THE JONES 1986 CHARITABLE TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 TRUSTEES: J D Pears R W Stanley D N Llndley
THE JONES 1986 CHARITABLE TRUST INDEX TO THE FINANCIAL sTATEMErs FOR THE YEAR ENDED 5 APRIL 2024 CONTENTS Page Trustsès, Annual Report 1to4 Audliors, ReFM)rt 5t07 ststement of Flnandal Acfvfties Balance Sheet Ststsment of Cash Flows 10 Not88 11 to19
THE JONES 1986 CHARITABLE TRUST TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 5 APRIL 2024 LEGAL AND ADMINISTRATIVE INFORMATION (a) The name of the Trust is The Jones 1986 Charitsbl8 Trusr. (b) The Trusteés who acted during th6 y6ar were: J D Péars R W Stanley D N Lindley The Trustees jointly hold title to properties owned by the Charitable Trust (c) The Trustees were assisted In administering the Trust by UHY Hacker Young LLP, 14 Park Row, Nottingham, NG16GR. (dl Banker8 National Westminister Bank PIC Noth'ngham, Smrths Bank Branch 16 South Parade Nottingham NG12JX Investment Advlser¥ Rathbones Investment Management Umited 8 Flnsbury arcus London EC2M 7AZ Charles Stsnley & Co. Llmlted Ropermaker Pla 25 Ropemaker Street London EC2Y 9LY Dafferns LLP Reg15tered Audltors Chartered Accountants One Eastwood, Harry Weston Road Blnley Business Park Coventry CV3 2UB Solldtors Keystone Law 48 Chantrry Lane London WC2A IJF Nelsons Pennlne House 8 Stanford Street Nottingham NGI 78Q Charitable No. 327176 Page 1
THE JONES 1986 CHARITABLE TRUST TRUSTEES, ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED S APRIL 2024 REPORT OF ENDED APRIL 2 24 The Trustees psent thelr annual report along with the financial statements of the Charity for the year ended 5 Aprll 2024. The flnancial statements have been prepared In accordan with the accounting policies set out In Note l and compty with the Trust Deed, the Charities Act 2011 and Finanaal Reporting Standard 102 The Finanaal Reporting Stsndard appllcable In the UK and Republlc of Ireland, FRS102 and the charltles SORP 2019 (SORP 2019). STR CTURE GOVERNANCE AND MANAGEMENT The Trust Is an unlncorporated Trust, constituted under a Trust Deed dated 10 April 1986 and is a registered charity, number 327176. The Trust was established by Mr P L Jones. Over the years the Jones family has made substantlal glfts to the Charlty. The Trust does not actively fvndraise and seeks to contlnue the philanthropic work desired by the famlly through careful steward5hlp of Its resources. The power of appointing an additional Trustee or new Trustee or Trustees Is vested in the existing Trustees. The Trustees have the power to vary the Settlement by means of supplementsl deeds. Upon appointment of any Trustee a full bespoke Inductlon presS Is planned In order to ensu complete famlllarlty and understanding of the Trust's objectlves and operation and the roles and responsibilities of the Trustees. The Trustees meet quarterly to agree the overall charity strategy which includes the consideration of grants. During the year the pr¢xesslng and handllng of appllcatlons prlor to conslderatlon by the Trustees was delegated to UHY Hacker Young LLP, 14 Park Row, Nottingham, NG16GR. All Trustees give of their time freely and no Trustee rernuneratlon was pald In the year. Details of Trustees, expenses and related party transactions are disclosed In Notes 16 and 17 of the accounts. ISK MANAGEMENT The Trustees have con51dered the major risk5 to which the Charty Is exposed and have revlewed those rlsks and have estsbllshed prOdureS to manage those rlsks. The Trustees conslder the variability of the investment returns on the expendable endowment to constitute the Charlty's major rlsk, The Trustees monitor this risk wlth its investment advisers. OBJECTIVES AND ACTIVITIES The Charity has very wide charitable objects and purFoses but It Is the Trustees, intention to make grants prlmarlly to organisatlons in Nottlnghamshire. Although the Trustees have absolute discretion as regards thelr grant maklng policyi they restrict grant5 to other charitable organi53tions and do not make grants to indfvlduals. The Trustees confimi that they have referred to the guidance contained in the Charty Commission's general guidance on public benefrt when reviewing the Trust's aims and objectives and In planning future activitle5 and settlng the grant maklng policy for the year. Applications for grants are consldered for both capital andlor revenue projects as long as each projett appears viable. The Trust pays rtain grants quarterly to ast the reclplents, cash flow needs. Although there are no fomTrl agreements, the Trust prefers to develop a relationship with the organisations over an extended peri of tlme. Page 2
