THE .IOYCF. FI.F.TCItF.R CHARITABLE TRUST ACCOUNTS FOR THE YEAR ENDING 5 APRIL 2024
THE JOYCE FLETCHER CHARrrABLE TRUST CONTENTS PAGE LEGAL AND ADMINISTrATIVE DEfAILS REPORT OF TFtE TRUSTEES REPORT OF THE NDF.PENDENf EXAMINER STATEMwf OF FINANCIAL AcTIVIs BALANCE SHEET NOTES TO THE FINANCIAL STATEMENTS I PRtNCtPAL ACCOUNTING POLICIES 10 2 TAXATION io 3 fNVESTMEwf INCOME 4 CHARITABLE ACTTVITJES 5 RELATED PARTY TRANSACTIONS 13 6 CHARITABLE EXPENDITURB 13 7 COSTS OF RAISING FUNDS 13 8 INVESTMENTS 13 9 BANK AND DEposfT BAIANCES 14 I O CONTINGENT ASSETS 14 I I DEBTORS 14 12 CREDtTORS 15 13 FUND ASSETS AND LIABILITIES 15 SCHEDULE TO THE FANCIAL STATEMENTS I SCHEDULE OF INVESThtENTS AND INCOME RECEIVED 16
THE JOYCE FLETCHER CHARtTABII TRUST LEGAL AND AMINISTRATtVE DETAtts Charity natne and regxstration number.. The Joyce Fl¢t¢her ChaTitable Trust Registercd Charity Number 297901 Correspondence addr¢ss'. 68 Circus Mews Bath BAI 2PW Governing document.. Trust Deed da*d 3 April 1987 Tru5t¢¢5.' Robert Andrew Fletcher OBE (Chair of Trnstees) William David Reddihough Fletcher Stephen Pet¢r Fletch¢r Susan Carol Sharp Bankers: Coutts & Co 440 Strand London WC2R (QS Investment advisors and manas Cn0ve Capital Manwment Schroder & Cn. l.imited I [d0 Wall P London EC2Y SAU Independent examiner: Mor8an James Rigby MJR trusts IngleniJoL 509 New Mill Road Brockholes Holmfirth HD9 7EG Page I
THE JOYCE FLETCHER CHARTTABtE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED S APRIL 2024 History> objeelives and activities of the Trustees Joyce Ir¢ne Fletcher was born in 1911 and married William Kenneth Fletcher in 1935. They had two sons William David Reddihough FletcheT and Robert Andrew Fletcher. The Charitsble Trust was established on 3rd April 1987 by Mr W K Flelcher in consultation with his sons, as a way of directing some of the family's wealth to a variety of good causes largely in the flelds of the Arts and other charitable causes. The trust deed gives the trustees the power to apply the funds to specific charitable objectives or for general charitable purposes. The trustces currently have a policy of supporting fcstivals. institutions and organisations SrcIall$lng in n)usic and arts pcrfornwice educ&ion in a social or therapeutic context and in organisations involved in young people's welfare, a particular inleresi being the role of music in the lives of disablcd and tslented able children and young people. Virtually all recipients are ik1SelveS charlties. This is achieved through the making of annual grants from the income accumulated ¢ach year. However, the trust deed does allow the trustees to make grants outside these immediate objectives and in these case8 it is applications from the South West which tend to be considered or where the trustees have local Ilnks. A dialogue with some of the recipient charities has been maintain¢d for some years. During 2023 Ihe trustees made a gignificvdnt decision tbat in the next five years the trnst will move its activities to th¢ north of F.ngland. where some of the trustees are rident. the obje¢tives will bcgin to include Sports and Childrcn, and also the Environm¢nt ID the North where the trust has its family origins. The hitherto support for the Arts and young people's welfare ID the South West will gradually be wound down. Management ADd governanee arrangements There are four trustees at Ptesent. Mr R A Fletcher OBE(ChaÈr) and Mr W D R Fletcher(sons of Joyce Fletcher) have been tSteeS since the trust was crea*d. and Mr S P Flelcher and Mrs S C Sharp(grand- hildreii uf J(IyLe Pleicher) w¢re appointed trustees in 2004. Any new tnLStees would be identified and appointed by the remaining trustees. The chair of trL is responsible for the induction of any new trustees, whiLh would involve awarenes5 of a trustee's reswnsibilitics the governing documenL administrativ¢ procedurcs and the history and procedures of the charity. A new tThte¢ would receive copies of the previous year's annual report and a copy of the Charity Commission documenl'The Essential Trustee.. What You Need to Know"(CC3). The trust has ¢onsidered its Safeguarding responsibilities with tegard to recent legislation and public concerns, and it has concluded that it does not fall within the registration requirements of the DBS Code of Practice, as the role of the tTr is purely to make grants. When trustee visits a made to recipient organisations, these are always hosted or escorted by their personnel. Page 2
