The Johnson Foundation (a company limited by guarantee)
Trustees’ Report and Financial Statements Registered number 02109197 Registered charity number 518660
31 March 2025
The Johnson Foundation (a company limited by guarantee) Trustees’ report and financial statements 31 March 2025
| Contents | Page(s) |
|---|---|
| Trustees’ report | 1-6 |
| Audit Report | 7-9 |
| Statement offinancial activity (including income and expenditure account) | 10 |
| Balance sheet | 11 |
| Cash flow statement | 12 |
| Notes to the cash flow statement | 13 |
| Notestothefinancialstatements | 14-20 |
The Johnson Foundation (a company limited by guarantee) Trustees’ report and financial statements 31 March 2025
Trustees’ report
Reference and administrative details
| Directors and trustees | K E Eugeni |
|---|---|
| CW Johnson | |
| S A Stevenson | |
| C LJohnson | |
| H S Frost | |
| Registered office | Office 2F |
| Egerton House | |
| 2 Tower Road | |
| Birkenhead | |
| Wirral CH41 1FN | |
| Registered charity number | 518660 |
| Company number | 2109197 |
| Operational address | Office 2F |
| Egerton House | |
| 2 Tower Road | |
| Birkenhead | |
| Wirral CH41 1FN | |
| Auditors | Robinson Rice Associates |
| 93 Banks Road | |
| West Kirby | |
| Wirral CH48 ORB | |
| Investment advisers | Rathbones |
| Incorporating Investec Wealth & Investment | |
| Port of Liverpool Building | |
| Pier Head | |
| Liverpool L3 1NW | |
| Bankers | National Westminster Bank plc |
| Charing Cross Branch | |
| Grange Road West | |
| Birkenhead | |
| CH414DF |
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The Johnson Foundation (a company limited by guarantee) Trustees’ report and financial statements 31 March 2025
The trustees, who act as directors for the purpose of company law, present their report and financial statements for the year ended 31% March 2025. The administrative information detailed on page 1 forms part of the trustees’ report.
Structure, governance and management
The Johnson Foundation is a company limited by guarantee, not having share capital, and is therefore limited by its memorandum and articles of association. The liability of the members is limited to £1 each. The company was incorporated on 11 March 1987 and registered as a charity on 6 April 1987. In the trustees’ opinion, the financial statements comply with current statutory requirements, the charity Statement of Recommended Practice FRS102 and with the requirements of the charity’s memorandum and articles which is its governing document.
The day-to-day affairs of the Foundation are co-ordinated by the trustees who meet at regular intervals. These meetings primarily incorporate an appraisal of the financial situation of the Foundation, the consideration of a number of applications for donations and grants and an evaluation of current and future investments; together with any other matters which may from time to time arise including consideration of topical issues such as amendments to charities legislation.
Existing trustees keep up to date with topical issues and any changes in charity law through periodic updates received from the Charity Commission.
Directors and trustees
The trustees who served during the year were as follows: K E Eugeni (Chairman); C W Johnson; S A Stephenson CL Johnson; H S Frost
The trustees act as directors for the purposes of company law. There must be at least two but not more than eight on the Board.
The Board meets regularly, administers the charity and may, from time to time, appoint new members at their discretion. Trustees can be removed by resolution of the Board.
The chair of the trustees is responsible for the induction of any new trustee which involves awareness of a trustee’s responsibilities, the governing document, administrative procedures and the history and philosophical approach of the charity. The original trustees have held office for over 10 years, however due to the size and nature of the organisation this is deemed appropriate.
Risk management
The trustees intend to review the major risks to which the charity is exposed during late 2025 however they do not anticipate any major changes to the risks related to the operations and finances of the trust. The trustees are satisfied that systems are in place to mitigate the Foundation’s exposure to the major risks.
The trustees consider the key risks and uncertainties facing the trust to be:
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e That the grant or loan awarded is not used for the purpose intended. e That the project is not completed and the amounts invested cannot be reclaimed. e The reputation of the Foundation is damaged due to non-completion of a project.
