BETA Having problems on this page? Your ￿f d￿k will help us to improve it. O You will be logged out after 30 minutes of inactivity. Messages (Igrouplguestlnotificationsl Account Ilgrouplguesumy-detailsl Sign out Ilclportalllogoull Charity Commission Annual Return 2024 Print Cancel G R WATERS CHARITABLE TRUST 2000 Charity regislration number.. 1091525 Most of the information you give in this form will become publicly available on the Register of Charities. Any field that the Charity Commission will not display will be clearly marked. This document is a record of the information provided in the Annual Return 2024. PART A - Charity information Financial period Financial period start date 0610412023 Flnanclal perlod end date 0510412024 Income and spending Income £ £ 29,906 Spendin £ 702,896 Number of contracts from government How many contracts lother than grant agre•m•nts) did your eharity recal￿ from central government or a local authority during the financial period for this return? Number of grants from government How many grants did your charity receive from central government or a local authority during the rinancial eriod for thi5 return? Income breakdown Donations and I £ 3,649 a¢ies excludin Endowments Received Charltable actlvllles Other tradin activities Investments £ 26,257 Other Grantmaking Is grant making the main way your charity ¢arries oul its purposes? Yes Recipients of grants Please round all flgures to the nearest pound {do not enter de¢lmal polnts or ¢omma$). Individuals Other charities £ 21,304 Other o anisations that are not charities £ 639,605 Grant recipients related parties Are an of the No rant recr ients related rties to the cha Trustee payments Excluding Out of pocket expenses, for what were any of the trustees paid during the financial perlod for th1$ return7 e. None of the trustees have been paid Did any of the tyustees resign and take up employment wilh your charity in the financial period of th15 return7 No Income from outside the UK Did your charily receive income from outside of the United Kingdom in the financial period of this return7 No Delivering activities outside the United Kingdom Did your charity deliver charitabl• activities outside of the United Kingdom in th• financial period of this return? Yes Select the countries your charity delivered charitaljle activities outside the United Kingdom Chile,Occupied Palestinian Territones Written agreements with partners outside UK Does your charity have formal written agreemenls in place with any partners delivering charitable activities on its behalf outside of the United Kingdom? With some overseas partners Spending outsidè England & Wales Did your charity spend fvnds outside of the United l(ingdom in the financial period of this return? Yes Select countrieslterritories your charity operated in during the financial period covered by this annual return Chile Occupied Palestinian Territories We recommend you select "Save" regularly to avoid losing any values entered. Chile £ 593,400 Occupied Palestinian Territories £ 39,268 Total Spendin £ 632,668 outsid8 En land &Wales Methods of Money transfer How much money dld your charlty send In total outslde ot the Unlted Klngdom uslng a method other than the regulated banking system in the financial period for this return? Trading subsidiaries Does the charity have any trading subsidiaries? Charity contact details Corre Is the contact address displa Yes ed from the Re ister of Charitie* correc1• Charity headquarters details correct Is this the same address that Yes uuseas s admin•strative headquarters? Charity contact address Address Line 1 7 Melbray Mew5 Address Line 2 158 HLJrfingham Road Addros$ Llno 3 London Address Line 4 Address Line 5 Postcode SW6 3NS Country Charity Headquarters address Address Line 1 7 Melbray Mews Addrès$ Line 2 158 Hurlingham Road Address Line 3 London Address Line 4 Address Line 5 Post¢ode SW6 3NS Count Property Were any of your charitys properties held by holding or custodian trustees on behalf of your charity (excluding the Official Cuslodian) during the financial period for this return? No Membershlp type Is your charity part of a wider group structure with a parent body and subsidiary bodies? no, the charity is not part of a bwder group structure Employment contract types People were permanently employed by your charity Peo le were on fixed-tenns contracts with our chari Self*mployed people were working for your charity Governance policies Internal charity financial controls policy and procedure5 Yes Safe uardin Not appli¢able ollc and roeedurè$ Financial reserves policy and procedures Yes Complaints policy and procedures Not applicable Serlous In¢ldent re Yes rtln and ro¢edure$ Internal risk management policy and procedures Yes Trustee expenses poli Yes and procedures Trustee conflicts of interest policy and procedures Yes Investing charty funds policy and procedures Yes