GLADYS JANE WIGHTWICK CHARITABLE TRUST ACCOUNTS FOR THE YEAR ENDED 5TH APRIL 2024
IDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE LADYS JANE WIGHTWICK CHARITABLE TRUST eport to the Iru5tees on the accounts of the Gladys Jane Wightwick Charitable Trust for the year ended 5 April 124, which are set out on pages 4 to 8. sponsibilities and basis of report the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the quirements of the Charities Acl 2011 {'the Act'l. 'eport in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in Irrying out my examination I have followed all the applicable Directions given by the Charity Commission under clion 145{5)Ib) of the Act_ dependent examinerfs statement iave completed my examination. I confirm that no material Tnatters have come to my attention in connection with the (amination giving me cause to believe that in any material respect.. 11 arcounting records were not kept in respect ol the Trust as required by secb'on 130 of the Act", or 2} the accoLJnts do not accord with those records.. or 3) the accounts da not comply with the applicable requirements concerning the form and Content of accounts set out in the Charities (Accounts and Reports) Regulaliofis 2008 other than any requirement that the accounts give a 'trLJe and fair view which is not a matter considered as part of an independent examination. have no concerns and have come across no olher matiers in connection wilh the examination to which attention iould be drawn in this report in order to enable a proper understanding of the accounts to be reached. Ir Daniel M Valentine ACA Fegbies Chartered Accountants Bonhill Street ondon .C2A 4
GLADYS JANE WIGHTWICK CHARITABLE TRUST ANNUAL REPORT FOR THE YEAR ENDED 5TH APRIL 2024 vernance and management Gladys Jane Wightwick Tnjsl is constituted under the terms of Clause 8 of the Will (dated 24 June 19691 of Miss dys Jane Wightwick, who died on 21 December 1969. charity is governed by the trustees who are all partners of Hunters Law LLP, solicitors to the trustees. The charity Iso administered by the firm. New trustees are appointed by deed of appointment by the existing trustees. trust is a registered charity (No 1024622) dress- clo Hunters Law LLP 9 New Square Lincoln's Inn London WC2A 3QN Istees= Mrs M F Elliott Mrs J L Lewis Mrs C Simm )fessional Advisors iicitors )kers ependent Examiner Hunlers Law LLP Irsvestec Wealth & Investrnenl Ltd Daniel Valentine ACA, Begbies Chartered Accountants ijects of the charity der the terTnS of Clause 8 of her Will dated 24 June 1969 Miss Gladys Jane Wighiwick who died on 21 December 39 directed that her residuary estate, defined as the Trust Fund, should be held "upon trust to pay or apply the ole or any part or parts of the capital or income of the Trust Fund lo or upon such charitable trusts for such aritable objects or charities ds the trustees in their ab501ute discrelion from lime to time or at any time think fit" ditional powers are given by Clause 9 without prpjudice to the generality of the primary trust. tivitie5 for the public benefit and plans for future periods the objects of the Chariiy are not linked to any specrfic aieas of charitable activity, the trustees receive a large mber of applications for dofiations. In keeping with the founder's general charitable intentions, the trustees award nations to a variety of charitable bodies nomialty in the spring and autumn of each year. e trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance public benefit when reviewing Ihe Trust's aims and objectives and in setting the grant making policy for the year. hievements. performance and financial review ie attached financial st6tements show the current financial position, which the truslees consider sound_ Inveslrnenl ome for the year was £25.323.58. No donations iveie paid Ihis year. Governance costs were £10,299, 01 which ,569 wa5 charged to income and £8,730 to the capital account. The investment portolio stood al £800,961 at tbe ar-end up 0.60/, from 2023. The 5 April 2024 accumulated balances on the income and capital accounts were 8,376.01 and £779,467.64 respectively
GLADYS JANE WIGHTMCK CHARITABLE TRUST ANNUAL REPORT FOR THE YEAR ENDED 5TH APRIL 2024
