THE GRETNA CHARITABLE TRUST REPOR T OF TH E TRUSTEES Yoar ended 5 April 2024 The trustees submit thelr report and accounts for th@ y@ar 8nded 5 April 2024. Thg account5 have been produced in accordanc8 with Ihe recelpts and paym8nts basis. Administrativo informatlon The trust was established by a daed datad 15 March 1993 and is a ragistered charity {No. 1020533). The trust's regislarad offlce is.. clo Th8 Directors Office Royal National Holel 38-51 Bedford Way London WC1H ODG Setllor Th8 Gretna Charitabla Trust was created by the generosity of H R Walduck, who tragically passed away on 8 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 Iru5tees, thes8 may be appoinled by the current Irustees and the personal represenlatlves of the late H R Walduck. Th8 tNstaes reGeive no relmbursement for thelr expenses. Object The tnjsvs objects are such charitable purposes as the trustees from time to time in their absolutè power detemilne. The trustees meet from time to time to approve distributions made from the income of th8 settlement. Under the terms of the trust the endowment fund is expendable on such charitable purpos88 as the trustees determine, Under the Trust Deed the trustees have the t)ower to accumulate the income of the trust fund as an accrelion to the capital of the trust fund as in their absolute discretion they think fit. Publlc beneflt The trustees, havlng regard to the Public benefit guidance published by the Charily Commission in accordance wlth section 17 of the Charities Act 2011, consld8r that that purpose and activities of the charity satlsfy the requlrements ofthe public benefit test set out In sectlDn 4 ofthe same act. Organi5ation The Charity is governed by its Iruslees who may exercise all the powers containad within thg Trust Deed. The trustees confirm that the major risks to which the charity is exposad have be8n reviewed and systems have been established to mitigate those risks. THE GRETNA CHARITABLE TRUST Year endod 5 April 2024 Review of the year Incoming and outgoing resources for th8 year are sel out in the attached schedul8 on a recaipts and paym@nts basis. The market value of the investment portfolio has increased to £2,755,45912Q23- £2,584.151) due to a number of investments purchased within the year. Donations have been made by the trustees to a variety of charitable activities. Investment powers Under the trust deed, the trustees may invest any moni8s in the purchas8 of any inv8Stm8nts or property of whatever nature and wher8V8r Situated as lh8 Iruslges in their absolulg discrelion think fit. Inv8stm8nt policy The truste&s invest in mediumllow risk equities and bonds, with a viaw to deriving a r8asonabl8 yi8ld lo gen8rat& income for charitab18 contributions. Reserves The aim of Iha trustees is to fully expend the incom8 for the year and not accumulate income reserves. Although the endowment fund is expendable, and is regularly applied where donalions in the year exceed income, it is maintained at a18v81 wh8r@ th8 truslees feel confid8nt it will provid8 a healthy income stream to fund Ihe expeoted annual exp8nditur8. A H E P WALDUCK MRS A M DUNCAN 2024 ## **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 2024** ## **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 2024. ## **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 rege, 7 Mn ly Dixon Wilson 22 Chancery Lane London WC2A 1LS 2024 26 September 3 CHARITY COMMISSION FDq ENGLAP4D AP4D VrfALES The G￿t￿a Charltsble Trust Receipts and payments accounts CC16a Forthe period from 0610412023 0510412024 Section A Receipts and payments Unre$tri¢ted funds Restricted funds Endowment funds Total fund$ Last year to the nearest the nearest £ to the nearest£ to the near8$t £ to th8 noarest £ A1 Receipts 11.763 42.380 25,67B 11,763 42,380 25,678 6.794 46,769 25,992 Dividends Other In¥eslmenl income Voluntary donations Sub total (Gross income for AR) 79.821 79,821 79,554 A2 Assgt and inve$tmenl $ale$, (see table). Investment sales 431,871 431.871 374,450 Sub totsl 431.871 431,871 374,450 Total receipts 511.691 $11.691 454.004 A3 Payments Donations paid Inv6$1menl managemenl costs Accountancy fees Legal fees Sundry 62.750 16.390 62,750 16,390 78,000 16,767 160 160 148 Sub total 79.300 79,30 94,914 A4 Assèt and investment purchases, Isee table Inve51menl urchases 444,79S 444.795 381,628 Sub total 444,795 444,Y95 361,628 Totalpayments 524.096 524,096 456,542 Net ofreceipts/(payments) A5 Transfers between funds A6 Cash funds last year end Cash funds this year end 12,404 12.404 12.404 2,538 12.404 S6,369 43,965 56,369 43,96S 58.907 56,369 Section B Statement of assets and liabilities at the end of the period UnrestriGted funds Restricted funds to noar85t £ Endowment funds to n8arest £ Categories Detsils to nearest £ B1 Cash funds Barclays 18,036 Inveslec 25.929 Totsl cash fiinds 43.965 a¢￿￿1$)) Unrestricted funds Restrictèd funds Endowment lunds D¢tails" to nearest £ to neare9t £ to nehre8t £ B2 Othor monetary assets Funé lo whlch a86el bolon Detsils Cos1 loptlunall CuTrentvalu o tionol B3 Invostment assols Quoted inv851rnents Endowmenl fund$ 2,614,6¢4 2.755,459 Fund Its whl¢h a8601 bolon Detalls C•¥t loptlonall Currènt valuo optlona B4 Assets rotalnod for tho charity's own use Fund lo whl¢h Ilablllfy Tel8te¥ Amount due When due Detsil B5 Liabilities Slgned by one or two trnsleos on behalf of all the Irustess Signature Print Name Date of approval zrlb? I 2s/of1&2 ALEXANDER WALDUCK ALISON DUNCAN