2025-04-05-accounts

Charity number: 1105582

THE HON E W C WELD FORESTER WILL TRUST

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

THE HON E W C WELD FORESTER WILL TRUST

CONTENTS

	Page
Reference and administrative details of the Charity, its Trustees and advisers	1
Trustees' report	2 - 4
Independent examiner's report	5
Statement of financial activities	6
Balance sheet	7
Notes to the financial statements	8 - 14

THE HON E W C WELD FORESTER WILL TRUST

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 5 APRIL 2025

Trustees	Mr C J S Whitaker
	Mrs H C Dyer
	Mr G E Holdsworth Hunt
	The Hon Mrs A E Connell, Chair
Charity registered number 1105582 Principal office Padmore House Hall Court Hall Park Way Telford TF3 4LX Accountants WR Partners Chartered Accountants Belmont House Shrewsbury Business Park Shrewsbury Shropshire SY2 6LG Bankers NatWest Plc 121 High Street Oxford OX1 4DD Solicitors MFG Solicitors Padmore House Hall Court Hall Park Way Telford TF3 4LX Stockbrokers E F G Harris Allday 33 Great Charles Street Birmingham B3 3JN

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THE HON E W C WELD FORESTER WILL TRUST

TRUSTEES' REPORT FOR THE YEAR ENDED 5 APRIL 2025

The Trustees present their annual report together with the financial statements of the Charity for the year 6 April 2024 to 5 April 2025.

Objectives and activities

a. Policies and objectives

The Trustees wish to continue to apply the annual income of the trust in accordance with the Will of the Hon E W C Weld Forester dated 5 September 1946.

The objectives of the Will Trust are to apply the annual income for the purpose of providing a home for and otherwise for the benefit of such one or more exclusively of the Hon E W C Weld Forester's brothers, sisters, nephews and nieces and their respective issue and the surviving husband or wife of any such person who shall be poor and needy and in the opinion of the Trustees suitable recipients of charity as the Trustees shall 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)'.

b. Grant-making policies

The charitable funds are distributed in line with the objectives notes above.

c. Main activities undertaken to further the Charity's purposes for the public benefit

The Trustees confirm that they have referred to the revised public benefit guidance contained in the Charity Commission's general guidance when reviewing the trust's aims and objectives and in planning future distributions.

Achievements and performance

a. Review of activities

Throughout the year, the investment portfolio has been managed to provide a stream of income for distribution to beneficiaries.

b. Investment policy and performance

The Trustees have instructed their stockbrokers to operate a long term investment strategy, taking a moderate risk approach, and aiming to achieve a balance between generating income and capital growth.

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.

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THE HON E W C WELD FORESTER WILL TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

b. Reserves policy

The charity's net income less payments gave £1,070 gain (2024: £6,300 gain) and the market value of the investments was £1,285,902 (2024: £1,355,392). It is the Trustee's policy to maintain sufficient reserves to fund the ongoing administration of the trust over the next financial year.

Free reserves at the year end are £63,032 (2024: £51,864), being the unrestricted funds less the designated funds.

c. Conflict of interest management

Where a conflict of interest exists between an applicant and a Trustee, the relevant Trustee abstains from any decision re distributions.

Structure, governance and management

a. Constitution

The Hon E W C Weld Forester Will Trust is a registered charity, number 1105582, and was founded by the Will of the Hon E W C Weld Forester dated 5 September 1946.

The Trustees hold the capital and income of the Trust Fund upon Trust for the objectives declared above.

b. Methods of appointment or election of Trustees

The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.

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.

d. Investment powers

The Trustees have the power to invest in any investments authorised by law for the investment of trust funds.

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THE HON E W C WELD FORESTER WILL TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025

Statement of Trustees' responsibilities

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 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 judgments 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 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.

Approved by order of the members of the board of Trustees and signed on their behalf by:

................................................ The Hon Mrs A E Connell Trustee

Date:

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THE HON E W C WELD FORESTER WILL TRUST

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 5 APRIL 2025

Independent Examiner's Report to the Trustees of The Hon E W C Weld Forester Will Trust ('the Charity')

I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 5 April 2025.

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.

Independent Examiner's Statement

Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

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.

This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.

Signed: Dated: 29/01/2026 Tim Lunt BA FCCA MTPI WR Partners Chartered Accountants Belmont House Shrewsbury Business Park Shrewsbury Shropshire SY2 6LG

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THE HON E W C WELD FORESTER WILL TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2025

Note Income from: Investments 2 Total income Expenditure on: Raising funds 3 Charitable activities Total expenditure Net income before net (losses)/gains on investments Net (losses)/gains on investments Net (expenditure)/income Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward	Unrestricted funds 2025 £ 49,654 49,654 10,098 38,486 48,584 1,070 (59,271) (58,201) (58,201) 1,402,395 (58,201) 1,344,194	Total funds 2025 £ 49,654 49,654 10,098 38,486 48,584 1,070 (59,271) (58,201) (58,201) 1,402,395 (58,201) 1,344,194	Total funds 2024 £ 51,424 51,424
			9,599 35,525 45,124
			6,300 28,419
			34,719 34,719
			1,367,676 34,719 1,402,395

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 8 to 14 form part of these financial statements.