Campal ns and polltl¢al a¢tlvl Not applicable oll and rocedure$ Bultying and harassment policy and procedures Not applicable Social media poli Not applicable and procedures extemal s akers at Chari Not applicable events lic and ro¢edures Safeguarding Has your charity provided services to children andlor adults •t risk in the financial period of the return7 No Serious Incidents Has your charlty reported all Serlous Incldents (Includlng any hlstorlcal Incldents) that the charlty became awaro of durin tha financial period of this return? There were no incidents lo re￿rt External risk and impact Donations UnknownlNo ChangelNot Applicable Other income - grants UnknownlNo ChangelNol Applicable Other income - contracts UnknownlNo ChangelNol Applicable Other income - Tnvestment UnknownlNo ChangelNot Appli¢able Expendlture on charltable aetlvltles UnknownlNo Chan9elNot Applicable Expenditure on overheads UnknownlNo ChangelNol Applicable Number of volunteers UnknownlNo ChangelNol Applicable Number of em lo UnknownlNo ChangelNot Applicable Number of trustees UnknownlNo ChangelNot Applicable Fundraising actlvities UnknownlNo ChangelNot Applicable Capaci to deliver services UnknownlNo ChangelNol Applicable Total service demand UnknownlNo ChangelNol Applicable Volunteers Excluding trusteesi provide an estimate of the number of volunleers who carvied out charitable activities on behalf of your Charity in the United Kingdom during the financial period of this return? Privacy statement Any information you give us will be held securely and processed only in accordance with the rule on data protection. We will not disclose your personal details to anyone unconnected to the Charity Commission unless: you have consented to thelr release. or we are legally obliged to disclose them" or we regard disclosure as either (a) necessary so that we can properly carry out our statutory functions or {b) necessary in the public interest. We may share and disclose information about you with relevant public authorities. regulatory bodies and agencies, outside the Charity Commission but only if: we can lawlully do so. and we decide that disclosure is necessary for national security. crime detection, prevention. and law enforcement. or other issues in the public interest Information we collect about you We will use this information: To enable us to carry out our statutory functions and duties" Thls wlll Include the followlng actlons: (a) update, consolidate, and improve the accuracy of our records" (b) undertake crime detection and prevention and law enforcement and assist the third parties specified above to investigate or prevent erime and carry out law enforcement. (c) data analysis, testingi research, statistical and survey purposes Informatlon we recelve from other sources. Information we receive from other sources We may combine this information with information you give to us and information we collect about you. 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Declaration This annual return has not been submitted and no Declaration has been made **Charity registration number: 1091525** ## **G R WATERS CHARITABLE TRUST 2000** **TRUSTEES' REPORT AND FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 5 APRIL 2024** ## **G R WATERS CHARITABLE TRUST 2000** ## **CONTENTS** ||Page| |---|---| |**Reference and Administrative Details of the Charity, its Trustees and Advisers**|1| |**Trustees' Report**|2 - 4| |**Trustees' Responsibilities Statement**|5| |**Independent Examiner's Report**|6| |**Statement of Financial Activities**|7| |**Balance Sheet**|8| |**Notes to the Financial Statements**|9 - 17| ## **G R WATERS CHARITABLE TRUST 2000** ## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 5 APRIL 2024** |**Trustees**|M.A. Fenwick| |---|---| ||C.D. Organ| |**Charity registered**
**number**
1091525
**Registered office**
7 Melbray Mews
158 Hurlingham Road
London
SW6 3NS
**Independent examiner**
MHA
Chartered Accountants
MHA House
Charter Court
Swansea Enterprise Park
Swansea
SA7 9FS
**Bankers**
Coutts & Co
440 Strand
London
WC2R 0QS
**Solicitors**
Russells
Yalding House
152-156 Great Portland Street
London
W1W 5QA
**Investment advisor**
Coutts & Co
440 Strand
London
