REGISTERED CHARITY NUMBER: 1067916
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
FOR
THE WILLIAM HEATHER WILL TRUST
Lewis Brownlee (Chichester) Limited Grange House Grange Road Midhurst West Sussex GU29 9LS
THE WILLIAM HEATHER WILL TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 4 |
| Independent Examiner's Report | 5 | ||
| Statement of Financial Activities | 6 | ||
| Balance Sheet | 7 | ||
| Notes to the Financial Statements | 8 | to | 13 |
| Detailed Statement of Financial Activities | 14 |
THE WILLIAM HEATHER WILL TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
The Trustees present their report with the financial statements of the charity for the year ended 31 December 2021. The Trustees have adopted the provisions of 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).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The Trust's objectives have been, by means of financial grants, to relieve sickness, with each application being considered individually, in the following geographical areas:-
The Ecclesiastical Parish of St. Margaret, Fernhurst, West Sussex;
The Ecclesiastical Parish of St. Paul, Camelsdale with Lynchmere, West Sussex, both parishes being served by the Haslemere Health Centre, Surrey.
Hayling Island, Hampshire.
Midhurst and Easebourne, West Sussex - as agreed with the Charity Commission in 2018.
The Trustees agreed in December 2021 to apply to the Charity Commission to widen the geographical area around Midhurst and Easebourne, because of an anticipated increase in applications, and following applications from several primary schools in the 'Rother Valley' for funding to help support pupils with mental health problems, partly related to the Covid pandemic.
Significant activities
The William Heather Will Trust (WHWT) is governed for the purpose of assisting residents of these areas who are in need and/or are vulnerable through physical or mental ill health, disability etc. This is by providing funds towards treatment or equipment likely to assist suffering and/or to assist in the recovery of such persons locally, where income or capital sums are not readily available from other sources.
The Trustees have, through the pandemic, continued to attempt to raise the profile of the Trust and to encourage applications, usually through GPs and other health professionals-aiming to utilise as much of each year's income as possible for the benefit of the community in general.
Communication has already been established with several local schools to help pupils with mental health difficulties and, as mentioned above, plans have been made to inform several other schools of the Trust's existence.
Public benefit
Whilst considering what activities the Trust should undertake, the Trustees continue to pay due regard to guidelines issued by the Charity Commission.
Page 1
THE WILLIAM HEATHER WILL TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
ACHIEVEMENT AND PERFORMANCE
Charitable activities
We have continued to provided financial assistance to the Family Support Worker at both Fernhurst and Camelsdale Primary Schools. She continues to play an important role in helping pupils and their families at these schools who are struggling with mental health and wellbeing difficulties.
Funding was also agreed for two other pupils at Fernhurst Primary School for play therapy sessions organised by 'Your Space Therapies'.
A Camelsdale School pupil had obtained benefit from a course of 'Equine Therapy' sessions, a report on this was received.
The Trustees continued to support the Nurture Unit at Easebourne Primary School with a grant until the end of the 2021-2022 academic year, and contact will be maintained.
The counsellor at Midhurst Rother College continues to help a large number of students at this local secondary school, partially helped by our financial support.
A further grant was provided for a pupil at Mill Rythe Primary School, Hayling Island to attend a 'Sustainability Centre', as this had helped him to overcome his mental health issues.
Also on Hayling Island, a distressed lady was helped considerably by a course of twelve counselling sessions, having been referred by a Debt Advisory Centre.
FINANCIAL REVIEW
Financial position
The Trustees felt reassured that investments with BNY Mellon, CCLA and Investec have continued to provide satisfactory returns despite world events, and this was confirmed by Mr G. Lilywhite of Investec who attended a Trustees' meeting.
The Trust continues to draw income from the rent of two adjacent properties in Haslemere, Surrey, occupied by Stricklands dental practice. 25% of this rental income continues to be paid, as always, to the Fernhurst Vicar and Churchwardens Benevolent Fund 1988. Insurance of the property, rent collection and distribution continues to be managed by Flude Commercial.
Should any donations be received under Gift Aid or Deeds of Covenant, recoverable income tax would be recognised at the time of donation.
Reserves policy
It is the policy of the Trust that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to 18 months expenditure. This level of reserves has been maintained throughout the year.
FUTURE PLANS
As already mentioned, we expect further requests for grants 'for the relief of sickness', but do find it necessary to remind local health care professionals of the Trust's existence.
