Charity No. 1013782 THE WH SMITH GROUP CHARITABLE TRUST Report of The Trustees and unaudited flnanclal statements Year ended 31 December 2024
Charity No. 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 2024 Balance Sheet as at 31 December 2024 Note5 to the Financial Statements for the year ended 31 December 2024 8-12
THE WH SMITH GROUP CHARITABLE TRUST Charity No. 1013782 REPORT OF THE TRUSTEES INTRODUCTION The trustees present the annual report and financial statements for the year ended 31 December 2024. STRUCTURE, GOVERNANCE AND MANAGEMENT The WH Smith Group Charitable Trust was formed under a trust deed dated 14 July 1992, as amended in August 2006 and February 2011. The legal form of the entity is an unincorporated charity registered in England & WaSes. The report and financial statements cover the year ended 31 December 2024. The Trust was formed during the Bicentenary of the WH Smith Group. The Charity is governed by a Board of Trustees, as detailed below. The Board of Trustees currently consists of 7 members 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. OBJECTIVES AND AIMS The Charity's principal object, as defined in its Trust Deed, is raising money for charitable purposes and d istributing the f unds to selected charita ble organisations. All surplus funds are donated at the discretion of the Trustees to other charitable organisations, 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: Sharon Appleton Nicki Woodhead Debbie Clapham Paul Johnson Keegan Lane Danielle Richards John Poulton Clare O'Grady Iskirrowl Mitchell Hunt Helen Webb (Chairl (resigned 31 March 2024} (resigned November 20241 (appointed 2. December 20241 th resigned 10 October 2025} resigned August 2025 INVESTMENT POWERS The Trustees have the authority to invest as they see fit to the extent that they shall have the same powers in all respects as if they were beneficial owners absolutely entitled. RESERVES POLICY The WHSmith Charitable Trust receives funding from three main sources: Customer donations in store; employee fundraising and donations via payroll giving and fundraising events; and cash proceeds from the charity shop. All funds currently received are unrestricted. Although the WHSmith Charitable Trust does not have any contractual commitments that extend beyond the current financial year, there is a certain expectation amongst certain recipients, such as
THE WH SMITH GROUP CHARITABLE TRUST Charity No. 1013782 REPORT OF THE TRUSTEES those charities that have been in receipt of recent funding repeated over several years, or employees of WHSmith who are familiar with the Trust's programme of providing matched funding that donations will continue beyond the current financial year. For thi5 reason, the Trust has elected to keep some reserves available to carry over to the following financial year. The Trust has therefore decided to keep in reserve an amount that would allow it to provide one more year of core funding to its current major beneficiary, and to employees in receipt of matched donations. Although there is no obligation to do so, this would allow current beneficiaries a period of time to transition away from the support provided by the Trust. In addition, reserves have also been set aside to cover annual operating costs for audit fees etc. The reserves needed have therefore been set at £140,000-£180,000. The Trustees now believe that, as in-store donations are no longer impacted by Covid restrictions, we can afford to reduce the level of reserves as we are able to rely on a more secure future income stream. The total fund held at the year end were £201,285 {2023: £174,112} and were all unrestricted. Action will be taken during 2025 to reduce this value to come in line with the reserves policy. PUBLIC BENEFIT In planning the Charity's activities for the year trustees kept in mind the Charity Commission's 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 £222,648 {2023: £195,152) were received. Grants of £191,640 {2023: £198,484) have been made in the year. The statement of financial activities shows net incoming movement in funds of £27,172 {2023: £10,514 net outgoing movement in funds) as set out on page 6. The funds are deposited into an account designated 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 cha rity is the transition to a cashless society as a large amount of donations is from collection pots 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 charitable work and all donations are now focused on supporting the voluntary and fundraising activities of staff in their local community. The vast majority of Charitable Activities are discretionary in nature and agreed by the Trustees at regular meetings throughout the year by reference to resources available at the time. Further the Charity has
THE WH SMITH GROUP CHARITABLE TRUST Chari¢y No. 1013782 REPORT OF THE TRUSTEES limited administrative costs by virtue of utilising 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 organisation which has stood u5 in good stead to deal with any challenges.
THE WH SMITH GROUP CHAIUTABLE TRUST Charity No. 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 Bankers.. Barclays Bank PLC PO Box 385 Onslow Hill The Little Green Richmond Surrey TW9 IWB proved by the Trustees on 30 October 2025 and signed on behalf of the Trustees by: Keegan Lane 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 I'the Trust") for the year ended 31 December 2024, set out on pages 6 to 12. This report 15 made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities {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 Examiner's 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. Responslbllltles 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"). I 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(5llbl of the 2011 Act. Independent examlnerfs 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 is not a matter considered as part of an independent examination. 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. Jonathan Lacey FCA Regulatory Accountlng Llmlted Vicarage Court 160 Ermin Street Swindon SN3 4NE Date: 30/10/2025
THE WH SMITH GROUP CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES Year ended 31 December 2024 Notes 2024 Total 2023 Totsl Iunrestrlcted) (Unrestrlcted) INCOMING RESOURCES Income and endowments from; Donations and le8acies 222,648 195,152 Total 222,648 195,152 RESOURCES EXPENDED Expendlture on: Raising funds Charitable activities Other (1,466) 1191,640} 12,370} 12,6581 {198,4841 15,5251 Total 1195,476} {206,6671 Net Income/ (expendlture) and movement In funds 27,172 110,5141 Reconclllatlon of funds: Total funds brought forward 174,112 184,626 Totolfunds carrledforward 201,285 174,112 All activities derive from continuing operations. There were no other recognised gains and losses other than those stated above.
