Charity registration number 1062091 (England and Wales) Company registration number 03231164
JOSEPH WILLIAMSON SOCIETY
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
JOSEPH WILLIAMSON SOCIETY
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Mr A C Walker Mr B I Jones Secretary Mr A C Walker Charity number (England and Wales) 1062091 Company number (England and Wales) 03231164 Registered office Williamson Tunnels Heritage Centre The Old Stableyard Smithdown Lane Liverpool Merseyside L7 3EE Independent examiner Monetta LLP 110-114 Duke Street Liverpool L1 5AG
JOSEPH WILLIAMSON SOCIETY
CONTENTS
| Page | |
|---|---|
| Trustees report | 1 - 2 |
| Statement of Trustees responsibilities | 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 14 |
JOSEPH WILLIAMSON SOCIETY
TRUSTEES REPORT (INCLUDING DIRECTOR'S REPORT) FOR THE YEAR ENDED 31 JANUARY 2025
The Trustees , who are the directors for the purpose of company law, present their annual trustees’ report with financial statements for the year ended 31 January 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".
Objectives and activities
Public benefit
The purposes of the charity are to advance the education of the public in the life and philanthropic achievements of Joseph Williamson together with the operation and management of a heritage centre dedicated to this task. In addition, the charity is involved with the restoration and preservation of the tunnels, structures and buildings created by Joseph Williamson.
In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission’s guidance on public benefit, including the guidance ‘public benefit: running a charity (PB2)’. The society relies on the income from fees and charges to cover its operating costs. Affordability and access to our facilities is important to us and is reflected in our pricing policy.
Achievements and performance
Significant activities and achievements against objectives
The results for the year and financial position of the charity are as shown in the annexed financial statements. During the year the charity continued to develop the operation of the heritage centre. The trustees continue to seek further funding to enable them to improve and expand the facilities offered and to enable them to continue to open up further tunnels and structures for public access.
The trustees take this opportunity of recognising the contributions of time and effort made by the many friends, volunteers and supporters without whom the achievements to date would not have happened.
Financial review
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JOSEPH WILLIAMSON SOCIETY
TRUSTEES REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025
Reserves policy
Reserves are needed to bridge the gap between the spending and receiving of income and to cover unplanned emergency repairs and other expenditure. The trustees consider that the ideal level of reserves would be in the region of £350,000. The charity had no reserves after allowing for the resources represented by tangible assets. This situation is largely attributable to past operating deficits and the need to finance the interest and debt repayments on the funding loans.
The trustees acknowledge the continued financial support and patience of the lender and consider that, providing the financial support continues, the charity should be able to continue operations for the foreseeable future. The trustees continue to consider ways in which additional unrestricted funds can be raised.
Risk Management
The trustees have a risk management strategy which comprises an annual review of the principal risks and uncertainties that the charity and its subsidiary undertaking face and, the establishment of policies, systems, and procedures to mitigate those risks identified in the annual review; and the implementation of procedures designed to minimise or manage any potential impact on the charity should those risks materialise.
This work has identified that financial sustainability is the major financial risk for both the charity and its subsidiary. A key element in the management of financial risk is a regular review of available liquid funds to settle debts as they fall due and active management of trade debtors and creditor balances to ensure sufficient working capital is available to the charity and its subsidiary company.
Attention has also been focused on non-financial risks arising from fire, health and safety and food hygiene. These risks are managed by ensuring accreditations are up to date, having robust policies and procedures in place, and regular awareness training for staff and volunteers working in these operational areas.
Structure, governance and management
Joseph Williamson Society is a company limited by guarantee, incorporated on 30 July 1996, and registered as a charity on 25 April 1997. Members of the charitable company guarantee to contribute an amount not exceeding £10 in the event of the charity winding up.
The company is governed by the policies made from time to time by the trustees together with the terms of its Memorandum and Articles of Association which set out the objects and powers of the company. The procedures for the appointment, retirement and removal of trustees are set out in the Articles. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.
The day-to-day operational aspects of the charity have been delegated to the Manager - Dave Bridson and his team of volunteers.
The Trustees report was approved by the Board of Trustees.
Mr B I Jones
25 November 2025
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JOSEPH WILLIAMSON SOCIETY
STATEMENT OF TRUSTEES RESPONSIBILITIES
FOR THE YEAR ENDED 31 JANUARY 2025
The Trustees, who are also the directors of Joseph Williamson Society for the purpose of company law, (who are also the directors of Joseph Williamson Society for the purposes of company law) are responsible for preparing the Trustees Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation.
The Trustees are responsible for keeping adequate accounting records that 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 Companies Act 2006. 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.
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JOSEPH WILLIAMSON SOCIETY
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF JOSEPH WILLIAMSON SOCIETY
I report to the Trustees on my examination of the financial statements of Joseph Williamson Society (the Charity) for the year ended 31 January 2025.
