The CJM Charitable Trust
Dated 29 August 1989
(Charity Commission No 802325)
Accounts
for the year ended 30 September 2024
Mercer
Hole
i Trustees

The CJM Charitable Trust
Dated 29 August 1989
Trustees. Annual Report
for the year ended 30 September 2024
Reference and administrative details
Name of Charity:
Trustees:
The CJM Charitable Trust {Charity No.802325)
Christopher James Marks
Timothy John Marks
William Robert Marks
Rupert Philip Marks
Farrer & Co Trust Corporation Limited
The present directors of Farrer & Co Twst Corporation are..
K N Dunnell
SPShah
BLACove
D E Davidson
W J A Gordon
A M L Hollingshead
C A Kirby
R S McDermott
OIGPiper
S J Pring
AAGTumer
S S Von Schmidt Auf Altenstsdt
L R C Horwood
S H J MacDonald
J C Ridgeway
N J Pomfret
C V Fraser
l R M Kerber (Appointed on 19 November 2024}
Principal Office Address: Farrer & Co LLP
66 Lincoln's Inn Frelds,
London, WC2A 3LH
Farrer & Co LLP (as above)
Coutts & Co
440 Strand
London, WC2R OQS
Sarasin & Partners LLP
Juxon House, 100 St Paul's Churchyard
London, EC4M 8BU
Sollcltors:
Bankers:
Investment Managers:
Accountants:
Mercer & Hole Trustees Ltd
72 London Road
St Albans, Hertfordshire
AL1 1NS
Independent Examiner:
Steve Robinson FCA
Mercer & Hole LLP
72 London Road
St Albans, Hertfordshire
AL1 1NS
structure. governance and management
Settlor:
Christopher James Marks
Page 1

The CJM Charitable Trust
Dated 29 August 1989
Trustees. Annual Report
for the year ended 30 September 2024
Governing Document:
The principal governing document is a trust deed dated 29 August 1989.
The trust is a private charitable trust controlled by its trustees.
Appointment of trustees: The settlor, Christopher James Marks has the power to appoint trustees.
Existing trustees have been drawn from family members, plus a professional
Trust Corporation. The lay trustees rely on outside advisors as necessary.
Management and control: The settlor and trustee. Christopher James Marks, and other trustees have
control and overall responsibility of the day to day management of the charity.
The tNstees have wide investment powers, including power to delegate to
professional investment managers and to invest in the name of nominees.
The trustees do not consider that they are exposed to any material risks
other than fluctuations in the value of their investment portfolio. They have
appointed professional investment managers and review the investment
performance on a regular basis.
Investment Powers:
Risks:
Objectives and actfvities
Objectives of the Charity: The trust was created for the benefit of the following:
1 } Any body or organisation whose objects are exclusively charitable by the
law of England and Wales.
2) Any other exclusively charitable purpose.
The trustees had power to accumulate income until 29 August 2010.
The trust has a particular emphasis on social development, and on
community benefrt. The Chanty achieves its objectives for the public
benefit by making grants to other charitable bodies at the discretion of the
trustees, having regard to the public benefft guidance published by the
Charity Commission.
Activities:
Achievements and performance
Revlew of activities:
Distributions totalling £95,205 were made during the year to a number of
beneficiaries. Further detsils of distributions are shown in note 5 to the
accounts.
Financial revlew:
Total income was £72.162.74 (2023.. £58.049) with expenditure amounting
to £186,970.91 (2023: £40.797). Net assets at the end of the year were
£2.221.141.80 (2023: £2.074,888).
Grant making Policy".
The trustees make grants to further Ihe objects of the charity in accordance
viith their grant-making policy.
Reserves:
The trustees had power to accumulate income until 2010. but they have not
retained any reserves of accumulated income.
In accordance with the charitys reserve policy. the trustees are not required
to retain reserves for any specific purpose.
Page 2

The CJM Charitable Trust
Dated 29 August 1989
Trustees. Annual Report
for the year ended 30 September 2024
Investment Policy:
The trustees, investment portfolio is rnanaged by Sarasin & Partners and is
held in Sarasin Apha CIF for EndowTnents a specialist investment fund for
charities.
The portfolio appreciated by 16.3% during the year. slightly lagging its
benchmark. vthich appreciated by 17%. The portfolio has outperformed
peers over 5 years. annualising 6% versus 4.5Yo (ARC Steady Growth
Charity). The portfolro gives the trust's capital a healthy diversified mix of
asset classes. geographies, and currency and the trustees are satisfied that
it is an appropriate investment for their level of funds and attitude to risk.
Signed:
Chris Marks
on behaw of the trustees
Date:
1210612025
Page 3

