Charity registration numbet: 1012303 The Willan Charitable Trust Annual Report and Financlal Statements for the Year Bnded 311rf8rch 2024
The Willan Charltable Trust Contents (continued) Referettce and A(kniuistrative Detaib Trujtses, Report Statement of Trustees, Responsibilities Independent Bxaminels Ileport Statem6nt of Fillanoial Actlvities Balanc# She¢t Notes to the Financi Stst¢nMIts 7t012
The Willan Charftable Trust Reference And Administrative Details Trustees Mrs L.E. Willan Ms J.G.E. Willan Mr K. Alderson Mr IL Willan Charlty Reglstratlon Number 1012303 Prlnclpal Offlce 2 Brooklallds Road Sale Cheshire M33 3SS Indtpendent Examlner McKellens Ltd Chartered Accountants I l Kiverview The Brnbani(merAt Business Park Vale Road Heaton Mersey Stockport SK4 3GN Page I
The Willlln Charitable Trust Trustees, Report The trtistees present the r¢port togetheT with the financi statejnents of the charity for the yw ended 31 March 2024. ObJectlves And ottfvltles Objects and aln The trust rnceives dividend5 from its shares in unlisted UK companies, interest on its special interest bank account and AuthoTised Trust illvestsnent and $p¢cific dollations. It applies this income to givillg gmnts to approved beneficiaries in accordance with its trust deed. hlblle bene The tti]stees confjrni that they have compliod with tho requirements of section 17 of the Charttles Act 2011 to have due regard to the public benefit guidanc¢ published by the Charity Conunission for Engliiud and Wales. Achlevements and perforniance The charity received £32,849 (2023., £107,417) income In the year (excluding revaluation of investhients) and Made donatfons of £202,000. (2023: £1,000) The annual report WAS approved by th¢ tstseS of the charity on 29 Jwiuary 2025 and 8igDed on its behalf by: Mrs L.B. Willan awimian and tru8tee Page 2
The Willan Charitable Trnst Statement of Truste, Responsibilities The trustses are respot]sible for preparing the trustees, report and the financial ststements in accordance with th¢ United Kingdom Accounting Standards (United Kingdom Generally Accepted A¢¢vunting Practice) alld applicable law and i'egulation8. The law applicable to Charities requires the trustees to propare ancIal statements for each financial year which give a true and fail view of the state of affaiTS of the charity and of the incoming resources and application of resources of the charity for tb8t period tn preparing these fmancial 8t8tements, the trustees are requirod to: select suitable accounting policie8 and then apply tbem consistently. observe the methods and principles In the Charities SORP. nke judgemet]ts &lld estimatss that are reasonable and prudent. stats whether applicable accounting standards hav¢ been followed subject to any material departurns disclosed and explained in the fjnancial statements" and prepare the fmancial statemeits on the going concern basis unless it is inapproprlate to presume that the charity wiIl continue in business. The trnstees are itsponsible for keeping proper aLcountllig recoi'ds that disclose with r¢asoiiable accuracy at any time thts fmanciol position of the charity and enable thom to lsure that the fin]cIal statements comply with the Charities Act 2011, the Cbarities (Accounts and Reports) Regul8tion8 2008, ld the provisions of the constitution, The tsvstees are also rcsponsible for saf¢guarding the assets of the charity and hence for taking reasonable steps foi the pr¥v¢ntion and detection of fraud and other irregularities. The trnstees are respoii$iblo for the maintenance and integrity of the corporate and fiiianci&l inforniation included on the cbaritable company'8 website. Legislation governing the Pl'eparation and dists¢mination of financial statements may differ from legislation in other jurlsdictions. Approved by thtt truste of the charity on 29 January 2025 llud sign¢d Lin its behalf by: Mr8 L.B. Willan Chairnwi and trustre Page 3
