CHAFirrY REGisfRATION NUM8ER: 1140914 WRA CHARITABLE TRUST Unaudited Financial Statements 31 March 2024 Chartered accountants Yoth House 1 Seagrave Road London SW61RP
WRA CHARITABLE TRUST Financlal Statements Year ended 31 March 2024 Pages Trustees, annual report Independenl examinerfs report lo the trustees Slatement of financial activities 1104 Statement of financial position Statement of cash Ilows Notes to the financial statements 9t014
WRA CHARITABLE TRUST TNstees' Annual Report Year ended 31 March 2024 The Iwsiees present their ar thè unaLMfrt&J financi stat8m8nts ol the charity for thè year er>ded 31 March 2024. Referwce and athnlnlstratfve detrlls Reglstered charlty name WRA CTrIARITABLE TRUST Charlty r•glstrntlon number 114(P314 Prlnclpol offlce SWS OAQ Tho Iruslee8 ARAswty L Asprey Wydtts Chartered acowntsnts York Fk)use 1 Seagrave RoJ SW61RP Structuro. governan and mgnI WRA Charitable TrLt is a registered charity t1 Charhy Commiswin th8 Charilles Act 2011 number 1140914. New trustees a appoinled by the existing trustees arAJ serve for five arS after they may rwt themsefves loAvard for re.appJinlrnent. The TrLLsI Deed provijes for a minimum of 3 InJsle8S. Trustees meet or ¢orreswrKI on a rggular trmis. mir drafted arbj eXuled by the trustees to supp)rt decisk)ns made. In Cona wth charity [M)Iy, on joiniTh3 trt t)ard. Trustees must lare any inherenl thal may ¢onflieA wlth iheir atslty lo act ar4)rq)Fiately in their r(* as Tr.
WRA CHARITABLE TRUST Trustees. Annual Report Year ended 31 March 2024 Oblectlves and a¢tlvhles The prirKiple o'ectNes ot WFL4 ChwTfaile Trust is to relEt to those in need, by reason ol yOLrth. age. ill-healih, disilty. financial hardship or other thsadvantage. Also to promote wellare for the amtd torces of the crown I1j assislar¢e to ex.serVg Fersffind aror their families. Furthermore, to advance awareness aNI fv &JLtiOn of those invow in managing the counlrysKI8 of the need lor the thije FKeservthn of ts countryside and country Srbn9 pursuits. The Truslee$ have referred lo the Charity ComrnisKin's general gubjance on public knefft and believe that the charrty meets the requirements ol beneftt with regard lo ils aims and objectives and in annIng its future athiwites. In partiCLdar. the Trustees have how the plann&J actNities will coniribuie to the &ms arbj (.¢¢teS tlw have set. hlevements wforni4w8 The results lor the pefKxI and the charivs ffinarKi pxition at the period end are shovm in the attached finala1 ststemenis. charity is Still in the prsS of bdIng reserves 50 as to be in a positrjn to donaie kqrger amounts in the fure The Charity has a Wedth Enhan¢ement Invment Portt01 Thich aims lo grow the real value of the Charivs initial invesiment over a five to eight Jear time IKJrizon. lls cfyectNes are to.. - Target relurns that come close to those aVaile frcmn the UK ewty markets Ixrt th a low risk.- Control investment risk throLKJh effective portldio st1re arKI dwersiftI)n.- Manage wweslment returns and riths in the context of the UK economy aThJ UK fInala1 markets. Fln•Klal revlèw During the year WRA ChaiitJe Tru receiv&J £46,417 (20r3". f37,2051 ift investment ir¢ome and £233,13912023: £95,462 Lossl as UnreISed gain on irwestrnenl Portlolio. - Investment management costs £10.199120fJ: £10,C() - charite xbvities £16,200 (20f3: £10.5(KJI - Governance cost-Bank lees £36612023.. £125) Chjring the year ihe Charity received more than 2012022.. 201 aFp1KatjnS for grants aThJ donations and 912022.. 61 were successful and charity d(yiat8d £16.200 I20¥d.' £10,5(K)I The charity has a net asset positÈon and the trustees have ensur1 appyopriate systems are in Flace to control income arJ expeIkture io safeguard assets of the charty. Plan8 lor future perfod8 The trustees. lan for the charity is to te in a Str firArtial position lo be abbe to meet its obieclives and take thanlage of any orwrtwities as tw arise.
