Registered Charity No: 1115263
WILLIAM WALTON AND LA MORTELLA TRUST
Annual Roport and Unaudlt•d Flnanclal Stalomonts
For tho year ended 31 December 2023
BUSINESS
ADVISORS
& AccouNYAKrs
6 Floor Klngs Houso
9-10 Haymarket
London
Untted Klngdom
SW1Y 48P

IMLLIAM WALTON AND LA MORTELLA TRUST
Contenls
R8POrts
Legal and administrative information
Report of the trustees
2-5
Independent examiner's report
Accounts
Statement of ffinancial activitN8S
Stat8m8nt of financi81 F*)Sition
Notes to the accounts
14

WILLIAM WALTON AND LA MORTELLA TRUST
Legal and admlnlstratlvo Informallon
Patron
HRH Thè Prince of Wales, KG
Trustees
John F da Luz Camacho
Alessandra Vinciguerra
Caroline Howartl
Olivia Hall
Regislered Offi
89 Judd Str88t
London
WC1H 9NE
Charity Registration Number 1115263
Independent Examiner
Philip Clark
TC Group
6 Floor King's House
9-10 Hayrnarket
London
SW1Y4BP
Bankers
Charities Aid Foundation Bank Llmtt
25 Kings Hill Avenue
Kings Hill
West Mglling
Kent
ME194JQ

WILLIAM WALTON AND LA MORTELLA TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 Decem￿r 2023
The trustees present their report together with Ihe financial slatsments of William Wafton and
La ￿rtella Trust for the year ended 31 December 2023.
The flnancHI statements have been prepared in aCc￿rdan￿ wlth the a¢c£*unting Folieies set
out in note 1 to the accounts and comply with the charity's trust deed. the Charities Act 2011
and 'A¢￿untIng and Reporting by CharTli88: Statement of Recommended Practice applicable
to charilies preparing their accounts in accordanc8 With the Fin8ncial Reporting Standard
applicable in th8 UK and Republic of Ireland (FRS102)" (effective 1 January 2019).
Structure. govemance and management
The Trust is govemed by a Trust deed dated 26 June 2006 and is a registered charity, number
1115263. The Trust was established by an initial gift from Lady Walton following Ihe death of
her husb8nd. Sir William Watlon in 1983. Lady Walton died on March 21. 2010. The Trust
does not actively fundraise and seeks to contlnue tts w)rk through caréful stewardship of
existing resources.
The Trustees are appointed by th8 Board and Serve for three years after which period they
may put themselves forward for re-appointment. The Trust t)eed does not state a limlt lo the
number of Trustees.
At the six monthly trustees, meetings the trustees agree the broad strategy and aTeas of
activty for the Trust, including consideration of grdnt making. investment. reserves and risk
managerrEnl policles and performance. The day to day administration of granls and the
processing and handling of applications prlor to consideration by the Trustees is delegated to
the Admlnistrator.
Newly appointed trustees undergo an orientation session to brief them of thelr legal obligatlons
under charity law, the content of th& Trnsl Deed, and the decision making processes, the role
oflhe Administrdtor and re￿ntfinancIal perfomance. Priorto taklng up the posl truslees meet
the key Fersons a$so¢lated wlth the running of the Trust.
Ri6k managomont
The Trustees have assessed the major risks to which the charity is exposed. in partlcularthose
relating to the specific operational areas of the charity and its finan￿$. The Trustees believe
that by rTh)nitoring reserve levels, by ensuring controls exisl over key financial systems. and
by examining the operational and business n$ks fawl by Ihe chartiy. they have established
effective systems lo mitigate those risks.
Objectlves and actlvltles
To promote public education and research {including publication of the usefijl results
of such research) in the following areas:
The art of music
The flora of the Mediterranean and the tropics
Th8 art of garden design and landscape architecture
To maintain. consolidate and extend the garden, collection of plants, and gardening in
8 SU8t8inable. environmentslly responsible way.