The Willan Charitable Trust Independent xaminer'S Report to the trustees of The Willan Charitable Trnst I report to the trusteos on my eXarnItion of the accounts of The Willan Charitsble Tntst for tho year ended 31 March 2024. Ruponsibilities and basls of report As the charity trustees of The Willan Charitable Trust you responsible for the preparation of the Accounts in accordance with the requirements ofthe Charities Act 201 l ('the Act,). I report ill respect of my examination of the The Willan Charitsble Trust'8 accounts carried out under 8ection 145 of the 2011 Act and in carrying out my examinatlon I h8ve follow¢d 811 the applicable Dire¢tion8 given by the Charity Commis8ion under Section 145(5)(b) of tbe Aot. Independent txaminer'8 Statement I have cornpleted my examination. I confirni that no materia] matters have come to my attention in connection with the examination giving me cause to believe that in any rnaterial respect: 1. occounting r¢¢ords wero not kept in respert of The Willall Charitsble Trnst as required by section 130 of the Act. or 2. the accounts do not &word with those recor(Is' or 3. the accounts do not Comply with the accounting requirernents concerning the fonn and content of accounts set out in the Charities (Accounts end Reports) Regulations 2008 other than any reouirement tbat the accounts givo a 'true and fair vlew, which is not a matter considered as part of an independent examinatio I have no concerns and have come aoross 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 bc reached. J.P. iioper FCA M¢Kell¢tJs Ltd Chartered Accountants I l Riverview The Embankment Business Park Vale Road Heaton Mersey Stockport SK4 3GN 29 January 2025 Page 4
The Willan Charitable Trust Statement of Finaneial Activities for the Year Ended 31 March 2024 Unrestricted funds Total 2024 Note Income and Endowments from: Investment income 32,849 Total incolne 32,849 32.849 Fxpendlture on.. Charitabl¢ &6tivities Other ¢xpend?ture (203,062) 13 (203,062) 13 Total expenditure Gain&qo38¢8 on inve8tsDent assets (203,075) 101716 (203,075) 101,716 Net expenditure Net movement in fimds 68,510 (68,510) (611,510) Reconclliatlon of lknnds Total funds brought forward 6 237,999 6,237,999 Totst fillid8 chrried forward 12 6,169,489 Unrestricted funds 6,169,489 Tot&1 2023 Note Income and EnduTrvments from: Invesilnent income IU7 417 107,417 Total income 107,417 107,417 Expenditure on: Ch4ritsble activities Other expenditure Total expenditUT¢ Gains/losses on inv¢stsn¢nt assets (2,056) (2,056) 586 (2,642) 235 026 (2,642) 235 026 Net income 339,801 339,801 Net movement in fiujds 339,801 339,801 R¢coMeillation of funds Total funds brought forward 5,898,198 5,898,198 Tot find8 c&rriod forward 12 6,237,999 6,237,999 All of the charity's &ctivitieB derive from continuing operations during tho above two pcriods. The furlds breakdown for 2023 is Shown in note 12. The not&8 on pages 7 to 12 fonn an integral part of these financial strdt¢m¢Dts. Page 5
The Willan Charitable Trust (Registration number: 1012303) Balance Sheet as at 31 March 2024 2024 2023 Nots Flxed assets Investmonts 5,276,549 5,174,834 Current ¥$sets Cash at bank and in hand 10 894,003 1,064,126 Credltors: Ajnounls falling due within one yoar 11 1,063 961 Net current assets 892,940 1,063,165 Net assets 6,169,489 6.237 999 Fuiids of the ¢harl¢y: Unrestricted in¢orne funds Unrestricted funds 6,169,489 6,237 999 Total fundb 12 6.169,489 6 237 999 l&e fUnClaI Statements on pages 5 to 12 were approved by the trusts¢s. and &utIrised for i&8ue on 29 Sanuary 2025 &nd signed on their behalf by: Mr.4 L.B. Willan Cliairman and trustee The notes on pages 7 to 12 forni an integral part of these fillanGial slatements. Page 6
The Willan Charitable Trust Notes to the Finaneial Statements for the Year Ended 31 Mareh 2024 l Aecountlng pollcies Statement of ¢ompllanee The fJnanciAI statellnts have b¢en pr¢pared IJJ aecordance wlth the second edition of the Chariti¢8 Statement of Recommended Practioe issued in October 2019, the fiinan¢lal Reporting Standard applicable iti tb¢ United Klngdom and Republlc of Ireland (FRS 102) and the Charities Act 2011. Basts of prÈparAtlon The Willan Charitable meets the defjnitlon of a publi¢ beneflt ontity under FRS 102. The accoullts (financial statements) have been prepared under the historical ¢05t convention with items recognised at