THE JONES 1986 CHARrrABLE TRUST TRUSTEES, ANNUAL REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 ACHIEVEMENTS In the year ended 5 Aprll 2024 the Trustees committed grants totalllng £1,113,600 to 69 organlsatlons (2023: £1,116,110 to 74). An analysis of grant5 is set out in Note 4 to the financial *atements. FINANCIAL REVIEW The Trust r1Ved £1,483,212 (2023: £1,392,291) from its investments including £432,109 (2023.. £457,902) from its propty wrtfolio. The fee of the investment advisers is 0.39% of thelr managed funds and the governan costs are 0.19 % of the total assets. The Trustees consider both to be acceptable. INVESTMENT POLICY AND PERFORMANCE It is the policy of the Trustees to retsin capital in the endowment fund In order to generate the income from whlch the grants are made. The Trustees have taIned the Serv1 of Rathbones Investment Management Llmited and Charles Stanley & Co. Umlted throughout the year. The dlsuetionary Fortfollo managed by Flathbones Investment Management Limited Is managed on a balan return bas15 whereas the dlscretlonary portfollo managed by Charles Stsnley & Co. Limlted Is managed on a total return bas15. The Trustees constantly monitor the Investsnent advisers, performan5 agalnst other benchmarks and are sat15fied that the rates of return are acceptsble. The Trustees have retslned £2,403,016 In cash deposlts where the holding is not Subject to the volatility of other markets. RESERVES POLICY The Trustees aim lo maintain free reserves in unrestrlcted funds al 8 prudent level of at least £1,000,000 to enable tham to financ& future applications and the costs of governance for Ihe next twelve months. Th8 actual level of free res8rv9S at 5 Aprll 2024 was £1.385,637 whlch Is In accordanc6 wlth the Trust88s' policy. Th8 lev81 of endowmént fijnds a8 at 5 Aprfl 2024 was £50,011.415 (2023: £46,711,166). The majority of th8 Increase durlng the year was due lo th8 gains on Investmént value of £2,769.40012023 losses: £3,861,655}. FUTURE STRATEGY It is the intention of the Trustees to continue making charttable grants for as long as funds are available. FUNDRAISING STANDARDS The Tnjst does not contract with any thlrd-paty to undertake anyfvndralsing on Its behalf and hence has received no fvndraislng complaints in the year. Page 3
THE JONES 1986 CHARABLE TRUST TRUSTEES, ANNUAL REPORT {CONTINUED) FOR ThE YEAR ENDED 5 APRIL 2024 RESPONSIBILITIES TRUSTEES The Trustees are responsible for preparing the Truslees. Annual Report and the financial slatements in accordance with appllcable law and United llngdom Ac£ount(ng Standards (United Kingdom Generally Accepted Accounting PracJcel. The law applicablè to charilles in England & Wales requires the Trustees to prepare financial statements for each financlal year which givg a true and fair vlew of the state of affairs of the charity and of the incoming resources and application of resources of tho charlty for that pgriod. In preparlng these financlal statéments. the Twstees are requlr8d to: select sultab18 accountlng pollcles and then apply thém consistently., observe th8 m8thods and prlnclples In the Charitl8s SORP 2019 IFRS 102),, mak8 ludgemenls and estlmates that ar8 rèasonable and prudent,, state wh8ther applicable accountlng standards have been followed, sublect to any material departures dlsclosed and explained In the financial slatemgnls., prepare the financial stalernents on the golng concem basls unless111s Inappropriate lo presume that th8 charity will continue in operation. The Trustees are responsible for keeping proper accounting records that disclose wh re8sonable accuracy at any time the ffnanclal position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Gharitles (Accounts and Reports) Regulallons 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taklng r8asonabl& steps for the wevendon and detection of frad and other irregularflie$. J D Pears Trustee R W Stanlèy Trustee D N Llndloy Trustee Page 4
