##
##
##
##
##
##
##
##
##
##
|`InvestmentType`|`Percentage`|
|---|---|
|
`Equities`|
`51%`|
|
`Bonds`|
`39%`
|
|
`Alternatives`|
`8%`
|
|
`Cash`|
`2%`
|
##
##
##
WALTER LEES FOUNDATION
ARe
istered Charit No. 1138935
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED TO 31ST OCTOBER 2022
31199151DRAFT covér shéÈi for
accounts- 4165-6435-3862
v.1.docxORAFT cover shtr81 for
actounis~ 4165-643Jf.3862
v.1.docxMiner4a House
5 Monl8gu& Close
London SE1 gBB
DX.. 156810 London Brldg8 6
Winckworth
Sherwood
Sollcltors and
Parflamentary Agent8
T 020 7593 5000
F 020 7593 S9
WW.W85aw.co.uk
WALTER LEES FOUNDATION
FINANCIAL STATEMENTS FOR THE YEAR ENDED
31ST OCTOBER 2022
CONTENTS
PAGE
REPORT TO THE TRUSTEES
REPORT OF THE INDEPENDENT EXAMINERS
GENERAL INFORMATION
FINANCIAL STATEMENTS
Notes to the Financial Statements
Balance Sheet
Stalement of Financial Aclivities
Capital Account
Income Account
Schedule of Creditors
10
Schedule of Stocks and Shares
WALTER LEES FOUNDATION
REPORT TO THE TRUSTEES
We have prepared the financial statements set out on pages 5 to 22 from the records
of the Trust maintained by us.
As at 31st October 2022 the total market value ofthe securities was £2,074,565
(including capital cash of £22,037) compared to £2,597,304.98 (including capital cash
of £63,010) as at 31st October 2021.
The income received for the period to 31sl October 2022, was £43,626.72.
Under Section 145111 of the Charities Act 2011 the trustees may elect either'.-
(a)
to have the accounts examined by an independent examiner., or
{b)
to have Ihe accounts audited by a person qualified under the definition
contained in Section 144 (21 of the said Act.
The trustees have elected to appoint Newton & Garner Limited, chartered accountants,
as independent examiners to review the accounts in accordance with the above provisions.
and their report is contained in these financial statemenls.
WINCKWORTH SHERWOOD LLP
DATED
WALTER LEES FOUNDATION
CHARITY NO. 1138935
YEAR ENDED 31ST OCTOBER 2022
INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF WALTER LEES FOUNDATION
I report lo the trustees on my examination of the accounts of the above charity {"the Trust") for
the year ended 31" Oclober2022, which are set out on pages 5 to 22.
Res
onsibilities and basis of re
ort
As the charity's trustees, you are responsible for the preparation of the accounts in accordance
with the requirements of the Charities Act 2011 {"Ihe Act").
I report in respect of my examination of the Trust's accounts carried out under section 145 of the
2011 Act and in carrying out my examination, I have followed all the applicable Directions given
by the Charity Commission under section 14515llbl of the Act.
Inde
endent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention
in connection with the which gives me cause lo believe that in, any material respect..
the accounting records were not kept in accordance with section 130 of the Charities Act- or
the accounts did not accord with the accounting records.. or
the accounts did not comply with the applicable requirements conceming 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 olher mallers in conneclion with the examination
to which allenlion should be drawn in this report in order to enable a proper understanding of the
accounts lo be reached.
Robert Knight FCCA ATII
Newton & Garner Limited
Chartered Accounlants
BUILDING 2
30 FRIERN PARK
NORTH FINCHLEY
LONDON
N12 9DA
DATE: 1ts4K 2023
WALTER LEES FOUNDATION
GENERAL INFORMATION
TESTATOR..
Walter Chades Lees
TRUSTEES:
Roderick Hugh Alexander MacDougald {appointed by will - 30.01.20101
Gerald Richard Ornslein18ppointed by will - 30.01.20101
steven Paul Frost (appointed by deed 01.11.20171
24th March 2005
DATE OF WILL..
