ChArlh. No. 1013782 THE WH SMITH GROUP CHARITABLE TRUST Report of The Trustees and unaudited financial statements Year ended 31 December 2023 Charlly )0. 1013782 THE WH SMITH GROUP CHARITABLE TRUST CONTENTS Page Report of the Trustees Independent Examinerfs Report to the Trustees Statement of Financial Activities for the year ended 31 December 2023 Balance Sheet as at 31 December 2023 Note5 to the Financial Statements for the year ended 31 December 2023 7-12 THE IVH SNI IITH GROUP CHLIRITtlBLE TRUST Chllrit), Yo. 1013782 REPORT OF THE TRUSTEES INTROOUCTION The Trustees present the annual report and financial statement5 for the year ended 31 December 2023. STRucfuRE, GOVERNANCE AND MANAGEMENT The WH Smith Group Charitable Trust wa5 formed under a trust deed dated 14 July 1992, as amended in August 2006 and February 2011. The legal for of the entity is an unincorporated charity registered i England & Wales. The report and financial statements cover the year ended 31 December 2023. The Trust was formed during the Bicentenary of the WH Smith Group. The Charity 15 governed by a Board of Trustees, as detailed below. The Board of Trustees consisted of 9 members during the period and is made up of staff representatives nominated by each of the businesses that comprise the WH Smith Group in the UK. Each Trustee has responsibility for encouraging the full involvement and support of their individual business in the activities of the Trust. All the Trustees undertake the role in a voluntary capacity and must have a genuine interest in the voluntary sector. All the trustees will sign the Charity Commission's Trustee Declaration. OBJEcfivES AND AIMS The Charity's principal object, as defined in Its Trust Deed, is raising money for charitable purposes and distributing the funds to selected charitable organisations. All surplus funds accumulated after the running costs of the charity are accounted for and required reseNes held. are donated at the discretion of the Trustees to other charitable org3nisations, nominated by staff of the WH Smith Group. Details of grants paid are included in "achievement and performance" below and also in note 2 to the accounts. TRUSTEES The Trustees during the year and since the year end have been: Nicki Woodhead (Chairl Sharon Appleton Debbie Clapham {resigned 31 March 20241 Paul Johnson Danielle Richards John Poulton Wendy Stroud {resigned 31 March 2023) Clare O'Grady Mirchell Hunt Helen Webb lappolnted 14 April 20231 INVESTMENT POWERS The Trustees have the authority to invest as they see flt to the extent that they shall have the same powers in all respects as if they were beneficial owners absolutely entitled. RESERVES POLICY At the end of the year. policies surrounding the reserves of the Charity were bein8 developed to concentrate on supporting the fund-raising effort5 of staff in the local community. The Trustee5 now believe that, as in-store donations are no longer impacted by Covid restrictions, we can afford to reduce the level of resenrfe5 35 we are able to rely on a more secure future income stream. THE WH SfvIITH GROUP CHIlRITIlBLE TRUST Ch4rilv Yi D. 1013782 REPORT OF TFIE TRUSTEES The total fund held at the year end were £174,112 {2022= E184.6271 and were all unrestricted. PUBLIC BENEFIT In planning the Charity's activities for the year trustees kept in mind the Charity Commission'5 guidance on public benefit The focus of the Charity's activities during the year. which explains the delivery by the Charity of public benefit, is set out below under'achievement and performance,. ACHIEVEMENT AND PERFORMANCE The Charity benefits from fund-raising activities by the staff of the WH Smith Group and donations of E195,15212022: £187,655) were received. Grants of £198,48412022: £168,983) have been made in the year. The statement of financial activities shows net outgoing movement in funds of £10,51412022: £14,025 net incoming movement in funds) as set out on page 5. The funds are deposited into an account desi8nated as a Community account at Barclays Bank PLC. RELATED PARTIES The WH Smith Group Charitable Trust has no related parties. RISK MANAGEMENT The major risks to which the charity is exposed as identified by the Trustees have been reviewed, the trustees feel that the key risk to the charity is the transition to a cashless society as a large amount of donations is from collection pot5 in Store, which there is already some mitigation in place for this by the 'pennies from heaven, initiative. FUTURE DEVELOPMENTS The Charity aims to continue its charltable work and all donatlons are now focused on supporting the voluntary and fundraising acfivities of staff in thelr local community. The vast majority of Charitable Activities are discretionary in nature and agreed by the Trustees at re8ular meetings throughout