WC2R 0QS|| Page 1 ## **G R WATERS CHARITABLE TRUST 2000** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 5 APRIL 2024** The Trustees present their annual report together with the financial statements of the Charity for the 6 April 2023 to 5 April 2024. ## **Objectives and activities** ## **a. Purpose and objectives** The G R Waters Charitable Trust 2000 is a grant-making Charity. Under the terms of the Declaration of Trust, the Trustees can apply its funds for or towards such charitable purposes and to make donations to such charitable institution or institutions at such time or times and in such manner as the Trustees may, in their absolute discretion, think fit. In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'. All activities have been undertaken to further the Charity's purpose as per its Declaration of Trust, and further its purposes for the public benefit. ## **b. Main activities undertaken to further the Charity's purposes for the public benefit** The main activities undertaken by the Charity include grant-making and the funding of charitable projects, as selected by the Trustees. Grants are made to those applicants which the Trustees consider appropriate. The Charity's grants made during the year have funded the regular activities of various causes considered as worthy and justified in their actions by the Trustees. These donations have provided assistance with the provision of continuing works surrounding humanitarian, religious, equality, animal and environmental issues. ## **Achievements and performance** ## **a. Main achievements of the Charity** During the year the Trustees resolved to make grants of £660,909 (2023: £15,458), of which £Nil (2023: £Nil) were made to individuals and £660,909 (2023: £15,458) were made to institutions, further details of which can be found in Note 8 of the Financial Statements. The Trustees resolved to fund a project to publicise the plight of Nudem Durak, a Turkish singer of Kurdish folk songs who has been incarcerated in a Turkish jail since 2015. A guitar used by Roger Waters on his ‘The Wall’ tour has been signed by him and numerous fellow musicians. A film made of the journey to collect the signatures is showing on social media. The guitar is currently being held in posession of the Trust until they are able to provide it to Nudem. The cost of the project to date has been recognised within Stock. The Trustees have considered the value of the Stock and have determined that it's value cannot be measured with sufficient reliability, and has therefore been included at cost. The Charity received donations of £3,649 (2023: £30,723) during the year and investment income of £26,257 (2023: £23,025). Page 2 **G R WATERS CHARITABLE TRUST 2000** **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024** ## **Financial review** ## **a. Going concern** After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. ## **b. Reserves policy** The Trustees are of the opinion that the Charity's reserves at 5 April 2024 are sufficient to meet all future commitments, and that their duties have been adequately performed during the year. Taking one year with another, the Trustees intend to spend all income as it arises. The Trustees seek to have sufficient capital from which can be derived spendable funds of an amount which will enable the Trustees in real terms to maintain indefinitely their present level of activities. This policy is reviewed periodically by the Trustees as they see fit. The Charity's unrestricted funds totalled £492,432 as at 5 April 2024 (2023: £1,092,959). ## **c. Financial review** The income of the Charity is derived from investment income and donations received. The Trustees do not carry out any fund-raising. The investment income of the Charity during the year was £26,257 (2023: £23,025). The Trustees were satisfied that this represented a reasonable return on capital. In fixing the amount of funds available for ongoing activities and grant-giving, the policy of the Trustees is to make grants which broadly are commensurate with available income. However, they are from time to time prepared to make grants in excess of the income if there are realised gains or income surpluses from previous years. The grants made during the year totalled £660,909 (2023 £15,458) and support costs were £36,215 (2023: £9,362). Realised losses from disposal of investments were £8,825 (2023: £14,788 gains) and unrealised gains on investments were £72,463 (2023: £10,562 losses). ## **d. Investments policy** Funds are invested in such a manner as the Trustees think fit in order to provide an appropriate and balanced portfolio taking into account the requirements of the law relating to the investment of charitable monies, and the investment policy of the Charity. The Trustees' investment powers stem from the Declaration of Trust. The Trustees' investment policy is to maximise the total return on the investments of the Charity's funds in a manner which involves the minimum of risk of loss to the portfolio. The Trustees employ Investment Managers who work within guidelines laid down by the Trustees. Page 3 ## **G R WATERS CHARITABLE TRUST 2000** **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024** ## **Structure, governance and management** ## **a. Structure and constitution** The G R Waters Charitable Trust 2000 was established under a Declaration of Trust dated 18 December 2000, and is registered with The Charity Commission under registration number 1091525. Over the years, Mr Waters, the donor to the Charity, has assigned a portion of his royalty income to the Charity and