DATE OF DEATH:
30th January 2010
16th July 2010
PROBATE GRANTED:
TERMS..
Following the death of Waller Charles Lees his eslale was administered by
his exe¢ulors who were the same persons as the trustees of the Walter
Lees Foundation. The adminislralion of the estate was completed on 20
December 2011 although there had been a cash distribution to the
trustees in August 2011 and the residential property, Flat 3. 48 Pimlico
Road, London SW1W (the former home of the deceased) had been
assented to the trustees in June 2011 and then let. (The property was
eventually sold on 27 February 2019.1 Challels that had belonged to the
deceased were sold by the trustees during the adminislralion period.The
goveming document of the Walter Lees Foundation is the will of the
deceased dated 24 March 2005 and, inter alia, il stales that..
A. The Trustees should hold capital and income of the trust fund upon trust
to apply the income and all or such part or parts of the capit21 at such lime
or times and in such manner to or for the benefit of such exclusively
charitable objects and purposes in any part of the world as the trustees
may in their discretion think fit. Ch2rllable was defined to mean ch8ritab18
according to the law of England and Wales.
B.The Iruslees were given wide ranging investment powers under the
terms of the Will. The powers state that the trustees are not under a duty
lo diversify investments and Ihal the trustees may invest any part of the
Trust Fund in any way in which any part of the eslale w88 invested at the
lime of death.
C.The will gave the trustees power lo appoint an investment adviser and to
delegate investment management.
D.The trustees were directed lo hold at least one meeting in each calendar
year and that two trustees would form a quorum.
E.The trustees were given power lo establish funds for particular purposes
or to maintain reserves.
SOLICITORS..
Winckworth Sherwood LLP
Minerva House
5 Monlague Close
London SE1 9BB
WALTER LEES FOUNDATION
GENERAL INFORMATION
STOCKBROKERS..
EFG Private Bank Ltd
Park House
116 Park Street
London
W1K 6AP
WALTER LEES FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31ST OCTOBER 2022
ACCOUNTING POLICIES
Basis of Pre
aration
The fsnancial slalements have been prepared 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 IFRS 102) leffeclive 1 January 20151- (Charities SORP IFRS 102)), the Financial
Reporting Standard applicable in the UK and Republic of Ireland IFRS 102).
The trust conslilules a public benefit entity as defined by FRS 102. The trustees consider that
there are no material uncertainties about the Irusl's ability lo continue as a going concern.
Reconciliation with
revious Generall Acce
ted Accountin
Practice
In preparing the accounts the trustees have considered whether in applying the accounting
policies reqUId by FRS102 and the Charities SORP FRS102 a restatement of comparative
items was needed. No restatement is required.
Income Re¢0
nition
All income is recognised once the charity has enlillement lo the income, il is probable that th8
income wll be received and the amount of income receivable can be measured reliably.
Interest on funds held on deposit is included when receivable 2nd the amount can be measured
reliably by the charity, this is normally upon notification of the interest paid or payable by the
bank. Dividends are recognised once the dividend has been declared and notification has been
reiVed of the dividend due. This is nomially upon notification by our investment advisor of the
dividend yield of the investment portfolio.
enditure reco
nilion
Liabilities are recognised as expenditure as soon as there is a legal or Constructive obligation
committing the charity to that expenditure, it is probable that settlement will be required and the
amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis.
2. Investments
Investments are a fomi of basic financial instrument and are initially recognised at their
transaction value and subsequently measured al their fair value as al the balance sheet date
using the closing quoted market price. The statement of financial activities includes the net
gains and losses arising on revaluation and disposals throughout the year.
