2022-06-30-accounts

THE BLYfH WATSON CHARITABLE TRUST TRUSTEES. ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 REGISTERED CHARITY No. 1071390

THE BLYfH WATSON CHARITABLE TRUST TRUSTEES. ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 CONTENTS Page REPORT OF THE TRUSTEES REPORT OF THE INDEPENDENT EXAMINER STATEMENT OF FINANc￿L ACTfviTIES BALANCE SHEET NOTES TO THE FINANCIAL STATEMENTS 8-14

THE BLYTH WATSON CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2022 The charity's trustees are pleased lo presenl their annual Iruslees, report togelher the financial statements ol the charity for the year ended 30 June 2022. Referènce and Administration Details Full name." The Btyth Wa150n Charitable Trust Registered Charity number. 1071390 Principal address.. BDB Pitmans LLP One Barthdomew Close. London. EC1A 7BL Trustees.. Mr Alastair John Cafvert Collett Elizabeth Ann Neale Administrators BDB Pitman5 LLP One Bartholomew Close. L￿dOn, EC1A 7BL Independent Examiner. Price Bailey LLP Tennyson House Cambridge Business Park carn￿dge CB4 OWZ Investment advisers.. Rathtrones Investment Management 8 Finstr￿ry Circus, London. EC2M 7A1 Structur8, GovÈmanc8 and Mana9Èment The trust is governed by clause 7 of the Will of Mrs Hilda Blyth (nee Watson) dated 19 April 1974 who died on 1 Seplember 1997. The trusl was established in accordance wth the terms of Mrs Blyth's Will in April 1998. Funds werè derived from Mrs Blyth's ovm estate and from funds held in her husband's Will Ttusl over which she had a general power of appointment by Will. Mrs 81ylh chose to appoint professional Iruslees under the terms ol the Will, ￿1th Mr E N W Brown being an original appoinlmenl. He rètired in March 2021. The trustees. Alaslaii Collett and Elizabeth Neale are partners al BDB Piltnans LLP. 11 is anlicipaled that the current Iru51ees would be resptsnsible for the inductK)n and training of new Iruslees. New Iru51ees are provided with copies of the charity's documents and meet wth continuing Ituslees, and adminislrators if requesled in order lo gain an Ltnderslanding of the charity. The Board are the key rnanagemenl oflhe charity. Page 1

THE BLYTH WATSON cHAF￿TABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2022 Objectives and Activities The trust was established lo apply the trust furKls and the inc(Yne arising lo or towards such charitable purposes, charitable inslilulh)ns ot charrtable foundatk)ns in such propOrt￿n$ as the Iruslees sh311 in their absolute discret￿n think fit. Taking into account what was known ol the wshes of Mrs Btyth, the Iruslees have decided as a general rule to make grants for the publi¢ benefrt towards humanitarian causes based in the UK, wilhoul excluding the possibility of considering all appeals brought to their nolw. In general temis, the tnjstees consider applic2tions for grants al their m￿lingS which are held Iwi¢e a year usually in June and December. and agree whelher 2 cause meets their criteria and provides a public benefit. Generally the Iruslees support registered charities, making scrne regular grants and some one off. Risk Management The Iruslees have assessed Ihe major risks to wh￿h the charity is exposed. in particular those risks related to the investment strategy. They are satisfied that adequate pr￿edu￿S are in place to mitigate exposure lo these risks. atthough il is recognisecl Ihal systems can only provide reasonable, not absolute, assurance. The Iruslees are well awaie of the impact of the COVID -19 pandemic on the charity's finances and also Ihe wai in Ukraine and the current e¢onomi¢ crÈsis. The reduction in the value of investments in the current year is Sign￿1cant, bul Ihe trust￿S are invested for the long term and continue lo have confKlence in Ralhbones, who manage the portfolio on a discrelionary basis. Despite Ih&se flu¢lualions the Iruslees anlicipale they Can maintain a similar level of grant awards. Fundralsiny The charity's income is generated from the inveslmenls held, tt does not undertake fundraising aclivilies, il is nevertheless mindful of the code issued by Ihe fundraising reguTalor. The charity has not received any complaints during the year bLrt rf it ever did receive a complaint, thi5 would be reviewed immediately by the Iruslees and Irealed wlh the ulmosl seriousness. Achievements Performance and Public Benefit At the half-yearly meetings, the Iwslees reviewtsd the grant application5 r￿1Ved and previous donations made. The Iruslees de¢ided to continue lo promde funds on an annual basis lo various charities (further details in note 81. 11 was agreed al their meetings to usually make individual grants no giealef than £7.000. The Iruslees noted the level of appeals received, which in most cases fell within their criteria, bLJI continued lo feel that their pattem ol grant making would prowde the besl level of benefit rather than spreading the funds loo thinly. They maintained 8 policy of being open to having causes which would benefit the public. recommended to them as worthy of support and refer lo the Charty Commission's general guidan￿ on public benefit when rewewing the trust's aims and objectNes when deciding on the grants lo be made. The Iruslee5 plan lo continue lo m*1 on a bi-annual basis to reiqew the a¢hievemenls and performance of the charity as well as lo ag￿ on dislribulions to be made lo UK based regislered charities with a guideline of £50,000 10 £55,000 meeting. The Iruslee5 are also considering several one off larger granls of arround £15.0(X) e￿h to ulilise their surplus income They are l(>oking al surtable projects lo take this forward and have agreed lo support building works al New College Oxford wlh a large grant. Page 2