LLIAM WALTON AND LA MORTELLA TRUST
REPORT OF THE TRUSTEES (coMfiNUEDI
FOR THE YEAR ENDED 31 D•c•mber 2023
To enrich the mu8eum 2nd perfom)ance facilities {ncluding but not limited to the r8cttal
hall and the Greek theatre) at La Mortella for the benefit of the public (and particularly
for the benefrt of young people and people who are nol abb-b(yJied}.
To establish and maintain a museum for the disp18y of William Walton mermrabilia.
musical artefacts and other items of musical interest SO 88 to promote public education
In the works of Sir William Walton and his music.
The obj•ctivos for Iho y•ar 2023 were..
To encourage and support projects related to Fapde, in UK and Italy especially but
not limited to concerts.
To review Itfts and plattorms for dlsabled accass in La Mortella Gardens.
To continue reorganlzing the archive collection and improve faciliti8s for r8s8archers.
Grant-making policy
Grants wlll be made to those bodies who request support In ￿searCh of the fbra of the
Medilerrane8n and the tropics, the art of music with relation to the work of William Walton, and
to the art of garden deslgn and landscape architecture.
It is intended that those who benefit from the charity's work will include young profess*)nal and
amateur musl¢ians, horticulluralists and landscape designers.
Achlevements and pérformanco
During 2023, extensive works were carrted out in the Archive and Gardens La Mortella. A
conslNction site was op8ned at the end of 2022 In the William Walton Music StLtrJio, and for
th8 first part of th8 year thorough maintenance and consolidation works were implemented on
both the masonry structures and various systems. At the same Ilme an architect ￿as hired to
develop designs for 8 la￿Je bookcaseldisplay case in which a m8aningful part of the Walton
archive would be transferred, making it Visib￿ to the general public. The struclural work
progressed at a rapid pa￿. and most of the construction was finalized just in time before
reopening the gardens to the public. The unfumished room was onty used as a support point
for the musicians during the season. whlle the design for the newfumiture was developed.
A new In% was installed to give a¢￿$ to the musicians, residential area and Greek Theatre
backstage. The new Itft meets the most recent safety EEC codes and allows transwrt of
people and musical instruments as well. The existing plaffomi for wheelchair was upgraded
and refurbished. It allows disabled visitors to access the Recital Hall.
The garden opened lo the public on April 1st, a Saturday. and on the same day th8 chamt*r
music concerts stsrted. In 2023, 48 indoorchamber music concerts and 6 symphonrc concerts
were organized. The Charnber music cnncerts included ￿ perfom)anixs of the ensemble
that was awarded the William Walton Scholarship, namety the Trio Sechter, and ensemble
that was fonned at the Fiesole School of Music in 2022. bringing tc*Jetherthree frfends united
by their passion for chamber music.
There were perfomances by young pianists, such as Pedro Lopez Salas, WFlhin the
collaboratDn with the Keyboard Trusts,. piano duets, strings. vol￿, guitar., during the fall a
series 018 concerts in collaboration with the Acc£demia FilarmoniGa Romana. Dialogues. had
great su￿ss. The Theatre season began on June 22 and It Included various youth orchestras

WILLIAM WALTON AND LA MORTELLA TRVST
REPORT OF THE TRUSTEES (coKfiNUED)
FOR THE YEAR ENDED 31 December 2023
and ensembles. such as the Trinty College Choir. a Ballet performan¢g, a Youth Jazz
Orchestra and a very moving performan￿ from the Orchestra dei Quartieri Spagnoli from
Naples, an inclusive orcheslrd based on the principles of El Sistsma th81 aims to encourage
young musician from disadvantaged background and to promote social skills and educalbn
for young people in impoverished clr¢umstsnces.
During 2023 the gardens registered an increase in the numberof vlsltors. totalling over80.000,
with a wider age range including the younger generalion. At the end of ihe year, the Garden
Direction was approached by representatives of the Royal Horticultufdl Society to ask rf they
want to become a "Parther Garden., a very PreSt￿louS request.
As the Italian Govemment has been revi8wing during the last years their charity18gislation
and implementing a new approach to the related accountlng systsm and tax implications. Ihe
Fondazione decided to postpone their request of funds from the Trust for the current year, to
get a better sense of the required procedures once the new Lqw (Codice del Terzo Settore)
will b8 fulty operatbve.
The Trust sponso￿1 several performances of Fapde in Concert Halls and Festivals through
the UK. and in conjunction wtlh the Fondazione and Accademia Fila￿OnICa Romana
produced In November a performance in a major theatre in Rome Italy. that w88 very well
received.
In the spring, Te Deum by William Walt¢)n was performed during the coronation, which led to
a surge in press interest, with interviews and special reports. Walion's music was also
performed during the Proms (Violin Concerto, 1 st Symphony and Belshazzar's Feast that was
also broadcast on BBC).
Just Ilke In the past years. In the coursè of 2023 it was confimied that th8 William Walton La
Mortella Trust and the William Watton Trust's activities in the field of music in general, and in
the management of the Walton Museum and Archive, completely overlap. to the rx)int that
there is no distinclion between the two charities in this respect. Therefore, the Trustees. that
are the same for both charities. deGided to invesligate about the Ex)ssibility of seeking a merger
between the IMO, as they belleve that untfying the ￿ organizattons will simplify the
administration and make it eaS￿r to pursue th8ir shared charitable purposes.
Flnanclal reviow
The financial results for the year ended 31 December 2023 are set out on pages 7 10 14.
Income of the Trust in the year totalled.. £277,343, including interest of £38,031 and royalty
income of £239,312. No donations or legacies W8re rec8ived in 2023.
Charitable activity expenditure totalled £166.716 and induded grants m*Je of £79.500 to
various institutions, see note 5. and support costs of £87,216, see notè 6.
Total net movements in reseNes funds in the year was a net in¢ome of £110,627.
The balance sheet shows total funds of £1.831.246. This include8 a cash at bank balance of
£1,758,666. All funds are unrestricted funds. 8vaiLqble for charStab16 purposes. The tnjstees
consider the level of reseNes meets the charities re$eNe px)licy.

