Charity number: 1150031 THE WEINSTOCK FUND TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
THE WEINSTOCK FUND CONTENTS Reference and administrative details of the charity, its Trustees and advisers Trustees' report Independent auditors' report on the financial statements Statement of financial activities Balance sheet Statement of cash flows Notes to the financial statements Page 1 2-5 6-9 10 11 12 13-23
THE WEINSTOCK FUND REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 5 APRIL 2025 Trustees Charity registered number Principal office Consultant Independent auditors Bankers Investment Managers The Hon. Susan Gina Lacroix The Hon. Laura Helen Weinstock The Hon. Clare Renton 1150031 PO Box 5035 Marlborough Wiltshire SN8 9GP Mrs Sally Barber BKL Audit LLP Chartered Accountants Statutory Auditor 35 Ballards Lane London N3 1XW C. Hoare & Co. 37 Fleet Street London EC4P 4DQ Troy Asset Management Limited 33 Davies Street London W1K 4BP Page 1
THE WEINSTOCK FUND TRUSTEES' REPORT FOR THE YEAR ENDED 5 APRIL 2025 The Trustees present their annual report and financial statements of The Weinstock Fund for the year ended 5 published on 1st January 2019. Structure, governance and management a. Constitution The charity was established, by deed of trust dated 29 November 2012, as the successor charity to the Weinstock Fund (1962) Trust which had been set up by the late Lord Weinstock in 1962, and which ceased on 12 December 2012 on the expiration of the trust period. The successor charity was created in its place to enable the trustees to continue to support a wide range of charitable causes. The deed of charitable trust, under which The Weinstock Fund was formed, is not specific about the objects of the trust and allows the trustees absolute discretion to apply funds for general charitable purposes. b. Methods of appointment or election of Trustees The trust deed allows the trustees to appoint additional trustees. c. Policies adopted for the induction and training of Trustees New trustees would be supported by the experienced trustees and on induction would be provided with a copy of the previous year's accounts, a copy of the Charity Commission publication 'The Essential Trustee' and any other relevant information. d. Organisational structure and decision-making policies The trustees aim to meet regularly to award grants, review the investment portfolio and discuss the administration of the trust. The day-to-day administration of grants and the processing and handling of applications prior to consideration by the trustees is delegated to the charity consultant. Page 2
THE WEINSTOCK FUND TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025 Objectives and activities a. Policies and objectives The principal objective of the charity is to pay or apply the income of the trust to such charities or for such charitable purposes as the trustees in their absolute discretion think fit. b. Main activities undertaken to further the charity's purposes for the public benefit The trustees confirm that they have referred to the Charity Commission's general guidance on public benefit when making grants and agreeing the distribution policy for the year. 134 grants totalling £533,643 were paid to charitable institutions during the year (2024: 161 grants totalling £622,899). Typically grants were awarded within the range of £2,000 to £5,000. 122 of the 134 grants made during the year were within this range (2024: 147 of the 161 grants were within this range). The grant allocation between the charitable sectors, as follows, was within the range set by the trustees for the period: The Arts - 41% Community -2% Cultural/Environmental - 4% Disability - 17% Educational - 13% Hardship Alleviation -2% Medical Treatment/Care- 10% Social Welfare- 10% In addition to the grants paid in the year the trustees may also commit to supporting charitable causes for a number of years. For example, during the period covered by these accounts a three-year grant totalling £15,000 was awarded to a charity providing bursaries to choral scholars. £5,000 was paid in the period covered by these accounts with a further £5,000 to be paid in 2026 and 2027. c. Plans for future periods The trustees aim to continue to support as many charities as possible that meet the criteria set out in their grant making policy, the details of which can be found at: https://www.weinstockfund.org.uk/guidelinesforapplicants.html Page 3
THE WEINSTOCK FUND TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025 Financial review a. Overview The Foundation funds the grants it makes to charities from investment income with any shortfall being met from the proceeds of investment sales. The trustees have charitable commitments before discount for 2025/26 of £145,498 and £84,500 for 2026/27. b. Reserves policy The trustees aim to maintain a reserve fund, including cash, at a level equating to at least one year's normal charitable expenditure in order to meet any short-term variances in cash flow. This enables the trustees to respond to grant applications and to cover support and governance costs. c. Investment policy and performance There are no restrictions on the charity's powers to invest. The investment strategy is set by the trustees and takes account of the demand for funds and the quality of the funding applications. The trustees consider the income requirements, the risk profile and the investment managers' views of the market prospects in the medium term. This strategy is set within an overall policy which states that the funds be invested in medium risk investments. The income from the investment portfolio for the year ended 5 April 2025 was £629,915 which represented a return of 3.60% on the original value of the investments (being the market value of the investments transferred into trust on 12 December 