## **THE GRETNA CHARITABLE TRUST** I N D E P E N D E N T E X A M I N E R ’ S R E P O R T ## **Year ended 5 April 2022** ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE GRETNA CHARITABLE TRUST** I report to the trustees on my examination of the accounts of the Trust for the year ended 5 April 2022. ## **Respective responsibilities of trustees and examiner** As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). You are satisfied that an audit is not required for this year under charity law and that an independent examination is needed. 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(5)(b) of the Act. An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters than an auditor considers in giving their opinion on the accounts. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently, I express no opinion as to whether the accounts present a ‘true and fair’ view and my report is limited to those specific matters set out in the independent examiner’s statement. ## **Independent examiner’s statement** I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales. 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: 1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records. I have no concerns and have come across no 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. G P SMYE-RUMSBY ACA Dixon Wilson 22 Chancery Lane London WC2A 1LS 2022 26 October 1 R E P O R T O F T H E T R U S T E E S ## **THE GRETNA CHARITABLE TRUST** ## **Year ended 5 April 2022** The trustees submit their report and accounts for the year ended 5 April 2022. The accounts have been produced in accordance with the receipts and payments basis. ## **Administrative information** The trust was established by a deed dated 15 March 1993 and is a registered charity (No. 1020533). The trust’s registered office is: c/o The Directors Office Imperial London Hotels td 66 Russell Square London WC1B 5BB ## **Settlor** The Gretna Charitable Trust was created by the generosity of H R Walduck, who tragically passed away on 6 January 2021. ## **Trustees** Mrs S M C Walduck A H E P Walduck Mrs A M Duncan The number of trustees shall not be less than three. Where there is a requirement for new trustees, these may be appointed by the current trustees and the personal representatives of the late H R Walduck. The trustees receive no reimbursement for their expenses. ## **Object** The trust's objects are such charitable purposes as the trustees from time to time in their absolute power determine. The trustees meet from time to time to approve distributions made from the income of the settlement. Under the terms of the trust the endowment fund is expendable on such charitable purposes as the trustees determine. Under the Trust Deed the trustees have the power to accumulate the income of the trust fund as an accretion to the capital of the trust fund as in their absolute discretion they think fit. ## **Public benefit** The trustees, having regard to the Public benefit guidance published by the Charity Commission in accordance with section 17 of the Charities Act 2011, consider that that purpose and activities of the charity satisfy the requirements of the public benefit test set out in section 4 of the same act. ## **Organisation** The charity is governed by its trustees who may exercise all the powers contained within the Trust Deed. The trustees confirm that the major risks to which the charity is exposed have been reviewed and systems have been established to mitigate those risks. 2 THE GRETNA CHARITABLE TRusr Year ended 5 APAI 2022 R￿eW of the year Incoming and outgoing re50urce5 for the year are sec our in the &tw￿d sd*dule on a recepts and payments basis. The market v￿ue of the ￿veStr￿ent ptsrtfoli) has ￿Creased to a831.316 12021.. £Z613,179). Thb 1$ due to an kn¢rease in the market rdlue of the hol¢Jlng5 and further Purc1￿ in the year. Donatlom have been rnade by the trustXS to * variety of charitable ac¢ivltit%. Investmènt pow Under the trust deed. the tru5te¢5 may irtvest any monies in the wrthase of any investments or properw clwhitever nature and wherever situated as the tnLs¢¢es in their ab501utr dwetion thlnk fit Investment policy The trustees invest in mediumllow risk ￿ul[leS and bon￿ a view to d¥rvlng a reasonable yield ¢0 generate income for tharitabk contributions. REser¥es The of the trustees is to fulty expend the Inegme for the year and not accumulate intcme re5erve5. Although the endoyrnieni fund is expend2bl4 and is regularly %there donations in the year exG¢¢d income, it15 rnthtainÈd at level where the trustees feel confident it will provth i healthy income strearn tg fund the expeeTrrJ ann￿1 expeThditure. A H E P WALDUCK MRSA M DUNCAN ro 6£L 2022 |**Charity Name**||**No (if any)**||| |---|---|---|---|---| |**The Gretna Charitable Trust**||**1020533**||| |**Receipts andpayments accounts**||||**CC16a**| |06/04/2021
**For the period**
**from**
Period start date|**To**|Period end date