WILUAM WALTON AND LA MORTELLA TRU8T
REPORfoF THE TRUSTEES (CONnNUED)
FOR THE YEAR ENDED 31 Do¢•mb•r2023
Inv••kn•nt pollcy
The Trustees meet annu81ty lo a88e88 the InveBtment wlicy. The main obie¢llve18 to reduce
rf6k a880clated with the Tm8f8 invknnt8.
At 31 December 2023, there wa8 no Inve8kn8nt.
R•sor￿ policy
The Trustee8 have fommfty adopted 8 rn8erye8 Wky. Thls recognIsa8 that Income does not
arlse eventy year on year and to en*le Charlty to plan tt• activille8 it h Prndeth to h￿d
Unrestrfcw reserves as al the beknnce Sheét date amounted to: £1,831,246 (2022:
£1.720,619). Thera are no re8tricted reserves and all reserves are free reserves.
It b the intentton of the Tntytees to erwre that these reserves ara for the conllnuation ofthe
cha￿.$ oper8tion8 In th6 firtur6. The level of reseThe$16 revlewed aTrnualty by the Bowd of
Trustees and considered ¥vh8n preparfry the annugl budget.
pla￿ for tho futur•
The F4ans for 2024 are:
To Teopen Wllliam walt￿ Mu8K Rck)m b Ihe puNk. organtslng 8 display ofArc
materfal and of LatyWatton'$ objects.
La Mortella trust
To slartworking oftha mgrgo bottr%Een theWIVamW8lton Tru8tandthe WillramW81ton
fealuos.
To improve the MedIta￿an9&n pwt of the garden8 at La Mortella, adthng new a8rd¢n
To continue the organlz8Uon of ¢Ol*ert8 and music fe8Uv* at La Mortella.
Trustees
The Trustees In olllce duriru the as folknv8.'
John F da Luz Camacho
Alessandr8 Vinclguerra
Carofine Hcward
Olivla Hall
by the Irujtees $lgr*d on thelr béhalfr.
Joh F da Luz
Tru
maeho
Approvfd6 thfr Truste•s on 28 0
r 2024

WILLIAM WALTON AND LA MORTELLA TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF WILLIAM WALTON AND LA MORTELLA TRUST
FOR THE YEAR ENDED 31 December 2023
I report to the Irustees on my examinatKJn of the accounts of William Walton and La Mortella
Trust (the Trust) for the year ended 31 Decethr 2023.
Responslbllltles and basls of report
As the charity trustees of thé Trust you are reswnsible for the preparation of the accounts In
accordance wtth the requirements of the Charities Act 2011 (Ihe A¢t').
I report in respect of my examination of the Trust's accounts carried out under s.145 of the
2011 Act and in carrying out my 6xamlnation I have folk)wed all the appllcable Dlrectlons glven
by the Charity Commission under s.145(51{b} of the Ad.
Independent examlner's ststement
I have completed my examination. I confirm that no material matters have come to my attentDn
In connection wlth the examination giving me cause to belK8ve that in any material resped:
(11 accountlng records were not kept in respect of the Trust as required by section 130 of
the Acl. or
(21 the accounts do not accord with those reo)rd6: or
(31 the aorounts do not comply with the applicable reqUIre￿nts COn￿mIng the fom and
content of accxjunts set out in the Charities IAcLounts and Reports> Regu18tions 2008
other than any requirement that the a¢¢ounts give a 'true and t81r view which Is mt
matter ￿nsid￿red as part of an independent examination.
I have no concems and have come across no other matters in connection with the examinalion
to which attention should be drawn in this r8POrt in order to enable a proper understanding of
the accounts to be reached.
Philip Clark FCCA
6th Floor King's House
9-10 Hayma￿&t
London
SW1Y4BP
3011012024