2012) and any subsequent acquisitions (2024: income of £603,999 representing a return of 3.5%). Interest on cash deposits was £5,891 (2024: £5,975). The trustees aim annually to achieve an above average return on their investments. The total return on their investments, before fees, for the year ended 5 April 2025 was 3.3% against a year-on-year target return (capital growth with dividends and yield reinvested) of 4% per annum. The MSCI PIMFA Balanced Index (peer group) showed an increase over the same period of 4.03%. (2024: increase of 2.95%). d. Factors relevant to achieve objectives The continuing volatility of the stock market over the last few years has made the management of the investments particularly difficult. The trustees, on professional advice from their investment advisors, are of the view that the current mix of equities, global funds and cash is appropriate to their investment policy and attitude towards risk. e. Risk management The trustees have identified the major risks to which the charity is exposed. These fall into two main categories protection of assets and income and the integrity of the grant making process. Having carried out their annual review of these risks, the trustees remain confident that they have the systems and procedures in place to mitigate the risks as far as possible. Page 4
THE WEINSTOCK FUND TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2025 f. Going concern After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future despite the current uncertain outlool -or this reason, they continue to adopt the going concern basis in preparing the financial statements. Furthe details regarding the adoption of the going concern basis can be found in the Accounting Policies. Statement of Trustees' responsibilities The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to: select suitable accounting policies and then apply them consistently; • observe the methods and principles of the Charities SORP (FRS 102); make judgments and accounting estimates that are reasonable and prudent; . state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Disclosure of information to auditors Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that: • so far as that Trustee is aware, there is no relevant audit information of which the charity's auditors are unaware, and • that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charity's auditors are aware of that information. Approved by order of the members of the board of Trustees and signed on their behalf by: Egun Weindore The Hon. Laura Helen Weinstock Trustee Date: 28/10/2025 Page 5
THE WEINSTOCK FUND INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES OF THE WEINSTOCK FUND Opinion We have audited the financial statements of The Weinstock Fund (the 'charity') for the year ended 5 April 2025 In our opinion the financial statements: • give a true and fair view of the state of the charity's affairs as at 5 April 2025 and of its incoming resources and application of resources for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirements of the Charities Act 2011. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events o conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report. Page 6
THE WEINSTOCK FUND INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES OF THE WEINSTOCK FUND (CONTINUED) Other information The other information comprises the information included in the Annual report other than the financial statements and our Auditors' report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated 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 materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Matters on which we are required to report by exception We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion: the information given in the Trustees' report is inconsistent in any material respect with the financial statements; or sufficient accounting records have not been kept; or the financial statements are not in agreement with the accounting records and returns; or we have not received all the information and explanations we require for our audit. Responsibilities of trustees As explained more fully in the Trustees' responsibilities statement, the Trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. Page 7
THE WEINSTOCK FUND INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES OF THE WEINSTOCK FUND (CONTINUED) Auditors' responsibilities for the audit of the financial statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: • Enquiring of management and those charged with governance around actual and potential litigation and • Reviewing board meeting minutes of meetings of those charged with governance; • Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations; Performing audit work over the risk of management override of controls, including testing of journal entries outside the normal course of business and reviewing accounting estimates for bias. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We • Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. • Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion of the effectiveness of the charity's internal control. • Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Trustees • Conclude on the appropriateness of the Trustees' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our Auditors' report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our Auditors' report. However, future events or conditions may cause the charity to cease to continue as a going concern. Page 8