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE JONES 1986 CHARABLE TRUST OPINION ON FINANCIAL STATEMENTS We have audited the financial statements of The Jones 1986 Charitable Trust for the year ended 5 April 2024 which comprise the Statement of Financlal Activities, the Balanc8 Sheet. the Statement of Cashflows and notes to the flnancial statements, induding a summary of significant accounting policies. Thg financial reporting framework that has been applied in th8ir preparation is applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinlon the Ilnancial ststements: glve a true and fair view of the state of the charity's affalrs as at 5 Aprll 2024, and of its incoming resources and application of resources, for the year then ended., have been propedy prepared in accordance wllh Unlled lQngdom Generalty Acc8Pted Accountlng Practlce; have beén pr8par6d in acGordance with the requirements of the Charllles Act 2011. BASIS FOR OPINION We conducted our audll In accordance wlth Inlernatlonal Standards on Audillng {UK) (ISAS {UKII and applicable law. Our responsibilities under those standards are further desttribed in the Auditor's responsibilities for the audlt of the financial statements sectlon of i)ur report. We arg independent of the charity In accordance with the ethical requlrements that are r818v8nl to our avdit of the financlal slat8ments In the UK. Includlng the FRC's Ethical Standard, and we hav8 fulfllled our other ethlcal responslbllities in accordance Wlth these requirements. We believe that the audll evidence we have obtained is sufficlent and appropriate lo provide a basls for our opinlon. CONCLUSIONS RELATING TO GOING CONCERN In audltlng the flnanclal statements, we have concluded that the Trustees'8 use of the golng concern basls of accounting in the preparation of the financial stalements is approprlate. Bas8d on th8 work we have performed. we have not Identlfled any matérial uncertainties relallng to events or condillons that, individually or collectively, may cast signlficant doubt on the char6ty'$ ability to contlnue as a golng concern for a p8riod of at least e1ve months from when th8 financial stat8mgnts are aulhorlsed for Issue. Our responsibllities and the responsibilities of the Trustees wlth respect to golng concem are described in the relevant sections of thls report. OTHER INFORMATION The other informatlon comprises th8 informatlon Included In the Trustees, annual reporL olh8r than the flnancial Statements and our auditor's report th8reon. The Tnjstees are responsible for the other informallon contalned within thg annual report. Our opinlon on Ihe financial statements does not cover the olher information and, except to the extent otherwlse explicitly stated In our report, we do not express any form of assurance concluslon th8reon. Our responsibility is to read the other information and, In dolng so, conslder whether the other informatlon is materially inconsistent wlth the financial statements or our knowledge obtained in the course of tho audit or otherwise appears to be materially misstated. If we identify such matertal inconstenC1eS or apparent material misstatements. we are required to determine whether this glves rise to a material misstatement in the financial statements themselves. If. based on the work we have performed, we condude that ther8 is a material misstatement of thls other information, we are required to report that fact. We have nothing to report In this rggard. Page 5
REPORT OF THE INDEPENDEKf AUDITORS TO THE TRUSTEES OF THE JONES 1986 CHARITABLE TRUST MAThERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION We have nothlng to report in respect of the followng Matters in relatton to which the Charllles {Accounts and Reports) Regulations 2008 require us to repOt lo you rf. in our opinion: the information glven in the financial statsments is Inconsistent In any material respect with the ffnanclal statements., or suffici8nt accounting records have not been kept. or the finanaal statements are not In agreement with the 8ccounting records and returns,. or we have not r8c8ived all the Information and 8xplanalians we requlre for our audit. RESPONSIBILITIES OF TRUSTEE8 As explaln8d more fully In th8 Trus188s' Responsibilities Statement, set out on pag8 4, the Trust88s are responslble for the preparation of financial slal8m6nls whlch give a true and fair view, and for such internal control as thé