At the end of the year we were hopeful that the Charity Commission would agree to widening of the Trust's geographical limits, as this would considerably help with providing grants when there may be increased demand for funding through our 'sister' Fund, the Sir Geoffrey Todd Trust. This is particularly likely in the field of mental health in schoolchildren.
Acknowledgements
Mr Walter Mitchell attended the June 2021 Trustees' meeting as a 'visitor', having served as a Trustee for very many years and retired early in 2021. He was thanked by the Chairman for his unstinting work for the Trust, especially having taken the Minutes during this time with great efficiency.
Special thanks are due to our secretary Mrs Jenny Moncreiff for continuing to field all applications, also very efficiently, likewise Mrs Rosemary Richardson for now being the Minutes taker, and for all Trustees for their continued enthusiasm and interest during another challenging year.
Page 2
THE WILLIAM HEATHER WILL TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
The Trust was established on 3rd February 1998 and the governing document is the Charity Commission scheme dated 17th November, 1997.
Recruitment and appointment of new trustees
New trustees are appointed with the full agreement of the board to use their skills and experience as directed. New trustees are directed to the Charity Commission web site and specifically to the introductory guide "Charity Trustee: what's involved" (CC3a) and the detailed guidance "The essential Trustee: what you need to know, what you need to do" (CC3).
Organisational structure
The Trustees usually meet at regular intervals through each year, but the continuing restrictions caused by the pandemic meant that this was not possible during the first half of the year. As in the previous year, communication by email and telephone between all Trustees continued satisfactorily.
GDPR and policy statements
The Trustees continue to ensure that all aspects of the Trust's activities and records comply with the General Data Protection Regulations 2018. It was agreed that all applicants seeking financial support should be advised that a copy of the Privacy Policy would be available on request.
No change was felt to be necessary in the Trust's Policy Statements with regard to Investments, Critical Risk and Conflicts of Interest.
Risk management
The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Having assessed the major risks to which the Trust may be exposed, they are satisfied that systems are in place to mitigate exposure to such risks.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1067916
Principal address
c/o J Moncreiff Crossways House Vann Road Haslemere Surrey GU27 3PH
Trustees
W Mitchell (resigned 1/1/2021) Mrs J Moncreiff Dr J Hopkirk M Broughton G Evans Dr H Horne Mrs S Evans Mrs R Richardson
Page 3
THE WILLIAM HEATHER WILL TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
REFERENCE AND ADMINISTRATIVE DETAILS
Independent Examiner
Sarah Alexander FCCA FCA Lewis Brownlee (Chichester) Limited Grange House Grange Road Midhurst West Sussex GU29 9LS
Bankers
Barclays Bank PLC North Street Midhurst West Sussex GU29 9DL
Investment Advisers
Investec Wealth & Investment Ltd 30 Gresham Street London EC2V 7QN
Delegated management
Mrs J Moncreiff
Approved by order of the board of trustees on 25 October 2022 and signed on its behalf by:
Dr H Horne - Trustee
Page 4
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE WILLIAM HEATHER WILL TRUST
Independent examiner's report to the trustees of The William Heather Will Trust
I report to the charity trustees on my examination of the accounts of The William Heather Will Trust (the Trust) for the year ended 31 December 2021.
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 Act and in carrying out my examination I have followed all 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:
-
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
-
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.
