I'HE WINfi 'l'RADE SPORI'S CLUB I,"OUNDATION (A coii)l)All)' limiled by giiArantee) RF,PORT AND UNAUDITF.D FINANCIAI, STATF.Mfi NT.% rtOR TJIE YEAii fi.NDEI D 31 Dri CEMIIER 2023 Compftii), Nuiiiber 7890704 Chai'it), Nunibei. 1146874 THf WINE TRADE SPORTS CLUB FOUNDATION CONTEI NTS PHge Ti'us(ees' Rrporl 1&2 Iiidci)ei)dciit Eiits Cliib folindation Cllai'ily R¢gisli?tioii Niiiiibcr.. 1146874 Coiiipdlly Regislyalion Niii)Ibei': 7890704 Registered oi'fiLe'. L/1) Be8bies 9 Boi)liill Sii¢¢l Loiidoii F.C.2A 4D.I oai'd of 'l'i'iistCC8 (Ivllo al'e also direcloi's ot Ilie coi))pai)y)'. Mi. c 'faveri)ei' (Lh&iKinai)) Mi. E D¢iiieiy Mi. M Hasslacli¢i' (Resigii¢d l Jai)11a1)' 2024) Mr N Last Mr M Leve5011-Goivci' Mr C Eliolt Lockhai't Ms C L Marciisoi) (Api)otiited 28 Jiiile 2023) Mr J Read Priiicipal Baiikei's CAF Baiik, 25 Kiiigs Hill A veiiue, West Mallii)g, Kei)t MEI 9 4JQ Accountants B¢gbies, 9 Boiihill Street, Loi)(lon EC2A 4DJ Soliciloi's Cliai'les Riiss¢ll Si)e¢cl)l}'s, 5 Fleet Pla¢¢, Loiidon EC4M 7RD Inveslmeiit Advisors J M Fini) & Co, 25 Coptliall Avei)ue. Londoii fc2R 7AH aiid Chai'les Stai)ley & Co, 25 Ropeinaker Siieet, Loiidoil EC2Y 9LY THE WINE TRADE SPORTS CLUB FOUNDATION REPORT of4 THE TRUSTF.F.S (CONTINUED) Activities An(1 Objectives Tlie maiii objecl of Ilie ¢oinpaiiy Is lo bei)efil those ei)Iplo)'ed oi. toi'iiiei'ly employed ii) Il)e iiiji)e and $1)iril aiid aiicillaiy Ii'ddes, and theii. depei)deiils. This incliides ilie geiieral I'elief of poverty ainoi)g sucII iiidividuals aiid suppoi'l of Ilie Di'ii)ks I'l'iisl (foriiiei'ly Ili¢ Wiiie aiid Spirit Ti'ades Bei)evoleiit Society). Tl)e cliviti¢s of tl)e coiiii)aiiy are iii)dertakeii to furtli¢i' ils ¢liai'ilabl¢ puii)oses aiid tlie Iriistees have had i'egai'd to the guidaiice issued by the Cliai'ily Coiiiinissioii 01) public beiiefit. Sti'uctui'e, Governance an(1 MaiiageJi)ent Tl)e eoiiipaiiy ivas incorpoi'atcd as a chai-ilttble coi1)paii)' liiiiited bj, giiaiaiitee 011 22 Decenibei. 2011. Tlie 011)P41ny look over Ilie assets of tlie WiiiL 'I'I'adL FoiiiTrclalioii, d Lliarily ii'iili Ilic saili¢ aclivilics 1¢ lid objectives ii,Iiicl) Iiad bcci) loi'iiied by ¢2 Declcll'cltioi) of .1 I'iisl dclted 17 July 1973. 01122 NoiTeiiibei' 21)12. Ilie coiiipai)y Inerged iiito i1s17¢11ance sheet Il)e sscls ofihe Vii)e Pi'o(liicls F. iiii)lo)iecs' Bciiefil fiiiid, a cliai'itable Ii'iist iviil) sii)iilai' objeclivcs lo Ilie coii)paiiy. Tl)e fiiiid 1% iioii, (Iiiiii)islei'ed #s i)#it of tl)e piopei'ty ot'ilie ¢oi)11)¢llly.qiil)jecl lo Ilie iesli'ietioi) IIILIt ivl)ei) rti)i)l)wji)g t5ie piui)ei'ly lyaiisfcii'e(I Ilie c(Iiiiiiaii)i Iiiiisl g7iVC pi-iol-ily lo Ilie origTinal beiieficilli'ies. Tlie Iiiaiiageilleii1 nf Il)e affaii'.8 nf tl)e Collilldnii