Trustees determlne Is necessary to enable thé préparation of financial statements thal ar8 fr88 from rrsat8rial misstatement, whether due to fraud or 8rror. In preparfng the flnancial statements. the Trustees are responslble for assesslng the charlty's ability to ¢onlinue es a golng concern, discloslng. as applicable, matters related to going concern and using the going concern basis of accounting unless the Truslegs 8lth8r Intend lo liquidate the charity or to cease operations, or have no reallslic 8lternatlve but to do so. AUDITOR'S RESPONSIBILITIES FOR THE AUDIT OF ThE FINANCIAL STATEMENTS We have been appoint8d as auditor under section 144 of the Charlties Act 2011 and report Sn accordance ¥Mth regulations made under section 154 of that Art. Our objectives are to obtaln r8asonable assurance about whether the financlal slat8m8nls as a whole ar8 free from material mlsstatement, whether dug to fraud or error, and to Issue an auditor's report that includes our oplnion. Reasonable a$suranc8 Is a high level of assurance, but Is not a guarantee that an audlt conducted in ac¢ordan¢e with ISAS (UK) wlll always d8t8cl a material misstsl8ment when it exlsts, Mlsstalements can arlse from fraud or error and are consldered material If, indlvldually or in the aggregate, they could roasonably b8 expècted to Influence the economiG d8clsions of users tsken on the ba8ls of these financial statements. Irregularities, induding fraud. are instances of non-oompliance wlth laws and regulallons. We design procedures In Ilne wllh our responsibilities, outlined above, to detect material misstatements in respect of irregularitl8S, Includlng fraud. The specific procedures for this engagement and the extgnl to which these are capable of delectlng Irregularities, including fraud is detailed below.. Enqulry of management, those charged w((h governance around acknal and potendal If(igation and clalms,. Enqulry of Trust8es and Clerk lo identify any Instances of non-compliance with laws and regulatM)ns' Reviewng minutes of meetings ofthose charged wlth govemance; Reviewing financial statement disclosures and testlng to SUPF)orkng dcrumentation 10 8sses8 compliance th applicable laws and regulations. Perfomiing audit work over the risk of management overr(d8 of controls, including testing ofjournal entrles and other adjustments for approprlaleness, evaluating the sInesS rationale of SnifiCant transacfjons outside the normal course of business and reviewing accounting estimates for bias. Because of the inherent IlmllatSons of an audit, there Is a risk that we will not detect 811 Irregularitl8s. Including thos8 leading to a malerlal mlsstatement in the financial statements or non-compliance with regulation. This risk Increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial staternents, as w9 will be less likely to become aware of instances of non-compliance. The risk is also greater regarding IrgUraritieS occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion. omission or misrepre8entation. Page 6
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE JONES 1986 CHARrrABLE TRUST A further description of our responsibilitles for the audit of the financial statements is located on the Finanaal Reporting Council's website at= Mvw.frc.org.ukJaudi*orsr8sFx)nsibiltties. Thls de5CriPtion forms part of our audilorfs reporL USE OF OUR REPORT This repcwt Is made so181y to the chaity's Trustees, as a body, in aCCdanCe with Part 4 of the Charltles (Account5 and Reports) Regulations 2008. Our audit work has been undertaken so that we might slate to the charity's Trustees those matters we ar8 required to slate to them In an auditor's report and for no other pijrpose. To the fullest extent permltted by law, we do not accept or assume responsibility to anyone other than the charity and the charlty's Trustees as a body, for our audlt work, for this repo¢ or for the oplnlons we hav8 formed. J• LLR Daff•m8 LLP statutory Audltors One EaSoOd Harry Wéston Road Blnley Business Park Coventry CV3 2UB Dat8.' Daffems LLP is eligible to acl as an auditor in terms of Section 1212 of the Companles Act 20C6. Page 7
