Company Number: 07951538
Registered in England
Charity NUm￿r. 1146851
THE NORTH WALL TRUST
REPORT AND ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2022
CONTENTS:
Truste88, Officers and Advisers
Trustees, Report
Independent Auditor's Report to the Trustees
Statemenl of Financial Activities
Balance Sheel
Notes to the Financial Statements
7-10
12
13-17

THE NORTH WALL TRUST
REPORT AND ACCOUNTS FOR THE YEAR ENDED
31 AUGUST 2022
TRUSTEES, OFFICERS AND ADVISERS
TRUSTEES AND DIRECTORS
The Twstees of tha Trust are the Dlreclors of the Company and have all served In office throughout
the period except where indicaleé. The Trustees are..
Mike Stanfiel¢Y
Nicholas Connaughton
Georgina Dennis
Louise Fawcett-Posada
George Howe (Fenton)
Kenneth MacRitchl8
Emeline Winston
OFFICERS
The current 0￿￿eT8, who served throughout the per5od except where Indicated, are..
Art18tic Directors
John Hoggarth and Rla Parry
Company S8cretsry
Edward Hayler
PRINCIPAL ADDRESS
Woodstock Road, Oxford, OX2 7NN
Webslte address.. htlps'.//www.Ih8northwall.com
ADVISERS
Banker8
Barclays 8ank pl¢
PO Box 858
11 Wesl Way
Oxford
OX2 OXP
Independent Auditors
Crll¢hleys Audlt LLP
Beaver House
23-38 Hythe 8ridge Sireel
Oxforé
OX1 2EP

THE NORTH WALL TRUST
TRUSTEES, REPORT FOR THE YEAR ENDED
31 AUGUST 2022
The Trustees present, for the year ended 31 August 2022, the Annual Report under the Charities Act
2022, incorporating the Directors, and Strategic Report5 under the Companies Acl 2006. together with
the audileé financial stslements of The North Wall Tnjsl arKI independent auditor's reports.
STRUCTURE
The North Wall Tnjsl (the Trust" or the 'Company } was incorporated on 15 February 2012 (Company
Number 079515381 and registered with the Charity Commisslon on 11 April 2012 (Charity Number
11468511. Th6 Trust is a company limlled by guarantee and a wholly owned subsidiary of
Sl Edward'5 School.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Govoinlng DoGum•nls
The Trust is governed by its Memorandum and Artlcles of Associallon. The Trustees, the Officers and
Iho addres5 of th8 Tnjsl are given on page 2.
Ro¢ruStment and Tralnlng
New TnJslees are inducted into Ihe worklngs of the Trust by the Governors, the officers of
St Edward's School and the Art15tic Directors.
Structuro
The acllvilies of the Trust are underlaken by the staff of the North Wall Arts Centre {"The North Wall'l,
who are employed by Sl Edward's School. The Trustees meet on a regular basis lo review the activrties
of Ihe Trust.
OBJECTS. AIMS AND ACTIVITIES
ObJo¢l8
The Objects of the Trust are lo advance the education of the public, in particular children and young
poople. in the performing, theatre and visual arts. including educational courses and the produolion of
artisti¢ works.
Alms
The misslon of the TNSI is to ¢reate, promote and perpetuate the performing and vlsual arts and to
provide opportunities for everyone, bul particularly young people, to experience and lo make art of the
highest quallty. The Trust exists to break down barriers to participation in the arts. unillng talented young
artis15 With Innovative professional artists lo ¢reale bold new work through inlegraled residenll81
projects. productions and educational aclivlly.
A¢hl•vements
The Trust achieved its core projects for 2021-2022. including a return lo an in-person ArtsLab Easter
Residential programme and the first in-person Alchymy Festival slnce 2019. The Nalional Theatre
Connections Partner Festival took place in The North Wall buildlng. celebrating the talent5 of local youth
theatre and school groups. The Art$Lab Summer Residential programme look place in partnership wlh
W1se Children, working with early-career artists from across the UK. In Avgusl The North Wall produced
a new play by ArtsLab alumnus Karim Khan al the Edinburgh Festival.

