THE AUDREY WILSON CHARITABLE SETTLEMENT
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2025
THE AUDREY WILSON CHARITABLE SETfLEMENT CONTENTS Page Trustees, Report Independent Examinerfs Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 7-10 Investment Schedule
THE AUDREY WILSON CHARITABLE SEThLEMENT TRUSTEES. REPORT FOR THE YEAR ENDED 5 APRIL 2025 The Trustees present their annual report and financial statements of the charity for the year ended 5 April 2025. The financial statements have been Prepared in accordance with the accounting policies set out in note 1 to the financial statement5 and comply with the charity's Trust Deed, the Charities Acl 2011 and Accounting and Reporting by Charities.. Statement of Recommended Practicè applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019. Reference and Admlnistrative Detalls Constitution The Audrey Wilson Charitable Settlement is a registered charity governed by a Settlement Deed dated 17 February 2015 Charty Number: 1160826 Reglstsred Offlceladmlnl¥tratlon offlce and addre88 of appeal8 The Adminlstralor The Audrey Wilson Charitable Settlement clo JTC Trust and Flduciary Services (UK) Limitèd, The Scalpel, 18th Floor. 52 Lime Street, London EC3M 7AF, United Kingdom Banker8 and Investmont Managers Evelyn Partners Investment Management LLP 45 Gresham Street, London EC2V 7BG Union Bancaire Privee (UK) Lirnited One Bank Street, Canary Wharf, London, E14 4SG Independent Examlnor8 Couch Bright King & Co 2 Tolher5t Court, Turkey Mill Busln8ss Park, Ashford Road, Maidstone. Kent, ME14 5SF Legal advlser Forsters LLP 31 Hill Street, London W1 J 5LS Tru8tees Nicholas David Grenvllle Jacob Phllippa Audrey Wilson Elizabeth Mary Dunckley On 3 November 2025 the legal name and registered address of the administrator changed from Kleinwort Hambros Trust Company (UK) Limited of One Bank Street. Canary Wharf, London E14 4SG lo JTC Trust and Fiduciary Services (UK) Limited of The Scalpel, 18th Floor, 52 Liffle Slreet, London EC3M 7AF. Objocts of tho charlty The objects of the charity are to promote and support such charitable purpose or purposes, and such charitable organisation or organisations (being purposes and organisations which are exclusively charitable according to the law of England) as the Truslees shall from time to time in their discretion decide. Grant making policy The Tnjstees, current policy is to meet annually and to make ad hoc dislributions to certain s81ected charities although no commitment is given lo recipients.
THE AUDREY WILSON CHARITABLE SEThLEMENT TRUSTEES. REPORT FOR THE YEAR ENDED 5 APRIL 2025 Appointment of trustees and charlty organi8atlon The charity is managed by the Trustees who are appointed under the tem8 of the Trust Deed. with dally administratlon belng dealt with by JTC Trust and Flduciary Services (UK) LirnSted. No fijndraising is undertaken to support the bvork of the charity. Flnancial revlew and Investmont poll¢y and perforniance Incoming resources lotalled £37,609.49 (£35,418.48 in 2024). Under the gov8ming document, the investment objective 15 to maintain 8 balance between capital and income grovAh which over the long terni 11 endeavour to maintain the real value of the assets. The inve51ment objects've is to be achieved by investment in a diversified balanced portfolio. benchmarked against MSCI PIMFA Income benchmark. Th18 benchmark will be kepi undèr review and may change from time to time as and if the Trustees are advised by their investment adviser that it is no longer appropriate. The investment portfolio must at all times contaln assets of a minimum value of £100,000 whlch can be liquidated within 4 working days. The purpose of this requirement is lo ensure that at all tim88 the Trustees are ablè to make ch8rltable distributlons of at least £100,000 if Ihey resolve to do so. Rovl•w of th• a¢tlvllles and future d•v•lopment• The Trustees are satisfied yth the financial position of the charty and confirm that they have adequate asse18 available to fufffii their obligatlons. There are no plans to alter the chartys activities next year. Ch&flty• publlc benefit The Trustees have ensured that all activiti88 throughout the period have been for the public