evelyn The Warwick Trust Charity Registration No. 1020530 Trustees. report and unaudited accounts For the year ended 5 April 2024 The Warwick Trust Legal and administrative information Settlor Katrina Ormsby Mccrossan Trustees Katrina Ormsby Mccrossan Archie DougLas David Mccrossan Edward Stanley Mccrossan Evelyn Partners Trust Corporation Limited Date of reglstratlon 4 April 1993 Chaylty number 1020530 Prlnclpal address Flat 3 11 Notlingham PLace London WIU SLE Accountants Evelyn Partners LLP Accountants Old Library Chambers 21 Chipper Lane Salisbury Wiltshire SPI IBG Bankers HSBC plc 4th Floor 8 Canada Square London E14 5HQ Independent examlner Simon Ellingham FCA Fawcetts LLP Windover House 26 St Ann Street Salisbury Wiltshire SPI 2DR Investment advlsors Evelyn Partners Investment Management LLP 45 Greshani Street London EC2V 7BG The Wanvick Trust Contents Page Trustees, report Independent examiner's report statement of financial aclivilies Balance sheet Notes to the accounts 7-12 The Wanvick Trust Trustees. report for the year ended 5 April 2024 The trustees present their report and accounts for the year ended 5 ApriL 2024. The accounts have been prepared in accordance with the accounting policies set out in note I to the accounts and comply with the charity's trust deed. the Charities Act 2011 and Accounting and ReportincJ 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 I'FRS 102.1 (effective l January 20191. Objects and actlvltles The trust was established for charitable purposes only. The trustees have power to pay or apply income and lif and when they think fit) capital for charitable objects at their discretion. The trustees have power to accumuLate inconie during the period of 21 years from 4 April 1993. Achlevements and performance During the year the trustees committed to make seven new donations (2023.. ten) totalling £90,895 (2023.. £IOO,000) to various charitable institutions. There was a donation for £10,000 included in the prior year which remained unpaid and has therefore been reversed in the currenl year. reducing the grants payabte figure in this year's accounts to £80.895. The trustees also paid donations totalling £29,000 which were committed to be paid in previous years. See note 3 for further details. PubLlc benefit The trustpes have referred to the guidance coniained in the Charity Commission's general guidance on public benefit when reviewing the charily's PLJrposes and ainis. and when plannincJ future activities. In particular how planned activities will conlribute to the achieveniont of the objectives and ainis. The main activity underaken for the public benefit IS the making of grants to other regislered charities. Futule plans The Irustees intend continuing to support other registered charities. in line with their grants poticy. Flnanclal revlew Inconiing resources amounted to £44.10512023.. £83,208) arising froni investment income and donations, After expenditure of £22,089 12023.. £22.1361 on support costs. £80.895 12023. £100,000) on donalions ancl cJains on investments aniounting to £151.561 12023.. losses of £145.333). there was an increase in funds of E92,68212023.' decrease of £184.261), Reserves pollcy The truslees consider the level of reserves at 5 April 2024 of £2.252,892 to be in Line with the charity's reserve policy to hold investments Ihat wilL produce income adequate to enable the trust to continue niaking charitable donations in the fulure in accordance with its objects. Grant maklng poLIcy The trustees will only make grants and donations to organisations as opposed to individuals. The trustees consider those causes they wish lo supporl and make grants in those areas. There is no restriction cn the types of activity Ihey supporl but they generally support UK based activities and organisations. They do not generally support those charities providing overseas aid but will consider in situations of humanitarian conflict and disaster. Investment policy The aim is to produce sufficient resources annually to maintain the level of grant making, and if Possible, enhance the capital value of the funds of the charity. The investnient manager has discretion to invest within agreed parameters and reports reguiarLy to the trustees. who review the extent to which it has be@n possible to achieve the investnient objective. The Wanvick Trust Trustees. report for the year ended 5 April 2024 Related party transactlons Katrina Mccrossan donated shares with a markel value of £50.000 in the prior year There were no such donalions in the current year. EveLyn Parlners Trust Corporation Limited is reLated to EveLyn Partners LLP, who provided accountancy services throucJhoul the year. Structure, governance and management The Warwick Trust is constituted by Deed of Trust dated 4 April 1993 and is a registered charity No. 1020530. Its address is at Flat 3, 11 Nottingham Place. London. WIU SLE. The charity trustees who served during the year were: Katrina Ormsby Mccrossan Archie Douglas David Mccrossan Edward Stanley Mccrossan Evelyn Partners Trust Corporation Limited The charity is administered by the trustees who were appointed by the setlLor. The charity's principal assets are in qLAoled investments as shown in the notes lo the accounts. Investment managers Evelyn Partners Investmenl Management LLP. 45 Gresham Street. London. EC2Y 7BG Banker HSBC plc. 4th Floor, 8 Canada Square. London, E14 5HQ Independent examlner Sinion EllincJham FCA, Fawcetts LLP. Windover House. 