Responsibilities and basis of report
As the Trustees of the Charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.
Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the Charity as required by section 386 of the Companies Act 2006.
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
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4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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 financial statements to be reached.
Keith Miller FCA
Monetta LLP
110-114 Duke Street Liverpool L1 5AG 25 November 2025
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JOSEPH WILLIAMSON SOCIETY
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 JANUARY 2025
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2025 | 2024 | ||
| Notes | £ | £ | |
| Income from: | |||
| Donations and legacies | 3 | 2,512 | 966 |
| Charitable activities | 4 | 25,077 | 18,187 |
| Total income | 27,589 | 19,153 | |
| Expenditure on: | |||
| Charitable activities | 5 | 34,270 | 33,798 |
| Total expenditure | 34,270 | 33,798 | |
| Net expenditure and movement in funds | (6,681) | (14,645) | |
| Reconciliation of funds: | |||
| Fund balances at 1 February 2024 | 150,175 | 164,820 | |
| Fund balances at 31 January 2025 | 143,494 | 150,175 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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JOSEPH WILLIAMSON SOCIETY
BALANCE SHEET
AS AT 31 JANUARY 2025
| Notes Fixed assets Tangible assets 11 Investments 12 Current assets Debtors 13 Cash at bank and in hand Creditors: amounts falling due within one year 15 Net current liabilities Total assets less current liabilities Creditors: amounts falling due after more than one year 16 Net assets The funds of the Charity Unrestricted funds 18 |
2025 £ £ 479,979 - 2,240 3,591 5,831 (10,905) (5,074) 474,905 (331,411) 143,494 143,494 143,494 |
2024 £ £ 484,684 - 2,265 2,883 5,148 (8,246) (3,098) 481,586 (331,411) 150,175 150,175 150,175 |
|---|---|---|
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 January 2025.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on 25 November 2025
Mr B I Jones
Company registration number 03231164 (England and Wales)
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JOSEPH WILLIAMSON SOCIETY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
1 Accounting policies
Charity information
Joseph Williamson Society is a private company, limited by guarantee, registered in England & Wales and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charitable company. The company’s registered number and registered office address can be found on page 1.
1.1 Basis of preparation
The financial statements have been prepared in accordance with the Charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The Charity is a Public Benefit Entity as defined by FRS 102.
The Charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.
The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, the principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
Post balance sheet events
The Society remains in discussion with representatives of a company, purporting to be the owner of the freehold interest in the land and buildings, for which the Society holds a long-term lease, They allege that they do not recognise the long leasehold interest of the Society and the trustees are awaiting clarification of the correct legal position. No provision has been made within the financial statements for any possible diminution in value of the carrying amount at which the leasehold interests are recorded in the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
1.4 Income
Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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JOSEPH WILLIAMSON SOCIETY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025
1 Accounting policies
(Continued)
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold land and buildings Straight-line over 125-year lease term
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
1.7 Impairment of fixed assets
At each reporting end date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.9 Financial instruments
The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
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JOSEPH WILLIAMSON SOCIETY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025
1 Accounting policies
(Continued)
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.
1.10 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.11 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2 Critical accounting estimates and judgements
In the application of the Charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Income from donations and legacies
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2025 | 2024 | |
| £ | £ | |
| Donations | 263 | 181 |
| Gift Aid distribution from subsidiary undertaking | 2,239 | 785 |
| Memberships | 10 | - |
| 2,512 | 966 |
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JOSEPH WILLIAMSON SOCIETY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025
4 Income from charitable activities
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2025 | 2024 | |
| £ | £ | |
| Incoming funds | ||
| Operation of heritage centre - admissions and sales | 25,077 | 18,187 |
5 Expenditure on charitable activities
| Charitable | Charitable | ||
|---|---|---|---|
| expenditure | expenditure | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Direct costs | |||
| Staff costs | 17,246 | 17,246 | |
| Depreciation and impairment | 4,705 | 4,705 | |
| Water charges | 575 | 836 | |
| Rates | 37 | 53 | |
| Insurances | 3,567 | 3,388 | |
| Light and heat | 3,759 | 4,006 | |
| Postage and stationery | 42 | 4 | |
| Bank charges and card payment processing fees | 250 | 310 | |
| Telephone and internet | 671 | 515 | |
| Repairs, security and cleaning | 1,842 | 1,827 | |
| Statutory filing fees | 34 | 13 | |
| Interest on employment taxes | 1 | - | |
| 32,729 | 32,903 | ||
| Share of support and governance costs (see note 6) | |||
| Governance | 1,541 | 895 | |
| 34,270 | 33,798 | ||
| Analysis by fund | |||
| Unrestricted funds | 34,270 | 33,798 | |
| 6 | Support costs allocated to activities | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Governance costs | 1,541 | 895 | |
| Analysed between: | |||
| Charitable expenditure | 1,541 | 895 |
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JOSEPH WILLIAMSON SOCIETY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025
| 7 | Net movement in funds | 2025 | 2024 |
|---|---|---|---|
| £ | £ | ||
| The net movement in funds is stated after charging/(crediting): | |||
| Fees payable for the independent examination of the charity's financial | |||
| statements | 1,541 | - | |
| Depreciation of owned tangible fixed assets | 4,705 | 4,705 |
8 Trustees
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year.