05/04/2022||| ## **Section A Receipts and payments** |**A1 Receipts**|**Unrestricted**
**funds**
**to the nearest**
**£**
**5,328**
**55,349**
**21,505**
**-**
**-**
**-**
**-**


**82,182**
**1,252,108**
**-**
**1,252,108**
**1,334,290**
**-**
**77,500**
**8,500**
**-**
**-**
**115**
**-**
**-**
**-**
**86,115**
**1,270,626**
**-**
**1,270,626**
**1,356,741**
**- 22,451**
**22,451**
**-**
**-**|**Restricted**
**funds**
**to the nearest £**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**|**Restricted**
**funds**
**to the nearest £**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**|**Endowment**
**funds**
**to the nearest £**|**Total funds**
**to the nearest £**
**5,328**
**55,349**
**21,505**
**-**
**-**
**-**
**-**
**82,182**
**1,252,108**
**-**
**1,252,108**
**1,334,290**|**Total funds**
**to the nearest £**
**5,328**
**55,349**
**21,505**
**-**
**-**
**-**
**-**
**82,182**
**1,252,108**
**-**
**1,252,108**
**1,334,290**|**Last year**
**to the nearest £**| |---|---|---|---|---|---|---|---| |||||**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**|||| |Interest|**5,328**||||**5,328**||**33**| |Dividends|**55,349**||||**55,349**||**61,545**| |Other investment income|**21,505**||||**21,505**||**10,358**| |Voluntarydonations|**-**||||**-**||**-**| ||**-**||||**-**||**-**| ||**-**||||**-**||**-**| ||**-**||||**-**||**-**| |**_Sub total_**_(Gross income for_
_AR)_|

**82,182**||||**82,182**||**71,936**| |||||**-**
**-**
**-**|||| |**A2 Asset and investment sales,**
**(see table).**|||||||| |Investment sales|**1,252,108**||||**1,252,108**||**1,085,971**| ||**-**||||**-**||**-**| |**_Sub total_**|**1,252,108**||||**1,252,108**||**1,085,971**| |**_Total receipts_ **
**A3 Payments**|||||||| |||||**-**|**1,334,290**||**1,157,908**| ||||||||| ||**-**|**-**||**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**|**-**||**-**| |Donationspaid|**77,500**|**-**|||**77,500**||**81,680**| |Investment management costs|**8,500**|**-**|||**8,500**||**7,479**| |Accountancyfees|**-**|**-**|||**-**||**-**| |Legal fees|**-**|**-**|||**-**||**-**| |Sundry|**115**|**-**|||**115**||**60**| ||**-**|**-**|||**-**||**-**| ||**-**|**-**|||**-**||**-**| ||**-**|**-**|||**-**||**-**| |**_Sub total_ **|**86,115**|**-**||**-**|**86,115**||**89,219**| |||||**-**
**-**
**-**|||| |**A4 Asset and investment**
**purchases, (see table)**|||||||| |Investmentpurchases|**1,270,626**||||**1,270,626**||**1,338,619**| ||**-**||||**-**||**-**| |**_Sub total_ **|**1,270,626**||||**1,270,626**||**1,338,619**| |**_Total payments_ **
**_Net of receipts/(payments)_**
**A5 Transfers between funds**
**A6 Cash funds last year end**
**_Cash funds this year end_**|||||||| |||||**-**|**1,356,741**||**1,427,838**| ||||||||| ||**- 22,451**|**-**||**-**|
**- 22,451**||**- 269,930**| ||**22,451**|**-**||**- 22,451**
**81,358**|**-**||**-**| ||**-**|**-**|||**81,358**||**351,288**| ||**-**|**-**||**58,907**|**58,907**||**81,358**| ## **Section B Statement of assets and liabilities at the end of the period** |**Categories**
**B1 Cash funds**|Barclays
Investec
**_Total cash funds_**
(agree balances with receipts and payments
account(s))
**Details**|**Unrestricted**
**funds**
**to nearest £**|**Restricted**
**funds**
**to nearest £**
**-**
**-**
**-**
**-**
OK|**Endowment**
**funds**
**to nearest £**| |---|---|---|---|---| |||**-**
**-**
**-**|**-**|**28,569**| ||||**-**|**30,338**| ||||**-**|**-**| |||**-**|**-**|**58,907**| |||OK||OK| UnTeStri¢ted fund5 Restrfctsd fund5 tonevrnt£ Endowrnent fund5 to nwr•st£ Dètsils Fund Iofthh aSSOtbBI Curr¢nlv•l Dètslls c0rytltypuon￿j B3 Invostmént assots 2,6M321 1831J16 Fwd ¢Dwl*h Detalls cL*ilopUon￿j ional B4 Assets relalnèd for the ch8rlty's o*MI use WhBndu* onal 85 Lsabllftle SIw8d by onE or 1*0 trustee5 an behElf ol all Ihé trusts8S T)ate of oval S¢nabJe Prlnl Name ALEXANOER WALDUCK 2L lio Itoll 161101￿ ALISON DUNCAN