R•glster¢d Charlty No: 1115263
WILLIAM WALTON AND LA MORTELLA TRUST
Report and Financlal Stat?ments
For Ihe year •nd•d 31 December 2021
tc
accounts . tax . legal , financial planning

WILLIAM WALTON AND LA MORTELLA TRUST
Contents
Reports
Legal and adminislralive inf0m7at￿n
ReFQrt of the trustees
Independent audilorfs report
&9
Accounts
Slalement of financial aclivrties
10
Statement of financial position
Notes to the accounts
12-17

WILLIAM WALTON AND LA MORTELLA TRUST
Legal and adminlstrative Inforniation
Patro
HRH The Prince ofwales. KG
Trustees
John F da Luz Camacho
Alessandra Vincigueva
Caroline Hthvard
Registered Office
89 Judd Street
London
WC1H 9NE
Charity Registration Number 1115263
Auditors
TC Group
76 New Cavendish Street
Londo
W1G 9T8
Bankers
Charities Aid Foundabon Bank Limited
25 Kings Hill Avenve
Kings Hill
West Malling
Kent
ME194JQ

WILLIAM WALTON AND LA MORTELLA TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 December 2021
The Iruslees present their repcxt ltyether with the fi-nancial statements of William Walton and
La Mortella Trust for the year ended 31 December 2021.
The financi81 slalements have been prepared in accordan￿ wlh the a¢counling poli¢i8s sel
oul in note 110 the accounts and eompty with the charity's trust deed. the Charities Act 2011
8nd"Accounling and Reporting by Charities.. Statement of Reccmmended PraCt￿e applicable
lo charities prepariThJ their accounts in accordance with the Financial RetK)rb"ng Standard
applicable in the UK and Republ￿ of Ireland IFRS102}" leffective 1 January 20191.
Structure. gov•man¢e and man•gement
The Trust is govemed by a Trust deed dated 26 June 20(6 and is a registered charity, number
1115263. The Trust was established by an initial gift from Lady Warton folk)wing Ihe death of
her hLFsband, Sir N'lliam Wahon in 1983. Lady Walion (lied on M3rch 21, 2010. The Trust
does not activety fundraise and seeks to continue its through careful stewardship of
e￿stIng resources.
The Trustees are aFFointed by the Board arKI serve for three years after which perh)d they
may put themselves forward for rL4appoinlment The Trust Deed does not state a Irnil to the
number of Trustees.
At the six monthty trustees. meetings the trustees agr￿ the broad strategy and areas of
actThiity for the Trus[ including con5KJeralion of grant making. investment, reserves and risk
management policies and performance. The day ￿ day administration r)f grants and the
prccessing 8nd handling of 8pplic81ions prior lo consideration by the Trust￿ is delegated to
the Administrator.
Newly appointed trustees undergo an orientalion session to brief them of their legal cblNJations
under charity law, the Content of the Trust Deed, and the decisK)n making processes, the role
of IheAdminislr81or and recenlfinancial perf¢j￿anCe. Prior lo taking up the post trustees meet
the key pers￿$ associated with the running of the TrusL
Risk management
The Trustees have8ssessed the major risks to which the chanty is exposed, in pa￿C￿larth9$8
relating to the specthc oFeralional areas of the charty and ts finances. The Trustees L*lieve
that by monitoring reserve levels, by ensuring controls exist over key financial systems, and
by exarnining the operational and business risks laced by the charity, they have established
effective system5 to mitsgate those risks.
ObJ•ctlve8 and actmtles
To promote public educatk)n and research {*K4uding publication of the useful results
of such research) in the followAng ￿$.
The art of music
The flora of the Mediterranean and the trop
The art of garden deswJn and landscape architecture
To maintain. Consolidate and extend the garden, collection of plants. and gardening in
a sustainable, environmentslly resFM)nsible vrdy.