9 Employees
The average monthly number of employees during the year was:
| 2025 | 2024 | |
|---|---|---|
| Number | Number | |
| 1 | 1 | |
| Employment costs | 2025 | 2024 |
| £ | £ | |
| Wages and salaries | 16,800 | 16,800 |
| Other pension costs | 446 | 446 |
| 17,246 | 17,246 |
There were no employees whose annual remuneration was more than £60,000.
10 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
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JOSEPH WILLIAMSON SOCIETY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025
| 11 | Tangible fixed assets | |
|---|---|---|
| Leasehold | ||
| land and | ||
| buildings | ||
| £ | ||
| Cost | ||
| At 1 February 2024 | 588,174 | |
| At 31 January 2025 | 588,174 | |
| Depreciation and impairment | ||
| At 1 February 2024 | 103,490 | |
| Depreciation charged in the year | 4,705 | |
| At 31 January 2025 | 108,195 | |
| Carrying amount | ||
| At 31 January 2025 | 479,979 | |
| At 31 January 2024 | 484,684 | |
| 12 | Fixed asset investments | |
| Total | ||
| £ | ||
| Cost or valuation | ||
| Carrying amount | ||
| At 31 January 2025 | - | |
| At 31 January 2024 | - |
The charity holds the following investments at the balance sheet date in its wholly owned trading subsidiary which is incorporated in the United Kingdom: JWS Trading Limited (a company limited by guarantee and wholly controlled by Joseph Williamson Society). Registered office: Williamson Tunnels Heritage Centre, The Old Stableyard, Smithdown Lane, Liverpool L7 3EE.
Nature of business: Operation of a café and performance space with associated sales of merchandise to support the charitable activities of Joseph Williamson Society.
Gift aid donations totalling £2,239 (2024: £785) were recognised from JWS Trading Limited. This represented the whole of the profits for each year. The aggregate amount of its assets, liabilities and funds at 31 January 2025 and 31 January 2024 was nil. The company’s turnover and expenditure for each year (including the amounts donated to Joseph Williamson Society) was £3,098 (2024: £1,264).
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JOSEPH WILLIAMSON SOCIETY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025
13 Debtors
| 13 Debtors |
||
|---|---|---|
| Amounts falling due within one year: Amounts owed by fellow group undertakings Prepayments and accrued income 14 Loans and overdrafts Other loans Payable after one year |
2025 £ 1,134 1,106 2,240 2025 £ 331,411 331,411 |
2024 £ 866 1,399 |
| 2,265 | ||
| 2024 £ 331,411 |
||
| 331,411 |
There have been no communications from the lender for many years and the trustees are uncertain as to whether the loan remains repayable or has been forgiven. For this reason, no further interest has been accrued in the accounts for periods since 31 January 2021. The trustees continue to try to establish the correct position.
15 Creditors: amounts falling due within one year
| 15 Creditors: amounts falling due within one year |
||
|---|---|---|
| Other taxation and social security Trade creditors Other creditors Accruals and deferred income 16 Creditors: amounts falling due after more than one year Borrowings 17 Retirement benefit schemes Defined contribution schemes Charge to profit or loss in respect of defined contribution schemes |
2025 £ 665 5 7,984 2,251 10,905 2025 £ 331,411 2025 £ 446 |
2024 £ 191 5 6,958 1,092 |
| 8,246 | ||
| 2024 £ 331,411 |
||
| 2024 £ 446 |
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JOSEPH WILLIAMSON SOCIETY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025
17 Retirement benefit schemes
(Continued)
The Charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Charity in an independently administered fund.
18 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At 1 February 2024 Incoming resources Resources expended At 31 £ £ £ General funds 150,175 27,589 (34,270) Previous year: At 1 February 2023 Incoming resources Resources expended At 31 £ £ £ General funds 164,820 19,153 (33,798) |
January 2025 £ 143,494 January 2024 £ 150,175 |
|---|---|
19 Related party transactions
None of the trustees receive remuneration or other financial benefit from their work with the charity and any contractual relationship with a related party must be disclosed to the full board of trustees. In the current year, no such related party transactions were reported.
The charity’s wholly owned subsidiary, JWS Trading Limited, was established to operate the shop, refreshment, catering and performance facilities at Williamson Tunnels Heritage Centre and donates all of its profits to the charity.
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