THE NORTH WALL TRUST
TRUSTEES. REPORT FOR THE YEAR ENDED
31 AUGUST 2022
OBJECTS, AIMS AND ACTIVITIES lcontinuedl
Relation¥hlp betweon tho North Wall and St Edward'g School
The North Wall. whlch is on the sile of St Edward's School, remains the main base for all Trust a¢livilie5
includlng stsff and resources (for example technical, marketing and box office)
Sl Edward's School conlinues to provide the residential facilities for all ArtsLab resldenlial prolects free
of charge.. il is the immersive nature of the projects which provides a unique vocational Irainlng for
emerging young artists. The Trust can access these facilities with no direct cost implication5 and
therefore 811 Trust income can go directly lo support the cost of project5. Sl Edward's School has pledged
to continue to provide Ihls support for 22-23 activity.
Fundral$lng perfomanco
In term$ of unreslri¢led income. funds were given lo the Trust by Sl Edward's School to support Ils core
running and delivery of aclivily. Addllional grants were received from organisalions including the Garfield
Weston Foundation, Oxford City Council and PYE Charitable Trust.
Public Benofit
The Trust operates in line with the Publlc Benefll definS1ion as Provided by the Charillès Commisslon.
The core purpose of the Trust's acllvities Is educallonal, in particular il has a focus on the training of
young artists, wllh the aim of producing future generallons who are not only highly ski118d, bul also
have the desire lo create art responsibly and a passion to communicate forward-thinking Ideas In new
ways. The Trust provides an environment wllhln which naw art works can be developed lo produGllon
Standard. and this in lurn has the much wider impacl of bringing the debate and the aeslhelic lo public
audiences of all ages. In addllion lo vwalional, career-enhancing opportuntties for young artists, the
Trust offer5 OPPOrtunrties for young people lo experience and learn through participation In high
quality arts activity.
STRATEGIC REPORT
Art$Lab Resldontlal•
Th8 Trust's ArtsLab residential programmes during the Easter and Summer holidays went ahead after
previous years of adapted programmes due lo covld-reslriclions. During the Easter holidays, young
writer$ and directors look part In Calalysl, a flagship ArtsLab project that allows young wrllers to have
their work developed, rehearsed and staged, supported throughout by professional mentors and an
ensemble of professional actors, culminating In a public performance. During the Summer holidays The
North Wall partnerèd with Wise Children to ran a thealre-makbng res￿enCY for early-career artists.
Young Peoplo and Famlllos
Activities included workshops in writing, comedy and Improvisallon. a Camera Club. a dance
maslerclass, a fSlm project partnering with l.M.P.S, outdoor shows for the local communily and local
schools. a theatre club for young carers, a Christmas Light Festival. and particlpation in the NT
Connectlons Festival as a continuing host venue for 2022.
North Wall Co.Produ¢tlon8
With the aim of further supporting the work and artists that emerge from the ArtsLab and Croalive
Associate programme, the Trust supported the d8velopment of new work and projects by artists
including Eulon Daley, Philippa James and Goya Theatre. The North Wall produced a new play by
Oxford writer and ArtsLab alumnus Karirn Khan al the Edinburgh Festival 2022.

