off1¢8 supplies Telephon8 Bank charg8S Foreign exchange stockbrokers fees Legal and professional fees Accountsnts. fees Independent Examinerfs feas Adminlstration costs 17,610 287 929 1,033 695 209 1,442 404 1341 37,723 2.145 5,852 765 5,072 20,413 3,777 1,037 112 1,645 1,768 1.032 36,665 5,138 765 3.611 74,132 75.963 263,281 212,789 Tol81 inc0rn8 for the year Totsl expenditure for the year 142,5971 {263,2811 257,569 1212,7891 Net lexpgndlturgllincom• for th• year 1305,8781 44,780