THE WELLAND CHARITABLE TRUST ACCOUNTS year ended 5 APRIL 2024 THE WELLAND CHARITABLE TRUST Accounts for the year ended S APRIL 2024 INDEX Page Trustees, Report Independent Examiner's Report Statement of Assets and Liabilities Receipts and Payments Account Schedule of Charitable Distributions THE WELLAND CHARITABLE TRUST TRUSTEES, REPORT year ended 5 APRIL 2024 The name of the trust was changed from The Petronella Keeling Charitsble Trust to The Welland Charitable Trust on 1 February 2014. The Trustees present their report and the accounts for the year ended 5 April 2024. Reference and Administrative Details Charity Registered Number 1001981 Address The Old Dairy Mill Lane Stedham Midhurst GU29 OPR Trustees Rachel Petronella Keeling Andrew Piers Symons Keeling Roger Anthony Luke Keeling Accountants RNS Chartered Accountsnts The Poplars Bridge Street Brigg DN20 8NQ Bankers SG Kleinwort Hambros Bank Limited th 5 Floor 8 St James's Square London SW1Y 4JU Stockbrokers Kleinwort Hambros Societe Generale Group 5 Floor 8 St James's Square London SW1Y4JU Independent Examiner S Wilson FCA 27 Osborne Street Grimsby North East Lincolnshire DN311NU Structure, Governance and Management The charity is a trust created by a deed dated 23 January 1991 by Mrs P G Keeling who made a single payment donation under the Gift Aid Scheme in March 1991. The funds donated were invested in a portfolio of quoted shares and interest-bearing bank and building society accounts, the income from which was used to fund charitable distributions. Mrs P G Keeling remained a trustee until 1 February 2014. Prior to her retirement the investment portfolio was liquidated, at her request, and the proceeds distributed to charitable institutions. Replacement investments were purchased using funds donated under the Gift Aid Scheme by the present trustees who are the daughter and sons of Mrs P G Keeling and by the Hambledon Settlement, Isle of Man, of which they are beneficiaries. During the year to 5 April 2024 the portfolio of quoted investments was liquidated and, at the year end, the funds were held in accounts with SG Kleinwort Hambros. The power of appointment of trustees vests in Mrs P G Keeling during her lifetime. Page 1 THE WELLAND CHARITABLE TRUST TRUSTEES, REPORT (contlnued) year ended 5 APRIL 2024 Objectives and Activities The objectives of the charity are to make distributions of its income to established charitable institutions in order to assist their activities for the publi¢ benefit. The trustees confirm they have had due regard to the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future acts'vities. Achievements and Perfonnance During the year the trustees made distributions totalling £194,000 (2023.. £1,058,000) to established charitable institutions, as set out on page 6. Flnancial Review The trustees, policy is to preserve capital by retaining and reinvesting the proceeds from any income producing assets and to distribute each year the balance of income arising after provision for all known revenue expenses. Accounting Statements The accounts of the trustees for the year to 5 April 2024 comprise the statement of assets and liabilities at that date together with a re￿iptS and payments account for the year and a schedule of charitable distributions. There was an excess of receipts over payments of £171.733 (2023.. excess of payments over re￿Ipts of £820,200}, which when added to the cash funds brought forward resulted in cash funds at the end of the year of £250,008 (2023. £78,275) Advisers The portfolio of quoted investments has been managed on a discretionary basis by Kleinwort Hambros Societe Generale Group. RNS Chartered Accountants acted as Accountants during the year. S Wilson FCA acted as Independent Examiner for the Charity. Approved on behalf of the Trustees Miss R P Keeling 14 Janua 2025 Page 2 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES ON THE ACCOUNTS OF THE WELLAND CHARITABLE TRUST I report to the trustees of The Welland Charitable Trust on my examination of the accounts of the charity for the year ended 5 April 2024 which are set out on pages 4 to 6. Responslbilities and basis of report As the trustees of the Charitable Trust you are responsible for the preparation of the accounts in accordance with the Charities Act 2011 ('the Act,). I report 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 Act. Independent examlner's statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 130 of the Act., or the accounts do not accord wth those records. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. S Wilson FCA 27 Osborne Street Grimsby DN31 1NU 25 Janua 2025 Page 3 THE WELLAND CHARITABLE TRUST STATEMENT OF ASSETS AND LIABILITIES at 5 APRIL 2024 2024 2023 ASSETS Investments Quoted investments at cost 196,464.68 Cash Funds SG Kleinwort Hambros current account SG Kleinwort Hambros capital account SG Kleinwort Hambros income account 48,602.44 193,946.50 7,459.37 70,930.32 4,838.56 2,505.87 250,008.31 78,274.75 250.008.31 274,739.43 CURRENT LIABILITIES Accountancy fees Portfolio management charges 3,120.00 2,640.00 400.58 3,120.00 3,040.58 UNRESTRICTED FUNDS £246,888.31 £271,698.85 Page 4 THE WELLAND CHARITABLE TRUST RECEIPTS AND PAYMENTS ACCOUNT year ended 5 APRIL 2024 2024 2023 Receipts Unrestricted income.. Donations Bank interest Interest and dividends on quoted investments 173,000.00 924.32 4,029.18 173,000.00 75.04 4,311.45 177,953.50 177,386.49 Sale of investments 234,784.40 112,832.75 412,737.90 290,219.24 Payments Administration expenses.. Accountsncy fees Administration charges Portfolio management charges 1,200.00 127.88 1,906.03 1,440.00 287.00 2,064.32 3,233.91 3.791.32 Charitable distributions per schedule 194,000.00 197.233.91 1,058,000.00 1.061,791.32 215,503.99 (771.572.08) Purchase of investments 43,770.43 48,628.33 Net Receiptsl{Payments) 171,733.56 (820,200.41) Cash funds brought fotward 78,274.75 898,475.16 Cash Funds carried forward £250,008.31 £78.274.75 Page 5 THE WELLAND CHARITABLE TRUST CHARITABLE DISTRIBUTIONS year ended S APRIL 2024 2024 2023 Action Medical Research Age International Alzheimer's Research UK Crisis UK Dementia UK Fareshare Farm Africa Garth School Lincs Rural Support Ne￿Ork Lives Magic Breakfast Meadows Day Centre Medecins Sans Frontieres UK School Readers Sense Shelter Spalding Gentlemen's Society Spalding Hospice Foundation St Barnabas Hospice The Big Give (Lives) The Trussell Trust UNICEF War Child 10,000.00 20,000.00 4,000.00 10,000.00 4,000.00 10,000.00 10,000.00 10,000.00 20,000.00 4,000.00 10,000.00 4,000.00 10,000.00 10,000.00 3,000.00 3,000.00 3,000.00 10,000.00 6,000.00 20,000.00 3,000.00 6,000.00 10,000.00 865,000.00 8,000.00 3,000.00 4,000.00 1,000.00 10,000.00 6,000.00 20,000.00 4,000.00 6,000.00 10,000.00 8,000.00 4,000.00 3,000.00 10,000.00 20,000.00 20,000.00 10,000.00 20,000.00 20.000.00 £194,000.00 £1,058,000.00 Page 6