THE JOYCE TCHER CHARTTABLE TRUST REPORT OF THE TRUSTEES FOR THI YEAR ENDED 5 APRIL 2024 The trustees aDnually review the risks that the charity faces. To date, these have been mainly related to investment management. A policy of wide diversification is maintsined with a view to creating incotne and re&8onable asset growth. Bi-annual tneetiDgs are held with the investment manag¢r, and regular contsct is maintained through the year. Proeedutts and policy for grant-making The tNst is entirely a grant-making body and has no prom or HR responsibilities. Applications are considered in Sepiember to November each year, and grants are made in the middle of November. Grants usually range from £500 to £5000. The major purFK)se of the trust is to supwrt Music and the Arts in a Therapeulic or Social Context. A good prowrtion of grants are repeats but some new ones are added each year as others fall away. The trustees try each year lo apportion the grants to cover IM)th high ability and disadvantageldisability in the f0m]ing arts as well as cover the age ranges of children and young people. Geographic spread in the South West and a representative rdnge of perfomiing arts activities are also strong crit¢ria for the choices. Feed-back is expected and visits aR made to assess the impact of grants. Only very rarely will a grant be n]ade to an individual, usually already known to the trustees. Applications are accepted throughout the year by letter. Th¢Te is no forn1 application forni. Evidence of past viability and records, including financial, is required. Successful applicants are usually registered Charitics. The deadline for applications 18 1 sl Nov¢mber, assuming funds are still available. Ncw applicaDt8 Ydre strvngly advised to write before this prefcrabty in September. Telephone enquiries are accepted. An inforn]ation website was set up in August 2010 to assist enquirers - www. Emailing is only used at the consideration stage of grants. ccfletchercharitabletru Rejection letters are sent only if a stamped addressed envelope is provided by the applicant or if the application was only narrowly rejected. Email r¢S)nseS may also be made. Correspondence has increased to about a d07£n applications a month. there bcingy an increase in hopefi 4ppliualivn6 from out5idc thc Sou(h W¢si or the trust's corc objectives. Acknowledgem¢nts are sent to those which enLlose a stamped addressed envelope or email address. Aboul 60 rejeclion letters or emails were sent out in November to applications which were closely considered but Uld not be funded. Support is only very rarely given lo individuals, students or non-registered ¢haTities. The trust is not able to arrange auditions for graduate or post-graduate applicants, and they are not encouraged to apply. There continues to be an increasing emphasis on grants to arts bodies which are working with children and young people in th¢ South West. Support is unlikely to be given for areas which a the responsibility of statutory authority fiding. Support is unlikely to be given to purely professional music or arts promotions. Page 3
THE JOYCE FLETCHER CHARABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 21)24 Aehievem¢nt and performvdn¢e of th¢ Trt The distribution of grants took place in the middle of November 2023 to a total of £144.540 (£99,500 in November 2022). Thc trustees decided to continue support to 30 existing recipi¢nts, while making new grants to 17 new recipients. The large grants were £17,000 to Next Stage Theatre Company and £1 0.000 to Welsh National Opera(for Programmes and Engagement projects). Grants were made to 46 charities(43 in 2022) and one chorister parent towards school f$. A notable change this year has been an increase in grants to organtsations Providing support to families with young Children anLVor special educational needs in areas of low income, both nal and urban. There