WILLIAPI WALTON AND LA MORTELLA TRUST
REPORT OF THE TRUSTEES (CONTINUED)
FOR THE YEAR ENDED 31 December 2021
To enrich the museum and perfomance facilities (including but not limrted to the rectial
hall and the Greek theatre) al La Mortella for the benefit of the public land pa￿"cUlarlY
for the benefit of young peoFde and people are not abl&bodied).
To establish and maintain a museum for the display ol Nlliam Walton memorabilia,
musical artef￿ts and other items of musul interest so as to prcThole public educatiDn
in the vKJrks of Sir William Walton and his mus
The obJ￿tIVeS for the yo•r 2021 worn:
Given the persistent hearth concem cOnn￿ted lo CDvi¢&19. and the varK)usly slaged
lockdowns, the trustee5 agreed to keep evaluating the evolutr.on of the PaTrdeM￿ and react
8eCord￿gty. in regard to the Charity Commission's general guidance on public benefrt.
In relation to the gardens in Ischk4. r( *as recc4nmended that the staff gel their vaccination as
soon as possib]e and that Ihey prep*8d to reopen the garden rf the Italian situation and
legislation allowed IL
The Trustees pL9nned to ¥￿￿{ dosety with some Mus￿[ inslrtutK)ns that worktrj the
foundation in the pas( lo eheck Iheir situation in view of the parKlemic.
It was hoped that some mu$ical a¢lMt*s coukl be organize(I bul al the beginning of 2021 it
was impossible to put dovm any Flans for the future.
Grant4naklng pollcy
Grants wll be made to those L￿leS who request SLWOrt in research of the Ilora of the
Medrterranean and the tropics, the art of music with relatDn lo Ihe of William Waiton. and
to the art of garden desyJn and landscape architecture.
It is intended that those who ￿nefftfrom the charl￿$ wot* will include young professional and
amateur MuS￿l8n$, horticufturalists and kndscape desTrgnets.
Achievements and perforniance
As many CovKI-19 restrictsons were stil in p￿e. during 2021 the actiwties were mosty limtted
to running the gardens.
In Ischia. a5 recommended. the staff had th￿r vaccination. The garden opening was
postponed to 13 May 2021, in accordance with the Italian Government heallh restritions.
Visitors and audience for concerts were admitted only rf they could Show vaccination
cerlificales. Many restrictw)ns applied for numbers admrtted m enelosed spaces. social
distancing, off￿e heath measures. etc.
The Trustees decided to SUPFQrt the gardens., Fonda2ir)ne Willkqm Walton e la MortelLa with a
contribution of £200.000 to cover the k)sses due to the lockdow
Chamber mvsic concerts were resumed in May 2021. wlh a concert by Trio Chagall.. Violin.
cello and ppano, that was dedicated to the memory of the late Duke of Edinburgh.
Botanical painting cOu￿e were he￿ in May and Septemt¢r 2021.

LLIAM WALTON AND LA MORTELLA TRUST
REPORT OF THE TRUSTEES (CONTINUED)
FOR THE YEAR ENDED 31 Decfrmber 2021
In18le June 2021 the coneert season atthe Greek Theatrewas also revived, but it was dec>ded
that we would invite small ensembles. given the many reslrKtions lo travel and physical
proxwnity.
We Organried a total of 6 concerts, with a vast range of must groups. This included the BINI
Brass Ensemble.. the Conservatory Tartini Triesle with a perfomants of Stravinskij's Hi8toire
du soldal,. the Chamt*r Ensemble of Southbank Sinfonia," the Oiche5tra Giovanile
Sanitansamble, a S(￿(811Y committed orchestra that gathers youro people from poor
neighbourhood5 in Naples.. the Chamber Orchestra "Lorenzo Da Ponte" Irom Venti and a
Young Dance c￿panY from Rome. for 8 Ballet perfomance.
In the UK. we suFpJrted the newwallon Festival Lake District Summer Music, and Trustee A.
Vinciguerra gave a ￿de0 conference for Ihe final day of perfomiances.
In 2021 we also started a colkbDration with the KeybMrd Trust. to have them send a young
Plenist lo perfomi in one of our coneerts.
Flnanclal revlew
The financial results for the year ended 31 December 2021 are set out on pages 10 to 17.
Income of the Trust in the year totslled: £161.967. including interest of £107 and royalty
income of£161.860. No donations or legacies were r￿eNed in 2021.
Charitable activity expenditure lotalled £259.230 and incbjded grants maj8 of £238,000 10
various insth"tution5, see note 6. and support costs ot £21.230, see note 7.
Totsl net movements in reserves funds in the year was an expenditure of £97,263.
The balance sheet show5 total funds of £1.553.190. This includes a cash at bank balance of
£1,143,529. Al funds are Unrest￿ted funds, available for charitable purposes. The trusieès
consider the levd of reserves meets the charrties reserve policy.
Investmgnl pollcy
The Trustees meet annually to assess the investrnent wlry. The matn oty'eclwe is to reduce
the risk associated wlh the frusl's inve5trnents.
At 31 Decvnber 2021. there was no ￿Ve$￿￿ent.
Rgs¢rves poli¢y
The Trustees have fo￿allY adopted a reserves policy. This recognise5 that income does rTrot
arise evenly year on year and to enable the Charity to plan ils 8cIMlies il i8 prudent lo hold
reserves.
Unrestricted reserves as at the balaft￿ sheet date amounted to.. £1.553,190 (2020..
£1.650,453}. There are no restricted reserves and all ￿Se￿e$ are free reserves.
It is the interrtion of the Trustees to ensure that these reseNes are for the continuation of the
Charitys operations in the futu￿. The level of reserves is annualty by the Board of
Trustees and GOn￿dered when preparing Ihe annual budget