THE BLYTH WATSON CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2022 Financial Review Investment Poll¢y and Perforrnance The trustees have inslrucied Ralhbones Investment Management to advise on their inveslmenls. They have an Investment Policy Slalemenl in place. Their pK)licy is lo maintain a balance between capital and income wrth a high level of risk. as defined by the managers_ The trustees had sel a target for a minimum income of £140,OCM) per annum I30￿) from the portfolio. The inveslmeTrl managei has infomied the Iruslees that their income may be affected by the economic crisis. The Iruslees will continue lo review this and adwce from the manager throughout the year. The investment manager provided a detailed report and attended one meeting. The manager also prowdes quartedy reports for review. The trustees cepled the overall perfomiance of the portfolio arKI professional ￿vi￿ provKJed. gThien the current market condrf(K)ns, and continue to review the portFolio al their iegular meetings. Reserve$ Pollcy The Iruslees have expressed the wsh to maintain their endovrnenl, dislribuling the income arising. They agreed lo make distributions of £50,000 10 £55.￿0 pei m&ling and are prepared lo use the Expendable Endowrnenl Fund for this pulpose. Any surplus will be retained on the Unreslricled Fund rather than as a specrfi¢ reserve. Given the funds in hand, they shoukl be in a position lo rneel any commitments rather than relwng on a spectfic reserve, particulady as it is not their policy lo commit lo projects. The Iruslees consider the level of reserves shown in the accounts yvilh a view lo making additional distributions in future years_ In the year the net income after expenditure was £45,47812021'. £1161 for the Unreslricled Fund. The Unrestricted Fund balance of £258,340 on 30 June 2022 12021.. £212,862) will be available for distribLrtion which the Iruslees can consider in future years. The Endowment Fund had borrowed a lolal of £150.587 from the Unresricled Fund at 30 June 202212021.. £139.7491 Finan¢lal A¢tivities The trust received income OF £159,65612021.. £126,604). Al the year end the trust funds were t￿Id in investments and Cash. Toial expenditure was £143,82612021.' £155.9261. Fundraising costs and administralive costs had been kept under revw. Fundraising costs and part of the ￿lMInIstrat￿)n cosls are charged lo the expendab endownenl". £29,648 {2021.. £29,438). The Iruslees noted the real￿ed and unlea11s￿ gains and losses on theii investments.. net losses of £446,381 in 2021122 12021". nel gains of £814,471}, reflecting the overall stock market srtualion. They d￿lded to continue their wlicy of using a guideline of £50,000 10 £55,000 per meelillg for grants. accepting there may be ctcasions when slightly more was distributed and also are mindful ol the impact on income as a resutt of the current economic crisis. Provision has been made for the administralion fees paid to BDB Pitmans LLP who carry out the administration ol the fund and the fees of the independent examiner. Going Concem The trustees have reviewed the financial position. level of reserves and future objec15 01 the charity and have concluded that il is reasonable to expecl that Ihe trust has adequate resouices to continue in operational existence for the foreseeable future_ For this reason they continue lo adopt the going concern basis in the preparation of the financial stalements. Page 3