has been a strong demand from Small community theatre companies offering creative educational work in this post-pandemic period. Ther¢ were overlaps between the objectiv¢ categories but the distribution between these was £58.040 £46.000 £34.500 £6,000 400/0 Music and Arts education 32 % Music in a social & thcrdpeutic context 240/0 Children and young F¢ople Other objeLtives The geographical distribution of the 47 grants w8s as follows:. South West 35 National charities 12 The trustees have reviewed th¢ir'l)ublic benefit" responsxbilities and believe that these have been carried out lo the best of their abilities. The amount granted has been the largest in the tr't'S history and Is po&sibly unlikely to be repeated. The overall emph&sis has IKen on the role of the arts(music and theatre for young people) to alleviate stress and encourage creativity and resourcefulness in very difficult times. Thc only cxpcns¢s incurred by the have been those for the annual accounts, the independent examination, banking and the investment mana8emenL All other expenses have been borne personally by the trnstees. Page 4
THE JOYCE FLETCHER CHARrfABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRTL 2024 Financial review, investment policy and reserves Under the ternts of the trust deed the trst¢eS have full and ut)restricted FM)wers of investment. The trustees are satisfied that the trust's assets 8re available and adequat¢ to fulfil its objeciives. The trustees have set an investmenl policy with a medium level of risL The trSleeS have expressed their considerable appreciation ot th¢ services they receive from their investment manager. The bulk of the income is to be distributed each year. though a modest sum been retsined to cover a likely decline in income as a result of the pandemic. The income from investments for th¢ year w&8 £154,874 (£149,157 last year). The rise in grant activity this year occurred partly because some income had been retained from the previous year &8 a precaution. Although th¢ trustees have the power to gift the capital, the investments from capital are the main source of ongoing income, so the fund is invested with the objective that it increases or at least retains its real value in the medium terni. The portfolio is now largely invested in the can0Ve Charity Multi-Asset Fund. to take advantage of recent Se1 value inLre&s¢slrather than income) and for ease of administration. The trustees endeavour to make charttabl¢ distributions and professional payments cach year to UP ihe income in any one year but retain a small percentage in the evenl of a sudden fall in income in a subsequent year, thus protecting obligations to regular recipients. The trust employs Cazenove Capital Management &$ invcslment advisor and manager. Bi-annual meetings are held with them, and contact is maintained between these occasions. They charge a percentage fee of £8,377.74. The trustees have chosen not lo adopt forn ethical investment policies. After grants and opcrdtional expenses of £155.045 (£110.138 last yw), the net defiLit for the year w&$ £171 (net surplus of £39.Ol9 last year). Flowever, after taking account of other gains(losses), theTe was a net incre&se in funds of £177,821. The net incr¢&8e in unrestricted fimds w&s £8,734 (last year there was an increasc of £48,107). At the end of the financial year, reserves were £154,604. The adequacy of the reserves policy is reviewed annually. Future plans During 2023 the trustees made a significant decision that in the next five years th¢ trnsl will move its activities to the north of England. where some of the trustees are resident. the objectives will begin to include sports and children, and also the Environment in the North where the trust h&s its family origins. The l)itherto support for the Arts and young people's welfare in the South West will gradually be wound down. Page 5