is ci)iiiliicled b)1 Ilie Irii,qlees: Ivlio Ineel livice a yeai. as a iiiiiiiiniiii), aiid iiioi'e ti'eqiiently if coiisidLI-cd Ii¢c¢55ai-y. Trlichael H#sslAelier Tl)e Iriislees I'epoil, Iviili gi'eat sadi)ess, Il)e death of Micliael HasslRcliei' 011 2 M1( I'cll 2024. MiclTrRel ivas one of Ilie foiiiidei. Ii'iistees of tlie FoLin(lalioi), aiid liad resiLiiied oil l Jaiiiiaiy 2024 haviiig seiiped foi. fifty )'eoi's as a tyiistLc and ¢haii-Inai). Aeliici'eiiicJit5 fi inancial Revieiv The Ii'iistees Inel livice during tlie yeai. lo ag￿e Il)e Itcipienls and Rlllotiiils ofgrants and donations. A ¢liange in tl)e piocedure for approvii)g ali ai)iiual uii¢oiidilional gi'aiit to Ilie Drillks Triist ivas Inade li) 2022, Ivliereb)I the graiil Ivas api)ioved and paid iii Il)e yeai. of api)IDval, inslead of appi'oved aiid iiotified iii th¢ y¢ai' precedinbF iliat of i)aymcnt. The invesli)ient poi'lfolio pei'foi'iiied in line M'ill) equity Allai'kets. Plans for Ilie Fului'e The Iiwslees intei)d disli'ibutiiig all or Inost ofthe Iiet iiicoine of the cliai'ily as chai'itable gi'aiits aiid donations. 'ri)e investinent portfolio iyill be Inaiiilaiiied lo provide a I'¢asoi)abl¢ balance beliveen iiicome geiiei'atioii and cai)ilal nppi'eciatioi). Api)ioved by Il)e Ii'ustees on 26 JLlI)e 2024 aiid sigiied on )cir behalf by.. Cl)arles 'l'avei'iier Cliairmaii INDEpfi NDfi NT EI XAMtNfi.R'S RF.PORT TO THE TRUSTEI [1 s or THE WJNE SPORTS CLUB fi OUNDATION I I'epoi't to tlie cl)ai'ity ti'iistees on In)1 exllii)iiiation of Il)e a¢counis of tlie Coinpany foi. Ilie )'¢ai' ended 31 D¢c¢inb¢i' 2023. Resi)oiisibilities aild basis of repoi'l As tlie cliai'ity's ti'uslees of ihe Coiiipai)5' land also ils direcloi'5 for Il)e pil￿OSeS of coiiipai)), laiv) are respoiisible foi. Ilie pi'¢pai'alioii of Ilie a¢coiii)Is iii Iiceoi'dfii)ec iviil) Ihc I'eqiiii'cin¢iils of Il)e Coi)Ipai)ie5 Acl 2006 {'111¢ 2006 Act,). l-laiiji)g satisfied Iiiyself IliAt Ilie icwiiiits of Ilie Coiiipaiiy al'e Iiol I'eqiiiitil lo be aiiilileil iiii(lei' Pai'l 16 of Ilie 200() Act 11iid Are eligil)l¢ for ii)d¢i)¢iidci)I cxaiiiii)alioii, I I'ei)oit iii Irsi)¢¢l of11)y exaiiiiiialioii of yoiii. cl)ai'ily's accoiiiits a5 cai'i-ied out Iiiiiler seclioii 145 0l.ilic Cliai'ilics Aei 2011 ( Il)e 201 l Act,). Iii cai'i')'ii)g oiil 111)l Liai)iiiialioi) I l)ave tolloived Ilie Dii'eeliDI)s gii'eii b), Ilie Chai'ilji C'.oii)Inissioii Iindei. seblioi) 145(5) (b) ol- Ilic 2011 Act. IndeiTreiideiit exAinincr's stateiiieiit tlie e,iaininalioii g?iviiigi iii¢ caiise lo beli¢i'e'. acLOllI)lii)g fr'ecoi'ds ivei'e i)ol kei)l in respect of Il)e Coiiii)#iiy as reqiiiyed by section 386 ofilie 2006 Il)e ae¢oiiiils do Iiol accoi'd ii'iili Iliose i'ecords: 01. tlie accouiils do iiol