THE BLYfH WATSON CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2022 The trustee5 have assessed the trusfs requirements for the foreseeable future, including the trust's contingency plans if the inveslrnent income is signifiGanlly reduced, and are confident that sufficient funds will be available to enable operations to continue al a sustainable level for a period of al least 12 months from the dale of approval of these financial siatements. The Trust therefore coniinues to adopt the going concern basis in preparing ils financial slalemenls. As such, the finanGial statements have been prepared on a going concem basis as the truslees believe that no material uncertainties exist. STATEMENT OF TRUSTEE RESPONSIBILITIES The trustees are responsible for preparing the Trustees, Report and the financial statemen15 in accordance wth applicable law and United lfjngdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable lo thanbes in England & Wales requires Ihe tnjstees lo prepare finanryal statements for each financial year vthich give a true and fair view of the state of affairs of the charrty and of the incoming resources and applicAti(>n ol resources of the charrty fof that period. In preparing these finan¢ial ststements, the trustees are required lo.. Select suitable acc¥)unling ￿lIcIeS and then apply them u)ftsislently' Observe the methods and principles in the Charities SORP 2019 IFRS1021'. Make judgements and estimates thal are reasonable and prudent.. Slate whether applicable accounting slandaids have been followed, subject to any malerial departures disdosed and explained in the financial siatements.. and Piepare the financial statements on the going txJn¢em basis unless it is inappropriale tc> presume that the challty will continue in business. The Iruslees are responsible for keeping proper accounting records Ihal disclose wlh reasonable accuracy al any lime the financial position of the eharily and enable them lo ensure thal the financial stalemenis comply th the Charities Act 2011. the Charily (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible foi safeguarding the assets of the charity and hence for tsking reasonable steps for the prevention and detectior) of fraud and olher irregulaiities. The Iwslees wnfirm that they have complied wth the duly in Section 17 of the Charities Act 201110 have due regard to the public benefit guidance published by the Charity Commission in deletmining the activities undertaken by the Gharity. Alastair John Calvert Collett Truste& Date P3&e 4

THE BLYTH WATSON CHARITABLE TRUST

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BLYTH WATSON CHARITABLE TRUST FOR THE YEAR ENDED 30 JUNE 2022

I report to the charity trustees on my examination of the accounts of the charity for the year ended 30 June 2022 which are set out on pages 6 to 14.

Responsibilities and basis of report

As the charity’s trustees 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 charity’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.

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 charity 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.

Martin Clapson FCA

For and on behalf of

Price Bailey LLP

Tennyson House Cambridge Business Park Cambridge CB4 0WZ

Date

Page 5

THE BLYTH WATSON CHAR￿ABLE TRUST STATEMENT OF FINANc￿L AcTIV￿lEs (INCLUDING INCOMEAND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 30 JUNE 2022 UNRESTRICTED EXPENDABLE FUND ENDOWMENT TOTAL 2022 TOTAL 2021 Noies Incomé and Endowments from Inveslments 159.656 159.656 126,604 Totsl Incomo 159.656 159,656 126,604 EXPENDITURE ON Raising Funds 22.180 22.180 20,040 haritable Activities 114.178 121,646 135.886 Total Expenditure 114,178 29,648 143.826 155.926 NET INCOMEIIEXPENDITVREI 45.478 129.6481 15.830 (29,3221 Net galns I Ilossesl on investments 1446,3811 1448.3811 814.471 Net Movement in Fun¢ts 45.478 1476.0291 1430,5511 7￿,149 Reconciliat5on of Funds Fund Balances brought fotvrartj 212.862 5.435.509 5.648.371 4,863,222 TOTAL FUNDS CARRIEO FORWARD AT 30 JUNE 2022 258.340 £ 4,959.480 £ 5,217,820 £ 5.648.371 PaBe6

THE BLYTH WATSON CHARITABLE TRUST BALANCE SHEET AS AT 30 JUNE 2022 Notes 2022 2021 Fixed Assets Inveslmenls 5.110,662 5,576,376 Current Assets Cash 157,868 140,321 Less: Creditors Amounts falling due within one year 50,710 68.326 Net Current Assets 107,158 71,995 Totsl Nèt Assets 5.217.820 £ 5,648,371 Represented by: ExpwdaNe Endowmenl Unrestrided Fund 4,959.480 258.340 5.435.509 212.862 Total Funds 5.217.820 £ 5,648,371 The notes on pages 8 to 14 form parl of the financial statements -.X.. 2££F...￿Id Wgned on thwr t￿half by Approved by the Iruslees on..............- ..- Alastair John Calvert Collelt- Trustee Charity registration No. lo713￿) Page 7

