THE TONY AND SHEELAGH WILLIAMS CHARITABLE FOUNDATION
REPORT AND ACCOUNTS
YEAR ENDED 5 APRIL 2021
Charity number: 1065474
THE TONY AND SHEELAGH WILLIAMS CHARITABLE FOUNDATION
I N D E X
Year ended 5 April 2021
| Page | |
|---|---|
| General information | 2 |
| Report of the trustees | 3 |
| Report of the independent examiner | 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes to the financial statements | 9 |
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THE TONY AND SHEELAGH WILLIAMS CHARITABLE FOUNDATION
G E N E R A L I N F O R M A T I O N
Year ended 5 April 2021
| Date of Settlement Charity number Trustees Settlors Charity address Objects Accumulation Investment managers Bankers Solicitors Independent examiner |
27 June 1997 1065474 Madeleine Graham Harding Philip Graham Williams Sean Mountford Graham Williams Anthony Graham Williams Sheelagh Williams 22 Chancery Lane London WC2A 1LS tandswilliams.org The trustees hold the fund and income therefrom on trust for charitable purposes and to make donations to such charitable institutions as they in their absolute discretion think fit. During the period of 21 years from the date of the Trust Deed, the trustees have power to accumulate the whole or any part of the income of the Trust Fund. This period ceased on 27 June 2018. Stonehage Fleming 15 Suffolk Street London SW1Y 4HG National Westminster Bank P O Box 712 94 Moorgate London EC2M 6UR Wedlake Bell 71 Queen Victoria Street London EC4V 4AY S Rose ACA Dixon Wilson 22 Chancery Lane London WC2A 1LS |
|---|---|
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THE TONY AND SHEELAGH WILLIAMS CHARITABLE FOUNDATION
R E P O R T O F T H E T R U S T E E S
Year ended 5 April 2021
The trustees submit their report and accounts for the year ended 5 April 2021. The accounts comply with current statutory requirements, with the charity's Trust Deed, the Charities Act 2011, Accounting and Reporting by Charities: Statement of Recommended Practice (SORP 2019) and in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The report should be read in conjunction with the general information provided on page 2.
Constitution
The charity is constituted by a Trust Deed dated 27 June 1997.
Structure, governance and management
The Trust is an unincorporated charity, governed under a Trust Deed dated 27 June 1997 and is a registered charity, number 1065474.
Responsibilities for the appointment of a new or additional trustee, or the discharge of an outgoing trustee, vests with the trustees. Responsibility for the induction of any new trustee, which involves awareness of the history and approach of the charity and an understanding of a trustee’s duties, lies with the trustees. A new trustee would receive copies of the previous year’s accounts.
The trustees meet periodically to consider awards and donations they will make and to monitor asset management, investments, reserves and risk management policies. The investment policy of the charity is implemented by independent investment managers shown on page 2.
The charity has no voluntary, seconded or paid staff.
Objectives, activities and achievements for the public benefit
In 2019 the Trustees decided to close the website to funding applications and adopt a more strategic approach to grant-giving in order to maximise its impact.
The three main features of the new approach were: first, to focus on one theme so that the Trustees gain a deeper understanding of the issues and potential solutions. The theme this year and for the foreseeable future was to support work which strengthens families and aims to prevent children being taken into care. People that have come through the care system are much more likely to be homeless, victims of violence, caught up in the criminal justice system and to suffer from addiction. They were disproportionately represented in all the charities this foundation has supported in the past.
The second feature was to focus resources in one geographical area so that the Trustees can understand the specific challenges which exist and get to know some of the organisations already operating there. The Trustees decided to focus on Aylesbury in Buckinghamshire because it has pockets of very high deprivation and neglect in spite of the relative affluence of the county as a whole.
The third feature of the new approach was that it should be truly collaborative and long-term. The issues that the trustees are seeking to address are complex and deep rooted and no single organisation will be able to solve them quickly or on their own.
Establishing the foundations for this approach has been the priority this year: building relationships with people working with families in Aylesbury, speaking to parents with lived experience of the care system, meeting with local schools and council representatives.
After much deliberation the Trustees decided in early 2021 to partner with a community hub in Aylesbury, the Healthy Living Centre (HLC), for the purposes of this work. The HLC is based in the heart of one of the most deprived wards, has strong connections to many local organisations and the Trustees are excited to be working in partnership with them. It is envisaged that work will begin at the end of 2021.