THE WEINSTOCK FUND INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES OF THE WEINSTOCK FUND (CONTINUED) Evaluate than eral present incarce and represent or undian aaron deleine manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and ming of the audit and significant audit findings, including any significant deficiencies in internal control that w lentify during our audi A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Use of our report This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the harity's trustees those matters we are required to state to them in an Auditors' report and for no other purpose o the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the chari and its trustees, as a body, for our audit work, for this report, or for the opinions we have formed. BKL Audit LLP BKL Audit LLP Chartered Accountants Statutory Auditor 35 Ballards Lane London N3 1XW Date: 28/10/2025 BKL Audit LLP are eligible to act as auditors in terms of section 1212 of the Companies Act 2006. Page 9
THE WEINSTOCK FUND STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2025 Unrestricted funds 2025 Note Income from: Investments Total income Expenditure on: Raising funds Charitable activities Total expenditure Net income before net gains on investments Net gains/(losses) on investments Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward 2 3 4 635,806 635,806 2,178 472,918 475,096 160,710 1,270,731 1,431,441 19,718,415 1,431,441 21,149,856 The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 13 to 23 form part of these financial statements. Total funds 2025 635,806 635,806 2,178 472,918 475,096 160,710 1,270,731 1,431,441 19,718,415 1,431,441 21,149,856 Total funds 2024 609,974 609,974 144 295,030 295,174 314,800 609,631 924,431 18,793,984 924,431 19,718,415 Page 10
THE WEINSTOCK FUND BALANCE SHEET AS AT 5 APRIL 2025 Fixed assets Investments Current assets Debtors Cash at bank and in hand Note 9 10 2025 € 21,064,866 21,064,866 2024 19,794,135 19,794,135 10,408 318,344 328,752 (162,643) 205308 265,809 (308,889) Creditors: amounts falling due within one year 11 Net current assets / liabilities 166,109 21,230,975 (43,080) Total assets less current liabilities Creditors: amounts falling due after more than one year 19,751,055 12 Total net assets (81,119) 21,149,856 (32,640) 19,718,415 Charity funds Unrestricted funds 14 Total funds 21,149,856 21,149,856 19,718,415 19,718,415 The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: Egun Weindhre The Hon. Laura Helen Weinstock Trustee Date: 28/10/2025 The notes on pages 13 to 23 form part of these financial statements. Page 11
THE WEINSTOCK FUND STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 5 APRIL 2025 2025 Cash flows from operating activities Net cash used in operating activities Cash flows from investing activities Dividends and interests from investments Proceeds from sale of investments Purchase of investments Net cash provided by investing activities Cash flows from financing activities Net cash provided by financing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year The notes on pages 13 to 23 form part of these financial statements (572,863) 625,398 625,398 - 52,535 265,809 318,344 2024 (651,771) 609,974 3,755,026 (3,711,866) 653,134 - 1,363 264,446 265,809 Page 12
THE WEINSTOCK FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 1. Accounting policies 1.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. The Weinstock Fund meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the 1.2 Going concern The Trustees are confident that the charity has adequate reserves and resources to continue operations for the foreseeable future and is well placed to manage its business risks successfully despite the current uncertain economic outlook. For this reason, they continue to adopt the going concern basis in preparing the financial statements. 1.3 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. The charity does not have restricted funds. 1.4 Income All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure on raising funds includes all expenditure incurred by the charity to raise funds for its charitable purposes. Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs. Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure. All expenditure is inclusive of irrecoverable VAT. Page 13
THE WEINSTOCK FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 1. Accounting policies (continued) 1.6 Investments Fixed asset investments are a form of financial instrument and are initially recognised at their 1.7 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 1.8 Cash at bank and in hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 1.9 Liabilities and provisions Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised as the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Grant commitments are recognised as liabilities in the balance sheet and charged to the Statement of Financial Activities when the commitment to make the grant is communicated to the recipient. Grants due in more than one year are discounted to present value. The discount rate used is determined using the charity's average income yield on investments. 1.10 Financial instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequentl neasured at their settlement value with the exception of bank loans which are subsequentl measured at amortised cost using the effective interest method. Page 14
2. 3. THE WEINSTOCK FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Investment income Interest received on cash deposits Dividends received Unrestricted funds 2025 5,891 629,915 635,806 Interest received on cash deposits Dividends received Unrestricted funds 2024 5,975 603,999 609,974 Investment management costs Unrestricted funds Investment management fees 2,178 Investment management fees Unrestricted funds 2024 144 Total funds 5,891 629,915 635,806 Total funds 2024 5,975 603,999 609,974 Total funds 2025 2,178 Total funds 2024 144 Page 15