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e That charitable monies are used inappropriately by ourselves or our grantees.
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The Johnson Foundation (a company limited by guarantee) Trustees’ report and financial statements 31 March 2025
Internal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects and the organisation has in place, open and transparent grant and loan making guidelines which protects against reputational risk. Objectives and activities for public benefit The Foundation has continued in the main to support charitable activities in the Liverpool City Region by donations and grants to many of the smaller charitable activities in the local area. It is the intention of the Foundation to be a grant making charity for the long term.
The objectives for which the Foundation is established are:
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(i) to promote any charitable purposes for the benefit of the Liverpool City Region.
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(ii) to promote any charitable purposes and in particular the advancement of education, the preservation and protection of health and relief of poverty and sickness.
The trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Foundation’s aims and objectives and in planning future activities and in setting the grant making policy for the year.
The trustees believe that in satisfying the objectives above, the Foundation continues to have a positive impact on members of the public in the Liverpool City Region. The outgoing resources for the year amounted to £188,935 (2024: £2,824,734).
Achievements
The Foundation continued to support charitable activities in accordance with the objectives noted above and a variety of grants and donations was made to community care and educational organisations to support a range of activities for children and families
Future plans
The trustees consider the current pattern of grants to education, health, youth and sport, together with donations to a wide range of small charities which have little or no professional fundraising capabilities to be in line with the goals of the Trust. The recent strap line of ‘nurture the youth, support families and respect the elderly’ continues to represent the ethos of the Foundation.
Grant making policy
In accordance with its objects the Foundation awards grants and gives a donation from unrestricted funds to charitable activities in the Liverpool City Region at the discretion of the trustees. This year the Foundation awarded £188,935 (2024: £2,706,087) in grants and donations. Details of grants made can be found in the notes to the financial statements. Whilst the Foundation is always prepared to help large charities, it tends to specialise in helping the smaller charities unable to afford professional fund raisers. However, last year the Foundation agreed to sponsor “The Peter Johnson Chair in Parkinson’s Disease and Movement Disorders” at the University of Liverpool for the purpose of driving forward new discoveries, treatments and interventions in Parkinson’s Disease. The £2,586,000 funding is being used to set up an expendable endowment fund, to be held at the University of Liverpool. This will support the chair for the next 22+ years, but the Chair will be named in perpetuity.
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The Johnson Foundation (a company limited by guarantee) Trustees’ report and financial statements 31 March 2025
In addition to this, the Foundation delivers two fully funded education programmes and has plans to launch Peter Johnson Halls, a residential programme supporting young people leaving the care system.
Inspired Reading and Mentoring Programme
Since its launch in 2020, the Johnson Foundation’s Inspired Reading and Mentoring Programme has continued to grow and make a meaningful impact in our local community. To date, 78 Volunteer Reading Mentors have enrolled and been placed in primary schools across the Wirral, helping to close the educational gaps that remain in the wake of the pandemic.
The programme currently works with ten local primary schools, located in some of the most disadvantaged areas of Wirral. A total number of 560 children aged 6-9 years old have already benefitted from support focused on improving their literacy levels, confidence and positive engagement with reading.
Each school selects children who will benefit from one-to-one support with a Reading Mentor to improve their reading levels and comprehension. These children may not have the opportunity for an adult to listen to them read at home. Some children benefit from support with a Reading Mentor who can bea positive role model to boost their self-esteem and confidence.
Our Volunteer Reading Mentors come from a wide variety of backgrounds and professions. While we are fortunate to have 8 retired teachers and 2 retired headteachers participating in the programme, which we consider to be a testament to the quality and credibility, most of our mentors are not from educational backgrounds. What they all share is a deep commitment to the children they support. Their time, dedication, and the meaningful relationships they form with their mentees are at the heart of the programme’s success and it cannot be underestimated the importance of the special bonds formed.
