REGISTERED CHARITY NUMBER: 046092
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 October 2024
for
The Jim Clark Trust
EQ Accountants Ltd 47-49 The Square Kelso Roxburghshire TD5 7HW
Document ID: 8211bcee-29ab-439c-b79a-4e515c52d581
The Jim Clark Trust
Contents of the Financial Statements for the Year Ended 31 October 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 5 |
| Independent Examiner's Report | 6 | ||
| Statement of Financial Activities | 7 | ||
| Statement of Financial Position | 8 | ||
| Notes to the Financial Statements | 9 | to | 13 |
| Detailed Statement of Financial Activities | 14 | to | 15 |
Document ID: 8211bcee-29ab-439c-b79a-4e515c52d581
The Jim Clark Trust
Report of the Trustees for the Year Ended 31 October 2024
The trustees present their report with the financial statements of the charity for the year ended 31 October 2024. The trustees have adopted the provisions of 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).
OBJECTIVES AND ACTIVITIES Objectives and aims
The purposes of the SCIO are:
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(i) to advance and promote education on Jim Clark; including his life, his inspiration and his racing career, his achievements, and to educate the general public on the history, development and current practice of motor sports including, technology, engineering and design, by arranging and participating in events and producing and issuing literature and publications;
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(ii) to promote and preserve the inspiration, legacy and heritage of Jim Clark within the Scottish Borders and his worldwide fan base by acquiring, obtaining and preserving items of memorabilia for public display, and through initiatives, projects and working with third parties;
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(iii) to support the development and running of the Jim Clark Motorsport Museum in Duns, by working in partnership with the Scottish Borders Council and Live Borders, to include fundraising for the museum; and
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(iv) to promote similar charitable purposes, objects or institutions in such proportions and manner as the Trustees think fit.
Significant activities
To achieve the purposes of the SCIO, the year under review has seen the SCIO undertake the following activities, among others:
(i) Promoted the legacy and achievements of Jim Clark and Scottish motor sport through our website and social media platforms.
(ii) Created and distributed digital and print information on the life and career of Jim Clark to support the themes of Education, Heritage and Inspiration.
(iii) Supported and promoted the legacy of Jim Clark through working with institutions, organisations, individuals, volunteers and other third parties to celebrate his life and create economic benefit to the area of Duns and the wider Scottish Borders.
(iv) To support the development and running of the Jim Clark Motorsport Museum in Duns,by working in partnership with the Scottish Borders Council and Live Borders, to include fundraising for The Jim Clark Motorsport Museum; and to promote similar charitable purposes, objects or institutions in such proportions and manner as the Trustees see fit.
(v) Invested in our Jim Clark Café Bistro business to enhance the experience of visitors to The Jim Clark Motorsport Museum and support the Duns local community and economy through the benefits of tourism.
(vi) To maintain our online shop and to ensure a sustainable income stream for The Jim Clark Trust. We have worked closely with brands, artists and authors to add a wide range of products. All profits are re-invested into The Jim Clark Trust
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Document ID: 8211bcee-29ab-439c-b79a-4e515c52d581