THE BL￿H WATSON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 Accounting Policies The prinapal accounting policies adopted, jud￿ments and key souros of estimatKJn Un￿rtaInty in the preparath)n of the financial staletnents are as folk)ws'. (al Basis of accounting The financial statements have been Wep8￿ in wilh Ac£cxJntiro and Reporting by Charities. Statement of Recotnmended Prad1￿ aP￿iCable lo tharilies preparing the¥ aCc￿ntS in accordance with the Finanaal Reporting Standard appliCa￿e in the UK arKJ Republic ol Ireland issued in October 2019, the Finanaal Reporting Standard applicatAe in the UK and Republ￿ of Iidand IFRS 1021. the Charrties Act 2011 and UK Generalty A￿pted A(xx)unting Practi￿. The finanaal slalements have been p￿pared lo give 3 'true arKI faiff view and have departed from the Charitle5 (Accounts atKI Reports) Re9ulalKbns 2(XJ8 lo It￿ extent required to give a 'true and lairf view. This departure has involved following the Accounting ar¥J ReKKKtsng by Charib"es". Stalemenl of Re(x)mrnerKled Pradice appli￿ble to tha151Es preparin9 their acLounls in accordan￿ with the Finanaal Rewrting Standard applKable in the UK and Republic ol Ireland issued in Odober 2019 rather than the Accounting and Reporiing by Charities". Stalernent of Recornmended Pract￿e effective from 1 April 2005 which has since been withdrawn. Ibl Income and Expenditure All investrnent Ir￿The is accounted for when the charity is enlilsed to recwve the income. Dividends are rec(Yunised when the shareholderfs righl to re￿1ve payment is estsbtished. All other inwme is rewgnised once the charity has entitlement to income. it is piobaNe thal in(we will be received and the amount of income receivable can measured rella￿y. Expendituce and Ikibilities are accounted for on an 8(Lruals basis. AII expenditure is slThn as Charitable (i.e. support (X)s1s - asso(xat￿l with grantmaking}, with Ihe ex￿ptIOn ol Raising Funds (Investment managemenl lees). Icl Funds Unrestricted Funds Ix>tnwise those funds whith Ihe ItU51ees are free to use in a￿ordan￿ with the tharitable objects. The Endowmenl Fund represents those assels whth a￿ held for the charity. PrinGipally inveslmenls. Inu)me arisirvJ on the Endcwrnént Fund ¢xn be useil in aC(xydan￿ with the Obl￿tS of the d)arily and is induded in the unrestr￿ted Inc(￿ne. Any capital gains or k)sses aAstng on the investrnenls forrr part of this fund. Inve5tThenl rt)anagernent chatge5 are chaiged against this fvnd. Legal fees are charged against bolh funds. The Endowmenl Fund is an expendable fund lunreslr￿ed), il needed rt (xn be used for grants payable on the UnreStr￿ed Fund. Idl Investments Investments represenl UK quoted securities a￿1 ar8 staled at tnarkel value at the balance sheet date. Realised gains and losses are taken lo Ihe Stalement of Finanual Athvib"es on distK)sal of investrnenls 8nd unrealised 9ains and k)$5es ale taken to the Statement of Financial Aciivilies on revaluatTm ol Ihe assets each year. lel Grantmaking Giants payable are payments made lo Ihiid parbes in the furthwanct ol the tharitable objecls ol Ihe Irust. Grants are accounted lor wkn either the rec4pienl has a reasonable expedalion thal Ihey will re￿1Ve a grant and the trustees have agreed lo pay the granl without condition. or the recipienl has a ieasonable expectalK)n that they wll ietsive a grant and any condrtion attathing lo the gianl is outside the control of the Iiusl. PaEe 8