WRA CHARITABLE TRUST Trustees. Annual Report It4 Year ended 31 March 2024 Rlsk management principle risks laced by the Trust lie in Ihe performarte of inveslmenls and f4)eralbnal risks frorn ineffeclive grant making ar•J the capaw of Ihe Trust make eff&iNe grants. Iruste8s consider variatshty of investment r8ttKns on the weath enhancement investment wrtfollo to consDiule the chty$ major financial ith. This is mitigat&J by retwniffj expert investmenl managers haviw a dNersFfied investrnent tthlolio. truees manage the wealth enhancement investrneni p)rtlolio on a total return basis. havirrfj (4A&ned an Crder from the Charity Commissn. The trustee5 considgr that the use of a total retum aFvoxh W 5tabifise th8 resources avalle for grant making. Resarv85 pollcy The truslees aim lo mainta¥i free reserves in unrestricted futts ai a Èvel which equates to 8pproximatety three rnonlhs of unrestriclgj charilth eXpelIttlre. The trustees CO18r that this levd ill prowde sufficient luNls to resrond 10 aFF4icalions for grants arvj ensure that supwrt and governance Costs are cover&J. The trustee$ ¢MsidÈr Ihai a level of 6 months is suffioenl given the flexibility affoided by Ihe lotd retum approach towards the investment of the investment wrtldio. Events after the and of Il rowltw wrknd TNstee8' responslbillJe8 Statement The trUe8$ are resFortsible for preparirb3 the trusle8s' reFQrt and Ihe finanual statements in accordance Mth ape law aTvJ United lQngdom AcCnthg &andards (United Kingdom Generally Accepted Accwnling Pwtice). The law applcable to tharities in EnglaTrJ arNI Wales re1$ ts Charity trteeS to Fyepare linancial staiements for each year whith give a true aThJ faw view of the state of affairs of the charity and of the incoming resources arwj aFF4icalk)n ol res0ceS. of tr charity tor that pgriod. In preONJ these tinancial statemenls. the tsee$ are rewired lo: seleu $uif&ie accwnlirwJ w19eS aThl then aFWy Ihem consistenily," obser¥e meth)ds )rtiples in tr¢ 4¥4Kable Charftss SORP: make 1MentS accountiro estimates that are reasabl@ arKI prudent; stale whether apT)Itab18 UK AccfxJnlirvJ &arNJards have been foVthEd. SLknJ"ect to any material dylu$ disclosed arrfl exaIn in the tinaal stalements,. prepare the finarla1 slalements the wiro corwn basis unless il is inwopriate to presume Ihal Ihe charity wryll contiwe in twsiness. The Irustees are resFnnsible for keepiThJ adeye a¢counting records that are sullicient to show and ewain the charitys transactions and (Asckjse %ryth reasonat4e accuracy al any time the financial position ol ihe charity aThJ ene them to ensure th* ihe financi statements cOmY with the Charities Act 2011. the applicable Ch&ities IA¢¢wnts ReFQrtsl Regulations. amj thè provisions of the Trusi Deed. They are dso SnSIte lor safeguardir#J the assets of the ChrtY and hence for taking r&aSone steps for the wwention ar deteCn of fraLMI aNI other irr•3ularili8S.