26 St Ann Slr&t. Salisbury. Wiltshire, SPI 2DR The Warwick Trust Trustees, report for the year ended 5 April 2024 Trustees. Yesponslblllties The trustees are responsible for preparing the Trustees. report and the accounts in accordance with applicable law and Uniled Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practicel. The Law applicabLe to charities in England and Wales requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the chcirity for that year. In preparincJ the accounts. the trustees are required to: select suitable accounting policies and then apply them consistently,. observe the methods and principles in Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the FinanciaL Reporting Standard applicable to the United Kingdom and Republic of Ireland IFRS 1021; make judgements and estimates that are reasonable and prudent.. state whether applicable accounting standards have been followed. subject to any material departures disclosed and expLained in the accounls., and prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping proper accounting records which disclose with reasonabLe accuracy at any time the financial position of the charity and which enable them to ensure that the accounts comply with the Charities Act 2011, Ihe relevant Charity (Accounts and Reports) Regulations and the provisions of the charity's governing document. They are also responsible for safeguarding the assets of Ihe charity and hence for taking reasonable steps for the prevention and deleclion of fraud and other irregularities, On behalf of the board of trustees for and on behalf of Trustee yn Partners Trust Corporatlon Llmlted Date,, The Warwick Trust Independent examiner's report to the trustees of The Warwick Trust I report to the trustees on my examination of the accounts of The Warwick Trust for the year ended 5 April 2024 which comprise the slatement of financial activities. the baLance sheet and the notes to the accounts. incLuding a sumn)ary of significant accounting poLicies. Respectlve responslbllltes of trustees and examlner and basls 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 20111.the Act.). I report in respect of my examination of the charily'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 Comniission under section 145151(b) of the Act. Independent examlner's statement I have completed my examinalion. I confirm that no material malters have come to my attention in connection with the examination giving me cause to believe that in any material respect,. accounting records were nol kept in respect of the trust as required by section 130 of the Act., or 2. the accounts do not accord with those records: or 3. the accounts do not comply with the applicable requirements concerning the forni and content of accounts sel 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 inclependent examination I have no concerns and have come across no olher mallers in connection with the examincltion to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Slmon Elllngham FCA Fawcetts LLP Chartered Accountants Windover House 26 St Ann Street Salisbury WiLtshire SPI 2DR Date. 18 De￿mber 2024 The Wanvick Trust Statement of financialactivities for theyear ended 5 April 2024 2024 2023 Note Income Inveslment income and interest receivabLe Donations receivable 44,105 33.208 50.000 Total Income 44,105 83.208 Expendlture Costs of ralsing funds Investnient nianacJement fees Expendlture on charltabLe actlvltles Grants payable Support costs 10,834 11.294 80,895 11,255 100.000 10.842 Total expendlture 102,984 122,136 Net deficlt before galns and losses on Investments (58,879) (38.9281 Gains/llosses) on investments 151,561 (145,333) Net movement In funds 92,682 1184.261) Fund balances at 6 April 2023 ,160,210 2,344.471 Fund balances at S Aprll 2024 2,252,892 2.160,210 All funds were unrestricted in the current and preceding year. The notes on pages 7 to 12 form a part of these accounts. The Wanvick Trust Balance sheet as at 5 April 2024 2024 2023 Note Flxed assets Investnients 2,250,420 2.167,627 Current assets Cash at bank and in hand 65,124 48,433 66,124 48.433 Credltors; amounts faLLlng due wlthln one year (42,652> (45.8501 Net current assets 22,472 2.583 TotaL assets Less current Ilabllltles 2,272,892 2,170,210 Cyedltors: amounts falllng due after more than one year 120,000) iio.0001 Net assets 2,252,892 2.160.210 Income funds Unrestricted funds 2,262,892 2,160,210 2,252,892 2.160,210 The accounts were approved by Ihe Trustees and aulhorised for issue by: for and on behalf of Evelyn Partners Trust Corporatlon Llmlted Trustee The notes on pages 7 lo 12 form a part of these accounts. The Warwick Trust Notes to the accounts for the year ended S April 2024 Accountlng pollcles The Warwick Trust is an unincorporated trust. constituted under a charitable trust deed on 4 April 1993. It is registered with the Charity Commission in England & Wales (No. 10205301. The address of the principal office is Flal 3, 11 Noltingham Place. London. WIU SLE. 1.1 Basls of preparatlon The ciccounts have been prepared under the historical cost convention with the exception of listed investments which are included at market value at the balance sheet date. The accounts have been prepared in accordance with the Financial Reporting Standard applicable in tho UK and Republic of Ireland I'FRS 102.1 and with the Statenient of Recomniended Practice applicable to charities preparing their accounts in accordance with FRS 102 issued in 2019. The accounts are also prepared in accordan￿ with the Charities Act 2011. The charity is a public benefit entity as defined by FRS 102. The trust only has financial assets and financial liabilities of a kind that quaLify as basic financiaL instruments. Basic financial instruments are recognised at transaction value. The accounts are prepared on a going con￿rn basis: there are no material uncertainties about the charity's abilily to conlinLJe as a going concern. 