WILLIAM WALTON AND LA MORTELLA TRUST
REPORT OF THE TRUSTEES (CONTINUED)
FOR THE YEAR ENDED 31 December 2021
Plans for the future
The plans for 2022 are=
To resume the regular aclivilies. eSP￿lalIY conceming the concert5.
To review disabled access and infom)alion available in the gardens.
To reorganize the archive collection and improve facilities for researchers.
Trustees
The Trustees in office during the year were as follows-
John F da Luz Cama¢ho
Alessandra Vinciguerra
Caroline Howard
Trustoes. responsibilities statement
The Irustees are responsible for preparing the Report of the Trustees and the financial
slatements in accordance with applicable law and United Kingdom Accounting Standards
Iunited Kingdom Generally A￿pted Accounting Practs'ce).
The law applicable lo Char￿e$ in Engfand and Wales requires thelruslees to prepare accounts
for each financial pertod which give a true and fair view of the state of affairs of the charity and
ofthe incoming resources and applic21ion of resources of the charity for that year. In preparing
accounts showing a true and faw view the trustees"
Select suitable accounting w)licies and then apply Ihern consistenly.
Observe the methods and principles in the Charities SORP.
Make judgements and estimates that are reasonable and prudent.
Follow applicable accounting standard5 and statements of recommended practice. subject
to any material departures disclosed and explained in the accounls.
Prepare the accounts on the going concern basis unless it is inappropriate to presume that
the charity will continue in operation.
The trustees are responsible for keeping proper accounting records whiGh disclose with
reasonable accuracy at any time the financial position of Ihe charity and enable Tt lo ensure
Ihat the financ￿1 statement5 comply with the Charilies Act 2011, the Charity (Accounts and
RepK)rts) Regulations 2008 and the provisions of the trust deed. They a￿ also responsible for
safeguarding the assets of the charity and for tskiThJ reasonable steps for the prevention and
detection of fraud and other irregularities.
Approved by the trustees and signed on their behalt.
rlW-
ohnFd
Trustee
Appro
uz Camacho
d by the Trustees on 28
tober 2022