WRA CHARITABLE TRUST TrUe08, Annual Report Year ended 31 March 2024 The trustees. annu reFQrt vras woveAJ on 12 Novert¢r 2024 a1 on beliatt of the board of trustees by.. W Asprey TnJsiee
WRA CHARITABLE TRUST Independent ExIner'S Report to Ihe Trustees of WRA CHARrrABLE TRUST Year ended 31 March 2024 I reFort lo the trustees on my examination of Ihe finarKial stalements of WRA CHARITABLE TRUST Ilhe chartyl for the year ended 31 March 2024. Responslbililes and basis of report As the Iwstees of the charity JThJ are re¥sIble for Ihe 1¥epaTr of the finarla1 statements in accordance Y•ilh the re(wir•))eni$ of the Charities Act 2011 Ilhe Acl'l. I report in respect of my examinati¢ of the chaiilY$ finanoal slalements carrd urKJer section 145 ol lh8 2011 ALt and in carng (t my examination I have fdluEd all Direclions given by the Charity Commission under Section 14515)Ibl of the Act. Independort examlnerfs slatement I have completed my examinati. I confirm trAt rK• materiaf matters have come to my attenlion in onnection wth the examination 19 me cause kn bdieve that in any material iespeet.. accounlirTra records were kety in res1 of the Charity as reqLwrgJ by section 130 of the the linancral statements th) rK)t xcord with tlw records; or the fwmncial staiemenls th) 1 (y)rn hith Ihe applth reqjiremenls corKwnlrwJ lom arKI conlenl ol accounis set t)ul in CharitS (A[untS Rrfyjrtsl Regulations 2008 Olher than any requirement that Ihe accounts gwe a YnJe aNJ wew which is Th)t a matter ¢on5idered as part of an wtyrthni examinat. I have no concems and have come acrogs no otrr matters in CneCtIon vrith examination to which attwtion sh¢JJhJ be drawTJ in Ihi5 rwt in (w(r to en*Ae a prcper urKlerstaTrJing ol the accounts lo be aChed. Karen Wyatt FCA lThJependeni Examiner York House I Seagrave RIHI London SW6 IRP
WRA CHARITABLE TRUST Statement of Flnan¢lal Actlvities Year ended 31 March 2024 2024 Unrestricted luThYs Total funds Total funds 2023 Note Income and endowm•nts Investment income 46.417 46.417 46.417 46,417 37,205 37,205 Total Irbcome ExpendIre Expenditure on raising funds- Investment management cosis ExperKJiture on charitable aclivilies Totsl expendlture 10,199 16.566 26.765 10,199 16.566 10.006 10,625 26,765 20,631 Nel gainsllbjssesl on inveslments Y33.139 233.139 195,4621 N•t IncomellexwKllture) •nd nol movemeDI in funds 252.791 252,791 178.8881 Recondllallon ot lunds Total lurKls brought forward Total funds ¢aThl8d torn¥d 1.Y8,144 2,200.935 1,948,144 2.200,935 2,027,032 1,948.144 The statem1 ol hnan¢ial activitw IKIeS au pns al bsses lenIse in ts year. All in¢ome atThJ exrenditure deriv8 from continLMry thlies. Th• on page• 9t0 14 pjrt ol tAMn¢io1 stst•mnts.
WRA CHARITABLE TRUST ststement of Flnanclal Posltkjn 31 March 2024 2023 Flxed ass Investments 12 2.097,357 1,829.380 CurIt assots Cash al bank and in hand 103,578 103.578 118.764 118,764 1,948,144 Totsl assets les8 current Ilablliles 2.2,935 Funds ofihe charfty Unrestrtcted funds 2.2.935 1,948,144 13 2.200,935 1,948,144 Total charlly lund8 These financFal slalements aF¥Jrowl by the tkwd of freBS aThJ aufvrised for issue on 12 November 2024. and are on behaw of t1 toard tty: Trustee
WRA CHARITABLE TRUST Staiement of Cash Flows Year ended 31 March 2024 2023 Cash flows from opratlng actlvlls Net incomellexpprKliturel 252.791 178,888) Nel gainsllk)ssesl on investh)ents Other interest receivable and similar income Interest payable and similar charges Cash generated Irom operations 1233,1391 146.417) 366 95,462 {37,2051 125 126.399) 120,5061 Interest paid lrnerest received (3661 11.579 (125} 10,924 19,707) Net cash Ld in cperatiro afAiwties 115.1861 Net dKreaAe In cash and ¢ash equl¥alenl8 Cash and cash equlvalents at beglnnlng of ywr Cosh and ¢ash equlvalents at •nd of year 115.186} 118,764 103.578 19.7071 128.471 118,764 Th• nDl•s on p•Je• 9t0 14 fomi part d th•se fiwndal st•tem••it
WRA CHARITABLE TRUST Notes to the Flnanclal Slatements Year ended 31 March 2024 General Infommllon The charity is a wblic benefit entity ar a registered charity in England aTrJ Wales and is unineorporaled. The athess of the wincppal offu is 26E Botton Gardens, LO10, SW5 OAQ. statr of eompllan These finaneial statements ha been prepa in complarre with FRS 102. The Financl Repor0 Standard aFpliCae in the UK aThY the ReputAic ol Ir81arwJ', the Statement of Recommend Prac& lo charities weparing the accounts in acCordae th the Finanud ReportiNJ StarKlard applKabJe in the UK aThJ Rewblic of Ireland (FRS 1021 (Charities SORP (FRS 10211 arKI the Charilies PLt 2011. & Accourthg polkles Basls of prnpayatlon The financial statsrnents have Krywe(J the Nork81 ¢0 basi8, as modrfied by the revaluatn ot certain financial assets aThJ and investment properties measured at fair value through income or exFWKliure. The finala1 statemems affj wepared in sterkng. wlmch is the lunc110n Curre ol the entty. Golng concern There are no maiwial urtnileS charitys ablty to continue. Judgements and key of eStknaI ertaInty The preparation of the s&ements re(wwes management 10 make judgements. estimates and assumptions that atte the amowts reported. These estimates and judgements are continually ffjviehyed aThJ are basJ on erIenCe and other factors, ithAng eyciations ol future 8vents that are belieNd lo be reasonatle urthr the ¢ruNnstsnces. Fund a¢¢ountlng UNestrted funds are avalable for use al t1 of the trlee5 lo further any of the ¢hariVs purp)ses. DesJnaled funds are Unrestsed frJnds eamarw ty tr Irusiees for partlar fLrture project or commltmenl. ReStrted lunds are subiecred to restrN)n$ on their exFdIlre declared ty the donor or through the ierms ol an appeaL and Idl into one ot SdaSses. regtricted income funds or ethment luTrJs.