THE JONES 1986 CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2024 Unrestricted Expendable Income Endowment 2024 2023 Total Note INCOME AND ENDOWMENTS FROM: Investments 1,483,212 1,483,212 1,392,291 TOTAL INCOME AND ENDOWMENTS 1,483,212 1,483,212 1,392,291 EXPENDITURE ON: Raislng Funds Investment Management Costs Property Expenses 84,151 106,811 84,151 188.302 106.811 165.618 76.832 190,962 84,151 275,113 242,450 Charltable Acllvlt1es Charltable Grants 1.113,600 1,113,600 1,116,110 Cost of Grant Maklng Grant related support costs 100,580 100,580 112,881 1,214.180 1,214,180 1,228,991 TOTAL EXPENDITURE 1,405,142 84,151 1,489,293 1,471,441 ET INCOME I EXPENDITURE EFORE OTHER RECO Nl ED GAINS AND LOSSES 78,070 184,1511 16,0811 179,150) OTHER RECOGNISED GAINS AND LOSSES Unrealis9d Gainl IL0551 on Revaluation of Property Re81ised Gainl (Lossl on Sale of Propety Realised Gainl {Lossl on Investment Assèts Unreallsed Galnl (Lossl on Investmént Assèts 615,000 615,000 (176,3541 1176,354111,077,327) 2,945,754 2,945,754 12,784,328) 3,384,400 3,384,400 13,861,655} NET MOVEMEN FUNDS 78,070 3,300,249 3,378,319 13,940.805} ECONCILIATION OF FUNDS Total Funds Brought Forward 1,307.567 46.711,166 48,018,733 51,959,538 Total Funds Carried Forward 1,385,637 50,011,415 51,397,052 48,018,733 The statement of flnancial activities includes all gains and losses in the year. All incoming resources and resources expended dedve from continuing activitl85. The notes on pages 11 to 19 fomi part of these finandal statements Page 8
THE JONES 1986 CHARITABLE TRUST BALANCE SHEET AS AT 5 APRIL 2024 2024 2023 Note FIXED ASSErs Investments Investment Properties Tangible Fixed Assets 43.045.743 6,820.000 40.448.142 6,205,000 Totsl Fixed Assets 49.865,743 46,653,142 CURRENT ASSErs Debtors Cash at bank and in hand 208,089 2,518,496 207,233 2,152,890 10 Total Current Assets 2,726,585 2,360,123 CREDITORS Amounts falling due %Mthln one year 11 (945.2781 (704,177) NET CURREiif ASSErs 1,781,309 1,655.946 TOTAL ASSETS LESS CURRENT LIABILrriES 51,647,052 48,309,088 CREDITORS Amounts falling dua 8fter more than one y8ar {250,000) (290,3551 NEf ASSETS 51,397,052 48,018,733 FUNDS Expendable Endowment Unrestrict8d Income 13 13 50.011,415 1,385,837 46,711.166 1,307,567 TOTAL CHARfpf FUNDS 51,397,052 48,018,733 The Flnandal Statements have been prepared In accordance with the Accounllng and Reporting by CharltJes.' Statement of Recommended Pracllce applicable to charitles preparing thelr accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland {FRS1021 (issued In October 20191 (Charities SORP (FRS102IJ, the Financlal Reportlr#J Stsndard applicable In the UK and Republic of Ireland {FRS1021 and the C sAc12011. Approved by the boa dofT s1665 on . nd slgned on its behalf by: Trustee- J D Pears Trustee- R W Stan Trustee- D Indley notes on pag85 11 to 19 form part of these finandal ststements Page 9
THE JONES 1986 CHARITABLE TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED S APRIL 2024 2024 2023 CASH FLOW FROM OPERATING ACTIVITIES Nel Incomel(Expendltur8) for year las per SOFA) Adjustment for.. Oivid6nds, interest and rents from invgslments Depreualion charg8 for year Ilncreasel I d8crease In dabtors Increase l {de¢reasel In cr8dltors {6.081 } 179,1501 (1.483,2121 11,392,291) 18561 200,744 72,667 (210,1681 Net cash provtded {forl I by operatlng act5vlll8S (1,289,405) 11,608,942) CASH FLOW FROM INVESTIN Sale of Inveslm8nts Dlvidends, Int8r8St and rents from inve81m8nts Purohase of investments VITIE 10,447,441 1,492,555 111.188,262) 11,421.496 1,392,291 (9,916,043) NEf CASH FLOWS FROM INVESTING ACTIVITIES 751,734 2,897,7 CHANGE IN CASH AND CASH E UIVALENTS {537,671) 1,288.802 Cash and c8sh equivalents brought forward 3,613,250 2,324,448 CASH AND CASH E CARRIED FORWARD UIVALENTS 10 3,075,579 3,613,250 Anal sls of chan 8s In net debt: 5 Aprll 2023 Cashflows 5 April 2024 Cash and cash 8quivalents 3,613,250 1537,671 } 3,075,579 The notes on pages 11 to 19 form part of these financial slat8ments Page 10