The Johnson Foundation depends on these incredible volunteers. Their contribution is vital and quite simply we could not run the programme without them. The importance of developing strong literacy skills at an early age cannot be overstated. Good literacy underpins academic success and opens the door to greater life opportunities. It enhances employability, increases earning potential, and plays a vital role in breaking the cycle of poverty.
By tackling low literacy early, we are helping to transform children’s futures - one story at a time.
My Big Future Programme
In 2022, the Foundation proudly launched My Big Future - a fully funded careers inspiration and aspirationbuilding programme designed to ignite curiosity and ambition in primary-aged children. Developed in collaboration with a wide range of engaged and forward-thinking businesses and organisations, the programme bridges the gap between education and the world of work. By fostering strong, local partnerships between schools and employers, it provides meaningful and inspiring experiences that start at a grassroots level and reach children directly in the classroom.
Since its relaunch in October 2022, My Big Future has engaged over 1,600 children aged 8 to 10 through a dynamic mix of Foundation-led workshops, immersive behind-the-scenes business visits, and creative Enterprise Days. These experiences introduce young learners to a diverse range of careers, helping to build aspiration, confidence, and an early understanding of the working world.
Now entering its fourth year, My Big Future is expanding to ten primary schools - nine of which also participate in our Inspired Reading programme. This alignment offers a unique, continuous pipeline of support from Year 2 through Year 5, ensuring children develop confidence, curiosity, and a strong sense of possibility from an early age.
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The Johnson Foundation (a company limited by guarantee) Trustees’ report and financial statements 31 March 2025
To further strengthen delivery, we have recently introduced the W.O.W (World of Work) Ambassador Network, which brings inspirational speakers and relatable role models into schools. These sessions aim to help children see themselves reflected in a broad range of future possibilities, reinforcing aspiration through real-life stories and representation.
Together, My Big Future and Inspired Reading form a cohesive, developmental pathway that supports children throughout the primary years —building their confidence, nurturing ambition, and helping them to begin exploring their own futures.
Peter Johnson Halls
The Trustees are pleased to report the successful completion of the acquisition of Europa House, marking a significant milestone in the Johnson Foundation’s ongoing mission to support young people. Planning permission for change of use has been secured, and we are now preparing to redevelop the property into Peter Johnson Halls — a high-quality, student-style accommodation offering 24 one-bedroom en-suite dwellings. The redevelopment will also. include shared communal kitchens and recreational-style areas, designed to encourage connection and a sense of community. This project is specifically aimed at supporting young people leaving the care system, who are among the most vulnerable in society. As they transition into adulthood, it is vital they have access to a safe, stable, and supportive environment. We are currently in active discussions with residential providers and charitable organisations who will work alongside us to deliver tailored support services. This development represents a significant step forward in our commitment to empowering care leavers with the security and opportunities they need to thrive.
Reserves policy
The trustees define free reserves to be unrestricted funds excluding any freehold land and buildings as these are not easily realisable. At the year-end free reserves amounted to £5,008,666 (2024 £7,019,530). The trustees deem the current level of reserves to be in excess of requirements, however given the volatility of the current investment market consider this to be prudent.
Investment policy
The trustees have the power to invest in such assets as they see fit. Dividends and Loan Interest amounted to £84,422 in the current year (2024: £81,791). Investments held by the charity have been acquired in accordance with the powers available to the trustees.
The trustees have considered the most appropriate policy for investing funds and have prioritised maintenance of the income stream and ensuring, as far as possible, that the investment income on a yearby-year basis exceeds the level of charitable donations by a margin broadly in line with that achieved since the start of the Foundation. In the current year, the investment income for the Foundation did exceed its charitable donations.
The trustees intend to invest the Foundation’s funds principally in listed securities and commercial property and will seek to obtain the most appropriate financial return from such investments without undue risk to the invested funds.
Statement of Trustees' Responsibilities
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
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The Johnson Foundation (a company limited by guarantee) Trustees’ report and financial statements 31 March 2025
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period.
In preparing those financial statements, the trustees are required to:
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e select suitable accounting policies and then apply them consistently.