THE WH SMITH GROUP CHARITABLE TRUST BALANCE SHEET At 31 December 2024 Notes 2024 Total 2023 Total {Unrestricted) (Unrestricted) Current assets Cash at bank and in hand Debtors 272,800 31,367 208,826 62,510 Total current assets 304,167 271,336 Creditors: amounts falling due within one year 1102,883) 197,2241 Net current assets 201,284 174,112 Funds of the Charity Unrestricted funds 201,284 174,112 Totalfunds 201,284 174,112 These financial statements were approved and authorised for issue by the Trustees on 30 October 2025, ned on behalf of the Trustees Keegan Lane Trustee
THE WH SMITH GROUP CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2024 Basis of accounting 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: 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 IFRS 102} leffective l January 2019. the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland {FRS 1021; and with the Charities Act 2011. The WH Smith Group Charitable Trust meets the definition of a public benefit entity under FRSIO2. Going concern Financial statements are prepared with the assumption that the entity is a going concern and will continue to operate for the foreseeable future since there is no material uncertainty surrounding Going Concern. Fund structure The Charity maintains one type of unrestricted funds as follows: Generol Unrestrictedfunds are amounts which are available for donation at the discretion of the Trustees. Income recognltlon - Donatlons Donations are accounted for when the conditions for receipt have been met and there is a reasonable assurance of receipt. In respect of monies collected in tins at W H Smith High Street and Travel stores and recorded by 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 following: 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 Support costs have been allocated between governance costs and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.
THE WH SMITH GROUP CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2024 Debtors Debtors (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. Liability recognition 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, Creditors The charity has creditors which are measured at settlement amounts le55 any trade discounts Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
THE WH SMITH GROUP CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2024 ANALYSIS OF EXPENDITURE 2024 2023 Expenditure on raSslng funds Incurred seeking donations 1,466 2,658 Total expenditure on ralslng funds 1,466 2,658 Expenditure on charitable activities 1st Lydiate Scout Group 43, Bristol Scout Group ADHD Adult UK 1,000 1,000 1,000 1,000 Alzheimer's Society Ann Edwards PTA 2,340 1,901 1,000 1,000 1,000 2.233 1,000 3,727 1,000 1,000 1,000 2,212 1,000 1,564 2,379 1,070 1,000 20,000 3,000 1,000 1,000 1,240 21,650 1,000 18,000 95,124 Axminster & Lyme Cancer support Blunsdon Community Shop British Heart Foundation CALM Cancer Research UK 250 CHIPS Parent Teacher Assoclatlon First Touch Llttle Princess Trust Macmillan Cancer Support Myeloma UK NSPCC Pancreatic Cancer UK Place2Be Prospect H05pice Red Cross Swindon Food Collective The Archie Foundation The Big Cat Sanctuary Trussel Trust Turkey Earthquake Appeal Wiltshire Wildlife Hospital WHSmith Promotions Ltd (School Giveaway} Young Readers Programme Middle East Humanitarian Appeal Other all < £ 1,000 1,583 1,000 1,000 18.000 100,783 20,000 6,465 9,383 io
THE WH SMITH GROUP CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2024 2. ANALYSIS OF EXPENDITURE (CONTINUED) Expenditure on charitable activities {continued} MIND 2024 2023 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 I,ooo 1,000 1,000 1,000 1,000 1,000 1,000 1,000 I,ooo 1,000 1,000 1,000 1,000 1,000 1,000 2,220 Parkinsons UK Lydiate Scout Group The Little Princess Trust Thames Hospice Alternative Angels Best- Be a Better You 8righter Futures Great Ormond Street Hospital Great Western Air Ambulance Charity Hospital Radio Swindon Out of the Can Pass It On Phoenix Enterprises RSPCA North Wiltshire Sands Spread A Smile Stroke Association Swindon and District Samaritans Target Ovarlan Cancer Thamesdown Hydrotherapy Pool The Kelly Foundation The Recovery Tree Charlty Willows Counselling & Training Macmillian cancer Support Change Grow Live Swindon Doing it for Dan 7th Swindon Scout Group Get Out R/C1179362 Tiny But Mighty Swindon Kaizen Academy Swindon Dial A Ride Winchester Hospice F.O.N.l.S.A 1st Eastcote Scouts Ann Edwards School Movember London Marathon 2yr Gold Bond 24-25 Total expenditure on charitable activities Ji
THE WH SMITH GROUP CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2024 ANALYSIS OF EXPENDITURE (CONTINUED) Other Independent examinerfs fees Other 2,370 2,180 2,345 Total other expenditure 2,370 4,525 Total expenditure 195,476 205,667 DEBTORS AND PREPAYMENTS 2024 2023 Analysis of debtors Prepayments and accrued income Other Debtors 31,367 62,510 CREDITORS AND ACCRUALS 2024 2023 Analysis of creditors Trade creditors Accruals and deferred income Other Creditors 2,100 100,783 2,100 95,124 102,883 97,224 CHARITABLE COMMITMENTS The Charity has no charitable commitments other than those recorded as grants payable at the end of the year or at the end of the preceding year. DESIGNATION OF FUNDS All funds are available at the Trustees, discretion for donations to causes nominated by staff. TRANSACTIONS WITH TRUSTEES AND RELATED PARTIES There were no transactions with related parties during the current or prior year. None of the Trustees have been paid any remuneration or received any other benefits from an employment with the Charity or a related entity. 12