The Jim Clark Trust Report ofthe TrllstÈes ror thèyttr EDded 31 (ktobor 2024 AND PERFORTrIAliCE ChAritab]e achiei'ements The Tn]st would bke to beyn IM]r reimxl a SI thaDk yow to all our siwrter& partsiers and i"olutLteers kn.e assisied. mryth0 th¢)] the success of The Clark Trusl. The J1 Clak Molimw museu and Jillh Clad Cafe Bistro would Dot ha'e beell possible. We are itthbted to your swycd. Thtoiighoiit the year. The j1 Clark Tntsi has Wotked c1(lY Scollish Bth Council (SBC) and Lii'e Borday (LB) u'itli Project Board M¢etill8s and Owatithwl Part[ Me¢iin8s. as '¢ll plaTWiU& ardut¢ctural desi delil'ery. 1¢¢. Opting plans. ¢xhibiliQ) illi•tii)n. nbIll0. bDndin8 and n)athding of the Jijn Clad( The Jim C]ark TnLSt actiiities acmss the year. to cdelnte the life of Jim Cl8rk sw)pcfft the MusewD incllldin8 fUndlti& ll]atkeiins. PK Media Re]atioLs. website. social eeletters. database lnai]a8eent. productioll. phoio8raphy. n1erc]w. Dn}rabIll& TeseaTcIL IT. le8aL Fillance adDuJllstratio The Jim Clark Trust (JCT) has had another SLKce5sfid year. The Jim Clark MOtor5p Musewn (JCMM) l]as continiied lo be a siicce5s. the Jim cl Cafe Bistro has caiered ll]any lisito and the j1 Clark Trail has be1 enjoyed by all a5 they trdi'el throiish the Scottisli Borda5. The j1 Clark Fan Club and Mellmwabilia FacebLM)k paBe boasls OIYT 10.(M)O niailbe M'orldw'ide. We hai"e a preSee aKhd proiide knis1(c social posts ou FaCebk Tw'itter Jnsiaw. On 30th No1'eM 2023. The Jijn Cl• Moi(ryon Museum cked f the season. the aitta¢ted oi'er 9.7( i$itors On 1st March 2024. The Jim Clark Mot(ff4KYt Museum Tewed for the sew(L The Musc with its p(yular ttra¢tions llieludin8 the Jim C]ark Story. ¢inen)8. children's Lw iabl¢. troKY toojn aud display. al18 widi a photO8raph ex1)11. Tr cots on di4)]ay okrr the Seas were the Lotw 38. D Tiye JaBuar tlie MTrl LottLS CoTtitJa. In April. the Gold He1nl loaned fLY display in the Jim Clark morsP Museum s?1b011Zes ihe renMrkable acluel.11enfS of J1 Clark. Aw'arded by Sps0[5 Esso iu recogiition of Ills w4walleled succes5 in 1965. Illi5 coiiu]ieii]OTaies Clth's dLkql trilL5 in the FonDula One Wd Challyonslup and the Indi115 W wiihin the ne calendar yeaT. The he]met feafttres ID intiicaiefy enwai'ed Horld w oll its adomed M'ith inkncately set Coloud siones thai reKYeseni each ¢ountry Clark ¢launed iictory iti an Fl e. &$ well as the presti0$ Indy S. and ett marks hts belwwj Ib)nk ai Edth8t Mains iti Chtrnside. On 12h May 2024. the Clth TphY and Skn'eld held ai BriSCA F2 Si(Kk. C-ai Il'orld C'li1111101I5lllP Lil1ifv'iii8 Round. Cw'deiib¢aih and kyesented by the Jim TnLSi. r¢presaii¢d by" This n¢e prm'i(kd 1 ¢xien5ii¢ field of driitrs ¢oiiWui8 for Wotld Cli1)1)10174IllL) (iikilill'iiiz Ix)iiil%. Tli¢ troplLy il'as w1 by car Tyres wer¢ kindly by alon8 7th Thirts Ik*nated by Jiui Clark TnLSt Oll 19th May 2024. The Jim Clark Tn artended the BordLYS Villta8e A8riculhral AssoCi¥Lti) sliow at Spiin8M'(MxI Park lli kelso. This allnual es'ellt (hsplays a Dlultihxk of iinlase alld classic a8ncultural trdctors and other n)achinery alon8 Thlth cOll]nla1 'ehIcleS and 105 car clubs w'ith iilltase atKI classic cat5 atld car i¥)ot sale 15 a150 held io the pmutlds. The j] Ck T] a[1d won a cup for the best colledirn of A 8wd (ypoi1uty lo Tr0te tbe j1 cl Tt aud the MweuD]. Oll Jwie 16th. the Ttwt elljoyed a delighrfuj afternl at the ToJKD]e Tt47 itl Re(L BeThvicksbirt. selection of was ak"ai]able lo purchas¢. On Sill)&?y. Jijne 2nd the TnLSt attded the BIT4f ThtfIhne Castle Mrnt. We shou'cased some stunninB I'ehicles. ixJcIILdiIi8 tlie icoijic YelloM' Elan. courtesy ol" we also tbrilled to Ile a LohL% 32B beloll8iti8 to oxig with an Escort bUte lo which is by oix]in8 our linew) al dLe adjniralion of the croH Pa8e 2 D(Kument ID.. 8211 bcee-29aEk439c.b79aAeSlS(52d581
The Jim Clark Trust
Report of the Trustees for the Year Ended 31 October 2024
A particularly memorable weekend was the 29th and 30th of June, marked by the successful launch of Derek Wild's book 'Wild About Racing', at the Jim Clark Motorsport Museum. His book signing was complemented by an engaging Q&A session, much to the delight of an appreciative audience.