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e observe the methods and principles in the Charity SORP.
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e make judgements and estimates that are reasonable and prudent.
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e state whether applicable accounting standards have been followed, subject to any material
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e departures disclosed and explained in the financial statements.
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e prepare the financial statements on the going concern basis unless it is inappropriate to e presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
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e there is no relevant audit information of which the charitable company's auditors are unaware. and
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e the trustees have taken all steps that they ought to have taken to make themselves aware of e any relevant audit information and to establish that the auditors are aware of that information.
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MeO
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On behalf of the trustees K E Eugeni Chairman
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The Johnson Foundation (a company limited by guarantee) Trustees’ report and financial statements 31 March 2025
Independent Auditor’s Report to the Members of The Johnson Foundation (a company limited by guarantee).
Opinion
We have audited the financial statements of The Johnson Foundation Limited (the 'charitable company’) for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland’.
In our opinion the financial statements:
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e give a true and fair view of the state of the charitable company's affairs as at 31 March 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended
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e have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and
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e have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors’ responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
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The Johnson Foundation (a company limited by guarantee) Trustees’ report and financial statements 31 March 2025
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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e the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and
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e the Report of the Trustees has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
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e adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
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e the financial statements are not in agreement with the accounting records and returns; or
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e certain disclosures of trustees' remuneration specified by law are not made
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@ we have not received all the information and explanations we require for our audit; or
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e the trustees were not entitled to prepare the financial statements in accordance with the small companies’ regime and take advantage of the small companies’ exemptions in preparing the directors’ report and from the requirement to prepare a strategic report.
Responsibilities of trustees
As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Our responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
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11/12/2025
The Johnson Foundation (a company limited by guarantee) Trustees' Report and Financial Statements
31st March 2025
Statement of financial activity (including income and expenditure account)
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||||||||||
|---|---|---|---|---|---|---|---|---|
|Unrestricted|Unrestricted|
|Note|2025|2024|
|£|£|
|Income|and|endowments|
|Other|trading|activities|2|786|-|
|Income|from|investments|2|365,644|299,647|
|Other|income|2|-|7,026,286|
|Total|income|and|endowments|366,430|7,325,933|
|Expenditure|
|Expenditure|on|raising|funds|3|-|-|
|Expenditure|on|charitable|activities|4|(317,002)|(2,824,734)|
|Total|expenditure|(317,002)|(2,824,734)|
|Other|recognised|gains|and|losses|
|Realised|gain/(loss)|on|sales|of investments|6,373|3,390|
|Unrealised|gain|on|revaluation|of|subsidiary|investment|-|312,000|
|Unrealised|gain/(loss)|on|revaluation|of investments|6|(17,623)|132,881|
|Total|recognised|gains/(losses)|(11,250)|448,271|
|Net|income/(expenditure)|38,178|4,949,470|
|Net|movement|in|funds|38,178|4,949,470|
|Total|funds|at|beginning|of year|7,384,323|2,434,853|
|Total|funds|at|end|of year|7,422,501|7,384,323|
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Trustees’ Report and Financial Statements 31st March 2025
The Johnson Foundation (a company limited by guarantee)1
Balance Sheet
