Ethel James Trust Fund ort and Financial Statements. Year Ended 5 A ril 2025 Charit No: 527190
Ethel James Trust Fund Contents Pa Legal and Administrative Informatlon R9POrt of the Trustees Indopendont Examiner's RgPQrt Statgm8nt of Flnanclal Activities Balance Sheot Not85 formlng part of the financlal stalements 7-10
Ethel James Trust Fund Roforonce and Admlnlstratlvo Informatlon Trustees CA Holdon PJ Tayfor N Barn6S Princi al offic Riverslde Hous9 Kings Roach Business Park Yew Street Stockport SK4 2HD Invfyslmenl Mana 9rs Arnold Slansby & Co Limited 3rd Floor Fabri 30 Queen Street Manchesler M2 5JJ Inde endenl Examiner Xeinadin Riv6rsid8 Hous Kings Roach Business Park Yew Street Slockporl SK4 214D Bankers The Royal Bank of Scolland Drummond Houso 1 Radheughs Avenue Edinburgh EH129JN Solicitors Cooper Sons Hariley and William5 25 Mark&l Strèèt Chapèl èn la Frith High Peak Derbyshire SK23 OHS
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5 APRIL 2025 Ethel James Trust Fund Tho Iruslees Pfosenl their annual r8POrt snd Ind8P8nd8nlly examined acccunls for the year ended 5 Aprll 2025 Thg Iru51ees hav? adDpled the provislon5 of the statement of Fecommended praclEce ISORPI "Charllie5 SORP IFRS1021 IseGond edilion-OGIDbBI 20191. And a150 Gonsdered with 4 of the Charlty A¢t 2011 to have due gard lo guldance by th8 Charity CommIlOn In¢ludlng publ1¢ benefil gldance." T ustee5 01 th8 Trus188s named on pag& 2 CA Hokl8n, PJ Taybr. and N Barnes have served during th8 year and lo th8 date of the report. olntm8nt of trustees Thpre are no restrictions on Ihe appoinlmenl of new tiustees and the current tsuslees look from lim8 to liffl8 to introduce new tIUs1895 a5 they $6e as appropilato. és There ale no restrictions a5 to InveBtmanl ptrwers and Iruslees 8ngage Arnold Stansby & Co Limited lo admlnl$lÈr Ihe inveslm&nls. Inv8slm&nts purchasedlsold are dlscussed between Ihe Irustaes arxl nold Slansby & Co Limited. Constitutron and ob-e¢ts The Charlty was set up by declarallon of trust on 25 Iklober 1973 and its aims ar8 advancement of education ol Ihe publlc, granllng assislance lo pr8senl or past memb6rs of Ihe Normanlon School ITr neces8ltous clrcum51ances ITr thg PIOV15ion of scholarships, prize ?xhibilions or awdrds, and givtng a5S151aThc8 lo exisling hwitablg iB51ilutlQn5 a5SOGlgtBd with Normanlon SGhool. Two of the aims of th8 Tiusl r8la18 directly lo Normafilon School, .i.e. granting of assisiance lo presenl or past m8rnbeis of Mortn2tiloTr School in nec8ssilous circumslanc88. and givlng assisl&nce to exi51ing charitable in81ilulions associated with NormanEon School. Norffjanlon School closed in 1998 and Ihe Ihen forffl£r pupils assoBialion subsegiEBnlly ceasBd ils aGlkvIIi£s. The trustees. und$r$landiny is that subsequ9nl lo those events no new formally ¢onsllluled form¢r pupils assotlatlon has b88n &slabllsh8d. Th6 chailly r8malns op8n lo appllcallons from pasl members ol Normanton School In n8cessllous cireumstanc85 subjecl io the charitys oblecls and Ils normal procedures for applieallons. Th8 Irusle88 revi8w all applications for awards or grants on the bask5 of the objeclives of the chaiity and ils normal operating pr¢)codures and Ireal each application on ¢ls individuat merits. 8¢ Tho trusl has conllnued lo act In the public benefit by gill funding lo local charitable organisalions whos8 objectives are in line with those of the Trust, i.e. suppoillllg a¢liville$ whkh meet Iha 50¢ial. educational, and cultural needs ofyoung people. The Irustegs ¢onllnue lo kÈ&p their policiès and procèdurès undèr revlew. The Iruslees are aware thal wlth 9eTrerally variable interest rHle5. 11 tnay be dilf11 lo rely on the generation of 5uffiGienl funds lo fund ils a¢livilio$ and meet 3im5. A¢rordlngly Inve$lments are made in deeffled sale coiporale sÉtUfiti88 paying int6r8sl at rates which arg16ss likely lo be subj8cI lo fr8quenl fluclualions. Flnanolal R vlew Reseryes Thp charity rèlalned nel incomlng resourcès of t43,407 whlch log8lh8r wllh reaallOn gain 01 £12.418 have18d lo lolal unr8slrlcled funds of £872,791 b8lng carried forward. The trustee5 have a policy Ihat IhB r85erves of the chafity be kepl al a sufficienl level tD generate enough inc0rn8 lo Gover proposed charitable donations. P. J. Tayl Date
