DocuSign Envelope ID: 09B22AC5-D981-464B-ACD1-4D509974CAC9 **Registered No. 294928** **Miss V R Jarvis Charitable Settlement** **Financial Statements For the Period Ended** **5 April 2023** DocuSign Envelope ID: 09B22AC5-D981-464B-ACD1-4D509974CAC9 ## **Miss V R Jarvis Charitable Settlement** |**Contents**|**Page**| |---|---| |Trustees’ Annual Report|1 - 2| |Legal and Administrative Details|3| |Statement of Trustees’ Responsibilities|4| |Accountants’ Report|5| |Receipts and Payments Account|6| |Statement of Assets and Liabilities|7| |Notes to the Financial Statements|8| DocuSign Envelope ID: 09B22AC5-D981-464B-ACD1-4D509974CAC9 **Miss V R Jarvis Charitable Settlement Trustees’ Annual Report** The Trustees present their Annual Report and the financial statements for the period ended 5 April 2023. This report has been prepared in accordance with guidelines made available by the Charity Commission. A charity with income less than £250,000 is permitted to prepare receipts and payments accounts and is therefore not required to follow the requirements of the new Charity SORP (FRS 102) with regard to the financial statements. To simplify investment and reporting arrangements the accounting reference date has been moved to the 5 April from the 8 June. As a result these accounts have been prepared for the period from the 9 June 2022 to the 5 April 2023, a period of approximately 9 months. ## **Legal Status and Objects** The Charity was formed under a Trust Deed on 9 June 1986. The objects of the Charity are to make donations to such Charities or for such charitable purposes and in such proportions and in such manner and subject to such terms and conditions as the Trustees may at their uncontrolled discretion determine having regard to any directions given or wishes expressed by the Settlor to the Trustees. In reviewing potential donees, the Trustees have been mindful of the Charity Commission’s guidance on public benefit. All manner of charitable causes are supported and the assistance given by the Charity ensures that the public are benefited throughout the local area and beyond. ## **Appointment of Trustees** The power of appointing Trustees was vested in the Settlor (Vivien Rosalie Jarvis) during her lifetime. Thereafter the Trustees will be appointed by the existing trustees in order to bring suitable skills to the Charity as required. The trustees who held office during the period and to the date of signing were: Mr M Drake Mr B Crabtree-Taylor ## **Review of Activities and Financial Performance** The financial statements have been prepared in accordance with the legislative requirements of the Charities Act 2011 as applicable to smaller charities in England and Wales. The Trustees have taken the option available to them to prepare the accounts on a receipts and payments basis because the gross income of the charity is less than £250,000. The main source of income for the trust for the 9 months is interest and dividend income totalling £6,471 (2022 (year): £6,305) and any proceeds from the sale or re-organisation of investments. In accordance with the Trustees’ public benefit responsibility referred to above, the Trustees identify suitable recipients for funding each year. During the period ended 5 April 2023 no donations were made (2022 (year): £10,000 to 1 charity). Donations are typically approved and made annually in April. Due to the change in accounting reference date the donations approved and paid in April 2023 will be reported in the year ended 5 April 2024. At the period-end the charity’s investment portfolio market value was £266,871 (2022: £276,822). Investment income generated by the portfolio is expected to be low in the short term, as many companies have reduced or stopped their dividend payments. However, the portfolio is well diversified, thus giving the Trustees protection against too much volatility. Page: 1 DocuSign Envelope ID: 09B22AC5-D981-464B-ACD1-4D509974CAC9 **Miss V R Jarvis Charitable Settlement Trustees’ Annual Report** ## **Reserves Policy** The Trustees are satisfied that the level of cash funds, currently £72,487 (2022: £84,767), are adequate to meet the objects of the Charity. The trustees do not make awards beyond their available funds. ## **Approved by the trustees and signed on their behalf by:** ## **Mr M Drake Trustee** > Date: 20 December 2023 Page: 2 DocuSign Envelope ID: 09B22AC5-D981-464B-ACD1-4D509974CAC9 **Miss V R Jarvis Charitable Settlement Legal and Administrative Details** ## **Trustees** Mr Michael Drake Mr Barry Crabtree-Taylor ## **Trust Address** Edmondson Hall Solicitors (incorporating Rustons & Lloyd) 25 Exeter Road Newmarket Suffolk CB8 8AR ## **Legal Status** The Charity was formed as a Trust under a Deed dated 9 June 1986 Charity Commission Registration No: 294928 ## **Bankers** Lloyds Bank Plc 48 High Street Newmarket Suffolk CB8 8LF ## **Solicitors** Edmondson Hall Solicitors (incorporating Rustons & Lloyd) 25 Exeter Road Newmarket Suffolk CB8 8AR ## **Investment Managers** Investec Wealth & Investment 30 Gresham Street London EC2V 7QN ## **Accountants** Peters, Elworthy & Moore Chartered Accountants Salisbury House Station Road Cambridge CB1 2LA Page: 3 DocuSign Envelope ID: 09B22AC5-D981-464B-ACD1-4D509974CAC9 **Miss V R Jarvis Charitable Settlement Statement of Trustees’ Responsibilities** The Trustees are responsible for preparing the annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Law applicable to Charities in England and Wales requires the Trustees to prepare financial statements for each financial year. In preparing these financial statements, the trustees should follow best practice and: - Select suitable accounting policies and then apply them consistently; - Observe the methods and principles in the Charities SORP; - Make judgements and estimates that are reasonable and prudent. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy the financial position of the Charity and which enable them to ascertain the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act 2011, supporting regulations and the Trust Deed. 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 Page: 4 DocuSign Envelope ID: 09B22AC5-D981-464B-ACD1-4D509974CAC9 ## **Miss V R Jarvis Charitable Settlement Accountants’ Report to the Board of Trustees on the unaudited financial statements of Miss V R Jarvis Charitable Settlement** In accordance with the engagement letter dated 15 February 2023 and in order to assist you to fulfil your duties under the Charities Act 2011, we have prepared for your approval the financial statements of the charity which comprise the Receipts and Payments Account, Statement of Assets and Liabilities and the related notes from the charity’s accounting records and from information and explanations you have given us. As a member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/regulations. This report is made solely to you in accordance with the terms of our engagement letter dated 15 February 2023. Our work has been undertaken solely to prepare for your approval the charity’s financial statements and state those matters that we have agreed to state to you in this report in accordance with the guidance of ICAEW as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s Board of Trustees, as a body, for our work or for this report. You have approved the financial statements for the period ended 5 April 2023 and have acknowledged your responsibility for them, for the appropriateness of the financial reporting framework adopted and for providing all information and explanations necessary for their compilation. You consider that the charity is exempt from the statutory audit requirement for the period and the requirement to have an independent examination of the financial statements. We have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements. ## **PETERS, ELWORTHY & MOORE** Chartered Accountants Salisbury House Station Road Cambridge CB1 2LA > Date: 20 December 2023 Page: 5 DocuSign Envelope ID: 09B22AC5-D981-464B-ACD1-4D509974CAC9 ## **Miss V R Jarvis Charitable Settlement Receipts and Payments Account for the period ended 5 April 2023** |**Note**
**Receipts**
Bank interest
Dividends:
UK equities (including gilt interest)
Receipts sub-total
**Receipts From Assets**
Proceeds from sale/re-organisation of
investments
**Total Receipts For Period**
**Payments:**
Costs of raising funds:
Investment Management fees
Charitable donations
3
Governance costs
4
**Asset and investment purchases**
Payment for investment assets
**Total Payments For Period**
**Net Receipts/(Payments) being Net**
**Movement in Funds**
**Cash Funds At Last Year End**
**Cash Funds At This Period End**|Total
Unrestricted
Funds
For the 9
months ended
**5 April**
**2023**
£
242
6,229
6,471
78,566
**85,037**
3,354
-
1,230
92,734
**97,318**
(12,281)
84,767
72,486|Total
Unrestricted
Funds
For the year
ended
**8 June**
**2022**
£
7
6,298| |---|---|---| |||6,305
29,519| |||**35,824**| |||3,407
10,000
2,964
42,512| |||**58,883**| |||(23,059)| |||107,826| |||84,767| Page: 6 DocuSign Envelope ID: 09B22AC5-D981-464B-ACD1-4D509974CAC9 ## **Miss V R Jarvis Charitable Settlement Statement of Assets and Liabilities 5 April 2023** ||**Note**|**5 April**|**8 June**| |---|---|---|---| |||**2023**|**2022**| |||£|£| |**Monetary Assets**|||| |Lloyds Treasurers Account||140|1,370| |Lloyds Instant Access Account||66,795|66,670| |Brokers’ Dealing Account||5,551|16,726| |Edmondson Hall client account||-|-| |**Cash funds at end of period being**|||| |**Total Monetary Assets**||72,486|84,767| |**Non-Monetary Assets**|||| |Investment assets – at cost|2|250,479|225,939| |**Total Assets at Cost**|||| |||250,479|225,939| |**Liabilities**|||| |Legal fees||-|1,800| |Accountancy costs||1,620|1,500| |Other creditors (grant approved pre-year||2,000|-| |end 2023)|||| |||3,620|3,300| ## **Approved by the Trustees and Signed by:** **Mr M Drake Trustee** Date: 20 December 2023 Page: 7 DocuSign Envelope ID: 09B22AC5-D981-464B-ACD1-4D509974CAC9 **Miss V R Jarvis Charitable Settlement Notes to the Financial Statements Period Ended 5 April 2023** ## **1 Accounting Policies** The financial statements have been prepared under Section 42(3) of the Charities Act 2011 and in accordance with Charity Commission guidance. The financial period end has been changed to 5 April 2023, in order to align the charity reporting with the date of the investment valuation report. Particular accounting policies adopted by the trustees are described below. ## a) **Income and Expenditure** Income and expenditure is accounted for on a receipts and payments basis. ## b) **Investments** Investments are shown at cost at the year end. ## **2 Investments** See schedule attached. ## **3 Charitable Donations** No charitable donations were authorised during the period (2022: £10,000). Donations were authorised to the following charitable organisations: |Red Cross Ukraine Appeal|**2023**
£
-
-|**2022**
£
10,000| |---|---|---| |||10,000| ## **4 Governance costs** |Legal fees
Accountancy fees|**2023**
£
1,230
-
1,230|**2022**
£
1,567
1,398| |---|---|---| |||2,964| Page: 8 DocuSign Envelope ID: 09B22AC5-D981-464B-ACD1-4D509974CAC9 **Miss V R Jarvis Charitable Settlement Notes to the Financial Statements Period Ended 5 April 2023** ## **5 Trustees’ Remuneration** None of the trustees received remuneration or expenses during the current or previous period. ## **6 Related Party Transactions** The legal fees included within governance costs were paid to Edmondson Hall, where Mr M Drake and Mr B Crabtree-Taylor, the trustees, are both Consultants. There were no other related party transactions during the period and amounts payable are shown in the Statement of Assets and Liabilities. Page: 9 DocuSign Envelope ID: 09B22AC5-D981-464B-ACD1-4D509974CAC9 **Miss V R Jarvis Charitable Trust As at 5th April 2023 Investments** |Allianz Gbl Inv UK Gilt Yield I Inc Nav
iShares II Plc
Royal London Utm Sterl
Ishares Ii Plc USD
Ishares Iv Plc USD Trsry Bond
Ishares Iii Plc Core Global Aggregate Bond Ucits
Oaktree (Lux) Fds Oaktree Global
Aberdeen Oeic V Aberdeen Global Inflation
Royal Dutch Shell
BHP Billiton
Glencore Plc Ord
Rio Tinto
Bunzl
Burberry Group
Smith & Nephew
Astrazeneca
Tesco
United Utilities Group
HSBC Holdings
Standard Chartered
Aviva
Aberdeen
TB Amati