4. 5. THE WEINSTOCK FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Analysis of expenditure on charitable activities Summary by fund type Grant making activities Unrestricted funds 2025 472,918 Grant making activities Unrestricted funds 2024 295,030 Analysis of expenditure by activities Grant making activities Direct costs 2025 € 430,806 Support costs 2025 42,112 Grant making activities Direct costs 2024 270,890 Support costs 2024 24,140 Total 2025 472,918 Total 2024 295,030 Total funds 2025 472,918 Total funds 2024 295,030 Page 16
6. THE WEINSTOCK FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Analysis of expenditure by activities (continued) Analysis of support costs Stationery and postage General management Audit and accounting fees Bank charges IT expenses Insurance Grant making activities 2025 424 19,243 20,230 438 1,636 141 42,112 Stationery and postage General management Audit and accounting fees Bank charges IT expenses Grant making activities 2024 375 21,325 435 450 1,555 24,140 Analysis of grants Grant making activities Grants to Institutions 2025 430,806 Total funds 2025 424 19,243 20,230 438 1,636 141 42,112 Total funds 2024 375 21,325 435 450 1,555 24,140 Total funds 2025 430,806 Page 17
7. THE WEINSTOCK FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Analysis of grants (continued) Grants paid in the year Arts Community Cultural & Environmental Disability Education Hardship Alleviation Medical Treatment/Care Social Welfare Total grants paid in the year Grants awarded in prior year Future commitments awarded in current year Total grants paid and awarded in the year Cancelled grants Finance charges on discounting of future commitments Total Grant making activities 2025 € 217,978 13,000 23,000 91,742 68,500 13,000 52,373 54,050 533,643 (296,815) 195,998 432,826 (2,021) 430,806 Grants to Institutions 2024 270,890 2024 202,790 41,500 34,000 115,178 79,500 11,000 76,381 62,550 622,899 (418,648) 71,500 275,750 (3,500) (1,360) 270,890 Total funds 2024 270,890 Auditors' remuneration The Auditor's remuneration amounts to an audit fee of £6,600 (2024 - £6,000), and accountancy, taxation and advisory services of £7,200 (2024 - £6,000). Page 18
THE WEINSTOCK FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Trustees' remuneration and expenses During the year, no Trustees received any remuneration or other benefits (2024 - ENIL). During the year, no Trustee expenses have been incurred (2024 - ENIL). Fixed asset investments UK Equities Valuation At 6 April 2024 Revaluations At 5 April 2025 Market value At 5 April 2025 At 5 April 2024 1,410,968 118,128 1,529,096 OEICS € 18,383,167 1,152,603 19,535,770 1,529,096 1,410,968 19,535,770 18,383,167 10. Debtors 2025 Due within one year Prepayments and accrued income 10,408 10,408 Total 19,794,135 1,270,731 21,064,866 21,064,866 19,794,135 2024 - Page 19
THE WEINSTOCK FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 11. Creditors: Amounts falling due within one year Accruals and deferred income Grants accrued - institutional (see note 13) 2025 17,145 145,498 162,643 12. Creditors: Amounts falling due after more than one year Grants accrued - institutional (see note 13) 2025 81,119 13. Grants accrued Opening grant commitments Opening commitments paid in current year New commitments awarded in the year Cancelled grants Finance charges on discounting of future commitments Reversal of closing finance charge 2025 329,455 (296,815) 195,998 (3,381) 1,360 226,617 Breakdown of commitments Due within one year (see note 10) Due after one year (see note 11) 2025 145,498 81,119 226,617 2024 12,074 296,815 308,889 2024 32,640 2024 681,463 (418,648) 71,500 (3,500) (1,360) 329,455 2024 296,815 32,640 329,455 Page 20
THE WEINSTOCK FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 14. Statement of funds Statement of funds - current year Balance at 6 April 2024 Unrestricted funds General Funds - all funds Statement of funds - prior year 19,718,415 Income Expenditure 635,806 (475,096) Gains/ Balance at 5 (Losses) April 2025 1,270,731 21,149,856 Balance at 6 April 2023 Income Expenditure Gains/ (Losses) Balance at 5 April 2024 Unrestricted funds General Funds - all funds 18,793,984 609,974 (295,174) 609,631 19,718,415 15. Analysis of net assets between funds Analysis of net assets between funds - current year Fixed asset investments Current assets Creditors due within one year Creditors due in more than one year Total Unrestricted funds 2025 21,064,866 328,752 (162,643) (81,119) 21,149,856 Total funds 21,064,866 328,752 (162,643) (81,119) 21,149,856 Page 21
THE WEINSTOCK FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 15. Analysis of net assets between funds (continued) Analysis of net assets between funds - prior year Fixed asset investments Current assets Creditors due within one year Creditors due in more than one year Total Unrestricted funds 2024 19,794,135 265,809 (308,889) (32,640) 19,718,415 Total funds 2024 19,794,135 265,809 (308,889) (32,640) 19,718,415 16. Reconciliation of net movement in funds to net cash flow from operating activities 2025 1,431,441 2024 924,431 Net income for the year (as per Statement of Financial Activities) Adjustments for: Dividends and interest from investments Decrease/(increase) in debtors Increase/(decrease) in creditors (Gains)/losses on investments Net cash used in operating activities (625,398) (10,408) (97,767) (1,270,731) (572,863) (609,974) (356,598) (609,630) (651,771) 17. Analysis of cash and cash equivalents Cash in hand 2025 318,344 2024 265,809 Page 22
THE WEINSTOCK FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 18. Analysis of changes in net debt Cash at bank and in hand At 6 April 2024 265,805 Cash flows 52,535 At 5 April 2025 € 318,344 19. Related party transactions The charity has not entered into any related party transactions during the year, nor are there any outstanding balances owing between related parties and the charity at 5 April 2025. Page 23