Sarah Alexander FCCA FCA Lewis Brownlee (Chichester) Limited Grange House Grange Road Midhurst West Sussex GU29 9LS
28 October 2022
Page 5
THE WILLIAM HEATHER WILL TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021
| 2021 | 2020 | ||
|---|---|---|---|
| Unrestricted | |||
| funds | Total funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Investment income | 2 | 51,189 | 50,372 |
| EXPENDITURE ON | |||
| Raising funds | 3 | 3,538 | 2,086 |
| Charitable activities | |||
| Grants payable | 17,135 | 27,195 | |
| Other | 2,571 | 1,500 | |
| Total | 23,244 | 30,781 | |
| Net gains/(losses) on investments | 3,501 | (2,670) | |
| NET INCOME | 31,446 | 16,921 | |
| Other recognised gains/(losses) | |||
| Gains on revaluation of fixed assets | 88,571 | 3,913 | |
| Net movement in funds | 120,017 | 20,834 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 1,228,428 | 1,207,594 | |
| TOTAL FUNDS CARRIED FORWARD | 1,348,445 | 1,228,428 |
The notes form part of these financial statements
Page 6
THE WILLIAM HEATHER WILL TRUST
BALANCE SHEET 31 DECEMBER 2021
| 2021 | 2020 | ||
|---|---|---|---|
| Unrestricted | |||
| funds | Total funds | ||
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Investments | |||
| Investments | 6 | 839,569 | 661,614 |
| Investment property | 7 | 450,000 | 450,000 |
| 1,289,569 | 1,111,614 | ||
| CURRENT ASSETS | |||
| Debtors | 8 | 7,296 | 7,387 |
| Cash at bank | 51,580 | 109,427 | |
| 58,876 | 116,814 | ||
| NET CURRENT ASSETS | 58,876 | 116,814 | |
| TOTAL ASSETS LESS CURRENT | LIABILITIES | 1,348,445 | 1,228,428 |
| NET ASSETS | 1,348,445 | 1,228,428 | |
| FUNDS | 9 | ||
| Unrestricted funds: | |||
| General fund | 1,001,195 | 881,178 | |
| Revaluation reserve | 347,250 | 347,250 | |
| 1,348,445 | 1,228,428 | ||
| TOTAL FUNDS | 1,348,445 | 1,228,428 |
The financial statements were approved by the Board of Trustees and authorised for issue on 25 October 2022 and were signed on its behalf by:
H Horne - Trustee
J Moncreiff - Trustee
The notes form part of these financial statements
Page 7
THE WILLIAM HEATHER WILL TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.
Going concern
At the time of approving the accounts, the Trustees have a reasonable expectation that the Trust 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.
Incoming resources
All income and endowments are accounted for without deduction for any costs of receivability, are recognised when there is evidence of entitlement, receipt is probable, and the amount can be measured reliably. Voluntary Income
Donations are recognised when received. Income tax recoverable on Gift Aid donations is recognised when the income is recognised. Grants and legacies are recognised when the formal offer in writing of the funding is received.
Income from Charitable Activities
Income is recognised when the money is received. Income from Investments Dividends are accounted for when due and payable. Interest entitlements are accounted for as they accrue. Tax recoverable on such income is recognised in the same accounting year.
All other income
All other income is recognised in the period to which it relates. Income received in advance is deferred to the period to which it relates. Gains and losses on investments
Realised gains are recognised when the investments are sold. Unrealised gains and losses are accounted for on revaluation on 31 December.
Resources used
Resources expended are accounted for on an accruals basis and are accounted for gross.
The management and activities of the charity are carried out by volunteers. This income and cost is not included in the financial statements as this voluntary contribution to the work of the charity is incalculable.
Grants
Grants and donations are accounted for when paid over, or when awarded where the award creates a binding obligation on the charity.
Investment property
Investment properties held for investment are included in the balance sheet at their fair value, the changes in which are recognised in the Statement of Financial Activities. Any revaluation surplus from the property is included as a revaluation reserve within the General Fund.
Investments
Investments are stated at market value at the balance sheet date and the Statement of Financial Activities shows investment gains and losses arising from revaluation of the investment portfolio and disposals during the period.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
continued...
Page 8
THE WILLIAM HEATHER WILL TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
1. ACCOUNTING POLICIES - continued
Fund accounting
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Financial instruments
Financial instruments are classified by the trustees as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. The charity has no advanced financial instruments.
2. INVESTMENT INCOME
3.
| INVESTMENT INCOME | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Rents received | 30,331 | 30,000 |
| Income from listed investments | 20,858 | 20,372 |
| 51,189 | 50,372 | |
| RAISING FUNDS | ||
| Investment management costs | ||
| 2021 | 2020 | |
| £ | £ | |
| Portfolio management | 1,888 | 1,636 |
| Property management | 1,650 | 450 |
| 3,538 | 2,086 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| funds | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Investment income | 50,372 |
| EXPENDITURE ON | |
| Raising funds | 2,086 |
| Charitable activities | |
| Grants payable | 27,195 |
| Other | 1,500 |
| Total | 30,781 |
continued...