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THE TONY AND SHEELAGH WILLIAMS CHARITABLE FOUNDATION
R E P O R T O F T H E T R U S T E E S
Year ended 5 April 2021
The Trustees were not able to invest in this initiative during the year so they decided to fund organisations that were supporting vulnerable groups through the COVID pandemic, and grants totalling £70,000 were made to charities already known to the foundation. An opportunity arose to support a UK based environmental start-up charity working to protect forests in East Africa and a £10,000 grant was made to them, bringing the total donations for the year to £80,000 (2020 - £220,000) a decrease of 63.6% on 2020. The Trustees expect expenditure to grow significantly over the next few years as the new initiative develops.
The trustees, having regard to the public benefit guidance by the Charity Commission in accordance with section 17 of the Charities Act 2011, consider that the purpose and the activities of the charity satisfy the requirements of the public benefit test set out in section 4 of the same Act.
Financial review and investment policy
The trustees consider the current financial position to be satisfactory. There is sufficient cash and income from investments to provide support for their chosen charitable causes. The trustees have an investment portfolio, which they review regularly throughout the year, held under a discretionary asset management agreement with Stonehage Fleming. The trustees have selected a medium risk profile with a balance between capital growth and income. The trust had net assets of £10,734,351 as of 5 April 2021 (2020 - £8,284,430). There were net outgoing resources for the year before net gains on investments of £4,633 (2020 – net outgoing resources of £108,725).
Reserves policy
The charity carries out no direct charitable activities, makes no financial commitments from year to year and the donations that are made vary according to the income generated. As such, no reserves are required to ensure the trust’s continued operations.
Risk management
The principal risks faced by the charity lie in the level of investment return and the performance of the investment markets and risks from ineffective grant making. The trustees keep under review the professional management of the assets. They restrict donations to registered charities.
Plans for future periods
The trustees intend to continue their present policies for investment management and maintain charitable donations over the long term so that the real value of the fund is not diminished. The accumulation period ended on 27 June 2018 and therefore net incoming resources from this date will be used to meet future charitable expenditure. The trustees are considering ethical investment strategies.
Trustees’ responsibilities in relation to the financial statements
The trustees are responsible for preparing the trustees’ report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards. The law applicable to charities in England and Wales 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 of the charity for that period. 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 of the Charities SORP;
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make judgements and accounting estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any departures disclosed and explained in the financial statements; 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 business.
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THE TONY AND SHEELAGH WILLIAMS CHARITABLE FOUNDATION
R E P O R T O F T H E T R U S T E E S
Year ended 5 April 2021
The trustees are responsible for keeping accounting records, which disclose with reasonable accuracy the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations and the provisions of the Trust Deed. 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.
The report of the trustees was approved by the trustees on 2021 and signed on their behalf by: 13 December
M G HARDING Trustee
S M G WILLIAMS Trustee
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THE TONY AND SHEELAGH WILLIAMS CHARITABLE FOUNDATION
R E P O R T O F T H E I N D E P E N D E N T E X A M I N E R
Year ended 5 April 2021
Independent examiner’s report to the trustees of the Tony and Sheelagh Williams Charitable Foundation
I report to the trustees on my examination of the accounts of the trust for the year ended 5 April 2021, which are set out on pages 7 to 14.
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’). 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 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. Dixon Wilson, a firm of Chartered Accountants, of which I am a partner, has provided bookkeeping services to the trust and I have applied the FRC’s Revised Ethical Standard in carrying out my examination.
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:
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accounting records were not kept in respect of the trust as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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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; or
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the accounts 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 accounts 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 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.
