GLADYS JANE WIGHTWICK CHARITABLE TRUST
ACCOUNTS FOR THE YEAR ENDED
5TH APRIL 2025
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE GLADYS JANE WIGHTWICK CHARITABLE TRUST
I report to the trustees on the accounts of the Gladys Jane Wightwick Charitable Trust for the year ended 5 April 2025, which are set out on pages 4 to 8.
Responsibilities and basis of report
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’).
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.
Independent examiner's statement
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; or
-
3) the accounts do 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.
Mr Daniel M Valentine ACA Begbies Chartered Accountants
9 Bonhill Street London EC2A 4DJ
- ….............................
1
GLADYS JANE WIGHTWICK CHARITABLE TRUST
ANNUAL REPORT FOR THE YEAR ENDED 5TH APRIL 2025
Governance and management
The Gladys Jane Wightwick Trust is constituted under the terms of Clause 8 of the Will (dated 24 June 1969) of Miss Gladys Jane Wightwick, who died on 21 December 1969.
The charity is governed by the trustees who are all partners of Hunters Law LLP, solicitors to the trustees. The charity is also administered by the firm. New trustees are appointed by deed of appointment by the existing trustees.
The trust is a registered charity (No 1024622)
Address: c/o Hunters Law LLP
9 New Square Lincoln's Inn London WC2A 3QN
Trustees: Mrs M F Elliott
Mrs J L Lewis Mrs C Simm
Professional Advisors
Solicitors Hunters Law LLP Brokers Investec Wealth & Investment Ltd Independent Examiner Daniel Valentine ACA, Begbies Chartered Accountants
Objects of the charity
Under the terms of Clause 8 of her Will dated 24 June 1969 Miss Gladys Jane Wightwick who died on 21 December 1969 directed that her residuary estate, defined as the Trust Fund, should be held "upon trust to pay or apply the whole or any part or parts of the capital or income of the Trust Fund to or upon such charitable trusts for such charitable objects or charities as the trustees in their absolute discretion from time to time or at any time think fit". Additional powers are given by Clause 9 without prejudice to the generality of the primary trust.
Activities for the public benefit and plans for future periods
As the objects of the Charity are not linked to any specific areas of charitable activity, the trustees receive a large number of applications for donations. In keeping with the founder's general charitable intentions, the trustees award donations to a variety of charitable bodies normally in the spring and autumn of each year.
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives and in setting the grant making policy for the year.
Achievements, performance and financial review
The attached financial statements show the current financial position, which the trustees consider sound. Investment income for the year was £26,572.82. £48,000 of donations were paid this year. Governance costs were £17,426, of which £1,568 was charged to income and £15,858 to the capital account. The investment portolio stood at £789,666 at the year-end down 1.4% from 2024. The 5 April 2025 accumulated balances on the income and capital accounts were £27,606.33 and £751,718.70 respectively.
2
GLADYS JANE WIGHTWICK CHARITABLE TRUST
ANNUAL REPORT FOR THE YEAR ENDED 5TH APRIL 2025
Reserves Policy
The trustees' policy is to keep adequate reserves, at the same time ensuring that the charitable expenditure is consistent with the aims of the charity.
Risk Management
The trustees have assessed the major risks to which the charity is exposed. They are satisfied that adequate procedures are in place to mitigate exposure to these risks.
Investment policy and performance
Investec Wealth & Investment Ltd manage the investment portfolio under a discretionary agreement and hold the investments in their nominee company on behalf of the trustees. The stated investment objective is to provide a suitable balance (between growth and income) from a well diversified set of investments with medium risk with a long term time horizon. The trustees have reviewed the investment performance and are satisfied that the portfolio is being managed so as to meet this objective. The trustees' investment policy does not require any particular ethical, social or environmental considerations to be taken into account.
Trustees' Responsibilities in Relation to the Financial Statements
The trustees are required to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities during the year and of its financial position at the end of the year. In preparing those financial statements, the Trustees are required to:
select suitable accounting policies and then apply them consistently;
make judgements and estimates that are reasonable and prudent;
state whether applicable accounting standards and statements of recommended practice have been followed subject to any departures disclosed and explained in the financial statements; and
prepare the financial statements on the ongoing basis unless it is inappropriate to presume that the Charity will continue in business.
The trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed
MRS M F ELLIOTT
….............................. 2026
On behalf of the trustees
3
GLADYS JANE WIGHTWICK CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 5TH APRIL 2025
| Income from investments Fixed interest stock UK unit trust interest UK dividends Overseas stock Deposit interest Total income Expenditure on: Charitable activities Charitable donations 3 Governance costs 4 Raising funds Broker's fees Total expenditure Net (losses)/gains on investments Net (expenditure)/income Reconciliation of funds Funds brought forward Funds carried forward Notes |
Income Capital 2024/25 Income Capital 2023/24 £ £ £ £ £ £ 52.05 - 52.05 649.93 - 649.93 2,003.38 - 2,003.38 1,852.09 - 1,852.09 16,618.05 - 16,618.05 16,835.72 - 16,835.72 7,420.59 - 7,420.59 5,590.34 - 5,590.34 478.75 - 478.75 395.50 - 395.50 26,572.82 - 26,572.82 25,323.58 - 25,323.58 45,775.00 - 45,775.00 - - - 1,567.50 15,858.00 17,425.50 1,568.50 8,730.00 10,298.50 47,342.50 15,858.00 63,200.50 1,568.50 8,730.00 10,298.50 - 6,668.89 6,668.89 - 7,433.39 7,433.39 47,342.50 22,526.89 69,869.39 1,568.50 16,163.39 17,731.89 - (5,222.05) (5,222.05) - 25,289.61 25,289.61 (20,769.68) (27,748.94) (48,518.62) 23,755.08 9,126.22 32,881.30 48,376.01 779,467.64 827,843.65 24,620.93 770,341.42 794,962.35 27,606.33 751,718.70 779,325.03 48,376.01 779,467.64 827,843.65 Unrestricted funds Unrestricted funds |
|---|---|
The notes on pages 6 to 8 form part of these accounts
4
GLADYS JANE WIGHTWICK CHARITABLE TRUST
BALANCE SHEET
AS AT 5 APRIL 2025
| Notes Fixed Assets Quoted investments at market value 6 Current assets Cash at Investec Wealth & Investment Ltd Cash at C Hoare & Co Creditors: amounts falling due within one year Donations payable Accruals Net current assets Net assets Represented by: Unrestricted funds 2 Capital Fund 7 Income Fund 7 Approved by the trustees on….................... 2026 |
2025 2024 £ £ 789,666.00 800,961.00 939.16 1,250.64 26,369.87 34,469.01 27,309.03 35,719.65 (24,000.00) (2,225.00) (13,650.00) (6,612.00) (10,340.97) 26,882.65 779,325.03 827,843.65 751,718.70 779,467.64 27,606.33 48,376.01 779,325.03 827,843.65 |
|---|---|
MRS M F ELLIOTT MRS J L LEWIS MRS C SIMM
The notes on pages 6 to 8 form part of these accounts
5
GLADYS JANE WIGHTWICK CHARITABLE TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 5TH APRIL 2025
1. ACCOUNTING POLICIES
The following policies have been used in dealing with items which are considered material in relation to the charity's accounts.
Basis of preparation and assessment of going concern
These accounts have been prepared under the historic cost convention with the exception that investments are included at market value. The accounts are prepared in accordance with Accounting and Reporting 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 (FRS 102) (effective 1 January 2015), the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015.
The charity constitutes a public benefit entity as defined by FRS 102.
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Unrestricted funds
The trustees may pay or apply the whole or any part or parts of the capital or income funds for any charitable purpose as the trustees in their absolute discretion think fit. The capital fund comprises the initial capital of the trust, all subsequent gains and losses on those assets less associated costs. Income from the trust's assets less donations payable and associated costs are accumulated in the income fund.
Income
All income is recognised once the charity has entitlement to the resources, it is probable that the resources will be received and the monetary value of incoming resources can be measured with sufficient reliability. As a charitable trust, there is no liability to Income Tax and all income is shown gross insofar as tax deducted is repayable. Where tax credits are not repayable the income is included net of tax.
Expenditure
Liabilities are recognised as resources as soon as there is a legal or constructive obligation committing the charity to the expenditure. Expenditure is accounted for on an accruals basis with the irrecoverable element of VAT included within the category of expense to which it relates.
Costs of charitable activities are direct costs of the charity in undertaking its work to meet its charitable objectives and consist of charitable donations. Governance costs includes those costs associated with meeting the constitutional and statutory requirements of the charity. Costs of raising funds consists of direct costs of managing the investments.
Fixed asset investments and other financial instruments
Quoted investments are initially recognised at their transactions value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market value. Net gains and losses arising on revaluation and disposals accumulate in the capital fund.
All other financial assets and financial liabilities are initially recognised at transaction value and subsequently measured at their settlement value.