The Trust had the privilege of displaying memorabilia from the late Ian Scott Watson and adding a touch of history to the occasion.
We were also proud to support Eyemouth and Duns High Schools as they showcased two electric vehicles that the students had built and raced-a brilliant initiative supported by the Jim Clark Trust, who supply trophies for these exciting races.
On the 6th July 2024, Jim Clark Trust along with the Bistro, sponsored a truck in the Berwickshire Charity Truck Run to the sum of £500. This contributed to the overall total of £44,000 that was raised for local charities.
In July, the Trust ventured to Oulton Park for the exhilarating Gold Cup race meeting. This event allowed us to reconnect with old friends and forge new connections over the thrilling weekend. A highlight was presenting the Jim Clark Trophy to who showcased remarkable skill by scoring the most points across the two days of racing. Additionally, we celebrated who triumphed in the Gold Cup race.
In August, Knockhill Racing Circuit was the location for the seventh event of the British Touring Car Championship. This was significant for the Jim Clark Trust as it was 60 years since Jim won the British Saloon Car Championship. On the Friday prior to the event, Knockhill arranged for 5 special cars to drive across a closed Queensferry Crossing. This included Mk 1 Lotus Cortina 550 VAR and JTW 497C, the Yellow Lotus Elan along with 2 racing Lotus Cortina's. We were joined later in the day with an Alan Mann car that Jim drove in USA. The cars were invited to drive on the track at Knockhill on Saturday and Sunday which was a spectacular sight to see.
. On August 9th,10th & 11th 2024, Jim Clark Trust attended the Kwik Fit British Touring Car Championship at Knockhill. The Trust had a display of 4 Mk1 Lotus Cortina, 2 of them were previously driven by Jim Clark, a Lotus Elan and an Allan Mann Car. The cars were given the honour to drive over the Queensferry Crossing bridge over the Forth to celebrate 60 years of the Forth Road Bridge being opened. Unfortunately, due to road works we were unable to drive over the Forth Road Bridge, but to drive over a closed road was very exhilarating. The Trust also ran a draw for the most popular BTCC driver and presented a cup to with a voucher for tickets for the Museum and BTCC tickets for 2025 to a voter who was drawn at random. We also had a selection of merchandise for sale. This was beneficial for the Trust and generated interest for the Museum.
visited Eyemouth High School who build their own EV and Goblin cars and compete against other schools including Duns High School, the Trust were shown the cups that the school have won. The Trust have donated the trophies for the competitions which the schools are keen to participate and further competitions are planned for 2025. Over the last year there have been 180 drivers of the Chariots and over 400 pupils involved.
A newsletter was sent to over 10,000 supporters advising them of events the Trust attended and included a QR code with a link to our online shop which helps with our online sales heading to Christmas along with a Save the Date reminder for our event in June 2025.
Various car clubs attended the Museum during the 2024 season and were given a welcome from on behalf of the Trust and also the majority of the clubs visited the Bistro for some refreshments with some completing the Jim Clark Trail.
The Jim Clark Cafe Bistro registered as a separate Limited company with one share owned by The Jim Clark Trust continued to thrive.
The Jim Clark Trust appointed two new Trustees, Gregor Barr and Michael Deans, to The Jim Clark Trust in February 2024. Their diverse expertise and passion for our cause will undoubtedly enrich our organisation and contribute to our continued success. We welcomed them on board in February and look forward to their valuable contributions, they have both been active volunteers in recent years so have a good grounding about how the Trust operates, runs events and promotes the legacy of Jim Clark.
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Document ID: 8211bcee-29ab-439c-b79a-4e515c52d581
The Jim Clark Trust
Report of the Trustees for the Year Ended 31 October 2024
The Jim Clark Trust:
FINANCIAL REVIEW Financial position
The financial position of the SCIO is shown in the attached financial statements.
Management and Administration has included engaging with Scottish Borders Council, Live Borders and the Jim Clark Motorsport Museum, working with a wide range of companies in support of the Trust and supporting fundraising, marketing, and events.
FUTURE PLANS
Looking to the future the Trust aims to continue to work closely with SBC and LB to support the success of the Jim Clark Motorsport Museum, in accordance with the Partnership and Operating Agreements signed by the project partners. The key areas of support being financial funding, marketing, licensing and merchandise, events and the acquisition of race cars and memorabilia.