WILLIAM WALTON AND LA MORTELLA TRUST
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF WILLIAM WALTON AND LA MORTELLA TRUST
FOR THE YEAR ENDED 31 December 2021
OpSnion
We have audi(ed the financial ststements of the Wdliam Walton and La Mortella Trust (the
'charty'l for the year ended 31 December 2020 which comprise the Statement of Financial
Aeliwlies, the Statement of Financial Position and notes to the financial statements, including
summary of signifunt accounting policies. The financi81 reporting framework th81 has been
applied in their preparation is applicable LAW and United Kingdc*n Accounting Standards,
including Financial Reporting Standard 102 The F￿ancial Reporting Slandard applicable in
the UK and Republic ollreland IUnite(l Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements..
gNe a true and fair view ol the stste of the Chari￿s affairs as at 31 De￿rnber 2020, and
of its incoming resource5 and application of resources. for the year Ihen ended..
have been property prepared in accordance ¥￿th United Kingdtxn Generally Accepted
Accounling Pratie.. and
have ￿en prepared in accordance ￿ the requirements of Ihe Charities A£1 2011.
Basis for opinion
We conducted our audit in accordance with Inlemational Stsndards on Auditing {UK) IISAS
(UKII and applicabfe law. Our responsibilit*s undef those standards are further described in
the Auditor's respunsibililies for the audit of the financial statements section of our report. We
are inde￿ndent of the charity in accordance with the ethical requirements that ale relevant
our audit of the financial staternents in Ihe UK. induding the FRC'S Ethical Standard, and we
have fulfilled our olher ethical responsibilities in accordance wrth these requi￿ ments. We
believe that the audit evidence we have oblained is sUff￿ent and appropiiate to provide a
basis lor our opinion.
Conclusions relating to going concern
We have nottling to report in respect of the fol¢Mng matters in relation to which Ihe ISAS IUK)
require us lo report lo you where".
the Iruslees, use of the going concem basis of accounting in the preparation of the
financial statements is not appropriate" r
the trustees have not disclo*J in Ihe finanryal stalwnents any identrfied material
uneertainties that may cast s￿n￿lcan1 doubt aboul the charity's ability lo continue to
adopt the going concern basis of accounting for a period of at least tsyefve monlhs from
the date when the financial statements are authorised for issue.

WILLIAM WALTON AND LA MORTELLA TRUST
INDEPENDENT AUDITOR'S REPORT ICONTINUEDI
TO THE TRUSTEES OF WILLIAM WALTON AND LA MORTELLA TRUST
FOR THE YEAR ENDED 31 December2021
Other information
The trust￿ are responsible fcf the other informatK¥ll. The other information comprises the
Informalton included in the trustees. annual rewt, other than Ihe financial stalernenls and our
auditor's report thereon. Our opinion on the finanaal statements does not cover the other
information and. exwl to the extent otherwise explicty ststed in our reporL we do not
express any fomi of assurance cMClus￿n there(￿.
In connectk)n with our aLrdil of Ihe financial ststements, our ￿ponsibl￿ty i% to read the other
infomiation and, in doing so, eonsiderwhether the other infomiation is materialty in¢on$i$lenl
wi(h the financ￿1 ststements or our knowledge obtained in the audr( or otherwse appears to
be materially misstaled. If we identfy such material inconsislencies or apparent material
misstatements. we are required to delemiine whether there is a material mis5tstement in the
financial statements or a material misststemenl of Ihfy other infomiatson. If, based on the work
we have perfomed, we Conclude that there 1$ a material misslalement of this other
information. we are required to report that f8cL
We have nothing lo report in this regard.
Matt•r8 on whieh wè are requlred to report by exceptlon
We have nothing lo report in resFect of the followng matters in relab.on to which the Charities
(Accounts and Reports) Regulat￿1n5 2008 require us lo rep￿rt to you rf. in our opinion:
the infomialion given in the financial statements is inconsistent in any material respect
with the trustees, report,. or
suff￿18nt accounbng r6rords have not been kepL or
the financi￿ statements are not in agreement wrth the accounting records.. or
we have nol recerved all the infomiatirM and expf8natr.ons we require for our audit.
Ro8ponsibllltle8 of trnst•e8
As ewained more fully in the trustees. responsibiffties sL*emen( the trustees are responsible
for the preparation of financial statements whth gNe a true and fair wew. and for such internal
control as the Irustses detemiine is necessary lo en8ble the prepaTation of financi81
statements that are free frc*n material misstatement. whether due lo fraud or error.
In preparing the financial statements, the trusiees are responsible for assessing the chanty's
ability to continue as a going concem, dis¢k)sing. as applicable, matters related lo going
oncern and using the going concem basis of accounting unless the trvslees either intend to
liquKlate the chaiity or lo cease O￿l8￿0n$. or have no realisb"c allemative bul lo do so.

