JOSEPH PATRICK TRUST
Charity no. 294475
ANNUAL REPORT AND FINANCIAL STATEMENTS Year ended 31st March 2025
Registered office: 32 Ufford Street, London, SE1 8QD Telephone: 020 7803 4800
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Joseph Patrick Trust REPORT OF THE TRUSTEE FOR THE YEAR ENDED 31 MARCH 2025
1. Reference and Administrative Details
a. Sole Trustee: Muscular Dystrophy Group of Great Britain and Northern Ireland.
b. Charity Number: 294475.
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c. Principal Office: 32 Ufford Street, London, SE1 8QD
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d. Bankers: The Royal Bank of Scotland, 40 Islington Road, London N1 8XJ
HSBC, 28 Borough High St, London SE1 1YB
e. Investment Managers: Investec, 2 Gresham Street, London, EC2V 7QN
f. Secretary: Mr Wojciech Trzcinski (Secretary to the Directors of Muscular Dystrophy of Great Britain and Northern Ireland)
g. Management Committee:
i. Chairman: Mr Julian Pritchard
ii. Mr Ian Gordon
iii. Mr Robert Warner
h. Independent Examiner: Andrew Stickland, Moore Kingston Smith LLP,
9 Appold Street, London EC2A 2AP"
2. Structure, Governance and Management
a. The charity was constituted by a trust deed dated 30th April 1986 and the sole corporate trustee is the Muscular Dystrophy Group of Great Britain and Northern Ireland (operating as Muscular Dystrophy UK).
b. Under the provisions of Part VI of the Charities Act 1993, for the purposes of accounting, auditing and reporting, the Joseph Patrick Trust is treated as a special trust of the Muscular Dystrophy Group of Great Britain and Northern Ireland. Accordingly the accounts of the Joseph Patrick Trust are not audited separately though they are subject to an independent examination and audited as part of the
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consolidated accounts of the Muscular Dystrophy Group of Great Britain and Northern Ireland.
c. Organisation: The Management Committee delegate grant giving powers to a Grants Panel which is chaired by Mr Robert Warner.
d. Risk management: The trustees of the Muscular Dystrophy UK have a
comprehensive risk management strategy based upon a detailed risk register which is subject to scrutiny and regular review which covers all aspects of the charity’s work including Joseph Patrick Trust operations. Key components include a reserves policy and a plan for managing reputational risk. Risks are reviewed against the strategic aims of the organisation and are evaluated against controls in place. Action plans to deal with the net risks are then established and this provides assurance of an effective system to mitigate risks.
3. Objectives and Activities
a. Objects of the Joseph Patrick Trust:
The objects of the Trust are to provide welfare, relief and support to people living with muscular dystrophy or an allied neuromuscular condition. It does this through:
- i. direct financial assistance towards the purchase of equipment related to the disability
ii. encouraging others to support an individual’s equipment requirements
iii. ensuring that applicants receive the optimum equipment for their requirements
b. Joseph Patrick Trust’s aims and objectives for the year.
The Joseph Patrick Trust’s main aim is to run an efficient and equitable welfare grants scheme on behalf of the Muscular Dystrophy UK.
c. Public Benefit
The Charity Trustee considers that it has complied with their duty in section 17 of the Charities Act 2011 to have due regard to Public Benefit guidance published by the Charity Commission and that the benefits that the charity provides are not unreasonably restricted.
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4. Financial Review
Grant making
The Joseph Patrick Trust provides grant funding throughout the UK. Between 1st April 2024 and 31st March 2025; 59 new welfare grants were awarded at the value of £225,557 (2024: £168,772). In the same period £17,259 (2024: £71,517) of unclaimed balances on previously awarded grants were written back to the accounts. Throughout the year JPT continued to pay its liabilities for grants awarded in previous financial years.
JPT in the first quarter of 2024/25 (April 2024 – July 2024) had received grant applications in excess of the £100,000 allocated to the grant fund pot. A further £150,000 was granted to JPT by its parent Charity to continue to allocate further grants for the remainder of the year.
The Management Committee seeks to ensure that the JPT programme can support as many beneficiaries as possible whilst remaining sustainable, and this is a tricky balance to achieve. The JPT panel have continued to award grants as and when they are applied for and an annual panel meeting will be held at the end of the financial year.