THE JONES 1986 CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 CCOUNTING POLICIES The following accountlng policies h8ve been applied conslstently in dealing with items which are considered material in relation lo the Charills flnandal statements. a) Goneral Infonnation and basss of Preparatlon The Jones 1986 Charftable Trust is an unlncorporaled Charity In Englandlwales. Th8 address of the office Is glven in the charity informatlon on page 1 part {cl, of these financial statements. The natur8 of the charity's operations and principal activitl8s are to make grants to organisalions. The Charity ¢onstltut88 8 public beneflt èntity as d8fln8d by FRS 102, The flnancl81 statements have begn prepared In accordance with Accounting and Reportlng by Charltles: Statement of Recommended Practice applicable lo charlttes preparlng their accounts in accordance with the Financlal Reporllng Standard applicabl8 In the UK and Republic of Ireland (FRS 1021 issued In October 2019, the Flnancial Reporting Standard applicable in the Unlted Kingdom and Republic of Ireland {FRS 1021. the Charlties Act 2011 and UK Generally Accepted Accounllng Practlc8. The flnanclal statements hav8 been prepared to give a 'lru8 8nd falr, vlew and have departed from the Charltles l Accounts and Reports) Regulations 2008 only to the exlenl required to provide 'true and fair, view. This departur8 has Involved followlng the Accounting and Reporting by Charities.. Statement of Recommended Practice appllcable to Gharities preparlng their accounts in accordance with the Flnanclal R8POrting Slandard appllcable In the UK and Republlc ol Ireland (FRS 1021 Issued In October 2019 r8ther than the Accounllng and R8POrtlng by Charltles.. ststement of Recommended PractlC8 effectlve from 1 April 2005 whlch has since been withdrawn. Th8 financlal statements are prepared on a golng concem basis under the historical cost convenuon, modified lo include certaln Items al falr value. The financial slatem8nts are piepar8d In sterling which Is the funcllonal currency of th9 Trust and rounded to the nearest £1. The slgniflcant accountlng pollcles applied in the preparation of these flnanclal slat8mants are set out below. These policies have been consistently applled to all years pr8sented unl8ss otherwlse staled. b) Funds As the Trustees have the power to distrlbut8 both income and capltal, the funds of th8 Trust are all unrestricted and comprise: Expendable Endowm8nt Fund The fund comprises c8Pltal investments and property transfèrred lo the Charlty together wlth any gains and losses relalad thereto. UnrestrlGted Income Fund The Income fund represents Investment and other in¢ome less expenditure and grants made. c) Investments Investment assets are stated at fair valug being market value at the Balance Sheet dale. Reallsed and unr6alis8d gains and losses are induded in the ststement of flnancial activittes. d) Income Recognltion Income from investments is included in the accounling perlod In which il is due and rec8ivable, and is gross of any Income Tax r8coverable. Page 11
THE JONES 1986 CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 ACCOUNTING POLIC ES Expendlture Liabilities are recognlsed as resources exFend8d as soon as there is a legal or constructive obligation commlttlng the charity lo the expenditure. Expenditur8 is recorded on the accruals b8sls. Th8 cost of Irrecoverable Value Add8d Tax Is included with the 8xp8nse item lo which il relates. The management and admlnlstratlon expenses are those Incurred In connectlon with administratlon of the charity and compllance wSth conslitulional and statutory r8qulr8ments. Grant8 Grants ar8 record8d in th8 accounts when they are approved and, if payable after the date of the acctyjnls, ar8 Included in creditors. gl Invostment Prop•rtles Investment property 18 included al market value and accordlngly no depreclatlon Is charg8d. Debtor$ and ¢redltor8 recelvablelpayable wlthln one yaar Debtors and creditors wlth no staled inlgr8St rate and recelvable or payable thIn one year are recorded at tr8nsacdon pilce. Any losses arislng from impalrment are reco>Jnised in expendllure. Golng Concem The flnancial statements have been prepared on a going concern basls as the Trus198s belleve that no material uncertaintl8S 8xlsl. The Trustees have considered the level of funds held and the expecl8d level of Income and expenditure for 12 months from authorising these flnanclal statements. The budgeted Income and expenditure is sufficlent with the lev81 of reserves for the chartly to be able to conllnu8 as a going concern. J) Taxatlon The oharily carrfes out acllvltles whlch are exempt from corporation tax and Income tax. NVESTMENT INCOM 024 2023 Property Income Income from Quotsd Securldes Int8rest on Cash Deposlls 432,109 991,935 59,168 457,902 912.910 21,479 1.483,212 1,392,291 Investment Income relatss sol8ty to thè Unrestricted Income Fund in the current Bnd precedlng year. Page 12
