JOHN JAMES CHARITABLE TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Registered number: 328359 JOHN JAMES CHARITABLE TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 CONTENTS Page Trustees, report Independent examiner's report Statement of assets and liabilities Receipts and payments account Notes to the accounts JOHN JAMES CHARITABLE TRUST TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2024 Charity Number.. 328359 Trustees.. GWReid PJReid RPDunn CGPate Principal Off ice: 6 Mina Road Wimbledon London SW19 3AU Bankers: CAF Bank Ltd 25 Kings Hill Avenue Kings Hill Wesl Malling Kent ME19 4JQ Independent Examiner: Jacob Cavenagh & Skeet 5 Robin Hood Lane Sutton Surrey SM12SW Investment Manager: LGT Wealth Management UK LLP 14 Cornhill London EC3V 3NR Objectives and activities To promote the advancement of education in the Christian religion amongst children and young people. To advance the Christian f81th by providing grants to those undertaking Iraining for a specific ministry. To relieve poverty, advance religion, promote education and do anything charitable for the benefit of the community. The Charity has pursued its objects in the past year in the following ways.. by making grants to individuals and organisations to allow people to be trained in different areas of Christian ministry., by making grants to organisalions working with children and young people, running schools programmes and youth clubs providing a place of support, activities and relaxation as well as an environment where the Christian faith is ex plained; and making grants to parish churches and other organisations in deprived areas to support pastoral and support work amongst families in the context of which there is opportunity for individuals to explofe the Christian faith. JOHN JAMES CHARITABLE TRUST TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2024 {continued) The trustees have complied with their duty under section 17(5) of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission when performing their role and duties. The extsting trustees are responsible for recruiting and training new trustees as and when required. The governing document of the unincorporated charity is its trust deed, dated 13 September 1989. How our activities deliver public benefit Training in ministry develops those who undertake the training as well as equipping them to serve communities in a variety of ways, including providing instruction in the Christian faith, pastoral care and counselling. The activities run by the organisations which receive grants (many of which operate in deprived areas) are open to all families, children and young people in the schools or communities in which they are carried on, providing an opportunity for fun and enjoyment, personal care and support and to receive instruction in the Chrisb'an faith. The individuals and organisations who receive grants provide regular feedback on their activities so that the Charity can be satisfied that those acts'vities continue to be in line with the Charity's objects. Review of the year As anticipated in the Trustees. Report for the year ending 31 March 2023, the voluntary liquidation of FTL Holdings Limited rthe Company.) was completed and the charity received assets (in cash and in specie) equivalent to the value of its shareholding in Ihe Company. As a result all of the charity's funds are now held in an investment portfolio managed by LGT Wealth Management UK LLP. The conclusion of the liquidation process meant that the Trustees were able to begin implementation of the strategy agreed in March 2022 (in anticipation of the liquidation of the Company). This strategy involves ongoing grants to a range of individuals and organisations but also the establishment of a limited number of key partnerships where substantially larger grants are paid to support specific projects. Two such partnerships were established in the year under review and are ongoing. The Trustees continue to investigate opportunities for other such partnerships. Since the end of the year under review the Trustees have developed their strategy further and have decided to provide support for those in training through bursary funds to a number of selected training organisations rather than by way of grants to individual applicants as previously. The Trustees believe this will be a more effective means of ensuring that funds reach those in greatest need of support since the various training organisations will determine the allocation of funds and they are better placed than the charity to make such determination. The Trustees will continue to review and develop the grant-making strategy and ensure effective use of the charity resources for its charitable purposes. Grant payments of £265,530 (2023.. £137,935) were made during the year. The statement of assets and liabilities now shows net assets of £1,386,168 {2023- £1 $4,496). Investment policy As noted above, the charity's funds are held in an investment portfolio managed by LGT Wealth Management. LGT'S mandate is to seek to grow the capital value of the fund as the Trustees have determined it is appropriate to expand both capital and income to allow the charity to respond positively to applications for funding which meet the charity's charitable objects. JOHN JAMES CHARITABLE TRUST TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2024 Icontinued) Reserves policy Following the members, voluntary liquidation of FTL Holdings Limited in 2023, the Trust received a substantial capital sum representing the value of ils shares in the company. In the