the year by reference to resources available at the time. Further the Charity has limited administrative costs by virtue of utilisin8 facilities owned by the WH Smith Group. Trustees are unpaid volunteers and other administrative costs of the Trust are minimal. This puts the Charity In a strong position as activities can be restricted to retain sufficient reserves to meet the limited administrative costs and achieve our charitable aims for the foreseeable future. We are an adaptive and flexible organi5ation which has stood us in good stead to deal with any challenges. THE IVH s￿l1TH GROUP CHklRITABLE TRUST ChArit)' INO. 1013782 REPORT OF THE TRUSTEES GENERAL INFORMATION Principal office.. WHSmith PLC Greenbridge Road Swindon SN3 3JE Independent Examiners.. Regulatory Accounting Limited Vicarage Court 160 Ermin Street Swindon SN3 4NE Bonkers.. Barclays Bank PLC PO Box 385 Onslow Hill The Little Green Richmond Surrey TW9 IWB Approved by the Trustees on 16-1 o -Zkand signed on behalf of the Trustees by., Paul Johnson Trustee THE WH SMITH GROUP CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE WH SMITH GROUP CHARITABLE TRUST I report to the charity trustees on my examination of the accounts of the WH Smith Group Charitable Trust {"the Trust") for the year ended 31 December 2023, set out on pages 5 to 12. This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charitie5 (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's Trustees those matters l am required to State to them in an Independent ex3miner'5 report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report. Responsibilities and basis of report As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 {"the Act"). report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145{51{b) of the 2011 Act. Independent examinerfs statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect- the accounting records were not kept in accordance with section 130 of the Charities Act; or the accounts did not accord with the accounting records; or the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities {Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair, view which 15 not a matter considered as part of an independent examination. I have no concern5 and have come acr055 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. Jonathan Lacey FCA Regulatory Accounting Limited Vicarage Court 160 Ermin Street Swindon SN3 4NE Date: 17-. 2oZY THE WH SITrllTH GROUP CHARITABLE TRUST STATEIIIEYT OF FIYAINCltKL ACTIVITIES Yeur LndLd 31 Deceniber 20?3 Notes 2023 Total 2022 Total (all Iunrestrictedl {Unrestricted) INCOMING RESOURCES Income and endowments from: Donations and legacies 195.152 187.655 Totol 195,152 187,655 RESOURCES EXPENDED Expenditure on; Raisin8 funds Charitable activities Other 12.6581 {198.4841 (4.5251 12,4251 1168,9831 (2,2221 Total 1205,6671 {173.6301 Net income / (expenditure) and movement In funds 110,5141 14,025 Reconcillation of funds: Total funds brought forward 184,626 170,602 Totalfunds corriedforward 174.112 184.627 All activitie5 derive from continuing operations. There were no other reco8ni5ed 8ains and losses other than those stated above. THE IVH SINIITH GROUP CHARITIIBLE TRUST ..ILkKNCE SHEET tlt 31 December 2023 Notes 2023 Total 2022 Total (Unrestricted) Iunrestrlrted) Current assets Cash at bank and in hand Debtors 208,826 62.510 185,011 147,411 Total current ossets 271,336 332,422 Creditors: amount5 falling due within one year 197.2241 1147.7961 Net current assets 174.112 184,626 Funds of the Charity Unrestricted funds 174.112 184,627 rotalfvnds 174,112 184.627 These financial statements were approved and authorised for issue by the Trustees on and signed on behalf of the Trustees 16-10-+ Paul Johnson Trustee THE IVFI STrIITH GROUP CHARITtlBLE TRUST OTES TO THE FlIY,INL ClèlL STATELNIEJ'TS Year ended 31 December 2023 Basis of accountlng These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notelsl to these accounts. The accounts have been prepared in accordance with: The Statementof Recommended practice: Accounting and Reporting by Charities ISORP 20191 applicable to charities preparin8 their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland. The Charitie5 Act 2011. The WH Smith Group Charitable Trust meets the definition of a public benefit entity under FRSIO2. Going concern After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue In operational existence for the foreseeable future. It is the opinion of the Trustees that whilst there are some material uncertainties resulting from the onset and Continuance of Covid-19 that may cast significant doubt about the charity's ability to continue as a going concern there have been appropriate measures and plans put in place. Further detail is provided in note 8. Fund strurture The Charity