Independent Examinerfs Report to the Trustees of
CJM Charitable Trust
I report to the charity trustees on my examination of the accounts of the charty ft)r the year ended 30
September 2024 which are set out on pages 1 to 10.
Responsibilities and basfs of report
As the charity's trustees you are responsible for the preparation of the accounts in accordan￿ with the
requirements of the Charities Act 2011 ('the ACV).
l ￿port in respect of my examination of the charity's accounts carried out under section 145 of the Act
and in carrying out my examination I have followed all the applicable Directions given by the Charity
Commission under section 145{5)(b) of the ACL
Independent examinerfs statement
I have completed my examination. l confim that no material matters have come to my attention in
connection with the examination giving cause to believe that in any material respecL
accounting records were not kept in ￿spect of the charity as required by section 130 of the
ACL or
2. the accounts do not accord with those records" or
3. the accounts do not comply with the applicable requirements concerning the form and content
of accounts set out in the Chartties {Accounts and Reports) Regulations 2008 other than any
requirement that the accounts give a 'true and fair view which is not a matter considered as
part of an independent examination.
I have no concems and have come across no other matters in connection with the examination to which
attents'on should be drawn in this report in order to enable a proper understanding of the accounts to be
reached.
Signed:
steve Robinson FCA
Mercer & Hole LLP
72 London Road
St Albans
Herts
AL1 1NS
Date:
Page 4

The CJM Charitsble Trust
Dated 29 August 1989
Statement of Financial Activities
for the year onded 30 September 2024
2024
2023
Endowment
Funds
Unrestricted
Funds
Total
Endowment Unrestricted
Funds
Funds
Total
Noto
Income and endowments:
Investment income
Other income
Income tax recoverable on Gift Aid
57,882.40
1,780.34
12 500.00
72 162.74
57.882.40
1,780.34
12,500.00
72 162.74
56,408
1,641
56,408
1,641
Expendlture on:
Income tax not recoverable
Costs of raising funds
Investment manager's fees
Charitable activities
75,000
75,000
314.56
314.56
111,656.35
186.970.91
448
448
40.349
111656.35
186 656.35
40,349
314.56
448
Net in¢omel(expenditure) before net
gainsl{losses) on investments
(314.56) (114,493.61) (114,808.171
(448)
17,700
17,252
Net gainsl(Sosses) on investments
261062.00
261,062.00
54,731
Net Incomel{expendlture}
260,747.44 (114,493.61)
146,253.83
54,283
17,700
71,983
Reconciliation of funds
Total funds brought fonNard
1745,054.22
329,833.75 2,074,887.97
1690 771
312 134 2 002,905
Total funds carried forward
2 005,801.66
215 340.14 2,221,141.80
1745 054
329 834 2 074 888
Page 5

The CJM Charitable Trust
Dated 29 August 1989
Balance sheet
30 September 2024
2024
2023
Fixed assets
Listed irNestments at mat1(et value
2.179.982.00
1,964,976
Current assets
Investment managers. accounts
Income tax recoverable on Gtft Aid
43.1W4.38
12.500.¢J)
37,620
75,C
Bank balance
40.494.45
95.998.83
158.055
Liabilities
Creditors: amounts falllng due withln one year
Loan from Mr CJ Marks
Legal charges
Accountants, arml independent examinefs ¢harges
34.523.03
6,936.00
13.380.00
54,839.03
31.463
16.680
48,143
Net current assetsJ(Ilabllltiesl
41,159.80
109.912
Net assats
2.221.141.80
2 074 888
Allocatlon of the charity net assets:
The net assets are held for the various funds as follo￿..-
Expendable endowment
2.CM)5.801.66
1.745.054
Unrestricted income funds
Total ¢harity funds
215.340.14
2.221.141.80
329,834
2 074.888
1210612025
Approved by the trustees on ................................. signed on theirbehalfby
Chris Marks
. Trustee
Page 6

The CJM Charitable Trust
Datsd 29 August 1989
Notes to the accounts
for the year ended 30 September 2024
Accountlng policies
a) Accounting convention
The Charity constitutes a public benefit entity as defined by FRS102. The financial statements have
been prepared in accordan￿ with Accounting and Reporting by Charrties.. 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 (FRS102) issued on 16
July 2014 {as updated through Update Bulletin 1 published on 2 February 2016). the Financial
Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102), the
Charitses Act 2011, and UK Generally AC￿pted Accounting Practi￿.
The financial statements have been prepared to give a 'true and fairf view and have therefore
necessarily departed from the extant Charities (Accounts and Reports) Regulations 2008 only to
the extent required to provide a 'true and fairf view. This departure has involved following the
Statement of Recommended Practice.. Accounting and Reporting by Charities applicable to
charities preparing their financial statements in accordance with the Financial Reporting Standard
applicable in the LIK and Republic of Ireland (FRS 102) issued on 16 July 2014.
The accounts are prepared in sterling, which is the functional cU￿ency. Monetary amounts in these
financial statements are rounded to the nearest penny.
b) Going concem
The trustees consider that there are no material uncertainties about the Trust's ability to continue as
a going COn￿rn. There are no material uncertainties affecting the current yearfs accounts.
In future years, the key risks to the Trust are fluctuation in the value of their investrnent and a fall in
investment and a fall in investrnent income but the trustees have arrangements in place to mitigate
those risks by delegating the management of the portfolio to professional managers and regularly
reviewing their performan￿.
c) Income
Dividend income and interest from investrnent managers are received gross and shown gross.
d) Investments
All investments held are listed on a recognised stock exchange and are included in the accounts at
their market value.
e) Grants payable
Grants are included in the accounts when paid.
Governance costs
These are the costs associated with the govemance arrangements of the charity which relate to the
general running of the charity as opposed to those costs associated with fundraising or charitable
activity. The costs will normally include intemal and external audit. legal advice for trustees and
costs associated with constitukn'onal and statutory requirements e.g. the cost of trustee meetings
and preparing ststutory accounts. Included within this category are any costs associated with the
strategic as opposed to day to day management of the charity's actsvities.
Page 7