AXA Fund Managers
JH Inv Fds Srs
Baillie Giff Oseas BG American Fund
Brown Advisory Fds US sus
JP Morgan Asset Management
Polar Capital Fund North Amer
Baillie Giff Oseas BG Japanese
M&G Investment Fd Japan Sterling
Hermes Invest Mngm Asia Ex-Japan Eqty
Schroder Unit Trust Asian Income L Inc
M&G Global Div Fd
Ninety one
Fedrtd Grms Inv
Life science Reit
Schroder Real Estate
Warehouse Reit
Brummer Umbrella I Seed
LF Odey Funds LF Brook Abst
Neuberger
Bilfinger Berger/ Bbgi Sicav
INT Public Partner
Sdcl Energy Effici
Jupiter Unit Trust
Natwest Group PLC
BMO Commercial
Fundsmith LLP Equity I Inc Nav Sett
Jupiter Unit Trust Managers
Premier Portfolio Euro Opps
Link Fund
Smiths Group
Woodside Energy Gr
M&G Securities Ltd Gbl Fr High Yld|**Cost as @**
**Holding @**
**08/06/2022**
**08/06/2022**
7,950
4,200
5,056
465
9,855
7,000
-
-
-
-
-
-
-
-
-
-
5,268
400
1,412
100
-
-
979
100
-
-
-
-
754
400
-
-
7,045
1,650
3,424
500
5,248
1,100
4,850
452
6,768
680
5,209
800
7,503
450
6,404
5,000
5,032
6,586
7,807
400
8,358
675
3,939
6,500
5,388
450
-
-
-
-
6,098
3,000
6,955
10,000
4,754
5,000
9,553
6,000
-
-
5,810
5,500
5,206
9,500
6,822
5,000
-
-
6,175
2,700
6,299
600
4,956
4,000
5,797
4,275
-
-
8,010
12,001
9,624
1,300
4,925
4,000
4,301
1,500
2,958
220
5,863
2,000
6,639
5,500
-
250
-
-
6,999
6,612
**225,993**
**126,866**|**No. Of**
**Adds.**
**adds**
3,392
1,975
-
**-**
-
**-**
5,695
38
3,724
1,020
8,471
1,880
5,315
65
5,915
10,000
-
-
2,490
500
-
-
3,122
100
2,856
150
-
**-**
3,917
35
-
**-**
-
**-**
-
**-**
-
**-**
-
**-**
-
**-**
-
-
-
**-**
7,901
6,000
2,950
300
-
**-**
-
**-**
-
**-**
3,541
200
4,725
4,000
-
**-**
-
**-**
-
**-**
-
-
5,238
3,500
-
-
-
**-**
-
-
10,035
99
-
-
4,515
400
-
**-**
568
356
5,461
4,500
-
-
-
**-**
-
**-**
-
**-**
-
**-**
2,902
1,000
-
-
-
-
-
18
-
-
**92,733**
**36,136**|**Disposals**
**Disposals**
**No. Of**

**at cost**
**at MV**
**disp.**
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
1,317
2,121
100
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
1,486
754
348
-
-
-
-
-
-
-
-
-
1,632
722
164
2,605
4,828
400
-
-
**-**
-
-
-
-
-
**-**
-
-
-
-
-
-
-
-
-
1,197
2,865
100
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
4,777
4,540
3,000
-
-
-
-
-
**-**
-
-
-
-
-
**-**
-
-
**-**
4,460
8,145
1,950
-
-
**-**
-
-
-
-
-
**-**
-
-
**-**
8,010
7,439
12,001
9,624
2,777
1,300
4,925
4,636
4,000
4,301
8,365
1,500
2,958
6,668
220
8,795
8,844
3,000
6,639
7,247
5,500
-
3,472
250
-
-
18
6,999
6,396
6,612
**69,724**
**79,818**
**40,463**|**Accumulation div &**
**Reorganisations**
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
**-**|**Cost as @**
**Holding @**
**08/06/2023**
**08/06/2023**
11,330
6,175
5,056
465
9,855
7,000
5,695
38
3,724
1,020
8,471
1,880
5,315
65
5,941
10,000
3,951
300
1,412
100
2,490
500
979
100
3,122
100
2,856
150
754
400
3,917
35
7,045
1,302
3,424
500
5,248
1,100
4,850
452
5,052
516
2,615
400
7,503
450
6,404
5,000
12,933
12,586
10,757
700
8,358
675
3,939
6,500
4,197
350
3,541
200
4,725
4,000
6,098
3,000
6,955
10,000
4,754
5,000
4,791
3,000
5,238
3,500
5,810
5,500
5,206
9,500
6,822
5,000
10,035
99
1,715
750
10,814
1,000
4,956
4,000
6,365
4,631
5,461
4,500
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
**250,479**
**122,539**|**MV as @**
**MV as @**
**05/04/2022**
**05/04/2023**
7,785
9,407
9,309
6,764
9,429
8,155
-
5,637
-
3,299
-
8,546
-
5,198
-
6,069
8,483
7,088
2,965
2,413
-
2,284
6,120
5,284
-
3,073
-
3,730
4,931
4,513
-
4,057
3,577
3,435
5,831
5,381
5,806
6,095
2,258
2,780
2,992
2,110
9,656
3,518
6,547
5,038
8,960
7,365
7,858
16,337
5,916
7,294
10,105
9,315
9,880
9,627
12,893
9,331
-
3,630
-
4,775
7,151
6,873
8,030
7,484
6,423
6,304
9,080
4,664
-
5,230
5,541
3,383
5,515
4,175
8,645
5,265
-
10,441
11,277
3,941
6,630
10,780
6,964
6,056
7,323
6,868
-
3,859
7,439
-
2,777
-
4,636
-
8,365
-
6,668
-
5,942
-
7,247
-
3,472
-
-
-
6,396
-
**276,822**
**266,871**|**Income**
84
-
371
62
50
-
-
447
279
225
-
575
-
25
126
-
150
221
239
48
153
-
-
139
25
-
-
221
-
-
-
-
364
119
-
183
55
305
327
-
-
-
-
339
266
145
98
47
11
149
-
-
99
-
282| |---|---|---|---|---|---|---|---| ||||||||**6,229**| Page: 10