WILLIAM WALTON AND LA MORTELLA TRUST
INDEPENDEKf AUDrroR'S REPQRT {CONTINUED)
TO THE TRUSTEES OF WILLIAM WALTON AND LA MORTELLA TRUST
FOR THE YEAR ENDED 31 December 2021
Auditorf¥ re$ponsibiliti•s for the audit of the finan¢lal ststgments
We have teen aFpointed as auditor under section 145 of the Charities Act 2011 and wport in
accordance wlh regulat￿nS made uTrJer section 154 of that Act
Our objoclives are to otrAain reasonat4e assurance atrfjut whether the f￿anCIal 51atements as
8 whole are free frcfft material misslalement. whether due to fraud or errgr, and to issue an
auditofs report that includes our opinion. Reasonable assurance is a high level of assurance.
but is not a guarantee Ihal an audrt eondueted in accordan￿ wth ISAS IUIQ wll a￿ayS detect
a material mv65talemenl when rt exists. Misstatements arise from fraud or error and are
consKJered material if, individually or in the aggTegale, they CoU￿j reasfmably be expected lo
influence the eCon¢Yn￿ decIs￿nS of users t*en on the basis of these financial statements.
Irregularities. including fraud, ar& instances of non•ecffipliance with laws and regulations. The
extent lo which our prc¢edure5 are capa￿e of detectwig irregularities, i￿[uding fraud, is
detsiled below.
Extent to whlch tho audit was consid•red capabl• of d•t￿lIng Irrngularltles. Includlng
fraud
The (￿je¢l￿e5 of our audi( in resFect to fraud. are.. to identify and a$5es$ the risk$ of material
misstslement of the finaneial 5tstefnents due to fraud., to obtsin Sufficient appr¢)priale audit
evidence regarding the assessed risks of material misstatement du8 to fraud, through
designing and implemenkn'ng appropriate responses,. and to respond appropriately to fraud or
suspected fraud idenlified duriro the audit. However. the primary responsibility for the
prevenbon and detecth)n of fraud rests both those charged witt governance of the entity
arKI its managwnenl.
Ow approach was as folkms..
We idenbfied areas ol laws and regulatK)ns that could reasonabty tre expected to have a
materral effect on the financk81 statements from our general commercial and sector
experience, and through discussion with the director5 and other management las required
by auditing stsndardsl, 8nd ijiscussed wth the directo￿ and other mana9ement the
policies and prcteduTes regarding compliance wrth laws and regul*on$,'
We cons#Jered the legal and regulatory framewotks direcljy applical￿e io the financial
statements rgporb'ng framewoth IFRS 102 and the Charities Act 2011) and the relevant
tsx ccrfnplianc& regulations in the UK"
We considered the natu￿ of the industry. tre control enwronment and bu$ino$$
perfomiance, ineluding the key drivers for managemenl's remunoralion.,
We ccrfnrnunieated identified laws and re9uLqlions throughout our team and remained alert
to any indicalions of non-C(Knpliance Ihroughout the audit."
We considered the procedures and controls that the charty has established to address
risks idenlrfied, or that otherwise prevenc deter and Oelecl fwd,. and how sen￿1
managernent monitQfS th)se programmes and controls.