intends to continue so doing. Trustees are appointed in accordance with the Declaration of Trust. The Trustees who served throughout the year are shown on page 1. ## **b. Methods of appointment or election of Trustees** Future Trustees must be appointed in writing by Mr Waters who shall not appoint himself or any other person who is a 'related or subordinate party' to Mr Waters. The Trustees recruited must have regard to their respective areas of knowledge, skills and experience. All new Trustees are briefed fully on the affairs of the Charity before accepting appointment and must sign a declaration of willingness to act as a Trustee of the Charity. The new Trustees then receive adequate training, commensurate to their new role, before taking up their position. ## **c. Financial risk management** The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks. Approved by order of the members of the board of Trustees and signed on their behalf by: **----- Start of picture text -----**
................................................ ................................................
M.A. Fenwick C.D. Organ
Trustee Trustee
Date:
**----- End of picture text -----**
Page 4 ## **G R WATERS CHARITABLE TRUST 2000** ## **STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 5 APRIL 2024** The Trustees 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). The law applicable to charities in England & 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 its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles of the Charities SORP (FRS 102); - make judgements and accounting estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Declaration of Trust. 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. Approved by order of the members of the board of Trustees and signed on its behalf by: **----- Start of picture text -----**
................................................ ................................................
M.A. Fenwick C.D. Organ
Trustee Trustee
Date:
**----- End of picture text -----**
Page 5 ## **G R WATERS CHARITABLE TRUST 2000** ## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 5 APRIL 2024** ## **Independent Examiner's Report to the Trustees of G R Waters Charitable Trust 2000 ('the Charity')** I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 5 April 2024. ## **Responsibilities and Basis of Report** As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act'). I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## I **ndependent 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: 1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 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. Signed: Dated: 4th February 2025 Rachel Doyle FCCA ACA DChA MHA, Chartered Accountants, MHA House, Charter Court, Swansea Enterprise Park, Swansea, SA7 9FS Page 6 ## **G R WATERS CHARITABLE TRUST 2000** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2024** |**Note**
**Income from:**
Donations
3
Investments
4
**Total income**
**Expenditure on:**
Investment management costs
5
Charitable activities
6
**Total expenditure**
**Net (income)/expenditure before net (losses)/gains**
**on investments**
Net gains/(losses) on investments
10
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2024**
**£**
**3,649**
**26,257**
**29,906**
**5,724**
**697,172**
**702,896**
**(672,990)**
**72,463**
**(600,527)**
**1,092,959**
**(600,527)**
**492,432**|**Total**
**funds**
**2024**
**£**
**3,649**
**26,257**
**29,906**
**5,724**
**697,172**
**702,896**
**(672,990)**
**72,463**
**(600,527)**
**1,092,959**
**(600,527)**
**492,432**|_Total_
_funds_
_2023_
_£_
_30,723_
_23,025_
_53,748_
_5,613_
_32,820_
_38,433_
_15,315_
_(10,562)_
_4,753_
_1,088,206_
_4,753_
_1,092,959_| |---|---|---|---| The Statement of Financial Activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. In 2023, all income and expenditure was from/ to unrestricted funds. The notes on pages 9 to 17 form part of these financial statements. Page 7 ## **G R WATERS CHARITABLE TRUST 2000** ## **BALANCE SHEET AS AT 5 APRIL 2024** |||**2024**|**2024**|**2024**|_2023_|_2023_| |---|---|---|---|---|---|---| ||**Note**|**£**|**£**||_£_|_£_| |**Fixed assets**||||||| |Investments|10||**792,951**|||_993,440_| ||||**792,951**|||_993,440_| |**Current assets**||||||| |Stocks|11|**124,510**|||_124,510_|| |Debtors|12|**6,157**|||_8,202_|| |Cash at bank and in hand||**115,729**|||_74,780_|| |||**246,396**|||_207,492_|| |Creditors: amounts falling due within one||||||| |year|13|**(546,915)**|||_(107,973)_|| |**Net current liabilities / assets**|||**(300,519)**|||_99,519_| |**Total net assets**|||**492,432**|||_1,092,959_| |**Charity funds**||||||| |Unrestricted funds|14||**492,432**|||_1,092,959_| |**Total funds**|||**492,432**|||_1,092,959_| The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: **----- Start of picture text -----**
................................................