| Balance Sheet | ||||||
|---|---|---|---|---|---|---|
| Note | 2025 | 2024 | ||||
| £ | £ | £ | £ | |||
| Fixed assets | ||||||
| Investments | 6 | 5,473,812 | 8,861,349 | |||
| Tangible assets | 7 | 366 | 516 | |||
| 5,474,178 | 8,861,865 | |||||
| Current assets - |
||||||
| Debtors | 8 | 538,550 | 108,633 | |||
| Cash at bank and in hand | 5,239,300 | 1,068 | 948 | |||
| 5,777,850 | 1,177,581 | |||||
| Liabilities | ||||||
| Creditors: amounts falling due within one year | 9 | ( 2,483,527) | ( 689,123) | |||
| Net current assets | 3,294,323 | 488 | 458 | |||
| Total assets less current liabilities | 8,768,501 | 9,350,323 | ||||
| Liabilities | ||||||
| Amounts falling due after more than one year | 10 | (1,346,000) | (1,966,000) | |||
| Net assets | 7,422,501 | 7,384,323 | ||||
| Funds | ||||||
| Restricted funds | - | - | ||||
| Unrestricted funds | 13 | 7,422,501 | 7,384,323 | |||
| 7,422,501 | 7,384,323 |
The financial statements were approved by the Board of Trustees and authorised for issue on 11 December 2025 and were signed on its behalf by:
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K E Eugeni Chairman of Trustees
H S Frost Trustee
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The Johnson Foundation (a company limited by guarantee) Trustees' Report and Financial Statements 31st March 2025
Cash Flow Statement
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|||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|2025|2024|
|Note|£|£|
|Cash|flows|from|operative|activities|
|Cash|generated|from|operations|1|794,065|7,093,608|
|Net|cash|from|operating|activities|_ 794,065|||7,093,608|
|Cash|flows|from|investing|activities|
|Purchase|of|investments|(3,530,063)|(245,583)|
|Purchase|of|fixed|term|investment|-|(6,500,000)|
|Purchase|of|tangible|fixed|assets|-|(645)|
|Sale|of|investments|406,349|248|394|
|Maturity|of|fixed|term|investment|6,500,000|-|
|Net|cash|from|investing|activities|___|3,376,286|(6,497,834)|
|Increase|in|cash|and|cash|equivalents|4,170,351|595,774|
|Cash|and|cash|equivalents|at|the|beginning|of the|year|2|1,068,949|473,175|
|Cash|and|cash|equivalents|at the|end|of the|year|2|5,239,300|1,068,949|
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The Johnson Foundation (a company limited by guarantee) Trustees’ Report and Financial Statements 31st March 2025
Notes to the Cash Flow Statement
1. Reconciliation of surplus to cash generated from operations
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Net income/(expenditure) | 38,178 | 4,949,470 |
| Depreciation of tangible fixed assets | 150 | 239 |
| Realised (gain)/loss on sales of investments | (6,373) | (3,390) |
| Unrealised (gain)/loss on revaluation of investments | 17,623 | (132,881) |
| 49,578 | 4,813,438 | |
| Decrease/(increase) in debtors | (429,917) | (101,848) |
| Increase/(decrease) in creditors | 1,174,404 | 2,382,018 |
| 794,065 | 7,093,608 | |
| 2. Cash and cash equivalents | ||
| 31.03.25 | 01.04.24 | |
| Year Ended 31st March 2025 | 5,239,300 | 1,068,948 |
| 31.03.24 | 01.04.23 | |
| YearEnded31stMarch2024 | 1,068,948 | 473,175 |
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The Johnson Foundation (a company limited by guarantee)
Trustees’ Report and Financial Statements
31st March 2025
Notes to the financial statements
1. Accounting policies
The following accounting policies have been applied consistently in dealing with items which are considered material with relation to the charitable company's financial statements. The financial statements are filed annually with the Registrar of Companies.
Basis of preparation
The financial statements of the charitable compan, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘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) (effective 1 January 2019)’, Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Going Concern
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for twelve months from authorising these financial statements. The budgetted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
Incoming resources
Income from investments, investment properties and other incoming resources are recognised net of VAT, where appropriate, in full when receivable on an accruals basis.
Resources expended
Expenditure is charged on an accrual basis, inclusive of irrecoverable VAT. Charitable activities comprise those costs directly incurred in pursuance of the charitable company's activities. These costs are mainly donations and grants made by the charitable company. Where costs cannot be directly attributable to particular headings they have been allocated on a basis consistent with the use of resources. There were no such allocations in the vear.
Unrestricted funds
Unrestricted funds are donations and other incoming resources receivable or generated for the objects of the charity without further specified purpose and are available as general funds. These funds can be used in accordance with the charitable objects at the discretion of the trustees.
Restricted funds
Restricted funds are subjected to restrictions on their expenditure imposed by the donor.
