## **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