THE JOYCE FLETCHER CHARJTABLE TRUST REPORT OF THE TRUSTELS FOR THE YEAR ENDED 5 APRIL 21r24 Statement of Irustee8' responsibilities Charity law requir¢s the trustees to prepare financial statements for each financial year which show a tsve and fair view of the stste of affairs of the charity and its financial activities for that period. In preparing those financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently: make judgements and estimates that are reasonable and prudent" 3. state whether applicable accounting standards and statements of recommended practice hav¢ been followed, subject to any departures disclosed and explained in the financial statements. 4. prepaTe the financial statements on the going concern basis unless it is inapproprtate to Presume that the charity will continue in operational existence. The trustees are responsible for keeping proper accounting records which disclose reasonable accuracy at any time the financial p)sition of the charity and to enable them lo ensure that the ftnancial statem¢nts comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for tsking r¢&8onable steps for the prevention and detection of fraud and other irregularities. Independent Examiner The trust has appreciated the services of its ind¢pendent examiner who also prepares the annual accounts, noting a saving8 in costs as well as a more responsive service than the predeccssors. Signed on behalf of the trustees R A FLETCHER DATE Page 6
. ALJR trusts REPORT OF THE INDEPENDEKf ExAmR TO THE TRUSTEES OF THE JOYCE HTCHER CIL4RITABLE TRUST I report on the accounts of the Tnt for the year ended 5 April 2024. which are set out on pages 8 to 16. Respective responsibilit1¢4 oftrustees and tminer The Charity's trustees are regponsible for the preparation of the a¢unts. The charitys tnjstees consider thRt an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is nwJ¢d. It is my responsibility to: - examine the accounts under section 145 of the Charities ACL to follow the pro¢¢dures laid dowm in the general DiTections given by the Charity Conunission under section 145(SXb) of the Charilies Act" and - to state whether partiLular mattcrs have come to my attention. BasL8 of Independent eAamiDer¥ report My examination was carried out in accordance with thc General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a compari50n of the accounts prcsented with those records. It also includes consideration of any unusual items or disclosures in the accounts. and seeking explanations from you as trustees con¢¢ming at)y such matters. The procedures undertaken do nol provide all the idenCe that would be required in an audil, and consequently no opinion is given as to whether the CoUnts present a 'tru¢ and fair view, and the report is limited to those matters set out in th¢ st8temcnt below. llldepelldeDt examlD¢r8 gtAtsmellt In connection with my examination, no matter has come to my attenllon.. (l ) whÉch giv¢s me reasonable Cause to klieve that tn any material respect the requirements - tn keep aecnuntin8 records in ac¢ordane(t with s¢rtion 130 of th¢ Cliariiir5 and - to prepare accounts which accord with the aKounting COrdS and comply with the accounting requirements of the Charities A¢t have not been met. or (2) to which, in my Opinio anention should be drawn in order to ¢nable a proper understsnding of the aonts to be reached. Name.. Mor8 Jam¢s Rigby Relevant professional qualification or b(ty: A Address: InglenooK 5(V) New Mill Road. Brockhole4 Holmfllth. HD9 7EG. Date: 21st Jun¢ 2024 Page 7
THE JOYCE FLETCHER CHARITABLE TRUST STATKMEwf OF FINANCIAL AcfiviTIKS FOR THE YEAR ENDED 5 APRIL 2024 Unrestricted Endowment Funds Funds Total Funds 2024 Total Funds 2023 Note Ineome alld expendi¢ure Income 4nd EndowmeDts from: Investments Oth¢rs - tax repayment 154,874.09 IS4*74.09 149,157.32 Toial income and endowments 154.874.09 154074.09 149,157.32 ExpeDdlture on: Charitable activities Raising funds -146.140.00 -146,140.00 -8,904.74 -101,050.00 -9,087.59 -8,904.74 Net %alnsl(1058e8) OD Investments: R¢aliscd Unrealised -397.94 178,389.94 -397.94 178J89.94 -280,780.00 Trnnsferd belweell funds: Net movements inf .734.09 169.087.26 177021.35 -241,760.27 Reconclllatlon of hnds Total funds brought fs)Tward 145,869.48 3.308,539.24 3.454,408.72 3,696.168.99 Tolalfvps carrledjorward 154 603.57 3 477 626.50 3 632 230.07 3 454 408.72 The accompanying not¢s forn) an inte1 part of these fjnancial statements. Pag¢ 8