WILUAM WAL TON AND LA MORTELLA TRUST
INDEPENDENT AUDITOFfs REPORT (CONTINUED)
TO THE TRUSTEES OF WILLIAM WALTON AND LA MORTELLA TRUST
FOR THE YEAR ENDED 31 December2021
Based on this understandFng we designed our audit procedures to identify non-compliance
with such laws and regulations. Where the risk was considered lo be higher, we perfomied
audit procedures to address e&h idenltfied fraud risk. These prccedures included.. testing
manual joumals.. reviewng the financial siatement disclosures and lesling to supporting
documentation". performing analytical pr￿ed￿re$.. and enquiring of management. and were
designed to provKle reasonable asSUra￿e that the financial ststements were free from fraud
or error.
(￿ing to the inherent limilalKJns of an audr(. there is an Unavoidab￿ rtsk Ihatwe may not have
detected some material misststements in the financrdl staternents, even though wg have
properly planned and perfomed ouraudil in accordance with audits.ng standards. For oxample,
the further removecl non-cornpliance wth laws and regulations {irwularities) is from the
events and transactions reflected in Ihe financial statements, the less likÈly the inhèrenlty
limited procedures requiied by auditing standards would identfy IL The risk 18 also gfeater
regarding irregularities 0￿urring due to fral￿ rather than error. as fraud involves intentional
concealment. forgery, collusion, rynission or misrepresentstion. We are not responsible for
preventing non-compliance and cannot be expected to delect nonthcompliance wilh all laws
and regulations.
A further de8cripb.on of our responsi￿11￿@$ is available on the Financial Reporting Coullcil's
website
al..
hltps.'IIvw4.frc.org.uklOur-WorklAudiVAudit-and-assurancelSlandards-and-
guidance6tandardS•and￿uidanCe-for-aLKlitQr51Audlt0rS-resp0n5ibIllties-for-
audiUDescription-ol-audiloTs4eswnsibil￿e5-for-a￿￿.l.aSpx. This description forms part of our
auditorfs report.
Uso of our r•port
This rewrt is made 501ety to the charity's trustees. as a body, in accordance wth Part 4 of the
Charities (Accounts and Reports) RegulatH)ns 2008. Our 8udit work has been undertaken so
that we might state to the charl￿$ trustees those matters we are required to state lo them in
an audilorfs report and for no other pUr￿Se. To the fullesl extent pemitted by law. we do nol
a¢￿p1 or assume responsibility to anyone other than the Charity and the chari￿$ trustees as
a body. for our audrt work. for this repN( or foi the opinions VR have lormed.
Mark Levy (Spnlor Ststutory Audltor)
rand on bfjhallof TC Group
Statuto
Offic•: London
Datod:
3111012022
TC Group are eligible to xt as an auditor in lenns of s￿tion 1212 Dfthe Companies Act 20C6.

WILUAM WALTON AND LA MORTELLA TRUST
STATEMENT OF FINANCIAL ACTIVMES
FOR THE YEAR ENDED 31 December2021
2021
Unrg$tri¢t•d
Funqls
2020
Unro$tri¢tgd
Fund$
Notes
Income and gnd¢wm?nts from-
Investment
Othgr
107
161.860
768
231.301
Total Income and endowments
161.%7
232.069
Ex
gndlture on:
Charitsble activit
{259.2301
1147.225)
Total expenditure
(259,2301
1147,225)
Nel incomel (expenditure} for the year and
n•t movoment in lund$
(97,263)
Reconciliation of funds
Balances brought fopAtard
At l January 2021
1.650.453
1.565.609
Balances carried foTh¥ard
At 31 Devmbgr 2021
1.553.190
1.650.453
AJI incoming and outgoing resourw relate lo the general fund. which is unrestricted.
10

WILLIAM WALTON AND LA MORTELLA TRUST
STATEMENT OF FINANCIAL POSITION
AS A T 31 December 202q
2021
2020
Notes
Current assets
Debtors due within one year
Cash at bank and in hand
Creditors: Amounts falling due
within one year
425.933
1.143.529
397,505
1,263,404
(16.272)
(10.456)
Total assets less current Ilabilities
1,553.190
1.650.453
Represented by:
Funds and reserves
Unrestricted funds
1,553.19)
1,650,453
All assets and liabilities relate to the general fund. which is unrestricted.
The A￿Ounts were approved by the Trustees on 28 October 2022 and signed on their behalf
by:
ohnF
Trust
a Luz Camacho