1.2 Income All income resources are included in the statement of financial activities when the Irust is legally entitled to the income and the amount can be quantified with reasonabLe accuracy. 1.3 Expendlture All expenditure is accounted for on an accruals basis and has been incLuded under expense categories that acJgregate all costs for alLocation to activities. Where costs cannot be directly attributed to particular activilies they have been allocated on a basis consistent with the use of resources. 1.4 Investments Listed investment5 are stated at market value at the balance sheet date. Realised gains and losses on investments, calculated on the difference between the sale proceeds and their costs. are credited or charged to the statement of financial activities in the year of gains or losses. Unrealised CJains and losses representing the movement in the market values during the year are credited or charged to the statement of financial activities in the year of gains or lossos. l.S Fund accounting The funds held are unrestricted funds which are available for use al the discretion of the trustees in furtherance of the general objectives of the trust and which have not been designated for other purposes. The Warwick Trust Notes to the accounts for theyear ended 5 April2024 Investment Income 2024 2023 Income from listed investments Deposit interest 43,452 653 32,986 222 44,105 33,208 The Wan￿1Ck Trust Notes to the accounts for the year ended S April 2024 Grants to Institutlons 2024 2023 London's Air Ambulance Limited The Brain Tuniour Charity Hammersley Homes In Kind Direct I Can and 1Am Liniited The Ruth Strauss Foundation Buttle UK The Marylebone Project The Felix Projecl Actionaid - DEC Turkey-syria Earlhquake Appeal The Magic Breakfast Foodbank Association of Ukrainians in Great Britain Association for Legal Intervenlion 30,000 15,000 11,295 10,000 10,000 9,600 5,000 iio,ooo> 10.000 5,000 10.000 5,000 10.000 30.000 15.000 10,000 5,000 5,000 15,0001 80,895 loo,000 Reconclllatlon of grants payable 2024 2023 Commitments charged to the Statement of financiaLactivities in the year Grcints paid during the year Conimilmenls at 6 April 2023 80,895 loo.000 174,895) 184.0001 49,000 33,000 Commitments at 5 April2024 55,000 49.000 Comniitments at 5 April 2024 are payable as follows: Within l year After niore than l year 35,000 20,000 39.000 10.000 65,000 49,000 Grants inclucled in the 2020 accounts payable to Foodcycle. The Brain Tumour Charity and The Hardman Trust were all due to be paid in equal instalments over 5 years. £14.000 was paid in total to tliese charities this year, being the finaL instalment. Grants included in the 2023 accounts payable included The Felix Project where the second instalment was paid dLJring the year. and Hammersley Homes which was also paid during the year. During the year. the trustees committed to pay a further £lO.000 to HammersLey Honies, as welL as £30,000 in totaL to London's Air AnibLJlance, payable in three equal instalments with the first amount being paid during Ihe year. Additionally. £15,000 payable in equal instalments over 3 years was conimitted lo The Brain Tumour Charity. The donalion to The Marylebone Project commitment made in the 2023 accounts remained unpaid at the year end and has been reversed during the year. The Wanvick Trust Notes to the accounts for theyear ended S April2024 Support costs 2024 2023 Accountancy fees Independenl examiner's fees Bank charges 10,185 I,oio 60 9.822 960 60 11,255 10,842 All support costs are considered to be costs of governan￿. Trustees During the year ended 5 April 2024. Evelyn Partners Trust Corporation Limited received £10,185 in relation to professional services provided12023'. £9.822). Employees There were no employees during the year12023'. none). -io- The Warwick Trust Notes to the accounts for the year ended 5 April 2024 Flxed asset Investments 2024 2023 Market value at 6 April 2023 Disposal proceeds Additions at cost Donated shares at valuation Change in value in the year 2,167.627 1391,575) 322,807 2.254.574 1173,8081 182.194 50.000 1145,3331 151,561 Mayket value at 5 Aprll 2024 2,250,420 2.167.627 Book cost at 5 April 2024 1,527,631 1,545,097 Analysls of Investments 8oncls Aterncltive investments Multi asset Property United Kingdom Equities North America Equities Europe Equities Japan Equities Resl of the world Equilies 158,764 142,570 985,684 39,620 337,074 285,886 82,434 47,419 170,969 89.704 259.993 964,223 85,933 343,456 169,430 84,769 41,869 128,250 2,250,420 2,167.627 Credltors,. amounts falllng due wlthln one year 2024 2023 Grants payable (see note 31 Accountancy fees Independent examiner's f&s Investment nianacJement fees 35,000 3,900 I,oio 2,742 39,000 3,180 960 2,710 42,652 45,850 Cyedltors falllng due after more than one year 2024 2023 Grants payable (see note 31 20,000 10,000 li- The Warwick Trust Notes to the accounts for the year ended 5 April 2024 10 Related party transactlons Katrina Mccrossan donated shares with a market value of £50.000 in the prior year. There were no such donations in the current year. EveLyn Partners Trust Corporation Limited is reLaled to Evelyn Partners LLP. who provided accountancy services throughoul the year.