THE NORTH WALL TRUST
TRUSTEES, REPORT FOR THE YEAR ENDED
31 AUGUST 2022
STRATEGIC RepoRT (contlnuod}
Al¢hymy Festival of Now Work
After moving online in 2021 due lo the pandemic, the Achymy Festival returned lo The North Wall
building in Spring 2022, providing a plarform for ArtsLab graduate writers and Ihealre-makers to
showcase new work In various 5tag8s of development - alongside a programme of panel diswssions
and workshops for early-career art151s and the local communlty.
FINANCIAL REVIEW
In 2021 Sl Edward's School took the decision lo change ils accounting period end lo 31 August in order
to bring the financial year in line with the academic year. The Company has therefore also changed it5
accounting period to 31 August.
The slalemenl of financial activities show$ a surplus on unreslricled activities of £13.584 and a deficit
of £38,974 on reslrlcled funds as funds previously received were spent on Ihelr inl8nded purposes.
This results In a lolal nel expenditure of £25.390113 Months lo 31 Au9USt 2021.. nel expenditure of
£54,290).
The Company Is financially depend8nl on the support of si Edward's School. The Trust Ss also funded
by a combination of grants, donations, sponsorship and sales generated Income.
RESERVES POLICY AND RESERVES LEVEL
The Trustees review the Trust's reserves policy on an annual basls. The Trust manages ils funds and
the grants and donallon5 11 reG8ives so that, al any time, sufficlent r880urces are available lo ensure
that key projec15 are completed and essential costs are covered.
The Trust Is fortunate In that belng part of the Si Edward's School Infraslruclure, rt oan expend alm08t
811 resources on ils projects, so long as the flnancial resources are avallable and Confirmed. For these
reasons, the Tru51ees are not currently looklng lo build up a significant free reserve. Any unrestricted
income generated is used to further the Trust's obleclive5.
As al 31 August 2022, the Trust had total reserves of £42,55412021'. £67,944) of which £6,7￿{2021.
£45,770) were reslricled reserves. Unreslricled reserves were £35,758 (2021.. £22,174).
GOING CONCERN
On the basls that Sl Edward's Schod has confirmed 115 conllnued support for the Tru81, the Trustees
are of the view that the Trust is a going concern.
RISK MANAGEMENT
The Trustees are responsible for the management of the risks faced by the Trust. Detailed
considerations of risk are delegateé to the Company's management and is a continuous PTwess. The
Trustees hold a formal review of risk management processes annually.
The key ¢onlrols used include..
formal agenda papers and minutes for all Committee and Board acllvity,.
• comprehensive strategic planning, budgeting and management accounting,.
RISK MANAGEMENT (Continu•dl

THE NORTH WALL TRUST
TRUSTEES, REPORT FOR THE YEAR ENDED
31 AUGUST 2022
established organlsational structure and clearly recognised lines of reporting..
fomal wrillen policSes'.
• clear aulhorisation and approval levels., and
velling procedures as rèquired by law for the prolecllon of the vulnerable.
Through th8 risk established management processes, the Trustees are satisfied that the major risks
identified have been adequately mitigated where necessary, $0 far a5 PQ55ible. They recognise,
however. that any system can only provide reasonable rather than absolute assurance that major risks
have b88n adequately managed and the measures they have taken are therefore kept under constant
review.
FUTURE PLANS
The Trust plans lo deliver its core ArtsLab programmes in 2022-23 (Easter and Summer residenlialsl
2nd will continue lo provid8 meaningful opportunities for the nurturing and development of young artists
and new work. Future plans include.. Alchymy Fesllval 2023., an Oxford and London njn in Autumn 22
of The North Wall's Edinburgh Festival production of 8rown Boys Swim wrillen by ArlsLab alumnus
Karlm Khan. and continuing as 8 partner theatre for the National Theatre Connections Festival 2023.
STATEMENT OF ACCOUNTING AND REPORTING RESPONSIBILITIES
The Trustees (who ar8 al$0 dlreclors of the Trust for the purposes of Gompany law) are responsiblè for
preparing the Annual Report and the financial slalemenls with applicable law and United Kingdom
Generally A¢c8pled Accounting Practice (United Kingdom Accounting Slandardsl.
Company law requires the Trustees lo p￿pare financial slalemenls for each financial period. Under that
law the Trustee8 have elected lo prepare the finanGial slalemenls In accordance wilh United Kingdom
Generally Accepted Accounting Practice Iunlled Kingdom Accountlng Standards) and applicable law.
Company law requlres the Trustees to prepare finanGlal statements for each financial period. Under
company law the Trustee5 must not approve the financial $18temenls unless they are satisfied that they
give a true and fair view of the slate of affairs of the charitable company and group and of the incomlng
resources and application of resources, including the income and expenditure, of the charitable group
for that period. In preparing these financial $talement8, the Trustees are required lo:
select the most suitable a¢counting polici85 and then apply them con8lslently,'
observe the methods and principles In the Charilles SORP.,
make judgement5 and accountlng estimates Ihal are reasonable and prudent,.
stale whether applicable UK Accounting Stsndards have been followed, subject lo any
material departures disclosed and explained in the financial stalemenls-, and
prepare the financial statements on the going concern basis unless il is inappropriate lo
presume that the charitable company will contlnue in buslness.
The Trustees are responsible for keeping adequate records that are sufficlent lo show and explain the
charitable company's transactions, disclose with reasonable accuracy at any time the financial position
of the charitable company and enable them lo ensure that the financial statements comply with the
Companies Act 2006 and the provisions of the charity s conslilution. They are also responsible for
safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the
prevention and detection of fraud and other irregularities.
STATEMENT OF ACCOUNTING AND REPORTING RESPONSIBILITIES (Contlnued)