coinply iviili Ilie accoiiiiling reqLliI'ements of scclioi) 396 of Ilie 2006 Aet otl)ei' tliaii Any I'eqiiii'eii)eiit tliic t tlie ac¢oiiiitS give a'lru¢ ai)d fair, view ivliicli is not a Inallei. coiisideiEd as pai'l of 811 iiidep¢iidenl examinalioi). or tlie aCCOLlI)ts llave iiot beei) pi'cpai'cd in accordaii¢e ivitli Ili¢ Iiietliods ai)d priiicipl¢s of Il)e SiatClllC21t of Re¢oininei?ded Pi'aclice for accoiinliiig and ieporliiig b}* l'ilies (applicable to Charities preparing Ilieii. accoiiiits in accordance iviili Il)e Fiiiaiicial Repoiling,Stai)dai'd ai)plicable iii Ilie UK and R¢publi¢ of Ir¢laiid (FRS 102)). I liave iio conceri)s ai)d liave coine aci'oss i)0 otl)er Inattei's iii coi)neclioi) Iviih th¢ exaininatioii lo i¥,liicli alteiilioii slioiild be di'¢llVlI in this repoi% iii ordei. lo eiiable a pioper uiiderslaiidii)g of Il)e accounts lo be rcacl)ed. Signed- Clii'islophei. Pexton, FCA Begbies. Chartei'ed Accouiitaiils 9 Bonl)ill Sir¢¢l, Loi)doii EC2A 4DJ Date: 26 Jiiii¢ 2024 THE WINE TRADE SPORTS CLUB FOUNDATION STATEMEf+lT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EI XPENDITURE ACCOUNT) FOR THF YEAR ENDF.D 31 DECEMBEI R 202J 2023 Tolfil Fuii(Is 2022 Total Fujhds Notes Incoitte froiii:_ C,l)Ic I'lt3' Aucllol) aiid Aniiivei'saiy Dii)i)ei' Sijoi'ls Cliil) Qiiiz 6.675 2,717 33,758 43,150 32,707 32,707 Total Fxpciilliliii'e Oil: Iiiveslinei)t Managjeiiienl Fees 11,263 11,407 Cliai'itable Activities- Gi?i)ts aiid Donatioiis riiiidraisimbtr Costs {AiiniversAiy Diiiiiei.) A¢couiitancy Chai'ges Siindiy Expeiises TotAI 36,872 2,000 2,964 1,328 54,427 14,415 2,820 1,373 30,015 Net (Expenditurc)Ilncom¢ (11,277) 2,692 Gaiiis/(Lo8ses) on Iiiv¢slmeiit Assets Net Movemeiit in Fun(Is 75,560 64,283 (109,112) (106,420) Recoiiciliatioii af Funds Total Fiiiids Bi'oiigilil Forivard ai l J(Inuary 2023 Total Fuiids Cari'ieil rtoim'llixl ot 31 Dectmber 2023 1,370.603 1,477.023 £1,434,886 £1,370,603 Coiiii)any No:7890704 THE WINE TIIADF. SPOIITS CLUB FOUNDATION JIALANCI SHEET AS AT 31 DECEMBEI R 2023 2023 2022 Notes ri ixeil As.sets 1,404,753 1,3.5.5,145 Ciii'i'ciit Assets ()JlL. Yeai. NL.I (.'iii'i'eiit Assets 15 11.$8 Ni.t Asscl¥ L I Il3LI,118() £ 1,434,886 £1,170,603 roi. tlie yeii. eiidii)g 31 t)eceii)bei' 2023 tlic coi))paiiy il'as eiiliilcd to cActniilioii iiiidei. section 477 of Ilie Coiiii)aiiies Act 2006 I'elaliiig to Sllllcll coniiiaiiies. Tlie iJieinbciE liave i)ol Itqiiircd Il)e ¢oiiipai))I lo obtilili ali 1( Iiilil iii accordaiice iviili se¢lioii 476 of the Coilliiui)ies Act 2006. Tlie dii'ccloi's acki)oivledge Ilieii. I'esponsibililies foi. coii)pl)'iiig iviil) Ilie i'equiirii)ciits ofilie Act ivith i'especl to accoiiiiliiig I'ecords aiid tlie prei)aralioi) of accoiii)Is. Tlicse