Suzanne Rose ACA Dixon Wilson 22 Chancery Lane London WC2A 1LS
2021 13 December
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THE TONY AND SHEELAGH WILLIAMS CHARITABLE FOUNDATION
S T A T E M E N T O F F I N A N C I A L A C T I V I T I E S
Year ended 5 April 2021
| 2021 | 2021 | 2021 | 2020 | 2020 | 2020 | ||
|---|---|---|---|---|---|---|---|
| Madeleine’s | Unrestricted | Total | Madeleine’s | Unrestricted | Total | ||
| Note | Fund | Fund | Funds | Fund | Fund | Funds | |
| £ | £ | £ | £ | £ | £ | ||
| Income and endowments from: | |||||||
| Investments: | |||||||
| Dividends and interest from listed investments | - | 85,625 | 85,625 | - | 122,855 | 122,855 | |
| Interest on cash deposits | - | 3 | 3 | - | 25 | 25 | |
| Total income and endowments | - | 85,628 | 85,628 | - | 122,880 | 122,880 | |
| Expenditure on: | |||||||
| Raising funds: | |||||||
| Investment management costs | 4 | (1,061) | (4,199) | (5,260) | (1,112) | (4,311) | (5,423) |
| Charitable activities: | |||||||
| Accountancy and independent examination | 4 | - | (5,296) | (5,296) | - | (4,987) | (4,987) |
| Currency gain/(loss) and bank charges | 4 | 17 | 278 | 295 | (59) | (1,136) | (1,195) |
| Charitable donations to registered charities | 5 | - | (80,000) | (80,000) | - | (220,000) | (220,000) |
| Total expenditure | (1,044) | (89,217) | (90,261) | (1,171) | (230,434) | (231,605) | |
| Net gains / (losses) on investments | 2, 3, 6 | 156,082 | 2,298,472 | 2,454,554 | (70,688) | (1,028,929) | (1,099,617) |
| Net movement in funds | 155,038 | 2,294,883 | 2,449,921 | (71,859) | (1,136,483) | (1,208,342) | |
| Reconciliation of funds: | |||||||
| Total funds brought forward at 6 April 2020 | 504,451 | 7,779,979 | 8,284,430 | 576,310 | 8,916,462 | 9,492,772 | |
| Total funds carried forward at 5 April 2021 | 659,489 | 10,074,862 | 10,734,351 | 504,451 | 7,779,979 | 8,284,430 |
All amounts are in respect of continuing activities.
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THE TONY AND SHEELAGH WILLIAMS CHARITABLE FOUNDATION
B A L A N C E S H E E T
At 5 April 2021
| 2021 | 2021 | 2021 | 2020 | ||
|---|---|---|---|---|---|
| Madeleine’s | Unrestricted | Total | Total | ||
| Note | Fund | Fund | Funds | Funds | |
| (as restated) | |||||
| £ | £ | £ | £ | ||
| Fixed assets | |||||
| Investments at market value | 2, 3 | 644,754 | 9,869,636 | 10,514,390 | 7,806,731 |
| Current assets | |||||
| Debtors | 7 | - | 5,295 | 5,295 | 12,768 |
| Cash at bank and investment managers | 20,030 | 204,833 | 224,863 | 522,492 | |
| 20,030 | 210,128 | 230,158 | 535,260 | ||
| Creditors: amounts falling due | |||||
| within one year | 8 | (5,295) | (4,902) | (10,197) | (57,561) |
| Net current assets | 14,735 | 205,226 | 219,961 | 477,699 | |
| Total assets less current liabilities | 659,489 | 10,074,862 | 10,734,351 | 8,284,430 | |
| Represented by: | |||||
| Unrestricted Funds | - | 10,074,862 | 10,053,672 | 7,779,979 | |
| Madeleine’s Fund | 659,489 | - | 659,489 | 504,451 | |
| Total | 659,489 | 10,074,862 | 10,734,351 | 8,284,430 |
The financial statements on pages 7 to 14 were approved by the trustees on 2021 and signed on 13 December their behalf by:
M G HARDING Trustee
S M G WILLIAMS Trustee
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THE TONY AND SHEELAGH WILLIAMS CHARITABLE FOUNDATION
N O T E S T O T H E F I N A N C I A L S T A T E M E N T S
Year ended 5 April 2021
1. Accounting policies
(a) Basis of preparation
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (SORP 2019) and in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The trust constitutes a public benefit entity as defined by FRS 102.
The trustees consider that there are no material uncertainties about the trust’s ability to continue as a going concern. There are no significant areas of adjustment and key assumptions that affect items in the accounts. With respect to the next reporting period, the most significant areas of uncertainty that affect the carrying value of assets held by the trust are the level of investment return and the performance of investment markets (see the risk management section of the trustees’ annual report for more information).
(b) Funds structure
The unrestricted fund comprises those funds that the trustees are free to use for any purpose in furtherance of the charitable objects. Unrestricted funds include designated funds where the trustees, at their discretion, have created a fund for a specific purpose.
The charity has an expendable endowment fund (Madeleine’s Fund) created by a gift. The capital of this fund must be invested to produce income, however, the terms of the endowment allow the capital of the fund to be spent if the trustees so determine. The income of this fund is unrestricted and may be spent at the trustees’ discretion.