The plan for the remainder of 2024 and into 2025 is to keep The Jim Clark Trust visible to the public and focus on long-term sustainability. We have various plans in place to help continue our mission of promoting Jim Clark to a global audience. We would like to look further towards Museum extension plans whilst ensuring the Museum has fresh items for display. We have listened to feedback and are hopeful of introducing more products to our online shop at more affordable prices for all, and to encourage more sales and ultimately get more people interested and representing Jim Clark Trust. An important focus for the future of The Jim Clark Trust will be to support The Jim Clark Motorsport Museum and the Jim Clark Cafe Bistro to attract and enhance the experience of visitors, with the added benefit of supporting the local Duns economy and community. By further publicising the Jim Clark Trust Trail we will help to encourage visitors to the Museum, to visit the Cafe Bistro and enjoy a driving tour celebrating the beauty of the Scottish Borders, the rich heritage of motorsport and wider local attractions linked to the Jim Clark story. We hope to support plans to develop the visitor experience in Chirnside through the erection of Information Boards and the enhancement of Chirnside Parish Church's grounds. Improving the Trust's website and growing our social media channels and further exploring the opportunity of commercial partnerships and fundraising opportunities will form part of wider marketing plans for long term sustainability. The Jim Clark Trust plans to attract car clubs, explore plans for classic car tours and to continue to be proactive at events to promote the Museum, fundraising opportunities and the core themes of Heritage, Education and Inspiration.
The Trust is holding a Jim Clark 60th Anniversary Celebration Weekend on 28th & 29th June 2025 to celebrate Jim Clark's momentous success in 1965 and planning is well under way, working with volunteers and local businesses.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity was set up and was recognised as a Scottish charity with effect from 30 October 2015. The charity is a Scottish Charitable Incorporated Organisation (a SCIO). The charity is administered in accordance with the terms of the constitution.
Recruitment and appointment of new trustees
The Trustees shall be individuals who are committed to the purposes of the SCIO. At least one Trustee must be resident in Scotland.
There shall be a minimum of three and a maximum of seven Trustees of the SCIO, and at least two of the Trustees must be Family Trustees.
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Document ID: 8211bcee-29ab-439c-b79a-4e515c52d581
The Jim Clark Trust
Report of the Trustees for the Year Ended 31 October 2024
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 046092
Independent Examiner
EQ Accountants Ltd 47-49 The Square Kelso Roxburghshire TD5 7HW 30/06/2025 Approved by order of the board of trustees on ............................................. and signed on its behalf by:
..........
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Document ID: 8211bcee-29ab-439c-b79a-4e515c52d581
Independent Examiner's Report to the Trustees of The Jim Clark Trust
I report on the accounts for the year ended 31 October 2024 set out on pages seven to thirteen.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention.
Basis of the independent examiner's report
My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
Independent examiner's statement
In connection with my examination, no matter has come to my attention :
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(1) which gives me reasonable cause to believe that, in any material respect, the requirements
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to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and
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to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
EQ Accountants Ltd 47-49 The Square Kelso Roxburghshire TD5 7HW
01/07/2025 Date: .............................................