accoiiiils l)ave beei) i)repai'ed iii R¢coi'daiice ivitl) the i)iovisioiis ai)plicable to eoii)pai)ics siibjecl lo tl)e s1)iall coiiipanies rcgiine. Ai)pi'oved bji Ilie Board 011 26 Jiiii¢ 2024 aiid sigi)¢d 01) its beliic If by Clinl'les Tavei'iTrei': Clinirni*ii THE WINE TIIADE SPORTS CLUB FOUNDATION NOTES TI) TIif, AC.COUNTS FOR THE YEI AR II IyI)F.D 31 DECEMBER 2023 Accoiiiiliiig Polieies IIAsis of l)Tr'epqi'1tioii bl Iiicoiiio All iiicoi))iiig I'esoiiices are I'ecogiiised 01)ee Ilie cl)k)ril)' ei)liileiiieiil lo Il)e I'esoiii'ces, il is Expeiillitui'e Liabilities al'e recogi)ised as iesoiiires expeii(Ic(l as sooi) as Ilici'c is a Icg. l oi. ¢oiisli'iicliv¢ oblignlioi) coi))Iiiihiiig Ilie cliiirity lo Il)e expeiiditlllE. All ¢.Ni)eiiditLlI'e is ac¢oiiiilcd foi. 01) ali acci'iials basis aiid li￿S beeii classified 111)dei' Iieadiiigs Ilial ag￿'egllle all costs I'elatcd to Ilie alegoi'y. Gi'aiits pa}iable 81'e pllyiiients Iiiade lo Iliii'd pai'lie8 iii Ilie fui'ilierance of Ilie cl)ai'ilable obj¢¢liveb of Ilie Ti'iist. Tl)e gii'ai)Is arc accoiiiilcd loi. Ivlieii eitliei. tlie ti'iistees liave agii'e¢(I to pay Ili¢ granl ii'iilioiil eoiidilioi) ni)d tl)e recii)iciit Iic1S a reasoiiable eipeclalioii Ilial Iliey ivill i'cccivc a gi'aiil. oi. ai))w conditioii attacliing to tlie g?I'ai)t is oiit.%ide tli¢ ¢oiili'ol of Il)c Ti'iisl. Ii'reeoveiable VAT is cliaiged ttglliiisl Ille ealegoiy of I'esoiii'ces e.xi)ei)ded foi. ii,hicli it il'as incui'i'ed. d) Gi'Ant Mxliiiig Policy 'I'h¢ Iriisl¢¢s I'¢¢¢jii¢ I'¢qii¢sl8 foi. ¢lS5i51aii¢c tIOlTI qll411ityiiig beiieficiai'ies ivliicli al'e eoiisidered b51 the Ii'iislees al Ilieii. I'cgiilai. i)Icctiiigs 41iid gi'ic Ills aivc21.ded iii ¢ii'¢iiiiislaii¢es consi(lei'ed lo be (11)Iiropi'il¢ le> l( I Ilie sole discirlioii of Il)c Ii'iislccs. THF WINEI TRADE SPORTS CLUB FOUNDATION NOTII S TO THE ACCOUNTS FOR THII Y[1 AR ENDED 31 DEI CEI MBEI R 2023 (CONTINUEI D) 2) Ti'iistees, Reniuiiei-alioii Tl)e triislees IEceii'ed 110 i'¢ii)Iiiieralioii. Triislees ivei'e reiiiibiii'sed ti'aiiel aiid expeiises lolalliiig £344 (2022.. £606)- 3) Gi'ii Ills an(1 Doiillti0115 2023 2022 Tlie Driiiks Triist.. 21.000 9,790 6,000 1,145 Hai'vest toiir 81)i)¥al 2,000 6Ytti)Is to a Viiie Prodiicis Llll.. beiieliciar}' 4,082 7,270 36,872 14.415 4) Fi%c(l Asset llli'o5tmeJits Market Valiie of Iiivestiiieiits Rt l Jai)Eiaiy 2023 1,355,145 1,473,901 Ad(lilions at cost 158,235 120.275 Dtssposals HI e•ri)iing valiie (184,187) (129.919) Net gaii)l(loss) on i'evaliialion 75,560 (109,112) MRrket Valiic Al 31 Deceiiiber 2023 1,404,753 1.355.145 Histoi'ical C05t al 31 Decei))bei' 2023 1,167,294 1,143,839 5) Ci'edlloi's fi8lling Diie Within Oiie Yeai. Graiils Approiied Uiicoiidilionally oiliei. Citdilors