tve5 Policy tru5tees' policy is to keep adequate reserves. at the same time ensuring that the charitable expenditure is ,istent with the aims of the charity. ., Management trustees have assessed the maior risks to which the charity is exposed. They are satisfied that adequate edures are in place to mitigate exposure to these risks. Istment policy and performance slec Wealth & Investment Ltd maage the investment portfolio under a discretionary agreement and hold thL' stments in their nominee company on behalf of the trustees_ The stated investment objective 15 to provide a 3ble balance (between growth and income) from a well diversified set of investments with medium risk with a long ) time horizon. The trustees have reviewed Ihe investment performance and are sat15fied that the portfolio is Ig managed so as lo meet Ihis objective. The truslees, ifTvestment policy does not require any particular ethical, al or environmental considerations to be taken into account. Stee5. Responsibilities in Relation to the Financial Statements Iru5tees are required to prepare financial stateTnents for each financial year which give a true and fair view of the rity'5 financial activities during the year and of its financial posibon at the end of the year. In preparing those ncial statements. the Trustees are required to- elect suitable accounting policie5 and then apply them consi5lently'. nake judgernents and estimates that are reasonable and prudent- 'tale whether applicable accounting standards and statements of recommended practice have been ollowed subject to any departures disclosed and explained in the financial slatemenis- and )repare the financial statements on the ongoing basis unless it is inappropriate to presume that the harity will continue in business. e trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any tirne the ancial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 11_ They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for prevention and detection of fraud and other irregularities. Jned ,A RS M F ELLIOTT . 2024 n behalf of the trustees
GLADYS JANE WIGHTWICK CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5TH APRIL 2024 Unrestricted funds Unrestricted funds Notes Income Capital 2023124 Income Capital 2022/23 ,,come from investments xed interest stock K unit trust interest K dividends verseas stock eposit interest otal income 649.93 1.852.09 16.835.72 5,590.34 395.50 649.93 1,852.09 16,835.72 5.590.34 395.50 470.93 1.561_53 17, 109.63 4,502.80 153.53 470.93 1,567.53 17,109.63 4,502.80 153.53 25.323.58 25 323.58 23. 706. 72 23. 798.42 xpenditure on.. haritable activities harilable donations overnance cost5 24,000.00 1.561.00 24, 000.00 71.37t.00 1.568.50 1.568.50 8.730.00 10.298.50 9.810.90 8.730.00 10.298.50 25,561.00 9,810.00 35.377.00 aising funds roker's fees 7.433.39 16,163.39 7,433.39 17,731.89 7,894.72 17, 704.72 7,894.72 otal expenditure 1,568.50 25,561.00 43, 265. 72 et110sses}Igains on invostments 25,289.61 25.289.61 (48. 113.36) (48, 113.36) et (expenditure)lincome 23.755.08 9.126.22 32,881.30 (1.854.28) (65,818.08) (67,580.66) .econciliation of funds unds brought foTward unds carried forward 24.620.93 770.341.42 794.962.35 48.376.01 779,467.64 827.843.65 26.383.51 836. 159.50 862,543.01 24.52g.23 770.341.42 794,962 35 he notes on pages 6 to 8 fomi part of these accounts
GLADYS JANE WIGHTWICK CHARITABLE TRUST BALANCE SHEET AS AT 5 APRIL 2024 Noles 2024 2023 ed Assets oted investments at market value 800,961.00 796,301.00 rrent assets sh at Investec Wealth & Investment Ltd sh at C Hoare & Co 1.250.64 34.469.01 2,829.95 29,976.40 35,719.65 32.746.35 ditors: amounts falling due within one year nations payable (2.225.00) (2,225.00) 6.612.00 31 860.00 t current assets 26.882.65 1..9.78. 65 t assets 827.843.65 794,962.35 presented by: restricted funds pital Fund .ome Fund 779.467.64 770,341.42 48.376.01 24,620.g3 827.843.65 794,962.35 proved by the trustees on...- I l. 2024 a( MRS M F ELLIOTT MRS J L LEWIS MRS C SIMM e notes on pages 6 to 8 form part of Ihese account5
GLADYS JANE WIGHTWICK CHARITABLE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5TH APRIL 2024 CCOUNTING POLICIES ie following policies have been used in dealing with items which are considered material in relation to the charity's counts. asis of preparation and assessment of going concern iese accoLJnls have been prepared under the historic cost convention with the exceplion that investments are cluded at market value. The accounts are prepared in accordance with Accuunting and Reporting by Charities." latement of Recommended Practice applicable to chan-ties preparing their accounts in accordance with the 'nancial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 20151, the harities Act 2011 and UK Generally Accepted Practice a5 It applies from 1 January 2015_ ie charity constitutes a public benefit entity as defined by FRS 102. ie