WILLIAM WALTON AND LA MORTELLA TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YE4R ENDED 31 December 2021
l. Accountlng poll¢l
Chartty Inforniatlon
William Walton and La Mortella Trust is a Charity registered in England and Walas. The
registered address is 89 Judd Street Lonthsn WC1H 9NE.
Accounting conv¢ntFon
The attounts have beon prepared in accordance with the charit￿$ trust deed, the Charities
Act 2011 and "Accounting and Reporting by Charities.. Statement of Recomrnended Practi
gwlicable to charityes preparing their accounts in ac￿rdarbce wrth the Financial ReF(Jrting
Sbndard appli¢able in the UK and RepublK of Ireland {FRS102)" (effective 1 January 20191.
The accounts are prepared in sterting. which is the fUndN￿al currency ofthe Charty. Monetary
amounts In these financial ststements are rounded to the nea￿$t £.
The a￿ounts have teen prepared under the histcwl cost Convention. prineipal
accounting poI￿leS adopted are set ￿t below.
Golng conc•m
Al the time of approving the accounts, the Twslees have a reasonable expects1￿ that the
Charity has adequate resources tocontinue in operatsonal existence foi the foreseeable future.
Thus Ihe Truslees continue to adopt the going corrnn t>asi5 of aLrounting in preparing the
accounts.
Charf¢•ble fundg
Unrestricted funds are available for u$e at the dI￿reh0n ol Ihe Trustees in furtherance C￿ their
chwitablF obJ'ec)'ves unless Ihe funds have been designated other purpo￿.
Inc¢m8
Incoming re%)uTces are rwnised in the Feriod in wh￿h ts charity is enblkd to receipt and
the amount can be measured with reosonable certainty.
Wth the exception of income ari8ing fr(#r donatK)ns. all wiccffie is credited to the slatement of
financia aclivities on a receNable basts.
Don81ions are ¢xedited lo Ihe stateffent of financial actIVrt￿ in the period in whth they are
received
12

WILUAM WALTON AND LA MORTELLA TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 21 December 2021
Expenditure
Expenditure is induded in tho stslemenl of financi81 &tivibes V•l)en in(wried and includes
attributable VAT which cannot be recovered.
Resources expended comwise the folknmng".
a. Charitable 8th.ties include grant payments. wh￿h are induded in the statement gf
finanaal ￿tIvItieS when appioved and vthen Ihe intsnded recipient has either
received the funds or been infomied of the ¢JectsKJn lo make the grant and has
satisfied all related Condit￿S. Grants where the beneficiary has not been infomied
or ha5 to meet certain conditions befofe the gr8nl is released are not accrued lor bul
are noted as fin8nci81 commitments in the notes lo the accounts.
b. Govemance costs coThprrse the costs incurred by finance and human re¥ourcos
which are direclty attributable to the management of the charitys assels.
organisalional procedures and the necessary legal prowjU￿S for compliance with
slatutory requirements.
Cash flow
The accounts do not include a cash flow statement because the charty. as a Small reporting
enlty. is exempt from the requirement lo prepare such a statement under Financkal Reporting
Standard 1 "Cash flow statements".
Cash and cash equlvalgnts.
Cash and cash equivalents indLKle cash in hand, ¢JeFosits held at call vith banks. other short-
term liquid investrnenls with orKJinal maturities of three months or less. and bank overdraft5.
Bank overdrafts are shown within borrowngs in current liabililiey.
Flnancial instruments
The charity has elected to apply the provisions of Seclion 11 'BaS￿ Financial Instruments,.
Financial instruments a￿ recognised in the Stslement of Financial Posith)n when the charity
becLymes part lo the contractual provisions of the instrument
Financial gssgt$ and Irabilities are offse( with the net amounts presented in the financial
statements, when there is a legally enforceable rb3ht lo set off the recognised amounts and
there is an intention lo settle on a net basis or lo realise the asset and settle the liabilrty
simullaneousty.
Baslc financlal assets
Basic financial assets. which include debtors and cash and bank balan￿. are initially
measured al transxlion Pr￿ including transaclKJn costs and are subsequently carried al
amortised cost using the effective interest method unless the 8rrangemenl constitutes a
rinancial transacb'on. where the Iran58Ction is measured at Ihe present value of the future
receipts discounled at a market rate of interest. Financial assets ¢lassrfied as receivable within
one year are not ammised.
13