WRA CHARITABLE TRUST Notes to the Financlal Statements (Wilkdj Year ended 31 March 2024 & A¢¢ountkng pollcles Incomlng ro8our¢ All incc¥ning resources are in¢lud&J in the statement of financi activibes wn entitlement has passed lo the charity: il is probable that tr e¢womK benefits ass0ua1j wilh the frnnsacn wll flow to the charity arKI Ihe amouni can be relHbly measur& The foll1 ycilic Fdicies are aFWied to PartUlar categories of income: ccrfne from donalions or grants s rwBed tAtsn Ihere is eVNj ot enirtlemI to the gift, recept is probat4e aThJ its amouni can be measured relobly. ga¢y income is recaJgThs•J Ththen rwt is Wable entilemenl is 8Stablished. incorne from donated gooJs is measured at th8 fair ¥e of the goods unless this is imprxticd to measure rdiabty. in Wh case the walu8 dwiv&J from the cost to the donty or the ¢stimated resale value. D(ted laeilities a1 seNi¢es are rec))gnised in accounis when received rf the vakje Can be lthY measured. amounts are inckKled tor the contriblon ol genwd wAwrteets. iicome from C(traCts ftv ts SUF4 of ser¥Kes is recTr3nised with the d8lvery of the contracted seNtt. This 1$ ¢lasstW as unrestricted luThJs unless there is a ¢onlraclu requirement lor it to t SP8nl on a partIlar wrpose arKI relurned rf unspent, in which oase it may be regarded as restricted. Resourc•s •xpended Expenditure is recognised on an a¢¢wals basis as a habthty ts incurred. EXpealture any VAT canrb)t be luly rec0vw, arnl 15 clathed urthr adirS ol Ihe siatem&nt of financial actiwties to it relates: expenditure MsiTrJ funds indtths trte ¢osts of all ftnw5ing ¥IN1t, events, non charitable Irading acnvitw. artl the Sa of (knnat&l gcrtxjs. expeIre on charitabl& actNi1 Ind 1 costs iwred by a charity in undertakiryJ activities that lurther charrtatle aims lor ihe tenefit ol its ten81KIles. ind1r0 those supwrt costs aThJ $1$ relatiThJ to lfj grnae of the charity Wlrtiord ID charitable athities. other expenditu irKludes all exwMiure tt is neither relat to raising furts for the charity nor part of its exrmbthlure on charitable aclNilEs. All costs are )Cated io exrenthire categyies refleciiro the use ol tr resource. Direct costs attn7xrtat48 lo a single actswty are allc¢aièJ to Ihal aclivity. Sharecl costs are apwrtioned belween the altIeS they C(ribute to on a reasonalje. juslifi.able aThJ consi¢ni basis. Investments Unlisted equity investments are initialty reccrtcd * cost. aTrJ SLtse(•Jenty measured at falr value. If Iwr vJue ¢anrli be reablY measured. assets are measured al cost less impaim)ent. Listed investments are measured & far value 7A*h chaw fair value recTraThwJ in income or exp8NJiture.