THE NORTH WALL TRUST
TRUSTEES, REPORT FOR THE YEAR ENDED
31 AUGUST 2022
Insofar as each of the Tru51ees. who are also Director5 of the Company. Is aware at the time of
approving the Annual Report of the Governor5'.
there is no relevant audit information, b8ing information needed by the auditor In
connection with preparlng their report, of which the Company's auditor is unaware.
and
each Trustee has taken all the steps that he or she should have taken as a Trustee in
order to mak8 himself or herself aware of the re18vant audit infomiation and to
establish that the Company's auditor is aware of that inforrnation.
Approved by the Trustees on 30 January 2023. Including, In thelr capacty as company dlreclors,
approvlng the Directors, and Strategic Reports conlalned therein, and signed on Its behalf by..
nfield, Trustee
30 January 2023

THE NORTH WALL TRUST
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE NORTH WALL TRUST
FOR THE YEAR ENDED
31 AUGUST 2022
Opinlon
We have audited the financial statements of The North Wall Trust ('Ihe charltable company } for the
year ended 31 August 2022 which comprise The Sialemenl of Financial Aclivilies, The Balance Sheet
and notes to the financial slalemenls, including significant accounting policie5. The financial reporting
framework that has been applied in their preparation is applicable law and United Kingdom
Accounting Standards, including FRS 102 The Financial Repcxling Standard applicable in the UK and
Republic of Ireland (United Kingdom Generally Accepted Accounllng Praclicel.
In OLtr opinion. the financial statements..
'give a true and fair v￿W of the stale of the charitable Company's affairs as al 31 August 2022 and of its
incoming resources and application of resources for the year then ended.,
.have been properly pr•pared In accordance wilh United Klngdom Generally Acc8Pted Accounting
Pracllce,. and
.have been prepared In accordanGa with the requlremenls of the CompanSes Act 2006.
Bas18 for oplnlon
We conducted our audit in accordance with International Standards on Auditing {UKI IISAS IUKI) and
applicable law. Our responsibilities under those Standards are further described in the Auditor's
rasponsibilit￿S for the audit of the fin8ncial statements section of our report. We are Indapendenl of
the charitable company in accordance wllh the othlcal requirements that are relevant to our audit of
the financlal slalemenls In the UK, includlng the FRC'S Ethical Standard and we have fulfilled our
other elhlcal responsibililles in accordance with these requirements. We believe that the audlt
evidence we have obtained is sufficient and approprlate lo provide a basis tor our opinion.
Con¢luilon8 rolatlng to golng concern
In auditing the financi81 statements, we have concluded that the trustees, use of the going concern
basis of accounting in the preparation of the flnancial Slalemenls Is appropriate.
Based on the work we have performed. we have not idenlrfied any material uncertainties relating lo
evenls or conditions that, individually or collectivély. may cast slgnificanl doubl on the North Wall Trust's
abillty lo conllnue as a going concern for a perlod of at least 12 months from when the financlal
stslemenls arè aulhorisod for issue.
Our resF)onsibililies and the responslbililie5 of the Iruslees with respect to going ¢oncern are described
in the relevant sections of this report.
Oth•r Inforrnation
The other information comprises the information included In the annual report, including the trustees,
report, olh8r than the financial slalements and our auditor's report Ihereon. The Iruslees are
responsible for the other information ¢onlainod wllhin the annual report. Our opinion on the financlal
statements does not cover the other information and, except lo the exlent otherwise explicltly 51aled In
our report, we do not express any form of assurance conclusion thereon.
Our responsibility is to read the other information and, in doing so, consider whether the other
information is malerlally inconsislenl with the financial slalements or our knowledge obtained in the
course of the audit. or otherwise appears lo be materially misstated. If we identify such material
inconsistencies or apparent material misststements. we are required to determine whether this gives
rise to a material mi5slalemenl in the financlal statements themselves. If, based on the work we have
performed, we con¢lude that there is a materfal misstalemenl of this other information. we are required
lo report that faGt.
Vve have nothing to report in this regard.