Ethel Jarnes Trust Fund Inda endent examiner's re ort lo the Trustees of Ethel James Trust Fund I report lo Ihg tiusiees on my examinallon of th6 accounls of Ethel James Trust Fund for the year ended 5 April 2025 whlch are set out on pages 1 10 10. Responsibililies and basls of report As the charlly Iruslees ol Ihe Trust you are ¥esponsible for Ihe prepafallon of the accounts in accoTdance with lh& r8quiremenis of Ihg Charilies Act 20111'lhe Acl'l. I report in respect of my examinalion of th8 Trusl8e's accounls cairi8d out undgl SB¢tion 14S of the 2011 Act and in carrying out my examinalion I havg followed all the applicable Direction5 given by the Charsly Commission und8r section 14515llbl ol the 2011 Charil(es Act. Independenl examiners stalemenl I hav8 compl816d my examination. I confirm Ihal no malsrial mallers hav8 come lo my all8fblion in conn9clion with the examlnalion giving me cause lo bBlieve that in any material ie5pecl'. 111 accounting rècords W6f8 not kept In respecl of the Trust as required by section 130 01 th8 Acl- or 121 the accounls do not accord with those records,. or 131 the accounls do not comply with ihe applicable requiremgnls concerning lh8 form and contènt ol CCOLtnts set out Sn the Charities (Accounts and Reports) Regulations 2008 olh8r than any r8qulrement thal the accounts give a 'true and fair vigw, which is not 8 fflat18f considèrad as part ol an indèpand6nt examinalion. I have no con¢orns and havè come across no other mallers in connection with the examinalion lo which allenlion should b& drawn in thls Teporl in order lo enablg a PToper und8rstgnding of thè accounis to b& reached. g LeAkL-D¥¥ Simon Lgilch-Devlin Chaitered Accountanl ICAEW XeSnadin R5verside House, Kings Reach Buslnèss Park. Yew Slreel, Slockporl. SK4 2HD 29/oi/zoiC
Ethel James Trust Fund Statemè tof Inanclal es For The èar Ended 5 rll 2025 Unfeslricl8d Funds 0ti10412025 UnF851ric18 Fund5 0510412024 InGomln R8SOUYCOS Notes Inv8slffl8nl lftcotn8 47.549 43,219 Total In¢ome Reseiv¢ 41.549 43.219 Rasource Ex 8ndhluro Costs ot GDnèraflng Funds Investment Manauemènt Costs 160 harltablo A¢tivitloS Gov0rnan¢e Costs othar Resour¢es Expended 6,OOQ 2,382 3,000 2,358 Total R&soa¢rces Expendèd 8.547 5,368 Not Incomlng Rosources Before Investment Galns 39,002 37,851 oth¢r R•¢tsgni$$d Gain$lLo$$ ILo$$llProfit On Sale of Invostmenls 4,406 14.096 Nel Incomlng Res8rves 43,408 23.755 ILossllGalns on Revaluatlon of Inv05tmonts 12,418 17,904 Net Movemèrtt tsl Fund5 55,826 5,851 Tolal Funds Brought Foard 816,965 811,115 Tolal Funds Carrled FotV4ard 72,791 816,965
The Eth81 James Trust Fund Balanc8 Sheet As At S A rll 2025 Unre$lrl¢led Funds 0510412025 Unreslrl¢led Funds 051041202 Flxed A6$0ts Inveslfflents 630.519 609,662 crrent Assets Cash in bank alld in hand 244,654 244,654 209,661 209,661 Creditors Amounts falllng due withln one year 2.382 2,358 Nèt Current Assets 242,272 207,303 Nèt Assets 872,791 816,985 Funds of th• Charlty Unr8slri¢ted Incom8 funds Tolal Charily Funds 872,791 872,791 816,965 816,965 proved b Ihe Trusteos on . and slgned on thelr behalf LL. P.J.Ta o¥ CA Holden Re isleied Gharit No 521190