THE BLYfH WATSON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30JUNE 2022 1. Accountin9 POlic￿S- Continued lfj Remuneration BD8 Pitmans and Ralhbones InVestft￿t Managerrnl a￿ paKI ￿1rn￿L%1erin9 the trust. The trustees re¢ewed no PerS￿al remuneration or rw[T￿v￿efit ofexpenses during the pEr¥xl under revew. in their taparity as trvslees. Igl Golng Concem The trustees have cortshlerèl the charivs finatstsal posilion the Ikety impaci of the ongoing war in Ukrait 8nnd the current econ(Knic crists on finanaal matkels and ifs future invÈslnnl in(x)me. The trustees are of tk opinion that the charity ha5 adeqvaie reSoUr￿S to continue in operatDnal e￿$tence for the foresee8￿e future and there ale are no material uncertainties atxxrt Ihe tharitls a￿lIty lo COnt￿Ue as a going cOn￿M The truste￿ have assessed tF* trusts requirerrEnls for the foreseeabk future. induding the trust's ¢ontingency P￿DS if the invesknent income ￿ 5yJftrficanUy reduced. ard are ￿n[1dent that sufficient funds will be availablè to enable Lyerations lo continue 81 a sustainable level for a peri￿ of at kast 12 ffl￿th5 frotn the date of approval of thÈse finanual ststements. The trust lherefO￿ conb.nues to adept ts going concern basE in preparing Its financial statements. As such. the finanoal Stslem&nts have been prepared OD a goiThJ concern basi% as the Trustees believe Ihat no rnalerial un￿rtaInl￿$ e￿$t. The finanoal Statements do [￿t inclLKle Ihe aljuslm2nts Ihat woutrj result rf Ue trust was unable to wntinue as a g¢yrvJ Con￿￿. Ihl Cash or ¢ash èquivalents Cash and cAsh eqUNa￿0￿ indLKJes cash and short tertn hyhly IKlU￿ investmenis with short tetrn tnaiurty of three rnonths or less from Ihe dale of acoui%ition ¢y opening of Ihe dew5ti Otswnibr ac£ount lil Creditors and provistons Creditors and provisions are recogntsed where the tharity has a present otAoation resulti￿ from 8 past event that 11 pro￿b￿ resutt In the transler of funds to a third party and th8 afflount due to sellle the oblig2tion can be nEasured or estimated r81iabty. credito￿ and provisK>ns are nortnally re￿nised al their selUemenl amount after allowing for any trade discoun15 due The Irustees do not consi(Ser there to be any signffit8nl esb"m8les or judgements. til Finantlal instruments The charity only has finanoal assets and financial liabilrties of a knnd that qualfy as bas￿ financol Instruments. Basic finantsal In$lrumÈnls, ind￿ling trade Other debtofs at¥J cr￿jitOrS arÈ initially recognised al transaelion valué and Subsequ￿1￿ measvred at their Sett￿ment ¥a￿e. The portlolp) of iTrve5trnents held by the charity is cluded at fair value. 2. Investment Income 2022 2021 Income from inve$knents 159.656 126.604 159,656 £ 126,604 Page 9

THE BLYTH WATSON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 3. Raising Funds 2022 2021 Rathbones Investment management fees 22.180 20,040 All expènditure on raising funds in the current aThJ pr•)r year are paid from the Expendable Endowment Fund. 4. Charitsble Activities 2022 2021 Grants madelcommrtted in ear- all to institutions 36 Grants madel ¢ommitted in the year (2021. 44 granisl further details in note 8 104,01)0 114.750 Su rt Costs Independent examiners fees 2021r22 Bank charges BDB PitrnarB LLP- fees (shared equally be￿n fur￿$) 2,700 10 14,936 2.340 18.796 17.646 21.136 Total Charitable Activities 21.64 Expenditure on charitable adivities indudes £114.17812021 - £126,488) spent from unrestri¢ted funds and £7,46812021- £9,398) spent Irom expendable endcwmenl fvnds. 5. Invastments Additions at C05t Realised and Unrealised gainsl Ilossesl 2021 Disposals 2022 Quoted se¢urits"e5 5,576,376 359.330 {378,6631 1446,3811 5,110,662 Historic cost as al 30 June 2022 is £3,189,63612021 [3.(￿7.038} Realised losses UNealised losses 126,3341 1420.0471 P38e 10

THE BLYTH WATSON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30JUNE 2022 2022 2021 6. Cash Melrobank BDB Piimans LLP Ralhbone Investment Management 79.334 14 78,520 63,427 76,894 £ 157,868 140,321 7. Creditors 2022 2021 Accruals Grants payable 3,710 47,000 4,576 63,750 50.710 Movement In recognisad grant commitments during the year 2022 2021 Granl Commitments recognised at the start of the year 63,750 Grant commitments charged lo the SOFA {nole 4 & 8} 104,000 Granls paid duiing the year ladiusting for returned grants) 1120,7501 3,000 114.750 154.000) Amount ol grant commitments rewgn1s￿j ' 30 June 2022 £ 47,000 63,750 Page 11