The trust does not acquire put options, derivatives or other complex financial inslrumenls. The
main form of financial risk faced by the ¢harity is that of volatility in equity markets and
nvestment markets due to wider economic conditions, the attitude of inveslors to
investment risk, and changes in sentiment concerning equities and within particular
sectors or sub sectors.
Realised
ains and losses
All gains and losses are taken lo the Statement of Financi81 Activities as they arise.
Realised gains and losses on investments are calculated as the differen between sales
proceeds and their opening carying value or their purchase value if acquired subsequenl
to the first day of the financial year. Unrealised gains and losses are calculated as the
difference beeen the fair value at the year end and their carrying value. Realised and
unrealised investment gains and losses are combined in the Statement of Financial
Activities
WINCKWORTH SHERWOOD LLP
DATE
WALTER LEES FOUNDATION
BALANCE SHEET
AS AT 31ST OCTOBER 2022
2022
2021
Stocks and shares
2,052,527.91
2,534,295.03
Income cash held by Winckworth SheNood
3,318.26
6,733.82
Capital Cash held by EFG
22,037.55
50,050.20
Income cash held by EFG
14,301.93
12.959.75
Less:_
Creditors- per schedule on page 10
(6,705.24)
(13,884.96)
£2,085,480.41 £2,590,153.84
This is represented by:_
CAPITAL ACCOUNT (Page 81
2,089.774.98
2,581,880.13
INCOME ACCOUNT (Page 9)
{4,294.57)
8,273.71
£2,085,480.41 £2,590,153.84
l approve the accounts of the Trust in respect of the year ended
31st October 2022 as set out on pages 6 to 22 on behalf of all Trustees.
Roderick Hugh Alex
nder MacDougald
WALTER LEES FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED
31ST OCTOBER 2022
2D22
Total Funds
2021
Income and Ex
enditure
Ca
Income
Incomin
resources
Inv8slment income
Gross Interest
0.00
0.00
43,590.67
36.05
43,590.67
36.05
42,599.47
0.00
Total incoming resources
0.00
43 626.72
43 826.72
42.599.47
Resources used
Direct charitable ex
Grants
Adminislralion costs
endilure
o.oo
56,178.51
50.000.00
6,195.00
50.000.00
62,373.51
50,000.00
64,580.52
Total resources used
Nel incomin
out
oin
for the
ear
56 178.51
56 195.00
112 373.51
114 580.52
rasources
156.178.511
112,568.281
168,746.791
171,981.051
Other r8CO
nised
ains and losses
Gains and losses on inveslments'.-
Realised
Unrealised
Nel movement in funds
(238,696.54)
197230.10
(492,105.151
0.00
0.00
112,568.281
(238,696.541
197230.10
{504.673.43}
11,694.121
327.110.76
253,435.59
Balances brought forward al
1st November 2021
2,581,880.13
8.273.71
2,590,153.84
2.336.718.25
Balances carried fOard al
31st October 2022
£2.089 774.98
£4,294.57
£2.085.480.41
£2,590,153.84
WALTER LEES FOUNDATION
CAPITAL ACCOUNT
YEAR ENDED 31ST OCTOBER 2022
2022
2021
Balance brought fOard as at 1st November 2021
2,581.880.13
2,314,243.38
Add:_
Proceeds from sale of painting from the estate of
Walter Lees deceased
0.00
4.40
Loss on sale of stocks and shares
{161,313.211
3,716.90
Revaluation of stocks and shares
(197,230.10)
327,110.76
FWD.. USD vs. GBP
FWD.. HKD vs. GBP
178,180.98)
797.65
18,329.891
{50.711
EFG- Reimbursement
0.00
2,965.18
2,145.953.49
2,639,660.02
Less:.