THE NORTH WALL TRUST
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE NORTH WALL TRUST
FOR THE YEAR ENDED
31 AUGUST 2022
Opinions on other matters prescribed by the Companio3 Act 2006
In our opinion. based on the work undertak8n in the course of the audit..
•lhe information given in the Irusleeg. report, whlch include$ the dir8Glors' report and the strategic report
prepared for the purposes of company law. for the financial year for which the financial slalemenls are
prepared is Gonsislenl with the financial statements., and
the dSreclors' report and the strategic report included wlthin the trustees, report hav& been prepared in
accordance with applicable legal requirernenls.
MattoTS on whlch we ar• requlr•d to report by •xceptlon
In the Ilght of the knowledge and understanding of the company and its environment obtained In the
course of the audit, we have not identified malerlal rrilsslalemenls in the stra18glc report included
wlhln the trustees, report.
We have nolhlng lo raport in respecl of the following fflatter8 In relation to which the Companies Act
2006 requlre us lo report lo you if, in our opinion-.
•adequale and proper accounting r8cords have not been kept, or returns adequate for our audit have
not been recelved from branches not visited by us. or
.the financlal slalements are not in agreement with the accounting records and returns,. or
ertain disclosures of trustees, r8muneratlon specif18d by law are not made., or
e have not received all the Informallon and explanations we require for our audlt
Rospon8lbllltl•8 of tru3t•••
As explained more fully in the Irvslees. fesponsibililies slalemenl sel out on pages 5-6 the trustees
(who 8re also the directors of the Gharilable company for the purposes of company lawl afe
responsible for the preparallon of the financial slalemenls and for being satisfied that Ihey give a true
and fair view, and for such internal control as the trustees determine is necessary lo enable the
preparation of financial slalemenls that are free from material mis51alemenl, whether due lo fraud or
error.
In preparing the finand81 slalemenls, the Iruslees are responsible for assessing the company's ability
lo continue as a going concern, discloslng, as applicable, rnallors related lo going concern and using
the going Concern basis of accounllng unles5 the trustees either intend to liquidate the company or lo
cease operations. or have no realistlc alternative but to do so.
Auditor's ￿ponSIbIlItIeS for the audlt of the flnanclal •tatom•nts
Our objective5 are lo obtaln reasonable assurance about whether the financial statements as a whol8
arè free from material misstatement, whether due to fraud or error, and lo issue an auditor's report
thal includes our opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee
that an audit conducted in accordance with ISAS {UKI will always delect a material mlsslalement when
it exist5.
Misslalements can arise from fraud or error and are consldered material rf, iTrdivldually rfi In the
aggregate, they could reasonably be expected to influence the economic decisions of users taken on
the basis of these financlal slatem8nls.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design
procedures in line with our responsibilities, outlined above, to delecl material misslalemenls in respect
of irregularities, Including fraud. The extent to which our procedures are capable of detecting
irregularities, including fraud Is d8tai18d below..
Our approach to idenllfying and assessing the risks of material misslalement In respect of Irregularities,
includlng fraud and nonffjompliance with laws and regulations, was as follows..