WILLIAM WALTON AND LA MORTELLA TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 December 2023
2023
Unrestrlctsd
Funds
2022
Unrestrictsd
Funds
Notss
Ineomé and èndowments from:
Investment
Other
38,031
239,312
4.540
198,297
Total Income and endowmenls
277,343
202,837
ndtture on:
Charitable actlvltles
{166,7161
{35.408)
Total expenditure
(166.7161
{35.408)
Net Incomel (exwndlturo} for tho y•ar and
net movement In funds
110,627
167,429
Roconcilialion of funds
Balancos brought forward
At 1 January 2023
1,720,619
1,553,190
BalanGes carried forward
At 31 December 2023
1,831.246
1,720.619
All incoming and outgoing resour￿$ relate to the generdl fund. which is unrestricted.

LLIAM WALTON AND LA MORTELLA TrU8T
8TATEMENT OF FWANCIAL POSITION
AS A T31 DO¢￿ber2028
2023
2022
Curront •S8ets
Debtor8 due wlthln one year
C88h at bank and h hand
Cr•dJtor8.' Amounts falllNJ du•
wlthln on• yèar
79.924
1,758,666
462,007
1,228,748
(7,344)
Total a¥$•l8 la￿ current Ilabllltle•
(8,136)
1,831,246
Ropr••ented by:
Fuiidl and re•orvo8
Unre8trfcW funds
1,720,619
1.831,246
All a88ets and Ilabllltl•8 rektè to thè generd fvnd, whkh is unrestricted.
Th8Artount8 were approved bythe Trustees on 28 October2024 an(1 slgned ¢x) Ihelr behalf
1,720.619
nFda
uz Cama¢ho

WILLIAM WALTON AND LA MORTELLA TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 December 2023
1. Accounling pollcles
Charlty Informatlon
Willkem Watton and La Mortella Trust is 8 Charity registsred in England and Wales. The
registered address Is 89 Judd Street London WC1 H 9NE.
A¢¢ountlng conventlon
The accounts hav8 been prepared in accordance with the Charity'8 trust deed, the Charities
Act 2011 and "Accounting and Reporting by Charities.. Ststement of Recommended Practice
applicable to tharilies p￿paring their 8¢counts in aGcordance with the Financial Reporting
Standard applicable in the UK and Republlc of Ireland IFRS102)' leffeclive 1 January 2019).
The accounts ar8 prepared in sterfing. which is thefunctional currency ofthe Charity. Monetary
amounts In thes8 flnanclal statements are rounded to the nearesl £.
The aco)unts have been prepa￿d under the historical cost conventr)n. The principal
accounting policies adopted are sel out below.
Going Goncom
At the time of approving the accounts, the Trustees have a ￿aSOnable expectation that the
Charity has adequate reSoUr￿S to continue in operational existen(* for theforesee8blefuture.
Thus the Trustees Continue to adopt the going concern basis of accounting in preparing the
accounts.
Charitablg funds
Unrestiicled funds are available for use at the dis(Yelion of the Trustees In furtherancAg of thelr
charltable objectives unless the funds have been designated for other purposes.
Income
Incoming resources are recognised in the period in which the tharity is entitled to receipt and
the amounl (an be measured wilh reasonable certainty.
Wlth Ihe ex￿pt￿n of income 8rising from donations, all income Is credlied to the ststement of
financial activities on a receivable basis.
Donatlons are credlled to the ststement of finanoial activities in the Feriod in ￿[ch they ar8
received.

WILLIAM WALTON AND LA MORTELLA TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 December 2023
Expenditure
Exp8nditure is Included In Ihe stslement of flnanclal activltles ￿en Incurred and Includes
attributsble VAT which Gannot be reu)vered.
Resources expended comprise the following:
Charitable activities include grdnt paym8nt5, Nvhich are included in the stateThnt of
rinancial a￿1vItieS when approved and when the intended recipient has either
received the funds or been informed of the decIs￿n to make the grant and has
satisfied all related conditions. Grants where the beneficlary has not been intomied
or has to meet certain conditions before the grant is released are not accrued for but
are notsd as financial Gommitments wi the notes to the actounts.
b. Goveman(t Costs ￿MpriSe the costs inCUr￿d by finance and human resourc*8
which are directly attribut8ble to th8 management of the charity's assets.
organisational procedures and the necessary legal procedures for compliance wlth
statutory requirements.
Cash flow
The accounts do not include a cash flow statement because the charity, as a small reporting
entity, is exempl from the requirement to prepare such 8 ststen￿nt urKler Flnancl81 Reporting
Standard 1 'Cash flow statements".
Cash and Gash equlvalents.
Cash and cash equivalents include ￿sh in hand, deposhs held at ￿11 wlth banks. other short-
temi liquid investments with original maturities of three months or less, and bank overdrafts.
Bank overdrafts are Sho￿ within borrowings in current liabiltties.
Flnancial instrumonts
The charity has elected to apply the provisions of SectDn 11 'Basic Financial Instruments,.
Financial instruments are recognised in the Statement of Financial Position when the charity
becomes part to the contractual provisions of the instrument.
Financial assets and liabilrf(ies are offset, with the net amounts presentsd in the financial
statements, ￿en Ihere is a legally enforce8ble right to set off the rewgnised arr￿}untS and
there Is an Intention to settle on a net ba818 or to realise the asset and settle the liability
simultsneously.
Baslc flnanclal assets
Basic financial assets. which include d8btors and cash and bank balances. are inttially
rneasu￿d at transaction pri￿ including trdnsaction costs and are subsequently carried 8t
amortised cost using the effective interest method unless the atTangement constitutes 8
financial trdnsactKsn, where the transaction is MeaSu￿d al the present value of the future
receipts discounted at a market rate of interest. Finan¢ial assets c18ssffjied as receivable within
on8 year are not amortlsed.
10