Page 9
THE WILLIAM HEATHER WILL TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| Unrestricted | ||
|---|---|---|
| funds | ||
| £ | ||
| Net gains/(losses) on investments | (2,670) | |
| NET INCOME | 16,921 | |
| Other recognised gains/(losses) | ||
| Gains on revaluation of fixed assets | 3,913 | |
| Net movement in funds | 20,834 | |
| RECONCILIATION OF FUNDS | ||
| Total funds brought forward | 1,207,594 | |
| TOTAL FUNDS CARRIED FORWARD | 1,228,428 | |
| 6. | FIXED ASSET INVESTMENTS | |
| Listed | ||
| investments | ||
| £ | ||
| MARKET VALUE | ||
| At 1 January 2021 | 661,614 | |
| Additions | 120,362 | |
| Disposals | (30,978) | |
| Revaluations | 88,571 | |
| At 31 December 2021 | 839,569 | |
| NET BOOK VALUE | ||
| At 31 December 2021 | 839,569 | |
| At 31 December 2020 | 661,614 | |
| There were no investment assets outside the UK. | ||
| Cost or valuation at 31 December 2021 is represented by: | ||
| Listed | ||
| investments | ||
| £ | ||
| Valuation in 2021 | 839,569 |
continued...
Page 10
THE WILLIAM HEATHER WILL TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
7. INVESTMENT PROPERTY
| FAIR VALUE At 1 January 2021 and 31 December 2021 NET BOOK VALUE At 31 December 2021 At 31 December 2020 |
£ 450,000 |
|---|---|
| 450,000 | |
| 450,000 |
WHWT holds a 75% interest in these properties - therefore the £450,000 value stated in the accounts is 75% of the overall valuation of £600,000. This valuation is based on the £600,000 offer made for the property in recent years (2019) which was provisionally accepted in principal.
Any revaluation surplus from the property is included as a revaluation reserve within the General Fund. At this time the revaluation reserve amounts to £347,250.
8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
9.
| Other debtors MOVEMENT IN FUNDS Unrestricted funds General fund Revaluation reserve TOTAL FUNDS |
At 1/1/21 £ 881,178 347,250 1,228,428 1,228,428 |
2021 £ 7,296 Net movement in funds £ 120,017 - 120,017 120,017 |
2020 £ 7,387 At 31/12/21 £ 1,001,195 347,250 |
2020 £ 7,387 |
|---|---|---|---|---|
| 1,348,445 | ||||
| 1,348,445 |
Net movement in funds, included in the above are as follows:
| Incoming | Resources | Gains and | Movement | |
|---|---|---|---|---|
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 51,189 | (23,244) | 92,072 | 120,017 |
| TOTAL FUNDS | 51,189 | (23,244) | 92,072 | 120,017 |
continued...
Page 11
THE WILLIAM HEATHER WILL TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
9. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | ||||
|---|---|---|---|---|
| movement | At | |||
| At 1/1/20 | in funds | 31/12/20 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 860,344 | 20,834 | 881,178 | |
| Revaluation reserve | 347,250 | - | 347,250 | |
| 1,207,594 | 20,834 | 1,228,428 | ||
| TOTAL FUNDS | 1,207,594 | 20,834 | 1,228,428 |
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Gains and | Movement | |
|---|---|---|---|---|
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 50,372 | (30,781) | 1,243 | 20,834 |
| TOTAL FUNDS | 50,372 | (30,781) | 1,243 | 20,834 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Revaluation reserve TOTAL FUNDS |
Net movement At 1/1/20 in funds £ £ 860,344 140,851 347,250 - 1,207,594 140,851 1,207,594 140,851 |
At 31/12/21 £ 1,001,195 347,250 |
|---|---|---|
| 1,348,445 | ||
| 1,348,445 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Gains and | Movement | |
|---|---|---|---|---|
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 101,561 | (54,025) | 93,315 | 140,851 |
| TOTAL FUNDS | 101,561 | (54,025) | 93,315 | 140,851 |
continued...
Page 12
THE WILLIAM HEATHER WILL TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2021 nor for the year ended 31 December 2020.
Page 13
THE WILLIAM HEATHER WILL TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021
| 2021 £ INCOME AND ENDOWMENTS Investment income Rents received 30,331 Income from listed investments 20,858 51,189 Total incoming resources 51,189 EXPENDITURE Investment management costs Portfolio management 1,888 Property management 1,650 3,538 Charitable activities Grants to institutions 4,220 Grants to individuals 12,915 17,135 Support costs Governance costs Insurance 1,011 Accountancy 1,560 2,571 Total resources expended 23,244 Net income before gains and losses 27,945 Realised recognised gains and losses Realised gains/(losses) on fixed asset investments 3,501 Net income 31,446 |
2020 £ 30,000 20,372 50,372 50,372 1,636 450 2,086 15,000 12,195 27,195 - 1,500 1,500 30,781 19,591 (2,670) 16,921 |
|---|---|
This page does not form part of the statutory financial statements
Page 14