John Atcheson Foundation Company No. Trustees' Report For The Year Ended 5 April 2025
The trustees present their report and the financial statements for the year ended 5 April 2025. nt their report and the financial statements for the year ended 5 April 2025.
Objectives and Activities ctivities
Additional Note
The Trustees present their report and accounts for the year ended 5 April 2025. The Trustees have adopted the provisions ‘sent their report and accounts for the year ended 5 April 2025. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the t of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity. id financial statements of the charity.
The financial statements have been prepared in accordance with the accounting policies set out on pages 7 to 11 and tements have been prepared in accordance with the accounting policies set out on pages 7 to 11 and comply with the Charities Act (Northern Ireland) 2013, applicable law and Accounting and Reporting by Charities: Charities Act (Northern Ireland) 2013, applicable law and Accounting and Reporting by Charities:
Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial commended 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 31 January 2022). ard applicable in the UK and Republic of Ireland (FRS 102) (effective 31 January 2022).
Structure, Governance and Management nance and Management
Governing Document ument
The John Atcheson Foundation (“the Trust”) is an unincorporated trust, constituted under a Will Trust dated 30 November on Foundation (“the Trust”) is an unincorporated trust, constituted under a Will Trust dated 30 November 1993 and is a registered charity, number 103846. The original Trustees were appointed by the Will of John Atcheson for an jistered charity, number 103846. The original Trustees were appointed by the Will of John Atcheson for an indefinite period.
The day-to-day management of the Trust is overseen by the Trustees and there is no senior management or staff Nnanagement of the Trust is overseen by the Trustees and there is no senior management or staff employed.
At the quarterly Trustees’ meetings, the Trustees agree the broad strategy of the Trust, including consideration of grant Trustees’ meetings, the Trustees agree the broad strategy of the Trust, including consideration of grant making, investment, reserves and risk management policies and performance. ent, reserves and risk management policies and performance.
The Trustees who served during the year were as follows: o served during the year were as follows:
Mrs Aileen Martin (Chair) 1 (Chair) Mr Chris McCleane (Secretary) 1e (Secretary) Mr John Knaggs Mrs Rosemary O’Callaghan ‘Callaghan Mr Mark Regan
Risk management ent
The Trustees actively review any major risks which the Trust faces on a regular basis and believe that maintaining reserves ively review any major risks which the Trust faces on a regular basis and believe that maintaining reserves at current levels, combined with an annual review of the controls over key financial systems, will provide sufficient , combined with an annual review of the controls over key financial systems, will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks faced event of adverse conditions. The Trustees have also examined other operational and business risks faced by the Trust and confirm that they have established systems to mitigate the most significant risks. confirm that they have established systems to mitigate the most significant risks.
Principal objectives and activities tives and activities
The objects of the Trust are to provide donations and other benefits to a number of charitable institutions, in particular ie Trust are to provide donations and other benefits to a number of charitable institutions, in particular those that benefit blind, disabled and/or elderly persons in the United Kingdom. it blind, disabled and/or elderly persons in the United Kingdom.
The activities during the year furthered the charity’s purposes for the public benefit. The Trustees have had regard to the ring the year furthered the charity’s purposes for the public benefit. The Trustees have had regard to the Charity Commission for Northern Ireland guidance on public benefit. sion for Northern Ireland guidance on public benefit.
During the year, the Trustees continued to make distributions to a number of organisations in the UK. The overall the Trustees continued to make distributions to a number of organisations in the UK. The overall distribution total for the year was £233,105 (2024: £155,500). The distributions are analysed individually below. for the year was £233,105 (2024: £155,500). The distributions are analysed individually below.
Financial review w
The results are set out on pages 5 and 6. In the year under review, income received from various investments totalled et out on pages 5 and 6. In the year under review, income received from various investments totalled £137,202 (2024: £135,167). Total distributions for the year were £233,105 (2024: £155,500). The value of the Trust’s net : £135,167). Total distributions for the year were £233,105 (2024: £155,500). The value of the Trust’s net assets as at 5 April 2025 was £3,603,789 (2024: £3,870,106). dril 2025 was £3,603,789 (2024: £3,870,106).
Investment powers and policy wers and policy
Apart from retaining a prudent amount in reserves each year most of the Trust’s funds are spent in the short term. Having iing a prudent amount in reserves each year most of the Trust’s funds are spent in the short term. Having considered the options available, the Trustees have invested a significant portion of the available funds in a portfolio of ptions available, the Trustees have invested a significant portion of the available funds in a portfolio of investments with the remaining funds investment in bank deposits. ) the remaining funds investment in bank deposits.
Reserves level
The Trustees aim to maintain sufficient free reserves to enable the Trust to maintain its distributions at its current level and, 1 to maintain sufficient free reserves to enable the Trust to maintain its distributions at its current level and, if possible, to increase it. crease it.
Trustees’ responsibilities sibilities
The Trustees are responsible for preparing the Trustees' Report and the financial statements. responsible for preparing the Trustees' Report and the financial statements.
...CONTINUED ...CONTINUED
Page 2 Page 2
John Atcheson Foundation John Atcheson Foundation
Trustees' Report (continued) Trustees' Report (continued)
For The Year Ended 5 April 2025 For The Year Ended 5 April 2025
Governing Document - continued Governing Document - continued
In preparing these financial statements, the Trustees are required to: In preparing these financial statements, the Trustees are required to:
-
e select suitable accounting policies and then apply them consistently; select suitable accounting policies and then apply them consistently;
-
e observe the methods and principles in the Charities SORP; observe the methods and principles in the Charities SORP;
-
¢ make judgements and accounting estimates that are reasonable and prudent; and make judgements and accounting estimates that are reasonable and prudent; and
-
¢ prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. continue in operation.
The The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position Trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the charity and enable them to ascertain to ensure that the financial statements comply with the Charities Act (Northern of the charity and enable them to ascertain to ensure that the financial statements comply with the Charities Act (Northern Ireland) 2013. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps Ireland) 2013. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. for the prevention and detection of fraud and other irregularities.
The The trustees' report was approved by the board of trustees and signed on its behalf by: trustees' report was approved by the board of trustees and signed on its behalf by:
Chas VY\o\eene
Mr Chris McCleane Mr Chris McCleane
Trustee Trustee Date Date 06 Feb 2026
Mr Mark Regan Mr Mark Regan Trustee Trustee
23 Feb 2026
Page 3 Page 3