Once awarded, a JPT grant is available for 18 months, as awardees seek funding from other sources to raise the full amount for the equipment they wish to purchase. Awardees are contacted towards the end of that period to see if they still require the grant and we are flexible if more time is needed to raise the remaining funds. However, in a number of cases needs have changed or full funding has been secured from other means, so the grant is no longer required, and funds are returned to the Balance Sheet for redistribution.
In 2021/22 we recognised that it is no longer appropriate for JPT to operate a programme of Holding Accounts, whereby people living with a muscle-wasting condition can hold funds with JPT that they have raised or gathered for future use. Contact was attempted with all account holders during 2022/23. Three accounts were not fully resolved by the end of 2024/25 and the remaining balance on these forms part of the grants liabilities balance disclosed in these accounts.
Fundraising performance
Fundraising for the Joseph Patrick Trust is undertaken on its behalf by the Muscular Dystrophy UK which provides an annual grant towards the Grants Panel’s
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expenditure. The grant provided from the parent charity in 2025 was £150,000 (2024: £0).
Funds
Restricted funds carried forward mainly relate to future expenditure on grants in respect of Assistive Technology and funds for grants for children under 18. The balance on unrestricted funds at the year-end represents the realised gains in value of investments and write backs of expired awards. They will be used to cover future charitable expenditure of the Trust.
Reference is made to the support of its parent company and sole trustee under Note 2 to the accounts in the Notes section.
5. Future Plans
i. To continue to support welfare provision for those living with muscle disease.
ii. To continue to develop partnerships with other grant-giving organisations and work towards securing future independent funding through its own fundraising efforts.
iii. To continue to support the Muscular Dystrophy UK’s lobbying and campaigning efforts for more equitable and better funded provision of mobility equipment, especially electrically powered indoor and outdoor wheelchairs
By order of the Trustee
Mr Wojciech Trzcinski,
Secretary to the Trustee
16 October 2025
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Statement of Trustee responsibilities
The trustee is responsible for preparing the trustee’s annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Charity law requires the trustee to prepare financial statements for each financial year. Under charity law the trustee must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources. In preparing those financial statements the trustee is required to:
i. select suitable accounting policies and then apply them consistently;
ii. observe the methods and principles in the Charities SORP;
iii. make judgments and accounting estimates that are reasonable and prudent;
iv. state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- v. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustee is responsible for keeping adequate and proper accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF JOSEPH PATRICK TRUST
I report to the trustees on my examination of the accounts of Joseph Patrick Trust (the Trust) for the year ended 31 March 2025.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
I have completed my examination. I confirm that no matters have come to my attention in connection on with the examination on giving me cause to believe:
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accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
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the accounts do not accord with those records; or
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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.
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I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Andrew Stickland
(FCA, ICAEW)
For and on behalf of Moore Kingston Smith LLP
Chartered Accountants
9 Appold Street
London EC2A 2A
Date: 25 November 2025
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Joseph Patrick Trust
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025
| Notes Income Income from charitable activities Donations, gifts and grants Other Income Legacy Income Investment income Total income Expenditure Expenditure on raising funds Charitable activities Grant making Support costs Total charitable expenditure 2 Total expenditure Net gain / (loss) on investment assets 3 Net movement in funds Reconciliation of funds Total funds brought forward 6 Total funds carried forward 6 |
Unrestricted Funds Restricted and Endowment Funds Total Unrestricted Funds Restricted and Endowment Funds Total 2025 2024 £' £' £' £' £' £' 153,833 153,833 2,615 2,615 0 0 5,938 5,938 8,050 8,050 |
|---|---|
| 159,771 0 159,771 10,665 - 10,665 |
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| 6,788 6,788 7,052 7,052 187,430 20,888 208,318 90,772 6,484 97,256 9,649 9,649 11,254 11,254 |
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| 203,867 20,888 224,755 102,025 6,484 108,509 |
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| 203,867 20,888 224,755 109,077 6,484 115,561 8,244 8,244 18,118 - 18,118 |
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| (35,851) (20,888) (56,739) (80,295) (6,484) (86,779) |
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| 91,632 42,594 134,227 171,927 49,078 221,005 |
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| 55,781 21,706 77,487 91,632 42,594 134,227 |
All income and expenditure derive from continuing operations. There are no recognised gains and losses other than those disclosed above.