trustees consl(Jer Ihai (here are no tnatprial uncertalnlles at)OUi Ihe charllys abillly lo continue a5 a going )ncern. nrestricted funds ie trustees may pay or apply the whole or any part or parts of the capital or income funds for any charitable purpose the trustees in their absolLJte discretion think fil. The capital fund comprises the initial capitsl of the trust, all Jbsequent gains and losses on those assets less associated costs. Income from the trust's a55ets less donations 4yable and associated costs are accumulated in the income fund. ,come 11 income 15 recognised once the charity has entitlement to the resources. il is probable that the resources will be bceived and the monetary value of incoming resources can be measured with sufficient reliability. As a charitable Jsl, there is no liability to IncoTne Tax and all Income is shown gross insofar as tax deducted is repayable. Where x credits are not repayable the income is included net of tsx. xpenditure abilities are recognised as resources as soon as Ihere is a legal or constructive obligation committing the charity to e expenditure. Expenditure is accounted for on an accruals basis with the irrecoverable element of VAT included ithin the category of expense to which it relates_ 05ts of charitable activities are direct costs of the charity ip. undertaking its work lo meet it5 charitable objectives and )nsist of charitable donations. Governance cosls includes those costs associated with meeting the constitutional Id statutory requirements of the charity. Costs of raising funds consists of direct costs of managing the vestments. ixed asset investments and olher financial instruments uoted investments are initially recogni5ed at their transactions value and sub5equenlly measurcd al their fair va5ue
at the balance sheet dale using the closing quoted market value_ Nel gains and losses arising on revaluation and sposals accumulate In the capilal fund. 15 other financial assets and financial liabililies are initially recognised at transaction value and subsequently easured at their settlement value.
GLADYS JANE WIGHTWICK CHARITABLE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5TH APRIL 2024 IRESTRICTED FUNDS e funds consist af unrestricted funds only left by Miss Gladys Jane Wightwick, who died on 21 December 1969, der the terms of her Will {dated 24 June 1969). e capital fund comprises the initial capital of the trust. all subsequent gains and losses on those assets less iocialed costs. Income from the trust's assets accumulate in the income fund. Donations. and associated costs paid from the income fund. e trustees may however pay or apply the whole or any part or parts of the capital or income funds for any charitable rpose as the trustees in their absolute discretion think fit. )NATIONS Gharitable donations were made during the year ended 5 April 2024. )VERNANCE COSTS Unrestricted Funds Income Capital 2023124 Unreslricted Funds Capital Income 2022123 ministration fee5 {Hunters) nk charges COLJntancy and Independent amination 1,200.00 368.50 5.250.00 6.450.00 368.50 1.200.00 361_00 6,300.00 7,500.00 361.00 3.480.00 3.480.00 10.298.50 3.510.00 3.510.00 11,371.00 1.568.50 8.730.00 1,561.00 9,810.00
GLADYS JANE WIGHTWICK CHARITABLE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5TH APRIL 2024 USTEES. REMUNERATION, EMPLOYEES AND RELATED PARTY TRANSACTIONS charity had no employees in the year. the trLJStees are partners of Hunters Law LLP. 501icilors to the trustees. The firm charges for admillistering the -t's affairs at the usual trust rate_ The amounts charged are shown in note 4. re were no other related party transactions. No other payTnents were made to any trustee, including the nbLJrsement of expenses. OTED INVESTMENTS investments are held by the notninee company of lllvestec Wealth & Investment Ltd for Ihe Irustees. 2023124 2022/23 rket valLJe at 6 April 2a23 itions ',posals t unrealised investment gainsl(losses) Irket value at 5 April 2024 796.301.00 852, 655.00 39,615.42 44,425.51 (64,056.78) (56,998. 17) 29,101.36 43,781.34 800 961.00 796.301.00 torical cost at 5 April 2024 620,733.31 634,349.05 IALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted Funds Incorne Capital 2023124 Unrestricted Funds Capital Income 2023?3 ed assets 800.961.00 800.961.0 51,801.D1 116.081.36) 35.719.65 52,045.93 796.307.00 (19,299.58) 796,301.00 32,746.35 rrent assets editors.. amounts falling due hin one year 3,42S.00 5.412.00 8.837.00 27.425.00 6.660.00 34.085.00 48 376.01 779 467.64 827.843.65 24,620.93 770,341.42 794,962.35