future, the resources available to the Trust will be that capital sum together with the income generated by it through investments, which are managed on the Trust's behalf by LGT Wealth. The Trust will always hold in reserve (i) sufficient funds to cover all grant commitments made for future years., (li) such surrts as the Trustees consider appropriate to meet the Trust's proper operating expenses each year and (iii) such sums as the Trustees consider reasonable to meet any applications for urgent funding which may be received from time to time. ved on If of the trustees on 5 December 2024. Trustee JOHN JAMES CHARITABLE TRUST INDEPENDENT EXAMINERS REPORT FOR THE YEAR ENDED 31 MARCH 2024 I report to the trustees on my examinab'on of the accounts of the John James Charitable Trust (the Charity) for the year ended 31 March 2024. Responsibilities and basis of report As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (Ihe Act). I report in respect of my examination of your charity's accounts as carried out under section 145 of the Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent examiner's statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the Charity as required by section 130 of the Act; or 2. the accounts do not accord with those records. 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. Miriam Hickson CTA FCA Jacob Cavenagh & Skeet 5 Robin Hood Lane Sutton Surrey SM12SW Data.. 4 20 2 LF JOHN JAMES CHARITABLE TRUST STATEMENT OF ASSETS AND LIABILITIES AS AT 31 MARCH 2024 2024 2023 Cash funds 172,552 64,925 Investments at valuation COIF fixed interest fund Listed investments 11,776 1799,110 11,276 367,318 1810,886 378.594 Unrestricted funds held 1,983,438 443,519 Other assetslliabilities Debtors Tax refund due 347 Creditors Granls committed Creditors Accrua (595,170) P87,590) (1,120) {660) (2,100) Total assets less liabilities 1,386,168 154,496 All funds held are unrestricted. IL Approved on behalf of the trustees on S December 2024 eid Trustee JOHN JAMES CHARITABLE TRUST RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Recei Incomefrom investments: Interest received CAF account 452 535 Dividends and unit trust income rKeived COIF fixed Interest shares FTL HOld￿ngS Ltd Listed investment income 263 308 39,143 3.821 18,102 Other Income: Tax refund Receipt received in error 349 145 Gro55 income 19,166 43,662 Investment sales proceeds 211.718 99.444 Llquldation proceeds 1,087,672 Total receipts 1,318,556 143,106 ments Grants and donatlons pald: Children & Youth Organisalions Support for Full Time Training Voluntary Organisationslother 131,770 93,760 40 000 43,465 80,320 265,530 137,935 Support COSts.' Investment managemènt fee8 IndeFendent examinei's fee Bank charges Website and computer costs Administration expenses 6.827 1.350 60 250 72 184 Gross expendlture 276,372 140,199 Purchase of Investments 934,557 89,182 Total payments 1,210.929 229.381 Net receiptsl(payments) 107,627 186.2751 Cash funds brought forward 64,925 151,200 Cash funds carried forward 172,552 64.925 JOHN JAMES CHARITABLE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 1 Investments Donated investments The investment held in FTL Holdings Ltd was donated to the Trust. At the time of the donation the market value was not readily available. It was liquidated during the year ended 31 March 2024. Investments cost 2024 2023 COIF fixed interest shares 11,000 11,000 Listed investments 1,664,682 307,977 1,675,682 318,977 2 Commitments Before the year end, the charity had entered into the following commitments to pay specific grants under the trust objects over the next four years: Commitments al 31 March 2023 New grants award in the year Amounts paid in the year Commitments at 31 March 2024 Object 4 (A) Support of Children & Youth Organisations Object 4 (B) Support for Full Time Training Object4 (D) Support of Voluntary Organisations 179,970 137,950 (131,770) 186,150 76,620 389,960 (93,760) 372,820 31,000 45,200 (40,000) 36,200 287,590 573,110 (265,530) 595,170 Further commitments totalling £92,500 (2023.. £95.400) have been entered into since the year end date. JOHN JAMES CHARITABLE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 20241continued Accounting policies The accounts of the Trust are prepared on a receipts and payments basis. Both the current and previous accounting periods covered ￿e1ve months. Grnnts paid in the year 2024 2023 Object 4 (A} Support of Children & Youth Organisations Object 4 (B} Support for Full Time Training 131,770 43,465 93.760 80,320 Object 4 (D) Support of Voluntary Organisations 40,000 14,150 265,530 137,935 2024 Number 2023 Number Object 4 IA) Support of Children & Youth Organisations Object 4 (Bl Support for Full Time Training Object 4 (D) Support of Voluntary Organisations 26 19 45 14 85 70 Of the grants paid in the year, 26 Itotaling £131,530) were paid to institutions (being churches, other charities or training establishments) with the balance paid to individuals. The average grant paid to an institution was £4,698. JOHN JAMES CHARITABLE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 Icontinued) Grants paid in the year (continued) Grants considered to be material were paid to the following institutions.. 2024 2023 Inspire Football 30,000 CrossTeach 25,000 8,000 Church Army 13,000 Living Word International 8,000 Kids Alive I nternational 6,000 South West Youth Ministries 6,000 Pathway 5,600 Hidden Treasure Trust 5.070 St Cuthbert's Church, Wood Green 5,000 5,000 Grants < £5,000 27,860 45,675 131,530 58,675 All of the charity's support costs relate to grant-making activities.