(c) Income recognition
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Donations are recognised when the trust has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. Dividends are recognised once the dividend has been declared and the notification has been received of the dividend due. This is normally upon notification by our investment advisor of the dividend yield of the investment portfolio.
(d) Expenditure recognition
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings.
Grants payable are payments made to third parties in the furtherance of the charitable objects of the trust. In the case of an unconditional grant offer, this is accrued once the recipient has been notified of the grant award. The notification gives the recipient a reasonable expectation that they will receive the grant.
(e) Irrecoverable VAT
Irrecoverable VAT is charged against the expenditure heading for which it was incurred.
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THE TONY AND SHEELAGH WILLIAMS CHARITABLE FOUNDATION
N O T E S T O T H E F I N A N C I A L S T A T E M E N T S
Year ended 5 April 2021
(f) Support and governance costs
The Charity does not incur support costs. Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. Governance costs relate to charitable activities.
(g) Costs of raising funds
The costs of generating funds consist of investment management costs.
(h) Charitable activities
Costs of charitable activities include grants made and governance costs as shown in notes 4 and 5.
(i) Fixed asset investments
Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.
The trust does not acquire put options, derivatives or other complex financial instruments.
The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk and changes in sentiment concerning equities and within particular sectors or sub sectors.
(j) Realised gains and losses
All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.
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THE TONY AND SHEELAGH WILLIAMS CHARITABLE FOUNDATION
N O T E S T O T H E F I N A N C I A L S T A T E M E N T S
Year ended 5 April 2021
2. Stonehage Fleming Portfolio – No. 1 Unrestricted Fund
| Cost £ Venture Funds 26,523 Equities – Unquoted 1,190,083 Equities – Quoted 3,733,966 Alternative Strategies 563,325 Bonds – Government 527,009 Bonds – Non-Government 363,593 6,404,499 |
2020 Additions Market value Cost £ £ 58,513 - 1,358,739 65,225 4,498,655 1,159,494 600,794 325,619 477,314 109,224 336,088 155,059 7,330,103 1,814,621 |
Disposals Net gains/(losses) on revaluation Proceeds and disposals £ £ 21,999 13,845 49,502 168,284 1,128,860 2,111,215 168,684 (70,575) 118,922 (21,018) 85,593 96,721 1,573,560 2,298,472 |
2021 | |
|---|---|---|---|---|
| Cost £ 18,468 1,211,672 4,094,432 684,163 468,012 482,053 6,958,800 |
Market value £ 50,359 1,542,746 6,640,504 687,154 446,598 502,275 |
|||
| 9,869,636 |
3. Stonehage Fleming Portfolio – No. 2 Madeleine’s Fund
| Cost £ Equities – Unquoted 68,519 Equities – Quoted 247,289 Alternative Strategies 40,411 Bonds – Government 34,573 Bonds – Non-Government 23,807 414,599 |
2020 Additions Market value Cost £ £ 78,749 4,261 295,216 - 49,285 10,831 31,364 14 22,014 - 476,628 15,106 |
Disposals Net gains/(losses) on revaluation Proceeds and disposals £ £ 3,062 10,229 - 137,757 - 3,265 - 1,652 - 3,179 3,062 156,082 |
2021 | |
|---|---|---|---|---|
| Cost £ 69,742 247,289 51,242 34,587 23,807 426,667 |
Market value £ 89,839 432,973 63,420 33,030 25,492 |
|||
| 644,754 |
| 4. Expenditure other than charitable donations Investment management costs Accountancy fees Accountancy fees – Independent Examination Currency (gain)/loss Bank charges Total expenditure other than charitable donations |
2021 £ 5,260 5,260 3,016 2,280 5,296 (298) 3 (295) 10,261 |
2020 £ 5,423 5,423 2,623 2,364 4,987 1,133 62 1,195 11,605 |
|---|---|---|
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THE TONY AND SHEELAGH WILLIAMS CHARITABLE FOUNDATION
N O T E S T O T H E F I N A N C I A L S T A T E M E N T S
Year ended 5 April 2021
| 5. Charitable donations to registered charities Beyond Food Foundation Child's i Foundation Nicodemus Raw Workshop Start Up Now Transitions UK The Little Environmental Action Foundation |
£ 10,000 10,000 10,000 10,000 10,000 20,000 10,000 80,000 |
|---|---|
| 6. Fixed asset investments Total securities 2021 £ Valuation at 6 April 2020 / 6 April 2019 7,806,731 Additions at cost 1,829,727 Disposal proceeds (1,576,622) Net gain / (loss) on revaluation and disposals 2,454,554 Market value at 5 April 2021 / 5 April 2020 10,514,390 Historical cost 7,385,467 Investments at fair value consist of: UK securities 7,034,103 Overseas securities 3,480,287 10,514,390 |
Total securities 2020 £ 9,198,701 1,401,203 (1,693,556) (1,099,617) 7,806,731 6,819,098 4,796,256 3,010,475 7,806,731 |
|---|---|
All investments are carried at fair value. The basis of fair value for quoted investments is equivalent to the market value. Asset sales and purchases are recognised at the date of trade at cost.