M.A. Fenwick
Trustee
Trustee
Date: :
Date:
LA “Vebuovy Qos
**----- End of picture text -----**
**----- Start of picture text -----**
................................................
C.D. Organ
Trustee
Trustee
**----- End of picture text -----**
The notes on pages 9 to 17 form part of these financial statements. Page 8 ## **G R WATERS CHARITABLE TRUST 2000** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024** ## **1. General information** G R Waters Charitable Trust 2000 is an Unincorporated Charity registered with the Charity Commission (Charity Registered Number 1091525) in England and Wales. The address of the registered office is given in the Charity information on page 1 of these financial statements. The nature of the Charity's operations and principal activities are detailed in the Trustees' Report. ## **2. Accounting policies** ## **2.1 Basis of preparation of financial statements** The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. G R Waters Charitable Trust 2000 meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. The financial statements are prepared in pounds sterling which is both the functional and presentational currency of the Charity and are rounded to the nearest pound. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all periods presented unless otherwise stated. ## **2.2 Going concern** The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the Charity to be able to continue as a going concern. ## **2.3 Income** 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. Investment income is accounted for in the year in which the Charity is entitled to its receipt. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. Page 9 ## **G R WATERS CHARITABLE TRUST 2000** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024** ## **2. Accounting policies (continued)** ## **2.4 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. Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs. Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure. All expenditure is inclusive of irrecoverable VAT. ## **2.5 Interest receivable** 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 institution with whom the funds are deposited. ## **2.6 Foreign currencies** Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the reporting date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange gains and losses are recognised in the Statement of Financial Activities. ## **2.7 Investments** Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of Financial Activities. Page 10 ## **G R WATERS CHARITABLE TRUST 2000** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024** ## **2. Accounting policies (continued)** ## **2.8 Stocks and work in progress** Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. ## **2.9 Debtors** Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ## **2.10 Cash at bank and in hand** Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. ## **2.11 Liabilities and provisions** Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost. ## **2.12 Financial instruments** The Charity holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the Charity and their measurement bases are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost as detailed in Note 12. Cash at bank is classified as a basic financial instrument and is measured at face value. Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost as detailed in Note 13. ## **2.13 Fund accounting** General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Investment income, gains and losses are allocated to the appropriate fund. Page 11 ## **G R WATERS CHARITABLE TRUST 2000** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024** ## **3. Income from donations** |Donations
_Total 2023_|**Unrestricted**