THE NORTH WALL TRUST
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE NORTH WALL TRUST
FOR THE YEAR ENDED
31 AUGUST 2022
the engagement partner ensured that the engagement team collecllvely had the appropriate
competence, capablli1165 and skills to identify or recognise non-compliance with applicable
laws and regulations..
we identified the laws and regulations applicable to the company through discussions with
directors and other management, and from our knowledge and experience,-
we focused on $pecrfic laws and regulallons which we considered may have a dlrect material
effect on the financial slalemenls or the operations of the company.
we assessed the extent of compliance wllh the laws and regulations idanlrfied above through
maklng enquiries of management and Inspecllng legal correspondence where appluble- and
idenllfied laws and regulations were communicated within the audit team regulady and the
team remained alert to Instances of non-compliance throughout the audit,
We assessed the susceptibility of the company's financial statements to material misslal6menl,
including obtainlng an underslandlng of how fraud might OCCUT, by..
making 6nquirles of management a$ lo where they considered there was suscaplibllity to
fraud, their knowledge of actual, 5u$pecled and alleged fraud.,
con81dering the Internal ¢onlrols in place lo millgate risk$ of fraud and non-compliance wllh
laws and regulations,. and
To addr88s the risk of fraud through management blas and overrSde of controls, we..
performed analytical procedures to identify any unusual or unexp8cl8d relatlon5hips,'
tested joumal entrie$ lo identify unusual transactlons,.
assessed whether judgements and assumpllons made in delermlning the accountlng
estimates were indicative of potential bias,. and
Investigated the rallonale behind signlficant or unusual transactions.
In response lo the rlsk of irregularlties and non-compliance with laws and regulations, we daslgned
procedures which included, bul were not limited lo..
agreeing financial 51alemenl dis¢losure3 to underfying supporting documentation.,
reading the minutes of meeting5 of those charged wlth governance;
enquiring of managemenl as to actual and potential liligalion and clalms.,
reviewing relevanl correspondence.
There are inherent limi181ions in our audit procedures described above. The more removed Ihat laws
and regulations are from financial Iransaclions. the less likely il is Ihal we would become aware of non-
compliance. Auditing $18ndards also limit the audit procedures Tequired lo idenlfy non-compliance whh
laws and regulations lo enquiry of the directors and other management and the inspection of regulatory
and legal correspondence, rf any.
Material misstalemenls that arise due lo fraud Can be harder to dete¢t than those that arlse from error
a5 they may involve deliberate con￿alMent or collusion.
A further description of our responsibilities Is availabl8 on the Flnancial Reporting Council's website at..
www.lrc org.uklaudilorsresponsibililie5.
This description form5 part of our auditor's report.

THE NORTH WALL TRUST
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE NORTH WALL TRUST
FOR THE YEAR ENDED
31 AUGUST 2022
Us8 of our roport
This report is made solely lo the charitable company's members, as a body, in a¢¢ordance with
Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we
might slate lo the charitable company's members those matters we are required lo slate lo them in an
auditor's report and for no other PUTpose. To the fullest extent permilled by law, we do not accept or
assume responsibility to anyone other than the charitable company and the charitable company's
members as a body, for our audit work, for this report. or for the opinions we have formed.
Colin Mllls (Sénlor Slatulory Audilorl
For and on behalf of Crltchleys Audit LLP {Slatulory Audltor)
23-38 Hylhe Brldge Slreal
Oxford
OX12EP
Dale: 3 March 2023
io

THE NORTH WALL TRUST
STATEMENT OF FINANCIAL ACTMTIES
FOR THE YEAR ENDED
31 AUGUST 2022
restatad
Total
Funds
2021
(13
month$l
Not•s Unrostrlcted Restrirted
Funds
Funds
Total
Funds
2022
Incom•:
Donations
Income from charitable aclivllies
337.043
130282
337,043
330,434
46
Total Incom•
467
7 000 ILL25
Expondltur•
Expenditure on charllable activltles
453,741
45,974
499.715
431.235
Totsl oxpendltur•
453 741
45
Nel Incomellexpendllur81
74
Nel movement In fund8
13.584
{38,974)
{25.3901 (54,2901
R•con¢lllatlon of fund•:
Total funds brought forward
77
12
Total funda caffled fO￿ard
The notes on pages 13 to 17 form part of the finan¢lal ststements.

THE NORTH WALL TRUST
BALANCE SHEET
AS AT 31 AUGUST 2022
Noto
2022
2021
Curront assets
Debtors
Cash al bank and in hand
5,957
58.367
34
Total current assets
98.347
92,463
Credhors falllng due wlthin one
year
Not a88ols
Represented by
Unr8slricled income funds
Restricted income funds
35,758
79
22,174
770
10
Totsl funds
The North Wall Tru¥t15 registered wllh company number 07951538.
The Directors acknowledge their responsibilities for complying with the requlrements of the Companlos
Act 2008 wlth respect lo accijunllng recoTd5 and the preparatSon of accounts.
The note3 On pages 1310 17 form part of these flnanclal statements.
Th88e financlal statements were approved and authorised for18sue by the Trustees and slgned on Ihelr
behatl by-.
nflel
fustee
Date.. 30 January 2023
12