WILUAM WALTON AND LA MORTELLA TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 December2021
Basic financial liabilities
Bas￿ financial liabilities. including credrtors and bank loans are initialy recognised at
transacts.on pri￿ unles5 the arrangement consb"lutes a financing Iran58cb'on. where the debt
instrument is measured at the present value of the future pawnents dtscounted at 8 market
rate of interest. Financial liabilities classrfied as payable Nwthin one year are nol amortised.
Debt inslwments are $rtJsequently carried at amortrsed cosL using the effeclive interest rat&
methc*J.
Trade creditots are oblykn'cfi to pay for goods or services thal have been acquired in the
ordinary Course of operations from suppliefs. Arnounts payable are classified as current
liabilities if payment is due within one year or less. W not Ihey are presented as non-current
liabilities. Trade creditors are rwnised initially al tr8ns*tion price and subsequenlly
measured ai amorb.sed eosl U￿n9 the effective inlerest method.
Dere¢ognition of finan¢lal liabilities
Financial liabilities are derecognised when the charitys Contr￿tUal oblgations expire or are
discharged or cancelled.
2. Judgem•nts and key sources of estlmatlon uncertalnty
In the appI￿at￿n of the Charitable Organisalions aCC￿jntrng policies, the Trustees are
required to make judgements, estimates and assumpb'ons aboullhe ￿rying amount ofa5sets
and liabilities that are not readily awarent from other sources. The estimates and associaied
assumptions are based on historical experience and other factor5 that are considered to be
relevant. Actual results may differ from these estimates.
The estiTnales and underlying assumptions are ￿eWed on an ongting basis. Rewsions to
accounts.ng estimates are recognised in the period in which the e5ts"m3le is revised where the
revision affects only that perK)d, or in the period of the revision and future periods where the
revision affects both current and futu￿ pericmjs.
In the opinion of the Truslees there we no signffKarrt judgements or area$ of e8ts"m8tit)n
uncertainly.
14

WILLIAM WALTON AND LA MORTELLA TRUST
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DK8mb8r 2021
3. Income from Investments
2021
2020
Interest receivable
107
768
4. Othgr incomo
2021
2020
Royalty In￿ne
161.860
231,301
S. Charltabl• acti¥itles
2021
2020
Grants (see note 61
Support costs (see note 7)
238.0
21.230
125.700
21,525
259.230
147,225
15

WILLIAM WALTON AND LA MORTELLA TRUST
NOTES TO THE FINANCIAL STATEMENTS ICONTINUEO)
FOR THE YEAR ENDED 31 December2021
6. Grants
The ¢hanty makes grants to in5ts"lutions in accordance with its grant making Policy Set out
in the trustees, ￿port.
Institutlon8
2021
2020
Fondazione William Walton e La Mortella
garden and educational actmties
The Williarn Walton Trust
Royal College of Musi
Chelham's School of Music- schojarship
Southbank Sinfonia
The Ralph Vaughan Williams Society
Royal Welsh College of Music
N8ty'onal Youth String Orchestra
Sislema Scoll¥nd
Royal College of mU￿C
Oxford Symphony Orchestra
Dr J H Williams
Royal Opera House
A J Kendall
200,000
100,000
20,000
20.￿0
2.000
2.500
2,500
2.500
3.000
2.500
2.500
2.000
500
500
400
300
238.000
125,700
7. Support costs
2021
2020
Festival c(pordinalion
Audit fees
Accountancy fees
Miscellaneous expenses
12.875
3,990
3.990
375
12,840
3.990
3,990
705
21.230
21.525
8. Debtors.. duo wlthin one year
2021
2020
Charity repayTnent ctaim
425,933
397.505
16

WILLIAM WALTON AND LA MORTELLA TRUST
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 December2021
9. Crodltors: amounts falling due within one year
2021
2020
Aecruals- Audil & Accountancy
- Professional fees
16,272
8,136
2,320
16.272
10,456
10. Trustees, romunoratlon expenses and arranggments
No trustees v*re reimbutsed for expense5 during the year12020: £nil).
No r￿UneratIOn vwas receNed by any of the Irustees. No trustee had any beneficial interest
in any contract ￿th the charity during the year.
11. Taxation
William Walton and La Mortella Trusi is a registered charty and therefore, is not liable to
income tax or Cc￿ratIOn lax on income or gains derived ftcyn its charitable activities, as they
fall within the various exemption$ available to registered charttses.
12. Relat9d party dlsclosures
The three Iruslees are also trustees of The William Walton Trust (registered Charity number..
2896051. During the year. the charity gave donati￿$ totslling £20.0(K) (2020". £20.0001 to The
William Walton Trust.
During the year. amwnts totalling f2W,CX)0 12020.. £100,OtsJ) were donated to Fondazione
William Walton e La Mortdla, a charity based in Itaty associated with the Trust. One of the
trustees is Ihe presiderbl of the ltslian charity. while another trustee is on the board of trustees
of the Italian charity.
17
WA#tyJ]141*71$6