THE JONES 1986 CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 PROPERTY EXPENDITURE 2024 2023 Light Heat. Rates and Water Insuranc8 and Security Professional Fees and Advertising S8fviG8 charges Refurbishment 21,638 15.698 38.027 23,492 7,9 8,837 31,167 28,338 106,811 76,832 Investment propety expenses r8lat8 sol8W to th8 Unrestrided Income Fund in the currènt and predira CHARITABLE GRANTS 2024 Welfare of the Elderly Giyjd Companions Handmade Theatre Radford C8re Group Trinity Methodist Church Dementia UK 3,700 3,500 25,000 8,000 10,000 50,200 Phy8lcal Health & Handlcap Notbngham Multiple Sd8rosi8 Th8rapy Centre Limited Vibrant Warsop CIC Nottinghamshire Royal Society for the Blind ITIA'MY Sight Nottinghamshire,) The Lenton Centre Frozen Light Headway Nottingham Riding for Smiles Autistic Nottingham Care after Combat 10,000 7,000 15,000 4,300 Medlcal Beaumont Housè Community Hospice MultiFde System Atrophy Trust Orthid Cancer Appeal London Hearts PASIC Reach Leaming Disability Lincs & Nott5 Air Ambulance ILNA4) Disability Support 25,OYJ 2,000 4,500 16,CXX) 5,500 500,000 2,500 556,500 Page 13
THE JONES 1986 CHARrfABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 CHARITABLE GRANTS CONT... 2024 Welfare of the Young Positively Empowered Kids CIC The Wolfpack Project Whiz2 lQdz Children's Bereavement Centre Homestart Mansfield Counselling and Support for Young People {CASY) Home & Dry 10,CKJO 38,800 Communlty Support Trent Bridge Community Trust The Gr88nw8y Centre Wild Things Ecological Education Collective Arkwright M8adows Community Gardens Breaking Barriers Building Bridges Pintsize Theatre Ltd Willow Community Fnends of the Cromft)rd Canal Trent Compassion Trust N8wark & Sherwood CVS The Vine Community Centre 25.C( 8,5CXJ 20,C( 3,000 4,800 5,600 5,000 3.000 3.000 15,000 4.000 94,b)JO Youth Organl8atlon• Transfom) Training Brightar FLrtur8s Through Sport Focus on Young People in Bass8tlaw The Inspire and Athieve Foundation YMCA Newark and Sherwood 19,500 Educatlonal RISE Learning Zone CIC The Zone Youth Project Belvoir Cricket & Countryslde Trust Portland College 100,OCK) 108,5C Rellef of Poverty Groun1]Ork Fivè Counties {Fomierty Groundwork Greater Noth'nghaml The Furniture Projecl Nottinghamshire BeSoOd and Bulwell Foodbank Hope Church Nottingham Rene House CIC Sharewear Clothing Scheme The Friary Dropln BroxtOW8 Communty Projects {BCP} 10,C 15.C 4,500 30,C 9,000 3,000 5,000 5,000 Page 14
THE JONES 1986 CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 CHARrrABLE GRANTS CONT... 024 Relief of Poverty (Contlnuedl Open Homes Nottingham The Renewal Trust Transforming Notts Together (TNT) People's Dispensary for Sick Anlmals (PDSA) The Social Action Hub Nottingham and Nottinghamshlre R8fug88 Forum Nottlngham Arimathea Trust 10,000 12,500 5.000 1,000 25,000 15,000 3.900 153,9 Mlscellaneous Nottirohamshlre Wlldllfè Trust Remar Assoclatlon UK Broxtowe Womens Project Support Through Court Hetys 5,000 5,000 10,000 5,000 9.500 34,500 1,113,61)0 SUPPORT COSTS INCLUDING GOVERNANCE COSTS 2024 2023 Legal Fe88 Admlnlstralion, Accountancy and Taxation Fees Audit F88 rr software and 5UPPOrt Insurance Investment advic8 Sundries 19,871 62,560 5,590 3,311 4,629 4,425 194 24,481 69,893 5,400 8.363 4,$64 100,580 112,881 INVESTMEKrs 2024 Market Value at 6 April 2023 AddlonS DisFy)sals Equalisation Income Reallsed and Unrealised losses 38,987.782 11.188.262 (10,447,441) {9,343} 2.769.400 Market Value at 5 April 2024 42,488,660 Cash held for Investment Purposes 557,083 Total 43,045,743 Page 15
THE JONES 1986 CHARrrABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 INVESTMENTS CONT.., Analysls of Investment5 Quoted Investments Bonds Equities Ajternatlve Investments Propety 02 202 8,615,199 8,435,066 29.760,965 24,940.171 3,934,787 5,224.585 177,709 387,960 42,488,660 38,987,782 Cash held for Investment Purposes 557,083 1,460,360 43.045.743 40,448,142 The hlstorical cost of Investments at 5 Aprll 2024 was £39,010,663 INVESTMENT PROPERTIES 202 At Cost or Valuatlan As at 6 April 2023 Revaluation Dlsposals 6,205,000 615,000 As at 5 Aprll 2024 6,820,000 The hlstorlcal cost of Investm&nt propertles at 5 Aprll 2024 was £5,426,737. The Trustees hav8 assessed th8 markel valu6 as at 5 Aprll 2024. The Trustees have updated the valuation perfomied by R.G. Sutton, BSC, MRICS, of NG Charter&d Surveyors a8 at 5 Ap1 2021. Th& 2021 valuatlon Was undertaken in accordance wlth th8 RICS Red B¢X)k Global. TANGIBLE FIXED AssErs Cost At 06 Aprtl 2023 1,502 At 05 Aprfl 2024 1,502 Depreclatlon At 06 April 2023 1,502 At 05 April 2024 1,502 Not Book Value At 05 April 2024 At 06 April 2023 Page 16