EFG Management fees
23,743.92
24,938.45
VAT thereon
4,748.79
4,987.69
Fisher Phillips
6,000.00
4,800.00
VAT Ihereon
1,200.00
960.00
Legal. accountancy, taxation and
administration charges and disbursements
15,487.50
17,001.56
VAT Ihereon
3,097.50
3,400.31
Disbursements
234.00
159.90
VAT Iheron
46.80
31.98
Newion & Garner independent examination fees
1,350.00
1,250.00
VAT Ihereon
270.00
250.00
Balance carried foNard at 31st October 2022
£2,089,774.98 £2,581,880.13
WALTER LEES FOUNDATION
INCOME ACCOUNT
YEAR ENDED 31ST OCTOBER 2022
2022
2021
Balance brought forward as at 1 st November 2021
8,273.71
22,474.87
Dividends and interest
40,964.43
42,599.47
Scrip Dividend- Woodside Energy
2,626.24
0.00
Gross interest
36.05
0.00
51,900.43
65,074.34
Less'.-
Grants to'.-
Time Out Group
Climbing Out
Bels Brucha
Sunny Days Children's Fund
Clapton Support and Advice
Support for All
Listening Books
Cerebral Palsy Plus
Crisis UK
5,OQO.00
5,000.00
5,000.00
5,000.00
5,000.00
5,000.00
5,000.00
5,000.00
5,000.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
5,000.00
k 11
British Liver Trust
Two Pennies Money Advice
SPACE CIO
Refreshing Minds
Pauls Cancer Support Centre
Fenland Black Oak CIO
Lev Echod Cancer Care
All in Sound
The Royal School for the Blind
5,000.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
5,000.00
5,000.00
5,000.00
5,000.00
5.000.00
5,000.00
5,000.00
5,000.00
5,000.00
Legal, accountancy, taxation and
administration charges
5,162.50
5,667.19
VAT thereon
1,032.50
1,133.44
Balance carried forward as al 31st Oclober 2022
£4 294.57
£8,273.71
WALTER LEES FOUNDATION
SCHEDULE OF CREDITORS
AS AT 31ST OCTOBER 2022
Newton & Garner independent examination fees
1,350.00
VAT thereon
270.00
Winckworth Sherwood LLP
4,237.70
VAT Ihereon
847.54
EFG Management Fees
0.00
VAT Ihereon
0.00
£6,705.24
10
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WALTER LEES FOUNDATION
ARe
istered Charit No. 1138935
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED TO 31ST OCTOBER 2022
31199151DRAFT covér shéÈi for
accounts- 4165-6435-3862
v.1.docxORAFT cover shtr81 for
actounis~ 4165-643Jf.3862
v.1.docxMiner4a House
5 Monl8gu& Close
London SE1 gBB
DX.. 156810 London Brldg8 6
Winckworth
Sherwood
Sollcltors and
Parflamentary Agent8
T 020 7593 5000
F 020 7593 S9
WW.W85aw.co.uk
WALTER LEES FOUNDATION
FINANCIAL STATEMENTS FOR THE YEAR ENDED
31ST OCTOBER 2022
CONTENTS
PAGE
REPORT TO THE TRUSTEES
REPORT OF THE INDEPENDENT EXAMINERS
GENERAL INFORMATION
FINANCIAL STATEMENTS
Notes to the Financial Statements
Balance Sheet
Stalement of Financial Aclivities
Capital Account
Income Account
Schedule of Creditors
10
Schedule of Stocks and Shares
WALTER LEES FOUNDATION
REPORT TO THE TRUSTEES
We have prepared the financial statements set out on pages 5 to 22 from the records
of the Trust maintained by us.
As at 31st October 2022 the total market value ofthe securities was £2,074,565
(including capital cash of £22,037) compared to £2,597,304.98 (including capital cash
of £63,010) as at 31st October 2021.
The income received for the period to 31sl October 2022, was £43,626.72.
Under Section 145111 of the Charities Act 2011 the trustees may elect either'.-
(a)
to have the accounts examined by an independent examiner., or
{b)
to have Ihe accounts audited by a person qualified under the definition
contained in Section 144 (21 of the said Act.