THE JOYCE FLETCHER CHARTTABLE TRusr BALANCE SHEET AT S APRIL 2024 Note 2024 2023 Flxed Assets Investments 3A79.712.iN 3,307.720.00 Totalfthedofsets 3rt79,712.(M) 3,307.720.00 Current assets Bank and deposit balance$ Debtors 154,11&07 148238.72 154.118.07 Current Ilabili¢ieJ Creditors du¢ within one year 148,238.72 12 -ith.(#) .550.00 Ne¢ ¢urreni Lwsets 152J18.07 146,688.72 Nel afsets 3 454 408.72 The funds of the ¢harlty: Unrestricted funds Endowm¥ni funds 13 151603.57 3A77ffi26.50 145.869.48 3,308.539.24 Total charityfunds 3 454 408.72 The financial statements were approved by the tnL*¢s on R A Fletcher S C Sharp W D R Fletcher S P Fletch The accompanying notes fonn an integral part of these fmancial statsments. Page 9
THE JOYCE FLETCHER CHARTfABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 I. PRINCIPAL ACCOUNTING POLICIES Bas15 of prep&r8ti4)D The accounts arc in accordance with applicable accounting standwty The Charities SORP 2015 (FRS 102) and comply with the Chariti¢s (Accounts and ReEM)rts) Regulations i&qued under the Charities Act 2011. The accounts have been prepared on the historical eost convention with the ex¢eption that investments are stated markct value. Income tnvestment income is rccorded Wh Teceivable. Legacy income is recolsed when it Can be measured or e*imated with sufficieni reliability. Expeudilure Expenditure on grants is recorded once the Trust has mad¢ an UnCndItiOnal wmmitment to pay the ant and this is eommunicaled to the neficiary or the grant h&8 i) paid whichever is the earlier. The trust has nol made any grant commitments of more than one year. Other expenditure is included in the 8ccounts on an a¢cruals basis. Irrecoverable VAT is charged to the SOFA as in¢utTed. Any Cosis associated with the sale or purchase of investments are Unted for as part of the sale or purch&5e price of Ihe investments. Investments Quoted investments have been valued at market value At the balance sheet date. Realised and unrealised inVent gains and lo&ses are shown net in the SOFA. 2. TAXATION The Trust 18 a Tegistered eharity and acrdinglY is exempt from taxation on its income and gains where they are applied for charitable purposes. Pag¢ 10
THE JOYCE FLETCHER CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR FNDED 5 APRIL 2024 3. INVESTMENT INCOME 2024 Source of ?nvestment income 2023 Investsnents Cash at bank 14&081J5 6,792.74 154,874.09 146,823.92 2.333.40 149,157.32 4. CHARITABLE ACTMTIES 21n4 2023 GRANTS PAtD.. Art Fund Bath Abbey Music Society Bath Ar¢a Play Project Bath City Farm Bath Festivals Bath Fringe Festival Bath Philhamonia Bath Recital ArtiS, Trust Bath Strings Ae&demy Beckford Tower TnL81 Bluebirds TheAtr¢ Company Changing Tunes Children's Hospice South We City of Trec5 Matthew Col¢ridge(event @ Truro Cathedral) Combat Stress SAM Corkit2("PalimpA•st") Creative Youth Network Dorothy House Hospice Drake Music Drama Exp$5. Cornwall Duke of Edinburgh's Award Edington Music Festival Association English Touring OF¢ra Essex Wildlife Trust Fairfield House Bath CIC First Steps Bath Genesis Trust Great Western Air AmbuIance Charity Rachel Hammond(Exeter Cath Sch Studenl) Holburne Museum 2,000.IN) 5,000.110 3,1IOO.IKI 3,000.00 2,000.00 3.000.00 2,000.00 3,IXKI.00 2,000.00 s,0(.1)0 I,0.00 2,000.00 2.1)00.00 5,000.00 2,000.00 2,000.00 2.(100.00 lo.00 1,500.00 2,(M)O.00 1,000.00 2,000.00 1,5UU.00 2,000. 2,000.00 5,000.00 1,000.00 3,000.00 2,000.00 5,000.00 2.1)00.00 2.000.(M) 5,OIMI.00 3,500.(M) 3,OINLOO 2,000.(KI 5.01)0.00 2.0(M).00 I,ThX).(M) 2,000.00 2,0(K).00 2,0(M).00 I,OIK).00 3.500.00 I,5.0 s(w.00 60W.00 58,000.00 Pagell