THE NORTH WALL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 AUGUST 2022
Accountlng poliGles
The principal accounllng policles 8dopled. judgement5 and key sources of eslimallon uncertainty In the
preparation of the financial statements are as follows=
{a) Basls of pr¢paratlon
The accwnts of the public benefit entity have been prepared under the Companies Act 2006 and
in accordance with the Charities Statement of Recommended Pracllce {"SORP IFRS102}°l and
Financial Reporting Standard 102. The accounts are drawn up on the hislgrical cost basis of
accounting, as modrfied by the revaluation of investments.
Having reviewed the funding facllities avallable to the Trust and the Trust's future expected cash
flows, the Trustees have a reasonable expectation that the Trust has adequate resources lo
continue ils activities for the foreseeable future. A¢cordingly, the Trustees conllnue to adopt the
going concern basis in preparing the financial $lalements as outlined in the Slalemenl of
Accounting and Reporting Respon8lbillties on page 7.
Ib) Accountlng Reforenca Dato
In 2021 the Company Changed ils accounllng reference ijale to 31 Augu51 and prepared financial
statements for the 13 months lo 31 August 2021.
The Company's parent, Sl Edward's School, had changed its accounting reference date In order
lo bring ils financial year In line with the academic year, and so the Company changed 11$ own
accounilng ￿ference dale in order lo slay in Ilne with its parent,
The comparallve amounts for the 13 months lo 31 July 2021 presented in these financial
statements a￿ therefore nol entirely comparable wllh those for the year lo 31 August 2022.
1¢) Incom•
Income is recognised when.. the Company has entillemenl lo the funds.. any porfomiance
conditions allached lo income have been mel.. there 15 certainly of receipt,. and the amount can be
measured wlh sufficient reliability.
Income is deferred when performance fees, I￿ke1 sales or grant$ are received in advance of the
perfomiance or event lo which they relate.
Grants received for Specif￿ purpose8 are treated as ffj$lricled funds.
From the 19120 financial year, in accordance with an agreement between 11$ parent, St Edward'5
School, and the Company, the annual grant awarded by St Edward's Sch¢xJI to the Company is
Irrevocable and, as such, the Company has no obligation lo retum an portion thereof.
Idl Expandltur• and IrreGovornblo VAT
Expendllure Is re¢ogni8ed as soon as a liability 1$ considered probable and the amount can be
measured with sufficient reliabillly. All resources expended are Inclusive of any irrecoverable VAT.
Expendllure is classtFied undef the following aclivrty headings..
Costs of raising funds.
Expenditure on charitable activities.. and
Governance costs

THE NORTH WALL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 AUGUST 2022
lel Croditors
Basic financial liabilities, including ¢redrtors are initlally recognised at transaction price.
Trade creditors are obligations lo pay for goods or Services that have been acquired in the ordinary
Course of operations from suppliers. Amounts payable are Glassified as ¢urrenl liabilities rf payment
is due within one year or less. If not, they are presented as non-current liabililEs. Creditors are
recognised initially al transaction price and subsequently measured al amortised cost using the
effective interest method.
If) Funds accountlng
Restricted funds- Ihase are fund$ that can only be US￿ for specrflc restricted purpose$ withln the
objects of the Company. Reslri¢lions arise when speorfied by the don￿ or when funds are ralsed
for particular reslricled purposes.
Unreslricled general funds- these are funds which can be used in accordance with the charitable
objects al the discretion of the Trustees. Designated funds are funds Set aside by th8 Trustees
out of unles1r￿ted general fund8 for speciflc future purposes or proh8cIs.
Income from donatlon8
restatad
2021
2022
Grant from Sl Edward'5 School
Other 8pon$orshlp and grant income
285,000
308.750
Incomo from ¢harltablè actSvStl••
restated
2021
2022
Tl¢kel sales
Other Income
108,977
305
36,228
In the 2021 figures £20,433 of sponsorshlp and grant income has now been recla581Fied wlhin
income from dollallons lo better present this class of Income. There is no change in total income.
Exp•ndlture on charltabl• actlvltlo5
Dlrgct Support
Cost8
Cost•
Total
2022
Total
2021
Co818
Programme costs
Bar and other costs
Runnlng costs
Project costs
Govemanc
258.203 109.679
8,154
35,752
85,527
367,882
8,154
35,752
85.527
2,400
499.715
330.282
15.744
64,025
31,940
1,000
431235
2.400
2,400
258 203 239,112
14