The trustees have elected to appoint Newton & Garner Limited, chartered accountants,
as independent examiners to review the accounts in accordance with the above provisions.
and their report is contained in these financial statemenls.
WINCKWORTH SHERWOOD LLP
DATED
WALTER LEES FOUNDATION
CHARITY NO. 1138935
YEAR ENDED 31ST OCTOBER 2022
INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF WALTER LEES FOUNDATION
I report lo the trustees on my examination of the accounts of the above charity {"the Trust") for
the year ended 31" Oclober2022, which are set out on pages 5 to 22.
Res
onsibilities and basis of re
ort
As the charity's trustees, you are responsible for the preparation of the accounts in accordance
with the requirements of the Charities Act 2011 {"Ihe Act").
I report in respect of my examination of the Trust's accounts carried out under section 145 of the
2011 Act and in carrying out my examination, I have followed all the applicable Directions given
by the Charity Commission under section 14515llbl of the Act.
Inde
endent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention
in connection with the which gives me cause lo believe that in, any material respect..
the accounting records were not kept in accordance with section 130 of the Charities Act- or
the accounts did not accord with the accounting records.. or
the accounts did not comply with the applicable requirements conceming 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 olher mallers in conneclion with the examination
to which allenlion should be drawn in this report in order to enable a proper understanding of the
accounts lo be reached.
Robert Knight FCCA ATII
Newton & Garner Limited
Chartered Accounlants
BUILDING 2
30 FRIERN PARK
NORTH FINCHLEY
LONDON
N12 9DA
DATE: 1ts4K 2023
WALTER LEES FOUNDATION
GENERAL INFORMATION
TESTATOR..
Walter Chades Lees
TRUSTEES:
Roderick Hugh Alexander MacDougald {appointed by will - 30.01.20101
Gerald Richard Ornslein18ppointed by will - 30.01.20101
steven Paul Frost (appointed by deed 01.11.20171
24th March 2005
DATE OF WILL..
DATE OF DEATH:
30th January 2010
16th July 2010
PROBATE GRANTED:
TERMS..
Following the death of Waller Charles Lees his eslale was administered by
his exe¢ulors who were the same persons as the trustees of the Walter
Lees Foundation. The adminislralion of the estate was completed on 20
December 2011 although there had been a cash distribution to the
trustees in August 2011 and the residential property, Flat 3. 48 Pimlico
Road, London SW1W (the former home of the deceased) had been
assented to the trustees in June 2011 and then let. (The property was
eventually sold on 27 February 2019.1 Challels that had belonged to the
deceased were sold by the trustees during the adminislralion period.The
goveming document of the Walter Lees Foundation is the will of the
deceased dated 24 March 2005 and, inter alia, il stales that..
A. The Trustees should hold capital and income of the trust fund upon trust
to apply the income and all or such part or parts of the capit21 at such lime
or times and in such manner to or for the benefit of such exclusively
charitable objects and purposes in any part of the world as the trustees
may in their discretion think fit. Ch2rllable was defined to mean ch8ritab18
according to the law of England and Wales.
B.The Iruslees were given wide ranging investment powers under the
terms of the Will. The powers state that the trustees are not under a duty
lo diversify investments and Ihal the trustees may invest any part of the
Trust Fund in any way in which any part of the eslale w88 invested at the
lime of death.
C.The will gave the trustees power lo appoint an investment adviser and to
delegate investment management.
D.The trustees were directed lo hold at least one meeting in each calendar
year and that two trustees would form a quorum.
E.The trustees were given power lo establish funds for particular purposes
or to maintain reserves.
SOLICITORS..
Winckworth Sherwood LLP
Minerva House
5 Monlague Close
London SE1 9BB
WALTER LEES FOUNDATION
GENERAL INFORMATION
STOCKBROKERS..