cost or traction value unles5 othenvise stated in th¢ relevant note(s) to these accounts. Colng concern The trustees consider that th¢ aro no mateTial uncertainties about the charitys ability to continue as a going conrerll. Income and endoivmellts Invaslmenl thcome Interest on fimds held on deposit is includod when receivable and the amount can be measured Teliably by the Charity. this is normally upon notification of the interest paid or payable by the bankDividends are re¢ognised once the dividend has been declared and notification has been received of the divAdend due. Expendlture All exp¢nditure is recognised onL¢ there is u legal or constructive obligation to that expendith, it is probable settlement is r¢qiiircd and the wnount call be meu¥urL'd reliably. All costs are allocated to tho applicable expenditur¢ heading that aggi'cgats similar costs to that cat¢gory, Where c08ts cannot be directly attributed to particular heading8 they hav¢ b¢¢n allocated on a basis consistent with the use of re80urces, with central staff costs allocated On the basis OE tinio ypen¢ and depreciation ch4rges allocated on th¢ portion of the as5et'y us¢. Other support cost8 are allocated bascd on the spread of staff costs. Charttable ftctlvlrles Charitable ¢xpenditurc COmPTises those costs incurred by th¢ charity in the delivery of its a¢Yivitie8 and services for its beneficiari¢8. It Sncludes both costs that can be allocated directty to su¢h activities and those costs of an indlrect nature neressary to support th¢nL Granlprovlslons Provision8 for grants are made when the intention to make a grant has been cottllnunicated to the Tecipi¢nt but there is uncertainty about either the tiniing of tbe grant or the amount of grant payable. Governance costs Th¢se include the c()8ts attributable to the charity'8 complianie with constitutional and stathtory requiremeijts, including audiL strategic managoment and trustc¢s MeetInS. and reimbursed ¢xpenses. Page 7
The Willan Charitable Trust Notes to the Financial Statements for the Year Ended 31 M2rch 2024 (continued) Taxatlon The charity is coJJ8iderod to pass the tests set out in Paragraph I Schedule 6 of the Flnance Act 2010 and therefore it meets the definition of a charitable company for IJK corporation tax purposes. Accordingly• the charity is potentially exempt from t&Yation in respect of income or capital gains received within catsgories covered by Chapter 3 Part I l of the Corporation Tax Act 2010 or Section 256 of the Ttion of Chargeable Gains Act 1992, to th¢ extent that such in¢om¢ or gaill8 applied exclusively to ¢h&ritable puYpos¢s. Flxed a&8et Investments Fixed a88et investments, other than prograuime related investments, are th¢luded at market vakue at the balan sheet date. Realised gains and losses on inveqtments are Cal1[ated as the difference botwecn salcs pro¢e¢ds and their mftrlcet v#lue at the start of thc year, or tliob subsequent cost, and are charged or cr¢dited to the Statsment of Financial Athivities in th¢ p¢riod of disposal. Unrealised gains and losses represent the movement iii nwket values during the year and are credited oi. charged to the Statement of Financial AGtivitiey b&8ed on the market value at the year end. Cash and cash equtvalents Cash and Lash eqUIvClIts compri.se cash on hand and deposits, and other short-t¢rffj highly liquid investmeiits that are readily convcrtible to a known amount of cash and ar¢ subject to an llis1gnificit risk of change in valu8. Fund structure lJnrestrict¢d income funds are genernl funds that are available for Use at the trustee8 discretion in fJJrth¢rance of t]ie objective.8 of the charity. Finaneial instruments c1111CaII0ll Financial assets and fmancial liabilitie5 are recognised when the charAty becomes a party to the ¢ontractual provisions of the in81rument, Financial liabilities and equlty instruments are classified according to the substance of the contractual attangements entered into. An equity instrnment is aay contract that evidences a residual interest in the assets of the cEIty after deducting all of its li&bAlities. Invulinents Inve8tn]ents are er at fair vue through the