THE JOYCE FLETCHER CHARrrABLE TRusr NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 4. CHARITABLE ACTivrfiES {¢ontinlled) 2024 2023 GRANTS PAID (continued) Brought forward 60.00 58,000.00 Hope and Homes for Children Incredible Kids Jessie's Fund Keynsham & District Mencap Society Last Baguette. Malmesbury Magydalen I,'arm String8 Mentorin&T Plus Ltd Mid-somerset Festival Music for Miniatures National Trust(B¢nin8brough) National Youth Orchestra Next Stsge Theatre Company One in a Million Purple Elephant Family SuppoTL Frome Quartcl Community Foundation Re-work ROSL Arts Royal West of England Academy(Happy Mondays) RUH Arts(RUH Charitable Foundation) St George's Bristol Schoolreaders CIO. Devon & Cornwall Soundwell Music Therapy Tru Strile a LighL Gloucester Travelling Light Theatre Comp8ny Up14nds EntorpriNe Trus¢ Swindon Voices for Life Wallace & Gromit Children's Fund Wells City Band Welsh National Opera 23rd Weston-super-Mare(St Paul's) Scout Group Wiltshire MLL5iC Centre Tn]st Ltd 3,000.00 1.500.00 2,0(M).00 2,000.00 2,th).00 2,(M)O.00 2,1100.00 2,500.00 4,(H)O.00 2.500.(H) 2,000.00 2,01)0.00 17,000.(N) 2,(M)O.l)O 2,noo.00 1,500.00 1.500.00 2,000.00 3.000.00 1,500.00 2.000.00 1,000.00 1,000.00 2.000.00 2,(Kl).00 2,040.IK) 2,000.IHJ 2,51)O.iKI 1200.00 2,000.00 2,000.00 lo.00 3,000.00 I,o.U0 3,000.00 1,000.00 2,000.00 1,000.00 8,000.00 3,IKKI.IbO 10,000. sooo. SOOO.(M) 3.000.00 GOVERNANCE COSTS Ac¢ountancy charges Independent examination charges Tax repayment claim ChaTity Commission compliance i44,54{m 99,500.00 I,1.() 380.1MI 1.050.00 380.00 120.(10 120.00 1.550.00 1,6(tt(M) 146,140.00 101.050.00 Page 12
THE JOYCE FLETCHER CHAIUTABLE TRUST NOTES TO THE FINANCIAL STATEME13 FOR THE YEAR ENDED S APRIL 2024 S. RELATED PARTY TRANsAloNs None of the trLLStces were paid any remuneration OT expenses by the charity durtng the ye8r (2023 none). & CHARITABLE EXPENDITifRE The charity did not undertake any activity directly but met its charitable purposes by making grants. 7. COSTS OF RAISING FUNDS 2024 2023 tnvestmenl advisors I mana8ers charges Cazenove 'legal entity identifief charges Caz¢nove debil interest charged Couits bank charg¢8 8J77.74 8.684.59 527.(K) 403.(M) 9 087.59 The charity did not have any staff costs (2023 none). 8. INVESTMF,NTS All inveStmts were held in the UK and listed on a reColSed stk exchan8e: 2024 2023 UK listed Tnvestments Cgryins v4]u¢ (market valu¢) at 6 April 2023 Add: additions at cost Les8.' disposals Adivdeduci.. nel gainl(loss) on Disposals Addldedu¢t'. net gain/(loss) on revaluation Carrytng value (Mark value) ai 5 April 2024 3a07.7ZO.00 3,588.500.00 000.00 -397.94 178J89.94 3,479,712.00 -280,780.00 3.307,720.00 Historical cost 3,566265 3.572,663 Distributions received (wss) Distributions received (net) 14&081J5 146.823.92 14&081.35 146,823.92 Full d¢tail of the investm¢nts and income reIVed are set out on the schcduia attach&J to these accounts. Page 13
THE JOYCE FLETCHER CHARrrABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 9. BANK AND DEPOSIT BALANCES Interest received gross 2024 2023 Coutts & Co Cazenove income Ount Cazenove capits] a¢¢ount 5,433.01 144,442.15 4,242.91 154,118.07 1.500.01 138.568.06 8,170.65 148,238.72 6,792.74 &792.74 10. CONTINGENT ASSETS None ai present. 11. DEBTORS 2024 2023 Income Tax refund Investment Income 0.00 0.00 Page 14
THE JOYCE FLETCHER CHARrrABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2024 12. CREDrroRS 2024 2023 Accountsncy and Indedent examination ch8rges Tax repaymeni claim charge Charity Commission compliance charge 1,480. 1,430.00 120.00 120.00 1550.00 13. FUND ASSETS AND LIABILITIES Unrestricted Funds Endowment Funds Total Funds Fixed Asset Investments Current Ass$ Current Liabilities 3,479.712.00 -2,085.50 3,479.712.00 154,118.07 -1,61)0.00 156.203.57 -1,600.IK) Total 154 603.57 3 477 626.50 3 632 230.07 The unrestricted funds {incom¢) of the charity may be applied for any charitable purposc at th¢ discretion of th¢ trustees. Iuntil 3 April 2008. the trustees had the power to accumulate income and hold the same &5 an accretion to capital.] The expendable endonent (capilal) and additions thereto are invested and the income used for any charitable purpose at the discretion of the tr51$. trh¢ eXndable endowment may also be spent at the absolute discretion of the trustees.] Page 15
THE JOYCE FLETCHER CIL4RftABLE TRUST SCHEDULE TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 I. SCHEDULE OF tNVESTMEKTS AND fNCOME RECEIVED 5Atml 2013 Gross Inet S Awil 2024 surL C22¢twe Chfjrity NURS Fd Charity Mulii-Asset Fwjd 'S' GBP Distributi¢m units 801d 26 J*)uary 2024 A103.9JO -10.931 3.307,T20 37.038.65 37.069.17 37,038.63 36.934.88 178.3 3.479,712 3.566.265 3.307.720 -398 1713 3.479.712 148.0 1.35 Pa8e 16