THE JONES 1986 CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 DEBTORS 2024 2023 Rents Receivable Other Debtors 187.174 20.915 195,114 12,119 208,089 207,233 10. CASH BALANCES 202 2023 Cash at Bank Cash Held by Investment Advisors 2,403,016 115,480 2,C66,799 86,091 2,518,496 2,152,890 Analysls Of Cash And Cash Equlvalents Cash held for inveslment purposes Cash at bank and in hand 557,083 2,518,498 1,460,0 2,152,890 3,075,579 3,613,250 11. CREDITORS Amounts f811ing du8 Within one year Trade creditors VAT Grants Commthd Deferred Income Accruals Deposit Repayable servi Charge 2024 2023 49,190 9.481 711.962 84,790 59,122 50,731 42,955 12,514 462,107 74.747 56.985 50.731 4,138 945,276 704,177 Amounts falling due 8ft8r more than one year Grants Committed 250,000 290,355 Deferred irwrne relatss to propety ino)m8 received in advance. Under 1 year Over 1 year Totsl At 6 April 2023 Addits"ons in year l¥mounts released to income 74,747 3,634 (13,5911 74.747 (13,591) At 5 April 2024 64,790 64,7 Page 17
THE JONES 1986 CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 12. OPERATING LEASE COMMITMENTS LESSOR The charity leases out the investment properties under rnanlIable operating leases for the following fvture minimum lease payments. There are no corrtingent rents.. 2023 Wrthin one year Beeen one and five years In ovèr fiv8 years 306,906 844.289 403,829 352.508 8,882 537,936 1,555,024 1,787,326 13. ANALYSIS OF NEf ASSETS BETWEEN FUNDS Unrestricted Expendabl8 Income Endowment Totsl Funds Inv88tment Assets Current Assets Creditors 49,865,743 49,865,743 167,434 2.726,585 (21,762) (1,195,276) 2,559,151 {1,173,5141 Net A880ts at 5 Aprfl 2024 1,385,637 50,011,415 51,397,052 14. GRANT COMMITMENT RECONCILIATION 2Q24 2023 Commitsnt at the stsrt of the year Payable in less than one year (Note 11) Payable in more than one year {Note 11) 462,1Q7 290,355 683,490 273,250 752,4e2 956,740 Grants cornrnitted during the year (Note 4) Grants paid during the year 1,113,6QO 1,118,110 {9J4,100} (1,320,388) 961,%2 752,482 Commitrnenl at the end ofthe yegr Payable in less than one year {Note 11) Payable in more than one year (Note 11) 711,982 250,0 462,107 290,355 961,962 752,462 15. STAFF COSTS The Charity netther 8mploys any staff nor pays ary ren( rates or other similar outgoings or overheads. the Trustees being of the opinion that all ne¢e55ary Services are mcffe efficiently provided as when requi by outside service providers. Pag8 18
THE JONES 1986 CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 5 APRIL 2024 16. TRUSTEES, REMUNERATION AND EXPENSES No remuneration direc* or indirectly out of the funds of th8 Charty was paid or payable for the year to any Trustee or to any person known to be connected with any of them other than as mentioned in Note 17. Consequently, totsl remuneration of key management personnel is nil. No disbursèment of éxpènses has beén made or is due to be made to any of the Trust88s in respect ofthe yéar, othér than as mèntionéd in Note 17. 17. RELATED PARTY TRANSACTIO Mr J D Pears was a consultant in Keystone Law during the year. Keystone Law charged the Charitable Trust 8 total of £20,576 (2023. £27,524) during the year in respect of legal fees and administralson and support costs. A creditor of £nil (2023: £ nil) was outstanding at the year end. Mr R W Stanley was a partner in UHY Hacker Young LLP durlng the year. UHY Hacker Young LLP charged Ihe Charitable Trust a total of £45,802 {2023.' £41,118) during th8 year in respect of administration, aruntancy, tsxabon servlces and Investment review. A creditor of £13,326 12023.. £18,600) was outstsnding at the year end. Mr D N Lindley charged the Charitable Trust a total of £13,081 (2023.. £12.083} during the year in resFect of accountancy and administration and support costs. In addition. Mr D N Lindley received £114 (2023: £154) for reimbursed expenses. A credrtor of£nil {2023'. £1) was outstanding at the year end. Page 19