Investment properties and depreciation
Investment property is considered for revaluation annually by the trustees. If the year end valuation is found to be different to the carrying value in the accounts, the surplus or deficit is transferred to the Statement of Financial Activities.
Listed investments
Listed investments held as fixed assets are revalued to market value at the balance sheet date and the gain or loss taken to the Statement of Financial Activities.
Unlisted investments
Unlisted investments held as fixed assets are initially measured at cost and subsequently measured as cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in the Statement of Financial Activities
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The Johnson Foundation (a company limited by guarantee) Trustees’ Report and Financial Statements 31st March 2025
1. Accounting Policies continued
Debtors and creditors receivable / payable
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on costs
Employee Benefits
The charity operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable. The amount of £1,497 has been included in the SOFA under salaries.
Cash and cash equialents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturitiesof three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Taxation
The company is exempt from taxation under the Income and Corporation Taxes Act on its charitable activities.
| 2. Income and endowments | 2025 | 2024 |
|---|---|---|
| Unrestricted | Unrestricted | |
| —_£ | —_£ | |
| Other trading activites | 786 | - |
| 786 | - | |
| Income from investments | ||
| Rent receivable | 25,590 | 18,944 |
| Dividends and Loan Interest | 84,422 | 81,791 |
| Dividend from Subsidiary | “ | 83,682 |
| Intetest received on deposit accounts | 255,632 | 115,230 |
| 365,644 | 299,647 | |
| Other income | ||
| Donation | - | 7,026,286 |
| - | 7,026,286 | |
| 366,430 | 7,325,933 |
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The Johnson Foundation (a company limited by guarantee) Trustees’ Report and Financial Statements 31st March 2025
| 3. | Raising funds | 2025 |
|---|---|---|
| Unrestricted | ||
| £ | ||
| Fundraising costs | - | |
| Salaries | - | |
| Total donations | _ | |
| 4. | Charitable activities | 2025 |
| Unrestricted | ||
| £ | ||
| All Aboard Youth | 2,992 | |
| Asthma Relief | 1,900 | |
| Barnstondale Centre | 10,000 | |
| Bidston Avenue Primary School Sports Kit | 973 | |
| Birkenhead Gang Show | 2,000 | |
| ChesterZoo | 20,000 | |
| ChesterZoo 'Underthe Canopy Gala’ | 6,000 | |
| Clatterbridge Cancer Charity Ball | 10,000 | |
| Dementia Together | 2,800 | |
| Forward Trust | 5,000 | |
| Merseyside Water Rescue | 3,000 | |
| Mid Wirral Crime Prevention | 1,750 | |
| Number Seven | 90,000 | |
| Oxton Cricket Club | 20,000 | |
| Sams Diamonds | 3,250 | |
| The Block Armed Forces | 18,000 | |
| West Everton Community | 2,800 | |
| West Kirby Yellows (P Lynch) | 2,000 | |
| Wirral Churches' Ark Project | 9,570 | |
| WUTH Charity Ball | 1,400 | |
| Lighthouse Centre | (24,500) | |
| Total Donations | 188,935 | |
| Salaries | 68,001 | |
| Sundry | 381 | |
| Rent and Telephone | 12,111 | |
| Computer Costs | 2,848 | |
| Post and Stationary | 468 | |
| Auditor's and Accountant's Remuneration | 7,240 | |
| Legal and Professional Fees | 33,436 | |
| Insurance | 1,518 | |
| Projects and Events | 1,822 | |
| Bank Charges | 92 | |
| Depreciation Charge | 150 | |
| Total Overheads | 128,067 | |
| TotalCosts | 317,002 |