Et James Trust Fund NolBs to the Accovnts 1 Ba5Is of P The financial slalomonls ha¥8 boen prepared in aGcordance wlh Ihg charflS trust dgFd, Ihe Charilips Acl 2011. FRS 102"Thg Financial Repoiling Standard appllc8ble Sn Ihe UK and R8publlc ul Iieland. r'FRS 102.1 Ihg Charilig5 SORP'Accounling and Reporflng by CharlIs.. Slatomeniof Rg¢ommended Pf8cll¢& appll¢abl8 lo charilies prpar¥ Iheir acc¢x)nrs in accordanta y41 the Flnan¢lal Reporiing Slandard applScablg in Ihe VK and Republ of Ireland IFRS 1021. leffÈcllve 1 January 20191. The charily ts a Publi¢ 8tnelil Entity as defined by FRS 102. Thtr ¢harityhas taken thgnig98 dlh8 provislon8 in th8 SORP forcharilies rtol kn FHBpare a SiaiemBnl of Cash FIov4S. The linan£tal slal8mBn15 have d&pard Ifom Ihg Ch¥fAies (Accoullls and Reports) RegulallcrfTrs 2008 only lo the exleDt required lo provlde a Iwe 8nd fairvitrw. T5 depatiure ha5 Involved following the SialeThBnl of Recommen(tgd Pia¢lic8 lor ¢harJiios appIrY FRS 102 rather IhaTh the ver4on ollhfr Slat•tngnlor Recommenrf&d PFaciice which 15 referred to Ihe Regulalk)ns butvthl¢h has Since been wilhdrown. Th& IlnaThElal slalEmen15 awe prepared In sIerfg whlch18 the tun¢ts'onal Gurvencyol the charity lrtonelary amounis in Ihese fi¢41 sl8leinonls ara rounded lo Ihtr neaTesl £. The financial slalem$nts have bggn piepared und£rlhD hlsloiical cost convenllon. unle$$ olhen¥i59 Stated In the re16vanta¢counliny policy notes. Tmg piincip81 accounling policlos adopitd arb SÈI out below. 2 A¢Gountln R080urco¥ In¥oslmèAI In¢ome-This Is Inuded when re¢8iv0bl8 and a d9ctIOn rnade lor Inlergst chargB on purchaseof Miveslmenls. nvvslment Galns ad Losses o ol Inveslingnls This include5 anygains or105s8$ or¢ th& salB of inveslmentS. t Galn¥ and Lo3ses on Ho nt8 Thls intludes and gains or losses restAling from rovalulng Inveslmonls lo m8rkel value al ihe end ol the year. Ex end abl LiabillUe5 are recognl$ed a¥ soon as &re Is a le9al consiru¢iivÈ S4gaIKjn commlillng thB CharNy lo payout rBsourcs$. QGO veinanc& Cos Incl8 the ¢081 of ihb pwparabon of slalul(xyaccovnts. rma ond511ons Thgsè are only rècognisttd in tha accounls when a commSlm$nl ha$ boen madB and IhBte aro no condiiions lo be mel relaling lo Ihe granlwhlch remalns IM the control olthe Charily. Inv•sim&nls gIIOl8d on a réthgllised slock gxcbange ar& va1usd al maikelvalug al IhB w énd. Oihoi Invoslm&rsls a$se(s aw included al Ihe Iru51e&s' best &sllmal& of the markgl Valu asslsted by the InVBslfflt tnanager.
Eth81 James Trust Fund otes cco t8 co ue 3 Ana slsof ncomln Re50UfCOS 0510412025 05m412024 Investment Incomo Preference Shares Bond anES OividBnd Income Bank Interest 5.411 39.(K)7 3.131 47.549 4,523 36,162 2.534 43,219 4 Analy858 or Resourcas Expendllure Inveslmeat Management Cost Inveslmonl Managomonl le 16D Charltablo ActlvSt105 Donations 6,000 3.000 Govornart¢o Cost Indepencfenl ExaminerlAudil Fees 2.382 2.358 2.358 Bank Charggs 5 Trustees Remuneratlon and Exponses There was no IfUStee5 remuneralion12024'. nil) noi have there b£en any ieitnbursed xpensos12024.' nill. This reflatls the policy adopted by the Truste8& to take no remun8ralion or exp8nse8. 6 Inv8Stm8nt A558ts Flxed A550t lThYostment Market V8lue as at 0610412024 Acqulsllions al Cosl Di5posa15 al Market Value N81 Gain on lh8 portfolio MovÈmenl on Current Account 609.664 142,645 1142,6901 16,823 4,076 Markol Value as at 0510412025 630,519 Net Proceeds ol Inveslrn&nl Disposal 142,690 Markel Value of Inveslrnenls Dispossl 138.284 Not Pfofit 4,406
Ethel Jamès Trust Fu Notes to thè Account8 contlnued ¢rfjdltors and AcGruals 05 0412025 05104 024 A¢¢ruals and Def8rr8d Income 2.382 2.358 9 Tran$aeflons wllh Relaled PaTIio$ TherB weie no Iransaclions with relaled parlies during year. 10