THE BLYTH WATSON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 8. Grants committed 2022 2021 Action for A-T Alzheimerfs Society Anti Slavery Barts Christma5 ApKtal Ballen Disease Family Ass(tiali Behind Every Ki Cancer Research - RequEm to Can￿r Chailey Heritage Foundation Children's Radio FoundalK>n Chroni¢ Disease Cystic Fibrosis Trust Dyslonia Sixiety Footsteps Foundling museum Haringey Law Cenlre Help Musi¢ians Imperial Health FoundalK)n Jigsaw Plus Jubilee Sailing Trust- unpaKJ Lrtlle Village London Mozart Players Merton Music Foundation National Deaf Children's Society Revilalise Royal Academy of Musi¢ Royal ￿bert Hall Trusl Royal Trinity Hospice Society for the Relief of Distress South West London Law Centre Sponsor a Sibling Sport in Mind Sl Bartholemew the Great Chuich Sl John's Hospice Streets of London Swaffham Bulbeck PTA The Old V The Connection al Sl Martins The Foijndling Museum The Passage The Q Trust The Sherriffs and Recorderfs Fund The Society for the Relief of Distress The Stroke Ass￿latiOn The Tru5sell Trust Tommy's Water Smart Foundation Young Minds 2,000 2.000 4,(X)O 1,(X)O 1,CKJO 2,QX)O 1,mD 1,000 2,0(KJ 2,000 1,(X)D 1,(KlO 1,(X)O 2,WO 1.000 3,0￿) 2.000 1.WO 5,(KJO 8,￿0 7,000 6,000 4,000 1,000 11.0001 1,000 2,000 4.000 2,000 1,000 4,000 2,000 10,000 10.000 10.000 1,000 1.000 2.000 9.750 5.000 1.000 4.000 5,000 2,000 10.000 5,000 6.000 1,000 10.000 5,000 2,000 5,000 3,000 1.000 2,000 6,000 5.000 2,0(X) 3,000 2,000 5,000 2,000 1,000 2,(K)O 3.OLX) Total 104,000 114,750 Page 12

THE BLYTH WATSON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 9. Analysis of assèts betwegn funds Unrestri¢tsd Endowmènt Fund Fund Total 2022 Totsl 2021 Investments Current Assets Creditors Inter fund borro￿1ng 5,110.662 5,110.662 157,868 {50.7101 5,576,376 140,321 (68.3261 157,868 {50.1151 150.587 {5951 {150,587} Total Net Assets 258,340 £ 4,959,480 £ 5,217,820 £ 5,648,371 Prior year comparativo: Unrestrictèd Endowment Fund Fund Total Totsl 2020 2021 Investments Current Assets Creditors Inter fund borrowing 5,576,376 5,576,376 140,321 (68,3261 4,791.230 83,452 {11.460} 140.321 167.2081 139,749 11,118} 1139.749) Total Net Ass&ts 212.862 £ 5,435,509 £ 5,648,371 £ 4,863,222 10. Information regarding Trustees remunèration and related party transactions The charity has no employees12021- ￿)ne). No Iwstee received remuneialion and no expenses were reimbursed during the year current or prior year. The truslees of the charity are partners at BDB Pilmans LLP administer the ¢harity, in 2021 Nicholas Brown retired as Iruslee. He remains a consultant of BDB Prtmans LLP. Fees of £14,936 were payable lo BDB Pilmans by the charty in the period ended 30 June 2022 12021.. £18.7961. At the year end amounts owed lo BDB Pilmans tolalled £1.190 (2021.. £2.236} these were included wlhin the accruals. There were no other retated paty Iransacbons {2021'. none). Page 13

THE BLYfH WATSON CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES {INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 JUNE 2021 showing the split between Funds Unrestricted Fund Expendable Endowment Fund Total Funds 2021 Income and Endowments from: Investrnenls 126,604 126,604 Total Income 126.604 126,604 Expenditure on- Raising funds 20.040 20,040 Charitable acliwlies.. 126.488 9.398 135,886 Total expenditure 126,488 29.438 155,926 Net income I (expenditure) 116 {29,4381 129.3221 Nel {lossesl I gains on Investmenls 814.471 814.471 Net movement in funds 116 785.033 785,149 Reconciliation of funds- Balan￿S brought forward from prevK>US year 212,746 4.650,476 4.863,222 Balances carried forward at year end 212,862 5.435,509 5,648,371 Page 14