Statement of Financial A¢tivitieg. Invesknents in subsidiaries and associates are rneasured at cost less impairnient. Por invesknents in subsidiaries. acquired foi Conslderatlon Sncludillg the issue of shares qualifying for merger relief. cost is meas[ed by referenoe to the nomllial value of the shares is8lled plus fair value of other consideration. Any premium is iOred. Falr value measurement The best evidence of fair value is a quotsd price for an identical &8set in an active market. When quotsd pric&s are unavailablB, the price of a recent transaction for an identical asset provides evidence of fair value &8 long as there has not been a significallt change in economic circumstances or a Silf1¢ant 18ps¢ of time sin¢¢ the transaction took platt. If the nwket is not active and recent transactions of &n ideDtical ass¢t on th¢ir own ar¢ not a good eStinte of fair value, the fair value is estimat¢d by using a valuation technique. Page 8
The Willan Charitable Trust Nots8 to the Financial Stgdtements for the Year Ended 31 March 2024 (continued) 2 Inveytment inconie Unrestricted funds Genero1 Total 2024 Totsl 2023 Incme from dividellds. Dividends e1Vable from oth¢r unlist¢d lllvestments Interest receivable and similAT income. tnterest receivable on bauk deposits Other Incomo from fixed &8set Invesknents 19,729 19,729 99,864 13,120 13,120 5,772 1,781 107417 32,849 32,849 3 ExpeThdlture Oll eharltHbl¢ actlvltieg Unrestrlcted funds General Total 2024 Totsl 2023 Note 'ant fimding of actlviti Governance costs 202,000 1,062 202,000 1,062 203,062 1,000 203,062 2,056 4 Other expendltsre Unrestricted Total 2024 Total 2023 General Legal fees Bank charges 575 11 13 13 13 13 586 Page 9
The Wi]lan Charitable Trust Notes to the Financial Statements for the Year Knded 31 March 2024 (continued) 5 Analys15 of governance and 8upport ¢08ts GovernAnce costs Unrestricted funds General Totsl 2024 Total 2023 Independent examiner fees Exam5nation of the fancIal statements other fees paid to ¢xamlner8 984 78 984 78 984 72 1,062 6 Gr8nt-maklng Analys1$ of grants Grants to Insdtutlolls 21J24 2023 Analy51s The Brooke Anim&l Hospltal Help for Hero¢s Leonard Che81th Di88bility Brltish Rod Cross Royal British Legion The Salvation Anny Scope Shelter Sight5aver3 Street Paw5 Trus8ell Trust The Wheely Boat Trust Wood Str¢et Mission Cancer Research Guide Dogs for the Blind ])Isast¢rs Emrgency Coti]mittee Em81ine's Panty 2,000 4,000 2,000 34,000 19,000 2,000 4,000 3,000 6,000 2,000 62,000 4,000 4,000 2,000 1,000 50,000 1,000 202,000 1,000 I,OIM3 The support costs associated with grant.making are £Nil (31 March 2023 - £Nil). Page 10
The Willan Charitable Trust Notes to the Financial Statements for the Year Ended 31 March 2024 (continlled) 7 TrustK5 remuneratlon and expen5e5 No trnstees, nor any persons connected with tbem, hav¢ rw¢iYed any remuneration from the ¢harity during the year. No truste¢s have received any reimbursed expenses or any other bonofft8 from the ch4Tity during the year. 8 Taxatlon The charity is a registored charity and is therefore exempt from taxation. 9 Fixed assot Investments Other Investmen Ltsted Investment5 Unlistsd Investments Total Cost or Voluatlojj At l April 2023 Revaluation 176,282 4,998,552 79,694 5,174,834 101715 At 31 Mawh 2024 198,303 5 0711246 5 276,549 Net book value At 31 March 2024 198 303 5 078,246 5,276,549 At 31 M&rch 2023 176,282 4,998.552 5 174 834 10 Cash And cash equivalents 2024 2023 Cash at bank 894,003 1064 126 Page Ll
The Will2n Charltable Trust Notes to the Fhanciyal Statements for the Year Ended 31 March 2024 (continued) 11 Creditor . amounts fAJllng due Ivfithln one year 21J24 2023 Accrnals 961 12 Funds BY41ance al I Aprll 2023 Incomlng resources Resources exp¢llded Balance At 31 March 2024 Unrestrlcted funds General 6,237 999 134 565 203 075 6,169 489 13 Analy818 of net agsets betsveen fuuds Unrestrlcted nds Genergl Total funds at 31 Mareh 2023 Fixed a58et investhients Current assets Current liabilities 5,174,834 1.064.126 961 5,174,834 1,064,126 961 Total net assets 6,237,999 14 R¢lated party transactions The were no Telated paty transactions in thv year. Page 12