maintains one type of unrestricted funds a5 follows: GenenJl Unrestrictedfunds are amounts which are available for donation at the discretion of the Trustees. Income recognitlon - Donatlons Donations are accounted for when the conditions for receipt have been met and there is reasonable assurance of receipt. In respect of monies collected in tins at W H Smith High Street and fravel stores and recorded bv W H Smith Plc, collections are recorded when they are transferred from W H Smith PIC to the Charity and an accrual is made for monies collected but not paid over as at the year end. Expenditure Expenditure includes all expenditure directly related to the objects of the Charity and comprises the followin8: Grants payable are accounted for on an accruals basis when the Trustees have accepted a legal or constructive obligation to make the grant. Governance and support costs Supportcosls have been allocated between governance costs and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with re8ulation and good practice. THE IVH SINIITH GROUP CHARITABLE TRUST NOTES TO THE FIINAN'CIAL STATELNIEIYTS Year cnded 31 December 2023 Debtors Oebtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently. they are measured at the cash or other consideration expected to be received. Llability recognltion Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty. Credltors The charity ha5 creditors which are measured at settlement amounts less any trade discounts. Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call dep051ts, and other short-term highly liquid investments that are readily convertible to a known amounr of cash and are subject to an insignificant risk of change in value. THE IVH SMITH GROUP CFI,IRITABLE TRUST I OTES TO THE FIN'ANCIAL STATEINIENI TS Year endcd 31 Deccmber ?023 ANALYSIS OF EXPENDITURE 2023 2022 Expenditure on raising funds Incurred seeking donation5 2,658 2,425 Total expenditure on raising funds 2,658 2.425 Expenditure on charitable activities 1st Lydiate Scout Group 1,000 1.000 1.000 Id 43 Bristol Scout Group Addenbrookes Liver Transplant Association ADHD Adult UK Alzheimer'5 Society Ann Edwards PTA Axminster & Lyme Cancer support Blunsdon Community Shop Bfltish Heart Foundatlon 1.000 i.coo 2.643 1,000 1.000 1,000 2,233 1,0 3,727 1.000 CALM Cancer Research UK CHIPS Parent Teacher Association First Touch Hope House Little Princess Trust Macmillan Cancer Support Mind Choir Myeloma UK NSPCC 1,000 1,000 1.000 2.212 2,000 I,0( 1.564 2.379 1,070 1.000 20.743 Pancreatic Cancer UK Place28e Prospect Hospice Red Cr055 Royal Voluntary Service Sarcoma UK St Gemma's Hospice Swlndon Food Collective Teeside Hospice The Archie Foundation The Big Cat Sanctuary 10.000 20,000 1.000 i.￿0 3.￿0 1.000 1,000 THE IVH SfvIITH GROUP CHtlRITABLE TRUST YOTES TO TIIE FIJAIYCIAL STATE.￿lE1￿Ts Year endcd 31 Dccembcr ?023 The Heights P￿A Trussel Trust Turkey Earthquake Appeal Wiltshire Wildlife H05Pital WHSmith Promotions Ltd (School Giveaway) Young readers Programme Other all < £ 1,000 1.000 1,240 21,650 1,000 18.oc 95.124 7.899 36.900 84.896 7.187 Total expenditure on charitable actlvltles 198,484 168.983 io THE IVFI SIVIITH GROUP CHtlRITABLE TRU.ST I OTES TO THE FIINANI 'CIAL STATEINIEIN'TS Year cndcd 31 December ?023 2. ANALYSIS OF EXPENDITURE (CONTINUED) Other Independent examinerfs fees Other 2,180 2,345 1,800 422 Total other expendlture 4,525 2,222 Total expenditure 205,667 173.630 DEBTORS AND PREPAYMENTS 2023 2022 Analysls of debtors Prepayments and accrued income Other Debtors 1,980 145,431 62,510 62.510 147,411 CREDITORS AND ACCRUALS 2023 2022 Analysis of creditors Trade creditofs Accruals and deferred income Other Creditors 2.100 95,124 4,000 143.796 97,224 147.796 CHARITABLE COMMITMENTS The Charity has no charitable commitments other than those recorded as 8rants payable at the end of the year or at the end of the preceding year. DESIGNATION OF FUNDS All funds are available at the Trustee5' discretion for donations to causes nominated by staff. TRANSAcfioNS WITH TRUSTEES AND RELATED PARTIES There were no transactlons with related parties durlng the current or prior year. None of the Trustees have been paid any remuneration or received any other benefit5 from an employment with the Charity or a related entity. li TFIE IVFI SMITH GROUP CHARITIlBLE TRUST OTES TO THE FINAIYCIAL STATEINIENTS Year ended 31 Dccembcr 7023 GOING CONCERN COVID-19 which hit in March 2020 has had an unprecedented impact on the Charity. The resultanl limitation of activities of the WH Smith Group and requirement to work from home where possible has resulted in necessary changes to the way that the Charity operates. The 8oard have considered the effect of Covid-19 and further details are included within the Future Developments section of the Trustees, Report.