**funds**
**2024**
**£**
3,649
_30,723_|**Total**
**funds**
**2024**
**£**
**3,649**
_30,723_|_Total_
_funds_
_2023_
_£_
_30,723_| |---|---|---|---| ||||| ## **4. Investment income** |**Unrestricted**
**funds**
**2024**
**£**
Dividend income from listed investments
25,585
Bank interest receivable
628
Gain/(loss) on foreign exchange
44
26,257
_Total 2023_
_23,025_|**Total**
**funds**
**2024**
**£**
**25,585**
**628**
**44**
**26,257**
_23,025_|_Total_
_funds_
_2023_
_£_
_22,147_
_878_
_-_
_23,025_| |---|---|---| |||| ## **5. Investment management costs** |Investment management fees
_Total 2023_|**Unrestricted**
**funds**
**2024**
**£**
5,724
_5,613_|**Total**
**funds**
**2024**
**£**
**5,724**
_5,613_|_Total_
_funds_
_2023_
_£_
_5,613_| |---|---|---|---| ||||| Page 12 ## **G R WATERS CHARITABLE TRUST 2000** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024** ## **6. Analysis of expenditure by activities** |Charitable activities
Charitable activities
**Analysis of support costs**
Governance costs
**7.**
**Governance costs**
Independent examiner's costs
Other professional fees|_Activities_
_undertaken_
_directly_
_2023_
_£_
_8,000_|**Grant**
**funding of**
**activities**
**2024**
**£**
660,909
_Grant_
_funding of_
_activities_
_2023_
_£_
_15,458_|**Support**
**costs**
**2024**
**£**
36,263
_Support_
_costs_
_2023_
_£_
_9,362_
**Total**
**funds**
**2024**
**£**
**36,263**
**2024**
**£**
**5,100**
**31,163**
**36,263**|**Total**
**funds**
**2024**
**£**
**697,172**| |---|---|---|---|---| |||||_Total_
_funds_
_2023_
_£_
_32,820_| |||||_Total_
_funds_
_2023_
_£_
_9,362_| |||||_2023_
_£_
_5,100_
_4,262_
_9,362_| Page 13 ## **G R WATERS CHARITABLE TRUST 2000** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024** ## **8. Analysis of grants by type** |Grants made to institutions
**Grants made to institutions**
Tools For Solidarity
Nudem Durak
Unicorn School
AIDA Youth Centre
Victor Jara Foundation
The Amos Trust|**2024**
**£**
**660,909**
**660,909**
**2024**
**£**
**-**
**6,937**
**11,304**
**39,268**
**593,400**
**10,000**
**660,909**|_2023_
_£_
_15,458_
_15,458_| |---|---|---| |||_2023_
_£_
_10,000_
_-_
_5,458_
_-_
_-_
_-_
_15,458_| ## **9. Staff costs, Trustees' remuneration and expenses** The Charity has no employees and the Trustees are considered to be the Key Management Personnel. During the year, no Trustees received any remuneration or other benefits _(2023 - £NIL)_ . During the year ended 5 April 2024, no Trustee expenses have been incurred _(2023 - £NIL)_ . Page 14 ## **G R WATERS CHARITABLE TRUST 2000** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024** ## **10. Fixed asset investments** ||**Listed**| |---|---| ||**investments**| ||**£**| |**Cost or valuation**|| |At 6 April 2023|**993,440**| |Additions|**503,251**| |Disposals|**(785,028)**| |Revaluations|**81,288**| |At 5 April 2024|**792,951**| |**Net book value**|| |At 5 April 2024|**792,951**| |_At 5 April 2023_|_993,440_| |The Historical cost of the fixed asset investments as at 5 April 2024 was £719,033 (2023: £1,009,944).|| |For the year to 5 April 2024, total realised losses on investments came to £8,825. Unrealised gain for the|| |year ended 5 April 2024 were £81,288.|| All investments are held to provide a secure return that can be used to further the Charity's activities. ## **11. Stocks** |Stock
**12.**
**Debtors**
**Due within one year**
Other debtors|**2024**
**£**
**124,510**
**2024**
**£**
**6,157**
**6,157**|_2023_
_£_
_124,510_| |---|---|---| |||_2023_
_£_
_8,202_| |||_8,202_| Page 15 ## **G R WATERS CHARITABLE TRUST 2000** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024** ## **13. Creditors: Amounts falling due within one year** |Trade creditors
Other creditors
Accruals
Grants payable|**2024**