6
GLADYS JANE WIGHTWICK CHARITABLE TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 5TH APRIL 2025
2. UNRESTRICTED FUNDS
The funds consist of unrestricted funds only left by Miss Gladys Jane Wightwick, who died on 21 December 1969, under the terms of her Will (dated 24 June 1969).
The capital fund comprises the initial capital of the trust, all subsequent gains and losses on those assets less associated costs. Income from the trust's assets accumulate in the income fund. Donations, and associated costs are paid from the income fund.
The trustees may however pay or apply the whole or any part or parts of the capital or income funds for any charitable purpose as the trustees in their absolute discretion think fit.
3. DONATIONS
The charitable donations made by the Trustees during the year ended 5 April 2025 are made up as follows:-
| Armonico Consort Ltd Become Charity Carers UK Chestnut Tree House (St Barnabas Hospices (Sussex) Ltd) The Children's Adventure Farm Trust Cirdan Sailing Trust Christian Aid City Gate Community Projects Dementia UK Grief Encounter Hampshire and Isle of Wight Air Ambulance Macmillan Cancer Support Maggie's The Mission to Seafarers The New Bridge Foundation The Prince & Princess of Wales Hospice Prison! Me! No! Way! (The No Way Trust Limited) Project Trust Refreshing Minds Royal Trinity Hospice St Mungo Community Housing Association Stubs Ltd Sunny Days Children's Fund Support Dogs Ltd Support Through Court Surrey Drug and Alcohol Care Ltd Tall Ships Youth Trust Teenage Cancer Trust Toynbee Hall Treloar Trust Muir Maxwell Trust - cheque written back |
Reg'd Charity £ Number 1,600 1103159 1,600 1010518 1,600 246329 1,600 256789 1,600 1003675 1,600 1091598 1,600 1105851 1,600 1093245 1,600 1039404 1,600 1175837 1,600 1106234 1,600 261017 1,600 SC024414 1,600 1123613 1,600 1103511 1,600 SC012372 1,600 1049059 1,600 SC025668 1,600 1166079 1,600 1013945 1,600 1149085 1,600 1128980 1,600 1114784 1,600 1088281 1,600 1090781 1,600 1151494 1,600 314229 1,600 1062559 1,600 211850 1,600 1092857 48,000 (2,225) 45,775 |
|---|---|
7
GLADYS JANE WIGHTWICK CHARITABLE TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 5TH APRIL 2025
| GOVERNANCE COSTS Administration fees (Hunters) Bank charges Accountancy and Independent examination |
Income Capital 2024/25 Income Capital 2023/24 £ £ £ £ £ £ 1,200.00 12,078.00 13,278.00 1,200.00 5,250.00 6,450.00 367.50 - 367.50 368.50 - 368.50 - 3,780.00 3,780.00 - 3,480.00 3,480.00 1,567.50 15,858.00 17,425.50 1,568.50 8,730.00 10,298.50 Unrestricted Funds Unrestricted Funds |
|---|---|
4. GOVERNANCE COSTS
5. TRUSTEES' REMUNERATION, EMPLOYEES AND RELATED PARTY TRANSACTIONS
The charity had no employees in the year.
All the trustees are partners of Hunters Law LLP, solicitors to the trustees. The firm charges for administering the trust's affairs at the usual trust rate. The amounts charged are shown in note 4.
There were no other related party transactions. No other payments were made to any trustee, including the reimbursement of expenses.
6. QUOTED INVESTMENTS
The investments are held by the nominee company of Investec Wealth & Investment Ltd for the trustees.
| Market value at 6 April 2024 Additions Disposals Net unrealised investment gains/(losses) Market value at 5 April 2025 Historical cost at 5 April 2025 |
2024/25 2023/24 £ £ 800,961.00 796,301.00 131,853.56 39,615.42 (107,968.33) (64,056.78) (35,180.23) 29,101.36 789,666.00 800,961.00 641,676.63 620,733.31 |
|---|---|
7. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Fixed assets Current assets Creditors: amounts falling due within one year |
Income Capital 2024/25 Income Capital 2023/24 £ £ £ £ £ £ - 789,666.00 789,666.00 - 800,961.00 800,961.00 52,806.33 (25,497.30) 27,309.03 51,801.01 (16,081.36) 35,719.65 (25,200.00) (12,450.00) (37,650.00) (3,425.00) (5,412.00) (8,837.00) 27,606.33 751,718.70 779,325.03 24,620.93 770,341.42 827,843.65 Unrestricted Funds Unrestricted Funds |
|---|---|
8