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THE HON E W C WELD FORESTER WILL TRUST

BALANCE SHEET AS AT 5 APRIL 2025

			2025	2025	2024
	Note		£		£
Fixed assets
Investments	8		1,285,902		1,355,392
			1,285,902		1,355,392
Current assets
Cash at bank and in hand		90,386		77,423
		90,386		77,423
Current liabilities
Creditors: amounts falling due within one
year	9	(32,094)		(30,420)
Net current assets			58,292		47,003
Total assets less current liabilities			1,344,194		1,402,395
Total net assets			1,344,194		1,402,395
Charity funds
Unrestricted funds	10		1,344,194		1,402,395
Total funds			1,344,194		1,402,395

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

................................................

The Hon Mrs A E Connell Trustee

Date:

The notes on pages 8 to 14 form part of these financial statements.

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THE HON E W C WELD FORESTER WILL TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

1. Accounting policies

1.1 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.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The Hon E W C Weld Forester Will Trust 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.

1.2 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.

1.3 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

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.

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THE HON E W C WELD FORESTER WILL TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

1. Accounting policies (continued)

1.4 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.

1.5 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.

1.6 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.

1.7 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

1.8 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.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

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THE HON E W C WELD FORESTER WILL TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

2. Investment income

Unrestricted funds 2025 £ Income from stocks and shares 49,654 Total 2025 49,654 Total 2024 51,424 3. Investment management costs Unrestricted funds 2025 £ Investment management fees 10,098 Total 2025 10,098 Total 2024 9,599 4. Analysis of grants Grants to Individuals 2025 £ Distributions to individuals 31,569 Total 2025 31,569 Total 2024 27,630	Total funds 2025 £ 49,654 49,654 51,424 Total funds 2025 £ 10,098 10,098 9,599 Total funds 2025 £ 31,569 31,569 27,630	Total funds 2024 £ 51,424 51,424
		Total funds 2024 £ 9,599 9,599
		Total funds 2024 £ 27,630 27,630

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THE HON E W C WELD FORESTER WILL TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

5. Analysis of expenditure by activities

Charitable expenditure Total 2025 Total 2024 Analysis of support costs	Grant funding of activities 2025 £ 31,569 31,569 27,630	Support costs 2025 £ 6,917 6,917 7,895	Total funds 2025 £ 38,486 38,486 35,525	Total funds 2024 £ 35,525 35,525

Sundry expenses Insurance Governance costs Total 2024	Activities 2025 £ - 553 6,364 6,917 7,895	Total funds 2025 £ - 553 6,364 6,917 7,895	Total funds 2024 £ 190 493 7,212 7,895

1. Independent examiner's remuneration

The independent examiner's remuneration amounts to an independent examiner fee of £1,047 (2024 - £960), and accounts preparation of £1,047 (2024 - £960).

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THE HON E W C WELD FORESTER WILL TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

7. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2024 - £NIL).

During the year ended 5 April 2025, no Trustee expenses have been incurred (2024 - £165).

8. Fixed asset investments

Cost or valuation At 6 April 2024 Additions Disposals Revaluations At 5 April 2025 Net book value At 5 April 2025 At 5 April 2024	Listed investments £ 1,355,392 186,372 (196,591) (59,271)
	1,285,902
	1,285,902
	1,355,392

The investments are all listed investments, and are held in the UK.

9. Creditors: Amounts falling due within one year

Trade Creditors Accruals	2025 £ 30,000 2,094 32,094	2024 £ 28,500 1,920 30,420

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THE HON E W C WELD FORESTER WILL TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

10. Statement of funds

Statement of funds - current year

Statement of funds - current	year
	Balance at 6			Gains/	Balance at 5
	April 2024	Income	Expenditure	(Losses)	April 2025
	£	£	£	£	£
Unrestricted funds
Designated funds
Designated Funds - all funds	1,350,531	-	(10,098)	(59,271)	1,281,162

The designated fund relates to	the investments held by the	the investments held by the	the investments held by the	charity and incurs the cost	charity and incurs the cost	of holding the	of holding the
investments.
General funds
General Funds - all funds	51,864	49,654		(38,486)	-		63,032
Total Unrestricted funds	1,402,395	49,654		(48,584)	(59,271)		1,344,194
Statement of funds - prior year
	Balance at				Gains/		Balance at
	1 April 2023	Income		Expenditure	(Losses)		5 April 2024
	£	£		£	£		£
Unrestricted funds
Designated funds
Designated Funds - all funds	1,331,575	-		(9,599)	28,555		1,350,531
General funds
General Funds - all funds	36,101	51,288		(35,525)	-		51,864
Total Unrestricted funds	1,367,676	51,288		(45,124)	28,555		1,402,395

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THE HON E W C WELD FORESTER WILL TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025

11. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted funds 2025 £ Fixed asset investments 1,285,902 Current assets 90,386 Creditors due within one year (32,094) Total 1,344,194	Total funds 2025 £ 1,285,902 90,386 (32,094) 1,344,194

Analysis of net assets between funds - prior year

Fixed asset investments Current assets Creditors due within one year Total	Unrestricted funds 2024 £ 1,355,392 77,423 (30,420) 1,402,395	Total funds 2024 £ 1,355,392 77,423 (30,420) 1,402,395

12. Related party transactions

It is within the nature of the charity that the grants are awarded to descendends of the Hon E W C Weld Forester. Any decisions regarding the awarding of of grants is managed through the use of the Trust's Conflicts of Interest policy.

There were two related party transactions in the year ending 5th April 2024.

G E Holdsworth Hunt and H C Dyer Trustees have family members that received grants totaling £6,600 and are creditors at year end. ( 2024: 2 Trustees family members received grants totaling £4,500

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