EFG Private Bank Ltd
Park House
116 Park Street
London
W1K 6AP
WALTER LEES FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31ST OCTOBER 2022
ACCOUNTING POLICIES
Basis of Pre
aration
The fsnancial slalements have been prepared 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 IFRS 102) leffeclive 1 January 20151- (Charities SORP IFRS 102)), the Financial
Reporting Standard applicable in the UK and Republic of Ireland IFRS 102).
The trust conslilules a public benefit entity as defined by FRS 102. The trustees consider that
there are no material uncertainties about the Irusl's ability lo continue as a going concern.
Reconciliation with
revious Generall Acce
ted Accountin
Practice
In preparing the accounts the trustees have considered whether in applying the accounting
policies reqUId by FRS102 and the Charities SORP FRS102 a restatement of comparative
items was needed. No restatement is required.
Income Re¢0
nition
All income is recognised once the charity has enlillement lo the income, il is probable that th8
income wll be received and the amount of income receivable can be measured reliably.
Interest on funds held on deposit is included when receivable 2nd the amount can be measured
reliably by the charity, this is normally upon notification of the interest paid or payable by the
bank. Dividends are recognised once the dividend has been declared and notification has been
reiVed of the dividend due. This is nomially upon notification by our investment advisor of the
dividend yield of the investment portfolio.
enditure reco
nilion
Liabilities are recognised as expenditure as soon as there is a legal or Constructive obligation
committing the charity to that expenditure, it is probable that settlement will be required and the
amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis.
2. Investments
Investments are a fomi of basic financial instrument and are initially recognised at their
transaction value and subsequently measured al their fair value as al the balance sheet date
using the closing quoted market price. The statement of financial activities includes the net
gains and losses arising on revaluation and disposals throughout the year.
The trust does not acquire put options, derivatives or other complex financial inslrumenls. The
main form of financial risk faced by the ¢harity is that of volatility in equity markets and
nvestment markets due to wider economic conditions, the attitude of inveslors to
investment risk, and changes in sentiment concerning equities and within particular
sectors or sub sectors.
Realised
ains and losses
All gains and losses are taken lo the Statement of Financi81 Activities as they arise.
Realised gains and losses on investments are calculated as the differen between sales
proceeds and their opening carying value or their purchase value if acquired subsequenl
to the first day of the financial year. Unrealised gains and losses are calculated as the
difference beeen the fair value at the year end and their carrying value. Realised and
unrealised investment gains and losses are combined in the Statement of Financial
Activities
WINCKWORTH SHERWOOD LLP
DATE
WALTER LEES FOUNDATION
BALANCE SHEET
AS AT 31ST OCTOBER 2022
2022
2021
Stocks and shares
2,052,527.91
2,534,295.03
Income cash held by Winckworth SheNood
3,318.26
6,733.82
Capital Cash held by EFG
22,037.55
50,050.20
Income cash held by EFG
14,301.93
12.959.75
Less:_
Creditors- per schedule on page 10
(6,705.24)
(13,884.96)
£2,085,480.41 £2,590,153.84
This is represented by:_
CAPITAL ACCOUNT (Page 81
2,089.774.98
2,581,880.13
INCOME ACCOUNT (Page 9)
{4,294.57)
8,273.71
£2,085,480.41 £2,590,153.84
l approve the accounts of the Trust in respect of the year ended
31st October 2022 as set out on pages 6 to 22 on behalf of all Trustees.