WRA CHARITABLE TRUST k4oie8 to the Flnanclal statents Year ended 31 March 2024 A¢¢o(mtlng pollcles Impaknimt ol Ilxed assets A review lor irKli¢alors ol impwnnent is carried at each rewrting date, with the recovere amount being estimated where irKkntors exi8t. Where the carrylig vahje exceeds the r0Verable amount. the asset is impaired aecLYdingly. Pik)r imp&'rments are also revieed for FWitAe reversal at ea¢h reP1j date. For the wrse5 of impairment tesi#)g. when it i8 F¥)ssible to e51imate the recoverabte amouni of an Inthyhal asset. an eslimate is maje of the rerabl& amount of the $h- generating unit lo whi¢h the assa t¢brys. The cash-generatiro unil is the smallest identifiable group ol assets that incle$ the asset aThJ generates cash inllows that laTg81y irKlependpnt ol the cash infkws from other assets or groups of assets. FCY impawmert testirw3 of 9>xtrIl. the gcxwil ac¥]ir•J in a trminess e4)mtMnation is. from the acqulsltion date. Jlocaled lo each ol the wh-generatng units that are expEthed to tenelit from the synergtes ol combination. irres¥8 ol otri assets or liabilities ol the charity are asswjrd to those units. wèstsn¢nt Income Unffjslrthd Total Funds Urnesl Total Funds Funds 2024 Funds 2023 Bank interest rectyvable Olh8r irrterest weivaL4e 1,3 45,037 918 36287 918 36287 37,205 45,037 46.417 46.417 37,205 Investment mwg¢nwt costs unrestrad Total Funds Unrestricted Total Funds 24 Funds 2023 Investment managemert fees 10,199 10,199 10,¢))6 10,006 Expendllure on charflable a¢tlvilios by lurnl typ8 untred Total Funds UntrIcted Total Funds Fund5 2024 Funds 2023 Donath)n$ aThJ Grants port eosts 16.2(K) 16.200 366 10,gX) 125 10,500 125 16.566 16,586 10.625 10,625 11
WRA CHARITABLE TRUST Notes lo the Flnanclal Statements Year ended 31 March 2024 Expendlture on ¢hwitable actlvhle8 by a¢lfvlty type Grdnl ol acltwtses Surwl costs Tolal funds Toial luThJ 2024 2023 Dcrfwiions and Grants Governance ¢osts 16.2(Kl 16.200 10.500 125 16.2LK) 366 16.566 10,825 Analy8ls of grants 2023 Grants to Instltu15on$ Donations and Grants 16.2CKJ 10.500 Total granis 16,200 10.500 Not galn&lllosses) on In¥eslmenls Unrestrued Totsl Fynds Unrestricted Total Funds Funds 2(f24 Funds 2023 Gainsllh)ssesl other investment assets 233.139 233,139 {95.4621 (95.4621 11X Statt costs The average head count of em08$ (kniro tr year vras Nil {2023: Nir). No aM0Ye6 recaved ern1)Yee tr11 of more than £60.(bxI the sear12023.. Nill. 11. Trugt¢e remuner•tl(m and expenses No refflurrati or other benefits from emFtynenl vilh the charity or a relatsd 8ntity were re¢eNed by the trustees. -12-
WRA CHARITABLE TRUST Notes to the Flnancial Statements Year ended 31 March 2024 11 Investments Other Investment8 Cost or valuatlon At 1 Wil 2023 ALJtiTons Other movemerts 1.829.380 267,977 2,097.357 At 31 March 2024 Impalrn)ent At 1 2WJ and $1 U¢h 21Y24 Carrylng amourrt At 31 March 2024 2.097.357 1,829,380 Al 31 March 20fJ l investments are hekj at valualion. 13. Anatysls of charftable funds Unr8Strfcted fund• Gains aTrJ31 Mah 2W2 losses General funds 1.948,144 46.417 126.7651 233.139 2.2W.935 At Ga a1 31 March 202 losses 1 Awil 2022 I)me Experth" u Generd funds 2.027.032 37.205 120.631) 195.4621 1,948,144 -13-
WRA CHARITABLE TRUST Notes to the Flnancial Statements Year ended 31 IAarch 2024 14. An8tysis ol n•t as8ets between fund8 Un[estred Total Funds Funds 2024 Irbvestmerrts Current assets 2.097.357 103,578 2,200.935 2,097,357 103.578 Not assets 2.200,935 Unrestricted Total Funds Funds 2023 InVmentS Cwreth assets 1.829.380 1,829,380 118.764 118.764 1.948.144 1.948.144 15. Analy818 of chaNJag kn nel debt Ai 1 Apr 2023 Cash flow5 31 Mar 2024 Cash at bank ar#J in hand 118.764 115,186) 103,578 -14-