THE NORTH WALL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 AUGUST 2022
4.1 Expondlture on charitable actlvltles Includes
2022
2021
Audlt F8es12021'. Independent examlner's fee9}
Reimbursement of travel and subsistence lo Trustees
4.2 Staff costs
No staff have been directly employed by the Trust as slafflng 15 provided by Sl Edward's School. The
cost of staffing is reimbursed by the Trust to Sl Edward's School.
2022
2021
The aggregate gross cost of staff for the period were as follows..
Wages and salarles
Social secunty costs
Other pension costs
221,443
19,782
227,523
19.995
258,203
260,672
2022
2021
Average monthly number ol employees durlng the perlod was..
None of the Trustees recelved any remuneratlon or other b8nefils from the School or from any
connected body.
None of the employees earned more than £80.000 (excluding employer's Nallonal Insurance and
employer pension costs bul Includlng any other benefit51.
Corporation lax￿lon
The Company is exempt from tsx on Income and gains falllng within secllon 505 of the Taxes Act 1988
to the exlenl that these are applled lo 115 charitable objeclives.
Dobtorn
2022
2021
Prepayments
Other debtors
Amounts owing by pa￿nt company
1,333
332
70
5,957
Creditors falllng due wlth5n ono y•ar
2022
2021
Other creditors and accruals
Deferred Income (see Note 81
Amounts owing to parent compony
4,923
18,609
740
23.779

THE NORTH WALL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 AUGUST 2022
Deferro(I Incorne
Deferred income comprises box office income for events in the next financial year and long term grants
received.
2022
2021
Balance al 1 Sep18mberl 1 Augusl
Amount released lo income from charSlable actlvitles
Deferred Box Office income due within one year
Balance at 31 August
23,779
123,779)
18609
15,684
115.6841
Unrostrlcted funds
2022
2021
As al 1 Augu51
Income
Expenditure
Transfers to Reslrlcted fund5
As al 31 August
22,174
467,325
1453,7411
44.734
376,945
{399,505}
35,758
22,174
10. Ro•trlctod fund•
R8$lricled funds represent grants recelved from the Garfield Weston Foundation, The Nallonal Theatre
and Oxford County Coun¢ll.
2022
2021
As al 1 August
Income
Expenditure
Transfers from Unrestrlcled funds
45,770
7,000
145,9741
77,500
{31.730)
As at 31 August
6,796
11
Pargnt company
The Company is controlled by Sl E￿ard'S School, since St Edward'g School 1$ Ihe sole member
of the Company. St Edward's School 1$ a charity registered with the Charlly commission under charity
number 309681. St Edward's Sch¢￿7 Is also a company limited by guarantee registered in England
and Waes wrth the company number 00116784. The main activity of Sl Edward's Schoo1 is opEraling
as a co-etlucational boarding and day school f(x pupils aged 13 10 18. Conlrol can be exercised over
the Trust by Sl Edward's School through being soldy responsible for the appointment and removal of
Trustees and also through the level of finan¢i31 subsidy thal11 provides.
The consolidated st8lulory accounts of St Edward's School can be obtalned either through Companies
House or from The Company Swetary. Sl Edward's School. Woodstock Road. Oxford, OX2 7NN.
16

THE NORTH WALL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 AUGUST 2022
12. Related party tran8aGtions
There were no related party transactions during the period other than with St Edward's School.
13. Statement of Flnancial Actlviilas fof th• 13 months andod 31 August 2021 (comparat5ves)
Note8 Ufirostrlctod R68trlct
Fund8
Funds
Total
Funds
2021
Totsl
Fund$
2020
(Yoarl
Income:
Donations
Income from ¢haritable activ￿185
310,001
310.001
944
362.434
Total Incorno
37
Expendltur•
Cost of raising funds
Expenditure on charitable activilles
399,505
31,730
431.235
442,991
Total •xpondbtur•
50
Net Incomellexpendllurel
29
74
Nel movement in funds
122,5801
131,7301 (54,2901
74,901
R•conclllatlon of fund•'.
Total fund5 brought forward
Total funds ¢arrl•d forward
174