Roderick Hugh Alex
nder MacDougald
WALTER LEES FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED
31ST OCTOBER 2022
2D22
Total Funds
2021
Income and Ex
enditure
Ca
Income
Incomin
resources
Inv8slment income
Gross Interest
0.00
0.00
43,590.67
36.05
43,590.67
36.05
42,599.47
0.00
Total incoming resources
0.00
43 626.72
43 826.72
42.599.47
Resources used
Direct charitable ex
Grants
Adminislralion costs
endilure
o.oo
56,178.51
50.000.00
6,195.00
50.000.00
62,373.51
50,000.00
64,580.52
Total resources used
Nel incomin
out
oin
for the
ear
56 178.51
56 195.00
112 373.51
114 580.52
rasources
156.178.511
112,568.281
168,746.791
171,981.051
Other r8CO
nised
ains and losses
Gains and losses on inveslments'.-
Realised
Unrealised
Nel movement in funds
(238,696.54)
197230.10
(492,105.151
0.00
0.00
112,568.281
(238,696.541
197230.10
{504.673.43}
11,694.121
327.110.76
253,435.59
Balances brought forward al
1st November 2021
2,581,880.13
8.273.71
2,590,153.84
2.336.718.25
Balances carried fOard al
31st October 2022
£2.089 774.98
£4,294.57
£2.085.480.41
£2,590,153.84
WALTER LEES FOUNDATION
CAPITAL ACCOUNT
YEAR ENDED 31ST OCTOBER 2022
2022
2021
Balance brought fOard as at 1st November 2021
2,581.880.13
2,314,243.38
Add:_
Proceeds from sale of painting from the estate of
Walter Lees deceased
0.00
4.40
Loss on sale of stocks and shares
{161,313.211
3,716.90
Revaluation of stocks and shares
(197,230.10)
327,110.76
FWD.. USD vs. GBP
FWD.. HKD vs. GBP
178,180.98)
797.65
18,329.891
{50.711
EFG- Reimbursement
0.00
2,965.18
2,145.953.49
2,639,660.02
Less:.
EFG Management fees
23,743.92
24,938.45
VAT thereon
4,748.79
4,987.69
Fisher Phillips
6,000.00
4,800.00
VAT Ihereon
1,200.00
960.00
Legal. accountancy, taxation and
administration charges and disbursements
15,487.50
17,001.56
VAT Ihereon
3,097.50
3,400.31
Disbursements
234.00
159.90
VAT Iheron
46.80
31.98
Newion & Garner independent examination fees
1,350.00
1,250.00
VAT Ihereon
270.00
250.00
Balance carried foNard at 31st October 2022
£2,089,774.98 £2,581,880.13
WALTER LEES FOUNDATION
INCOME ACCOUNT
YEAR ENDED 31ST OCTOBER 2022
2022
2021
Balance brought forward as at 1 st November 2021
8,273.71
22,474.87
Dividends and interest
40,964.43
42,599.47
Scrip Dividend- Woodside Energy
2,626.24
0.00
Gross interest
36.05
0.00
51,900.43
65,074.34
Less'.-
Grants to'.-
Time Out Group
Climbing Out
Bels Brucha
Sunny Days Children's Fund
Clapton Support and Advice
Support for All
Listening Books
Cerebral Palsy Plus
Crisis UK
5,OQO.00
5,000.00
5,000.00
5,000.00
5,000.00
5,000.00
5,000.00
5,000.00
5,000.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
5,000.00
k 11
British Liver Trust
Two Pennies Money Advice
SPACE CIO
Refreshing Minds
Pauls Cancer Support Centre
Fenland Black Oak CIO
Lev Echod Cancer Care
All in Sound
The Royal School for the Blind
5,000.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
5,000.00
5,000.00
5,000.00
5,000.00
5.000.00
5,000.00
5,000.00
5,000.00
5,000.00
Legal, accountancy, taxation and
administration charges
5,162.50
5,667.19
VAT thereon
1,032.50
1,133.44
Balance carried forward as al 31st Oclober 2022
£4 294.57
£8,273.71
WALTER LEES FOUNDATION
SCHEDULE OF CREDITORS
AS AT 31ST OCTOBER 2022
Newton & Garner independent examination fees
1,350.00
VAT thereon
270.00
Winckworth Sherwood LLP
4,237.70
VAT Ihereon
847.54
EFG Management Fees
0.00
VAT Ihereon
0.00
£6,705.24
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