The charity relies in part on dividend income to finance its work and therefore volatility in yields is a risk to the charity. Liquidity risk is considered to be low as all assets are traded in markets with good liquidity.
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THE TONY AND SHEELAGH WILLIAMS CHARITABLE FOUNDATION
N O T E S T O T H E F I N A N C I A L S T A T E M E N T S
Year ended 5 April 2021
| 7. Debtors 2021 2021 Madeleine’s Unrestricted 2021 2020 Fund Fund Total Funds Total Funds £ £ £ £ Interfund – representing unaccumulated income - 5,295 5,295 12,768 - 5,295 5,295 12,768 |
7. Debtors 2021 2021 Madeleine’s Unrestricted 2021 2020 Fund Fund Total Funds Total Funds £ £ £ £ Interfund – representing unaccumulated income - 5,295 5,295 12,768 - 5,295 5,295 12,768 |
7. Debtors 2021 2021 Madeleine’s Unrestricted 2021 2020 Fund Fund Total Funds Total Funds £ £ £ £ Interfund – representing unaccumulated income - 5,295 5,295 12,768 - 5,295 5,295 12,768 |
7. Debtors 2021 2021 Madeleine’s Unrestricted 2021 2020 Fund Fund Total Funds Total Funds £ £ £ £ Interfund – representing unaccumulated income - 5,295 5,295 12,768 - 5,295 5,295 12,768 |
7. Debtors 2021 2021 Madeleine’s Unrestricted 2021 2020 Fund Fund Total Funds Total Funds £ £ £ £ Interfund – representing unaccumulated income - 5,295 5,295 12,768 - 5,295 5,295 12,768 |
7. Debtors 2021 2021 Madeleine’s Unrestricted 2021 2020 Fund Fund Total Funds Total Funds £ £ £ £ Interfund – representing unaccumulated income - 5,295 5,295 12,768 - 5,295 5,295 12,768 |
|---|---|---|---|---|---|
| 8. Creditors: amounts falling due 2021 2021 within one year Madeleine’s Unrestricted 2021 2020 Fund Fund Total Funds Total Funds £ £ £ £ Accountancy - 4,902 4,902 4,986 Interfund – representing unaccumulated income 5,295 - 5,295 12,768 Unsettled trades - - - 39,807 5,295 4,902 10,197 57,561 |
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| 9. Analysis of charitable funds Balance Brought Forward £ Madeleine’s fund 504,451 Unrestricted fund 7,779,979 Total 8,284,430 Analysis of charitable funds – previous year Balance Brought Forward £ Madeleine’s fund 576,310 Unrestricted fund 8,916,462 Total 9,492,772 |
Income Expenditure £ £ - (1,044) 85,625 (89,213) 85,625 (90,257) Income Expenditure £ £ - (1,171) 122,880 (230,434) 122,880 (231,605) |
Gains Balance and Carried losses forward £ £ 156,082 659,489 2,298,472 10,074,863 2,454,554 10,734,352 Gains Balance and Carried losses forward £ £ (70,688) 504,451 (1,028,929) 7,779,979 (1,099,617) 8,284,430 |
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| Balance Carried forward £ 504,451 7,779,979 |
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| 8,284,430 |
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THE TONY AND SHEELAGH WILLIAMS CHARITABLE FOUNDATION
N O T E S T O T H E F I N A N C I A L S T A T E M E N T S
Year ended 5 April 2021
10. Related party disclosures
The trustees received no emoluments or reimbursement of expenses for their services to the charity in the current or previous year.
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