16
The Johnson Foundation (a company limited by guarantee) Trustees’ Report and Financial Statements 31st March 2025
4. Charitable activities (continued)
| Charitable activities (continued) | 2024 |
|---|---|
| Unrestricted | |
| £ | |
| Airborn Flying | 5000 |
| Birkenhead GangShow | 2,000 |
| Clatterbridge Charity Ball | 10,000 |
| Foundation Years Trust | 500 |
| Glenavon | 490 |
| KH2 - Clare Mount School | 7,385 |
| Kids Konnect | 2,000 |
| Lighthouse Centre | 32,000 |
| Mersey Thai | 4,000 |
| Neo Community | 3,450 |
| New Ferry Rangers | 30,000 |
| Patience Wood | 2,000 |
| Phoenix Healing | 2,000 |
| Royal Court | 10,000 |
| St Werburgh's | 1,212 |
| Stick n Step | 4,000 |
| University of Liverpool | 2,586,000 |
| Valley Brass Band | 2,000 |
| WUTH Charity Ball | 1,400 |
| WUTH Charity Lunch | 650 |
| Total Donations | 2,706,087 |
| Salaries | 65,523 |
| Sundry | 240 |
| Rent and Telephone | 11,191 |
| Computer Costs | 5,513 |
| Post and Stationary | 719 |
| Auditor's and Accountant's Remuneration | 6,060 |
| Legal and Professional Fees | 26,308 |
| Insurance | 1,550 |
| Projects and Events | 1,304 |
| Bank Charges | - |
| Depreciation Charge | 239 |
| Total Overheads | 118,647 |
| TotalCosts | 2,824,734 |
17
The Johnson Foundation (a company limited by guarantee) Trustees' Report and Financial Statements 31st March 2025
5. Staff numbers and costs
The average monthly number of persons employed by the charity during the year was 2 (2024 - 2).
The total salary costs were £68,001 (2024 - £65,523). The trustees received no emoluments for their services.
6. Fixed asset investments
| Investment in Freeholdand Leasehold Land |
Investment in Freeholdand Leasehold Land |
. ,Weate ‘NVEsiments |
: , anise invesimens |
Investment in FixedTerm BonkAccount |
Total |
|---|---|---|---|---|---|
| and | Buildings | ||||
| £ | £ | £ | £ | £ | |
| At valuation | |||||
| Opening Balance at 1st April 2024 | 364,793 | 1,996,555 | 1 | 6,500,000 | 8,861,349 |
| Additions | 2,049,042 | 1,481,021 | - | 3,530,063 | |
| Disposals | - | (399,976) | (1) | (6,500,000) | (6,899,977) |
| Change in market value | - | (17,623) | - | (17,623) | |
| Closing Balance at 31st March 2025 | 2,413,835 | 3,059,977 | - | - | 5,473,812 |
| valuation at 31 March 2025 is represented by: | Investment | ||||
| freehold land | |||||
| and buildings | |||||
| —_£ | |||||
| Valuation in 2008 | 31,000 | ||||
| Impairment in 2008 | (26,200) | ||||
| Valuation in 2013 | 17,750 | ||||
| Valuation in 2020 | (39,999) | ||||
| Cost | 2,431,284 | ||||
| 2,413,835 |
Cost or valuation at 31 March 2025 is represented by:
| Ifthe investment in freehold land and buildings had not been revalued theywould have been included as the following | Ifthe investment in freehold land and buildings had not been revalued theywould have been included as the following | Ifthe investment in freehold land and buildings had not been revalued theywould have been included as the following |
|---|---|---|
| historical cost: | ||
| 2025 | 2024 | |
| £ | £ | |
| Cost | 2,431,284 | 382,242 |
Investment in freehold land and buildings were valued on an open market basis on 29 June 2007 by Messrs Mason Owen & Partners and Messrs Honeybourne Kenny, Chartered Surveyors. At 31 March 2008, the trustees elected to impair the properties due to the downturn of the property market. The trustees assessed the market value of the properties held at 31 March 2025 and consider the revised valuation to be appropriate.