The CJM Charitable Trust
Dated 29 August 1989
Notes to the accounts
for the year ended 30 September 2024
Accounting policies (continued)
g) Foreign exchange
Monetary assets and liabiltties denominated in foreign currencies are translated into sterling at the
rates of exchange ruling at the balance sheet date. Transacts"ons in foreign currencies are recorded
at the rate ruling at the date of transaction. All differen￿$ are taken to the Statement of Financial
Activities.
h) Transfers between funds
The trustees transfer funds from expendable endowment to income to fund grants and donations
as these are made.
Endowment fvnd - income
Any gifts made to the Charity as additions to the endowment fund will be treated as expendable
endowment unless otherwise directed by the donor.
J)
Expenditure and irrecoverable VA T
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a
third party, it is probable that settlement will be ￿qUIred and the amount of the obligation can be
measured reliably. Expenditure is classified under the following activity headings..
Expenditure on charitable activities includes costs of exhibitions and other educational
activities undertaken to further the purposes of the charity
Other expenditure represents those items not falling into any other heading.
Irrecoverable VAT is charged as a cost against the activity for which the expendtture was incurred.
kj Debtors
Trade and other debtors are recognised at the settlement amount due after any discount offered.
Prepayments are valued at the amount prepaid after taking account of any discounts offered.
l) Cash and cash equivalents
Cash and cash equivalents includes cash and short temi highly liquid investments with a short
maturity of three months or less from the date of acquisition or opening of the deposit or similar
account.
m) Creditors and pmvisions
Creditors and provisions are recognised when the charity has a present obligation resulb.ng from a
past event that will probably result in the transfer of funds to a third paty and the amount due to
settle the obligation can be measured or estimated reliably.
Creditors and provisions are normally recognised at their settlement amount after allowing for any
discounts due.
Page 8

The CJM Charitsble Trust
Dated 29 August 1989
Notes to the accounts
for the year ended 30 September 2024
Flxed asset investment
2024
2023
Market value at 30 September 2023
Additions
Disposals
Net realised investment gainsl(losses)
Net unrealised investment gainsl{losses)
Market value at 30 Septsmber 2024
1.964,976.00
1,910.245
(46,056.00)
3.382.00
257.680.00
2.179,982.00
54,731
1,964,976
Historical cost at 30 September 2024
1.649,043.37
1,691,717
The trustees, investrnent consists of 936,000 units in the Sarasin Endowments Fund, and 770,000
units in the Sarasin Climate Active Endowments Funds. These are collective investment schemes
specifically for charits'es.
Investment income
Investment income of £57.882.40 VRS re￿iVed during the year (2023.. £56,408).
Charitable activities
2024
2023
Grants and donations (note 5)
Govemance costs (below)
95,205.00
16,451.35
111,656.35
34,309
6,041
40.350
2024
6.936.00
5,400.00
3.600.00
515.35
16.451.35
2023
Legal charges
Accountants. charges
Independent examinerfs charges
Bank charges
3,060
2,600
381
Material Donations
The following donations were made to institutions during the year
2024
2023
Network for Social Change
Harlow Citizens Advice Bureau
Music Education Partnership
Peace Brigades Intemats'onal
72.800.00
12.405.00
10,000.00
29.309
5,000
34,309
95,205.00
Social Welfare
95 205.00
34,309
Employees
The charity had no employees during the period.
Trustees remuneration and expenses
During the period the trustees, rernuneration and reimbursed expenses were nil (2023: nil).
Page 9

The CJM Charitable Trust
Dated 29 August 1989
Notes to the accounts
for the year ended 30 September 2024
Transactlons with related parties
At the year end, a loan of £34.523.03 (2023: £31,463) from Mr CJ Marks. the settlor and
trustee of the charitable trust. remained outstsnding. During the year the trust incurred fees
of £6,936 (2023.. £nil) for legal services from Farrer & Co LLP. Farrer & Co LLP is related to
Farrer & Co Trust Corporation Ltd.
9. Analysis of net assets between funds
2024
Endowment
Funds
Unrestricted
Funds
Total
Funds
Fixed assets
Net current assets
2,179.982.00
174,180.34
2.005.801.66
2,179,982.00
41,159.80
2.221,141.80
215,340.14
215,340.14
2023
Endowment
Funds
Unrestricted
Funds
Total
Funds
Fixed assets
Net current assets
1.964,976
219.922
1,745,054
1,964,976
109 912
2,074,888
329,834
329,834
Page 10