WILLIAM WALTON AND LA MORTELLA TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 December 2023
Baslc flnanclal Ilabllities
Basic financial liabilllies, Including creditors and bank loans are initk911y recognised at
transaction price unless the arrangement ￿nstItUteS a financing tranSaCt￿n. where the debt
inslrumenl is measured at the present value of the future payments discounted at a market
rate of interest. Financlal Ilabllltles olassthed as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effedive interest rdte
method.
Trade ¢redf(ors are obligation to pay for goods or services that have been a￿uIred in the
ordinary course of operations from suppliers. Amounts p8y8ble are clasSif￿d as Current
Siabilities rf payment is due within one year or less. If not, they are presented as non-current
liabilities. Trade Creditors are recognised initialty at transactKJn price and sub$equenUy
measured at amortised cost using the effective interest Tr￿￿0￿.
Deracognition of flnanclal Ilablllt￿s
Financial liablltlies are derecognlsed when the charitys contraGtual obligations expire or are
discharged or ¢an¢elled.

WILLIAM WALTON AND LA MORTELLA TRUST
NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI
FOR THE YEAR ENDED 31 December 2023
2. Income from Investments
2023
2022
Interest receivable
38.031
4.540
3. Other in¢ome
2023
2022
Royalty income
239.312
198,297
4. Charilable activiti0$
2023
2022
Grants {sts not8 5)
Support costs (see note 61
79,500
87,216
7,500
27,908
166,716
35,408
12

WILLIAM WALTON AND LA MORTELLA TRUST
NOTES TO THE FINANCIAL STATEMENTS (coMfiNUED
FOR THE YEAR ENDED 31 DeGember 2023
5. Grants
The tharity makes grants to institutions In accordance Imth its grant Ma￿ng wlicy set out
In the trustees, report.
Institutions
2023
2022
The William Walton Trusl
Southbank Sinfonla
Chetham's School of Music
Heath Str88t Baptist Church
Onyx Brass
Rydale Feslival Trust
Royal College of Music
David RobinsOn￿he Brass Funkeys
Covent Garden Youth Programme
Young Symphony Orchestra
50,000
15,000
4.IKg0
3.000
3,000
2.500
2,000
4,500
2.100
500
400
79.500
7,500
6. Support costs
2023
2022
Festival co-ordination
Professional fees
Accountancy fees
Miscellaneous expenses
16,129
61,491
6.420
3.176
14,718
2,000
7,980
3,210
27,908
7. Debtors: due within one year
2023
2022
Charity repayment claim
79,924
462,007
13

WILLIAM WALTON AND LA MORTELLA TRUST
NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 31 Docember 2023
8. Crodftors: amounts falllng due wlthln one year
2023
2022
Accruals- Accountancy fees
8.136
8,136
9. Trustees. remuneration expenses and arrangements
No trustees were reimbursed for expenses during the year (2022". £nil).
No remuneration was received by any of the trustees. No trustee had any benefkial Interest
in any contr8Ct with the charity during the year.
10. Taxalion
William Walton and La Mortella Trust 1$ a registered charity and therefore. is not liable to
income tax or ￿)rpOratIOn tax on Inco￿ or gains derived from its charitable activities. as they
fall withn the various exemptions available to registered charities.
11. R•lated party disclosures
The three trustees are also trust885 of The William Walton TNst (registered charity number.
289605). During the year, the charity gave donations totslling £50,000 {2022: £nil} to The
William Walton Trust.
14