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The Johnson Foundation (a company limited by guarantee)
Trustees' Report and Financial Statements 31st March 2025
| 7. Tangible fixed assets | 7. Tangible fixed assets | Total | |
|---|---|---|---|
| £ | |||
| Cost | |||
| At 1st April 2024 | 16,865 | ||
| Additions | - | ||
| At 31st March 2025 | 16,865 | ||
| Depreciation | |||
| At 1st April 2024 | (16,349) | ||
| Charge for year | (150) | ||
| At 31st March 2025 | (16,499) | ||
| Net book | value at 31st March 2024 | 516 | |
| Net book | value at 31st March 2025 | 366 | |
| 8. Debtors: amounts falling due within one year | 2025 | 2024 | |
| £ | £ | ||
| Other debtors | - | 101,496 | |
| Directors Loan | 525,000 | - | |
| Accrued income | 13,550 | 7,137 | |
| 538,550 | 108,633 | ||
| 9. Creditors: amounts falling due within one year | 2025 | 2024 | |
| £ | £ | ||
| Accruals | 1,815,757 | 13,639 | |
| Accrued sponsorships | 667,000 | 620,000 | |
| Inter CompanyAccount with J2 Hydro Limited | - | 55,041 | |
| VAT | 770 | 443 | |
| 2,483,527 | 689,123 | ||
| 10. Creditors: amounts falling due after more than one year | 2025 | 2024 | |
| £ | £ | ||
| Accrued sponsorships | 1,346,000 | 1,966,000 | |
| 1,346,000 | 1,966,000 | ||
| 11. Funding Commitments | |||
| The following funding commitments are included in current and long term creditors | |||
| £ | |||
| Brought forward at 1st April 2024 | 2,586,000 | ||
| Paid in the year | (620,000) | ||
| Pledged in the year | oT | ||
| Carried forward at 31st March 2025 | 1,966,000 | ||
| Allocated :- | |||
| Less than one year | 620,000 | ||
| Greater than one year | 1,346,000 | ||
| Totalpledged | 1,966,000 |
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The Johnson Foundation (a company limited by guarantee) Trustees' Report and Financial Statements 31st March 2025
12. Unrestricted funds
| 12. | Unrestricted funds | ||||||
|---|---|---|---|---|---|---|---|
| Fund | |||||||
| 01.04.2024 | Income | Expenses | Transfers | 31.03.2025 | |||
| £ | £ | £ | £ | £ | |||
| Funds | 7,384,323 | 355,180 | 272,002 | - | 7,467,501 | ||
| 7,384,323 | 355,180 | 272,002 | - | 7,467,501 | |||
| 13. | Analysis of net assets between | funds | |||||
| Fixed | Current | Long Term | |||||
| Assets | Assets | Liabilities | 2025 | Total | 2024 Total |
||
| £ | £ | £ | £ | £ | |||
| Restricted funds | - | - | - | - | - | ||
| Unrestricted funds | 5,474,178 | 3,294,323 | (1,346,000) | 7,422,501 | 7,384,323 | ||
| 5,474,178 | 3,294,323 | (1,346,000) | 7,422,501 | 7,384,323 |
14. Auditor's Remuneration
Auditor's remuneration for the year ended 31st March 2025 amounted to £7,000 (2024 £6,600)
15. Capital Commitments and subsequent events
The purchase of Europa House, intended for the provision of accommodation for young people, will require capital expenditure estimated at £1.6 million to facilitate its conversion into 24 suitable one-bedroom en-suite units.
16. Statutory Information
The Johnson Foundation is a private company, limited by guarantee, registered in England and Wales. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The charity's registered numbers and registered office address can be found on the Reference and Administrative Details page.
17. Related Parties
During the year a trustee, Katherine Eugeni, loaned £525,000 from the Foundation at 7% rate of interest which has been paid regularly on a monthly basis. Full repayment of the loan is anticipated within six months of the date of these accounts being signed.
18. Investment in subsidiary
The Charity owned 100% of the ordinary share capital of J2 Hydro Limited (08709619). The turnover for the year ended ended 31st March 2024 was £0 which continued through 2024 and into 2025. The company did not trade and was dissolved at Companies House on 18th March 2025.
The presentation currency of the financial statements is the Pound Sterling (£).
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