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Joseph Patrick Trust BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2025
| Note Fixed assets Investments 3 Total fixed assets Current assets Debtors 4 Cash at bank Total current assets Creditors: amounts falling due within 5 one year Net current liabilities Net assets Represented by the funds of the Charity Restricted funds Unrestricted funds Total Charity funds 6 |
2025 £’ 127,529 127,529 94,302 41,931 136,232 (186,274) (50,042) 77,487 21,706 55,781 77,487 |
2024 £’ 247,285 |
|---|---|---|
| 247,285 | ||
| 2,529 65,854 |
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| 68,383 | ||
| (181,441) | ||
| (113,058) | ||
| 134,227 | ||
| 42,594 91,632 134,227 |
Approved and authorised for issue by the Board of Trustees on 16/10/2025 and signed on its behalf by:
Mr Wojciech B Trzcinski Secretary to the Trustee 16 October 2025
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Joseph Patrick Trust
NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2025
1. ACCOUNTING POLICIES
Basis of Accounting
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) – (Charities SORP 2015 (Second Edition, effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
Joseph Patrick Trust meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Going Concern
In light of the available assets and future income streams, the Trustee considers there are no material uncertainties about the Charity’s ability to continue as a going concern.
Judgements and estimates
Judgements made by the Trustee in the application of these accounting policies that have significant effect on the financial statements and estimates with a significant risk of material adjustment in the next year are deemed to be in relation to the valuation of investments and are discussed below.
Cash Flow Statement
The Trustee has taken advantage of the provisions of FRS102 (SORP 2019) for smaller charities and have chosen not to prepare a cash flow statement.
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Joseph Patrick Trust
NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2025
Income Recognition
Income represents investment income, grants & donations and other sundry income. All income is recognised once the charity has entitlement to income; it is probable that income will be received; and the amount of income receivable can be measured reliably.
Expenditure
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category.
Charitable Activities
Direct charitable expenditure represents grants for the furtherance of the objects of the charity. Grants are recognised in the accounts when awarded by the Trustee and the offers are conveyed to the recipients. The grants are awarded at the discretion of the Trustee within the objects of the charity.
Investments
Investments are included in the financial statements at market value at the balance sheet date. Realised and unrealised gains and losses on revaluation and disposals occurring in the year are reported in the Statement of Financial Activities.
Realised and unrealised gains and losses
All gains and losses are taken to the statement of financial activities as they arise. Realised gains and losses on investments are calculated as the difference between sale proceeds and opening market value (purchase date if later). Unrealised gains and losses are calculated as the difference between the market value at the year end and opening market value (purchase date if later).
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Joseph Patrick Trust
NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2025
Funds
General Unrestricted Funds are unrestricted funds which are available for use at the discretion of the Trustee in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted Funds are funds subject to specific restrictive conditions imposed by the donors.
Financial instruments
Basic financial instruments are initially recognised at transaction value and
subsequently measured at amortised cost with the exception of investments which are held at fair value. Financial assets held at amortised cost comprise cash at bank and in hand, together with trade and other debtors. A specific provision is made for debts for which recoverability is in doubt. Cash at bank and in hand is defined as all cash held in instant access bank accounts and used as working capital. Financial liabilities held at amortised cost comprise all creditors except social security and other taxes.
Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments.
Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
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Joseph Patrick Trust
NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2025
2. CHARITABLE EXPENDITURE
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Grants | |||
| awarded | 225,577 | 168,772 | |
| Cancellation of lapsed | |||
| grants | (17,259) | (71,517) | |
| Support Costs | 9,649 | 11,254 | |
| Total charitable | |||
| expenditure | 217,967 | 108,509 | |
| The Trust employs no staff nor has it entered into any contracts other than for its direct | |||
| charitable expenditure. Its parent and sole trustee, | the Muscular Dystrophy Group of | ||
| Great Britain and Northern Ireland, provides accommodation and administrative | |||
| support in return for reimbursement of £ nil (2024: £ nil). Whilst not employing staff, | the | ||
| Trust bears the costs of staff employed solely on the business of the Trust plus any | |||
| other direct fees and expenses. | |||
| All grants are made to individuals. | |||
| 3. INVESTMENTS | |||
| The investments are held under discretionary investment powers. Investments are held | |||
| on recognised stock exchanges. Of the total £0k (2024: £30k) is held as gilts or fixed | |||
| interest securities, £122k (2024: £19k) as cash and in alternative assets, £5k (2024: £8k) in | |||
| UK property, £0 (2024: £136k) overseas holdings. The balance of £0 (2023: £54k) are | in UK | ||
| equities. | |||
| 2025 | 2024 | ||
| £ | £ | ||
| Market Value at 1 April | 247,285 | 230,139 | |
| Acquisitions | 259,578 | 79,855 | |
| Sales proceeds | (387,580) | (80,827) | |
| 119,284 | 229,167 | ||
| Gains/(Losses) on disposals and revaluation of | |||
| investments | 8,244 | 18,118 | |
| Market Value at 31 March | 127,528 | 247,285 | |
| Historical Cost at 31 March | 126,338 | 243,392 |
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Joseph Patrick Trust
NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2025
4. DEBTORS
| 2025 | 2025 | 2024 | ||||
|---|---|---|---|---|---|---|
| £ | £ | |||||
| Amount due from parent company | 93,515 | 0 | ||||
| Accrued income | 787 | 2,529 | ||||
| Debtors | 94,302 | 2,529 | ||||
| 5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||
| 2024 | 2024 | |||||
| £ | £ | |||||
| Grants to be paid (including Holding | Accounts) | 184,903 | 174,392 | |||
| Amount due from parent company | - | 2,108 | ||||
| Other creditors | 1,371 | 4,941 | ||||
| Creditors | 186,274 | 181,441 | ||||
| 6. FUNDS | ||||||
| Balance at Expenditure | Income | Investments | Balance at | |||
| 1 Apr'24 | Gains/ | 31 Mar'25 | ||||
| (Losses) | ||||||
| £ | £ | £ | £ | £ | ||
| Restricted Funds | ||||||
| Change for Children Appeal | - | 0 | - | - | - | |
| Other Funds | 20,888 | (20,888) | - | - | ||
| Assistive Technology | 21,706 | - | - | 21,706 | ||
| 42,594 | (20,888) | - | - | 21,706 | ||
| Unrestricted Funds | ||||||
| General Fund | 91,632 | (203,867) | 159,771 | 8,244 | 55,781 | |
| Total Funds | 134,227 | (224,755) | 159,771 | 8,244 | 77,487 |
Assistive Technology fund is used for grants towards equipment. 'Assistive technology' has been defined as ‘any product or service that maintains or improves the ability of individuals with disabilities or impairments to communicate, learn and live independent, fulfilling and productive lives though the usage of technology'.
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Joseph Patrick Trust
NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2025
Other restricted represent funds specifically restricted to children under 18 years
old. These funds were fully utilised in the year and applied to equipment or support grants where the age restriction were met.
| Balance at Expenditure | Balance at Expenditure | Income | Investments | Balance at | |
|---|---|---|---|---|---|
| 1 Apr'23 | Gains/ | 31 Mar'24 | |||
| (Losses) | |||||
| £ | £ | £ | £ | £ | |
| Restricted Funds | |||||
| Change for Children Appeal | - | - | - | - | - |
| Other Funds | 20,888 | - | - | 20,888 | |
| Assistive Technology | 28,190 | (6,484) | - | - | 21,706 |
| 49,078 | (6,484 | - | - | 42,594 | |
| Unrestricted Funds | |||||
| General Fund | 171,927 | (109,077) | 10,665 | 18,118 | 91,632 |
| Total Funds | 221,005 - | 115,561 | 10,665 | 18,118 | 134,227 |
7. INDEPENDENT EXAMINER
The independent examiner’s fees for 2025 were £1,440 (2024:£1,380).
8. STATUS OF THE CHARITY
The trust is an unincorporated discretionary trust, which is a registered charity. It has a sole corporate trustee, the Muscular Dystrophy Group of Great Britain and Northern Ireland.
9. RELATED PARTIES AND ULTIMATE PARENT UNDERTAKING
In the Trustee’s opinion, the Trust’s ultimate parent undertaking and controlling party is the Muscular Dystrophy Group of Great Britain and Northern Ireland a registered charity and a company limited by guarantee registered in England and Wales.
There were no other related parties transactions (2024: nil) other than grant in year, recharge of staff costs and settlement of other costs as set out in note 2.
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