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Document ID: 8211bcee-29ab-439c-b79a-4e515c52d581
The Jim Clark Trust
Statement of Financial Activities for the Year Ended 31 October 2024
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 4,408 Other trading activities 2 41,224 Other income 4 Total 45,636 EXPENDITURE ON Raising funds 46,548 Charitable activities Brand awareness 9,084 Total 55,632 NET INCOME/(EXPENDITURE) (9,996) RECONCILIATION OF FUNDS Total funds brought forward 271,262 TOTAL FUNDS CARRIED FORWARD 261,266 |
Restricted fund £ - - - - - - - - - - |
31.10.24 31.10.23 Total Total funds funds £ £ 4,408 20,339 41,224 83,146 4 27 45,636 103,512 46,548 69,592 9,084 14,576 55,632 84,168 (9,996) 19,344 271,262 251,918 261,266 271,262 |
31.10.24 31.10.23 Total Total funds funds £ £ 4,408 20,339 41,224 83,146 4 27 45,636 103,512 46,548 69,592 9,084 14,576 55,632 84,168 (9,996) 19,344 271,262 251,918 261,266 271,262 |
|---|---|---|---|
| 103,512 | |||
| 69,592 14,576 |
|||
| 84,168 | |||
| 19,344 251,918 |
|||
| 271,262 |
The notes form part of these financial statements
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Document ID: 8211bcee-29ab-439c-b79a-4e515c52d581
The Jim Clark Trust
Statement of Financial Position 31 October 2024
| Unrestricted fund Notes £ FIXED ASSETS Investments 6 1 CURRENT ASSETS Stocks 7 30,270 Debtors 8 87,209 Cash at bank 146,526 264,005 CREDITORS Amounts falling due within one year 9 (2,740) NET CURRENT ASSETS 261,265 TOTAL ASSETS LESS CURRENT LIABILITIES 261,266 NET ASSETS 261,266 FUNDS 10 Unrestricted funds TOTAL FUNDS |
Restricted fund £ - - - - - - - - - |
31.10.24 Total funds £ 1 30,270 87,209 146,526 264,005 (2,740) 261,265 261,266 261,266 261,266 261,266 |
31.10.23 Total funds £ 1 34,564 86,463 152,834 273,861 (2,600) 271,261 271,262 271,262 271,262 271,262 |
|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on .................... ..... .................. and were signed on its behalf by: 30/06/2025
The notes form part of these financial statements
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Document ID: 8211bcee-29ab-439c-b79a-4e515c52d581
The Jim Clark Trust
Notes to the Financial Statements for the Year Ended 31 October 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, 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 Charities and Trustee Investment (Scotland) Act 2005. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer Equipment - 3 years straight line
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
continued...
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Document ID: 8211bcee-29ab-439c-b79a-4e515c52d581
The Jim Clark Trust
Notes to the Financial Statements - continued for the Year Ended 31 October 2024
2. OTHER TRADING ACTIVITIES
| OTHER TRADING ACTIVITIES | ||
|---|---|---|
| 31.10.24 | 31.10.23 | |
| £ | £ | |
| Fundraising events | 5,582 | 26,527 |
| Merchandise sales | 35,642 | 56,619 |
| 41,224 | 83,146 |
3. TRUSTEES' REMUNERATION AND BENEFITS
No trustees received remuneration or benefits for their services.
Trustees' expenses
During the year £969 (2023: £114) of expenses were re-imbursed to trustees in relation to travel, subsistence and accommodation expenses.
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 20,339 Other trading activities 83,146 Other income 27 Total 103,512 EXPENDITURE ON Raising funds 69,592 Charitable activities Brand awareness 14,576 Total 84,168 NET INCOME 19,344 RECONCILIATION OF FUNDS Total funds brought forward 251,918 TOTAL FUNDS CARRIED FORWARD 271,262 |
Restricted fund £ - - - - - - - - - - |
Total funds £ 20,339 83,146 27 |
|---|---|---|
| 103,512 | ||
| 69,592 14,576 |
||
| 84,168 | ||
| 19,344 251,918 |
||
| 271,262 |
continued...
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Document ID: 8211bcee-29ab-439c-b79a-4e515c52d581
The Jim Clark Trust
Notes to the Financial Statements - continued for the Year Ended 31 October 2024
| 5. | TANGIBLE FIXED ASSETS | ||
|---|---|---|---|
| Computer | |||
| equipment | |||
| £ | |||
| COST | |||
| At 1 November 2023 and 31 October 2024 | 2,279 | ||
| DEPRECIATION | |||
| At 1 November 2023 and 31 October 2024 | 2,279 | ||
| NET BOOK VALUE | |||
| At 31 October 2024 | - | ||
| At 31 October 2023 | - | ||
| 6. | FIXED ASSET INVESTMENTS | ||
| 31.10.24 | 31.10.23 | ||
| £ | £ | ||
| Other | 1 | 1 | |
| There were no investment assets outside the UK. | |||
| Investments (neither listed nor unlisted) were as follows: | |||
| 31.10.24 | 31.10.23 | ||
| £ | £ | ||
| Investment in subsidiary | 1 | 1 | |
| 7. | STOCKS | ||
| 31.10.24 | 31.10.23 | ||
| £ | £ | ||
| Stocks | 30,270 | 34,564 | |
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 31.10.24 | 31.10.23 | ||
| £ | £ | ||
| Donation Debtor | - | 1,314 | |
| Intercompany loan | 81,835 | 76,982 | |
| Prepayments and accrued income | 5,374 | 8,167 | |
| 87,209 | 86,463 |
continued...