**£**
**6,940**
**101,945**
**6,028**
**432,002**
**546,915**|_2023_
_£_
_-_
_101,945_
_6,028_
_-_| |---|---|---| |||_107,973_| ## **14. Statement of funds** ## **Statement of funds - current year** ||**Balance at 6**|**Balance at 6**|||**Gains/**|**Balance at 5**|**Balance at 5**| |---|---|---|---|---|---|---|---| |||**April 2023**|**Income**|**Expenditure**|**(Losses)**||**April 2024**| |||**£**|**£**|**£**|**£**||**£**| |**Unrestricted funds**|||||||| |General Funds||**1,092,959**|**29,906**|**(702,896)**|**72,463**||**492,432**| ||||||||| |**Statement of funds - prior year**|||||||| |||_Balance at_|||_Gains/_||_Balance at_| |||_1 April 2022_|_Income_|_Expenditure_|_(Losses)_|_5 April 2023_|| |||_£_|_£_|_£_|_£_||_£_| |**Unrestricted funds**|||||||| |General Funds||_1,088,206_|_53,748_|_(38,433)_|_(10,562)_||_1,092,959_| Page 16 ## **G R WATERS CHARITABLE TRUST 2000** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024** ## **15. Analysis of net assets between funds** **Analysis of net assets between funds - current period** |**Unrestricted**
**funds**
**2024**
**£**
Fixed asset investments
792,951
Current assets
246,396
Creditors due within one year
(546,915)
**Total**
492,432
**Analysis of net assets between funds - prior period**
_Unrestricted_
_funds_
_2023_
_£_
Fixed asset investments
_993,440_
Current assets
_207,492_
Creditors due within one year
_(107,973)_
**Total**
_1,092,959_|**Total**
**funds**
**2024**
**£**
**792,951**
**246,396**
**(546,915)**
**492,432**
_Total_
_funds_
_2023_
_£_
_993,440_
_207,492_
_(107,973)_
_1,092,959_| |---|---| ## **16. Related party transactions** G R Waters is a related party by virtue of being the settlor of the Charitable Trust. He has assigned a proportion of his royalties to the Charity and during the year these amounted to £3,649 (2023: £53,348). During the year he made grants on behalf of the Charity of Nil (2023: £Nil) for which he was reimbursed by the Charity. At the year-end, £6,157 was owed to the Charity by G R Waters (2023: £8,202). During the year, Russells Solicitors were paid £11,220 (2023: £1,500) in respect of professional services provided to the Charitable Trust. C D Organ is a Trustee of the Charitable Trust and a senior consultant of Russells Solicitors. Page 17 G R WATERS CHARITABLE TRUST 2000 INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 5 APRIL 2024 Independent Examlnerfs Report to tho Trusto88 of G R Watsr8 Charitable Trust 2000 Ilhe Charlty.) I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 5 April 2024. Responsiblllties and Basis of Report As th8 Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act,). I report in respect of my examination of the Charty's accounts carried out under sectton 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charty Commission under section 145(5)(b) of the 2011 Act. Independ6nt Examlner'8 Statement I have ccmpleted my examination. I confimi that no 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 Charity as requlred by section 130 of the 2011 Act: or the accounts do not accord with those recor(fs" or the accounts do not comply with:.the 8ppbcable rRquirements concerning the form and. content of accounts set ￿t in the Charities {AccountLand.Reports) Regulations 2008 other than any requirement that the accounts gfve 8 'true and fair, view which is not a matter Considered as part of an independent examination. I have no concems and have come across no other matters in connection with the examination to which attention should be drawn in this report in ortten¢raTable a proper understanding of the accounts to be reached. Signed". Dated:4th February 2025 Rachel Doyle FCCA ACA DChA MHA. Chartered Accountants, MHA House. Charter Court. Swansea Enterprise Park, Swansea, SA7 9FS Page 6