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Document ID: 8211bcee-29ab-439c-b79a-4e515c52d581
The Jim Clark Trust
Notes to the Financial Statements - continued for the Year Ended 31 October 2024
| 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Other creditors 10. MOVEMENT IN FUNDS At 1.11.23 £ Unrestricted funds General fund 271,262 TOTAL FUNDS 271,262 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 45,636 TOTAL FUNDS 45,636 Comparatives for movement in funds At 1.11.22 £ Unrestricted funds General fund 251,918 TOTAL FUNDS 251,918 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 103,512 TOTAL FUNDS 103,512 |
31.10.24 31.10.23 £ £ 341 318 2,399 2,282 2,740 2,600 Net movement At in funds 31.10.24 £ £ (9,996) 261,266 (9,996) 261,266 Resources Movement expended in funds £ £ (55,632) (9,996) (55,632) (9,996) Net movement At in funds 31.10.23 £ £ 19,344 271,262 19,344 271,262 Resources Movement expended in funds £ £ (84,168) 19,344 (84,168) 19,344 |
|---|---|
continued...
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Document ID: 8211bcee-29ab-439c-b79a-4e515c52d581
The Jim Clark Trust
Notes to the Financial Statements - continued for the Year Ended 31 October 2024
10. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.11.22 £ 251,918 251,918 |
Net movement in funds £ 9,348 9,348 |
At 31.10.24 £ 261,266 |
|---|---|---|---|
| 261,266 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 149,148 | (139,800) | 9,348 |
| TOTAL FUNDS | 149,148 | (139,800) | 9,348 |
11. RELATED PARTY DISCLOSURES
The Jim Clark Trust owns 100% of it's subsidiary the Jim Clark Cafe Bistro.
As at 31 October 2024, there was a balance of £81,835 (2023: £76,982) due to the Trust from the Bistro.
During the year a total of £3,000 was paid to Trust Secretary) (2023: £1,600) in relation to payment for marketing work.
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Document ID: 8211bcee-29ab-439c-b79a-4e515c52d581
The Jim Clark Trust
| Detailed Statement of Financial Activities | |||
|---|---|---|---|
| for the Year Ended 31 October 2024 | |||
| 31.10.24 | 31.10.23 | ||
| £ | £ | ||
| INCOME AND ENDOWMENTS | |||
| Donations and legacies | |||
| Donations | 4,408 | 20,339 | |
| Other trading activities | |||
| Fundraising events | 5,582 | 26,527 | |
| Merchandise sales | 35,642 | 56,619 | |
| 41,224 | 83,146 | ||
| Other income | |||
| Interest received | 4 | 27 | |
| Total incoming resources | 45,636 | 103,512 | |
| EXPENDITURE | |||
| Raising donations and legacies | |||
| Management, marketing & admin | 15,763 | 20,008 | |
| Fundraising costs | 1,970 | 6,521 | |
| 17,733 | 26,529 | ||
| Other trading activities | |||
| Opening stock | 34,564 | 39,442 | |
| Purchases | 24,521 | 38,185 | |
| Closing stock | (30,270) | (34,564) | |
| 28,815 | 43,063 | ||
| Charitable activities | |||
| Insurance | 1,881 | 2,292 | |
| Sundries | 410 | 237 | |
| Travel and subsistence | 1,229 | 114 | |
| IT and website costs | 1,322 | 1,688 | |
| Donations made | 500 | 5,655 | |
| 5,342 | 9,986 | ||
| Support costs | |||
| Finance | |||
| Bank charges | 132 | 282 | |
| Other | |||
| Rental of office at Platform 1 | 1,492 | 1,492 | |
| Other 2 | |||
| Computer equipment | - | 800 |
This page does not form part of the statutory financial statements
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Document ID: 8211bcee-29ab-439c-b79a-4e515c52d581
The Jim Clark Trust
| Detailed Statement of Financial Activities | |||
|---|---|---|---|
| for the Year Ended 31 October 2024 | |||
| 31.10.24 | 31.10.23 | ||
| £ | £ | ||
| Other 2 | |||
| Governance costs | |||
| Accountancy fees | 2,118 | 2,016 | |
| Total resources expended | 55,632 | 84,168 | |
| Net (expenditure)/income | (9,996) | 19,344 |
This page does not form part of the statutory financial statements
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Document ID: 8211bcee-29ab-439c-b79a-4e515c52d581