benetll, Th13 13 evidencèd by the contributions rnade to chatllles totalling £180,1)00.00 (£150,000.00 in 2024). The Trustees conflrm that they have refeed to the guidance contained In the Charity Commission's gen8ral guidance on public benefit when revlewing the charlly's aim5 and objectlves and in planning future activities. Re••Th•• pollcy and ri•k managoffl•nt The Trustees have considered what risks the charity faces and belleve these lo be the risk5 of fraud or poor investment perfonnance. Adequale systems are in place to mitigate fraud rl8k. and the Chaitys investment perfomiance V11 be regularly monitored. Tru8t•e•' r•8pon•lbllltl•* In relation to th• fln•ncl•l 8latements The charity Tru51ees are responsible foi preparing a Trustees, annual report and 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 and Wales requires the charity Trus16es to prepare Financial Statements for each year which give a true and fair view of the state of affairs ofthe chanty and oflhe incoming resources and application of resources, of the charity for thal period, In preparing the financial ststements, the Trustees are required to: select suitable accounting policies and then apply them consistentty,. observe the methods and principles in the applicable Charitie5 SORP; make judgements and estimates thal are reasonable and prudent., state Ythether applicable accounting slandards have been followed, subject to any rnaterial departures that musl be disclos8d and explained In the financlal statemenls., prepare the financial stalements on the going concern basis unless It is Inappropriate to presume that the charity will continue in business.
THE AUDREY WILSON CHARITABLE SETTLEMENT
TRUSTEES' REPORT FOR THE YEAR ENDED 5 APRIL 2025
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.
....................................................... ................................................. Nicholas David Grenville Jacob Philippa Audrey Wilson LIned ....................................................... oy Elizabeth Mary Dunckley Date
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THE AUDREY WILSON CHARITABLE SETTLEMENT
TRUSTEES' REPORT FOR THE YEAR ENDED 5 APRIL 2025
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.
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Philippa Audrey Wilson
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Elizabeth Mary Dunckley
Date 05 February 2026
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THE AUDREY WILSON CHARITABLE SETTLEMENT
INDEPENDENT EXAMINER'S REPORT
Independent Examiner's Report to the Trustees of The Audrey Wilson Charitable Settlement
I report to the Trustees on my examination of the accounts of The Audrey Wilson Charitable Settlement for the year ended 5 April 2025, which are set out on pages 5 to 14.
Responsibilities and basis of report
As the Charity Trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Ms. Tarwa Mohammed BA FCA Chartered Accountant - ICAEW Date 06 February 2026
Couch Bright King & Co Chartered Accountants 2 Tolherst Court Turkey Mill Business Park Ashford Road Maidstone Kent ME14 5SF
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THE AUDREY MLSON CHARITABLE SErrLEMENT STATEMENT OF FINANCIAL ACTMTIES FOR THE YEAR ENDED 6 APRIL 2025 Note Unrestricted Fund Expendabl• Endovmient Totsl 2020 Tolal 2024 Income and ondowment• Investment Income 37,609.49 37,809.49 35,418.48 Total Incom• and Endowm•nt• 37,609.49 37,609A9 36A18A8 Ewndltur• Costs of rnising funds.. Evelyn Investment Management Fee8 ExpendrLure on Chantable Activities: Donation8 Support Costs 8,896.71 8,896.71 8,908.27 180,000.00 7,503.31 180,000.00 7,503.31 150.000.00 11,329.71 Totsl Exp¢ndlluv• 196,400.02 196,41I0.02 170,237.98 Net InComlEXP•ndIlur•) 8•for• Galn• •nd Lo•••• on Inv••tsnents 37.609.49 1196.400.02) (168.790.531 (134,819.60) N•t G•ln•l(Loue•) on Inva•tments Reall88d Unrna118ed 19,039.89 19,039.89 133,269.91) {33,269.911 21,253.31 55,810.68 114,230.02) (14,230.02) 77,063.99 Net Mov•m•nl In Funds In th• Y••r 37.609.49 (210,630.04) 1173.020.56) 157,766.61) Funds At S April 2024 Net Movemenl of Re8ources in thé Year 205,435.38 37.609.49 1,264.880.89 1,470,296.07 1,528,051.58 (210.630.041 1173.020.55) 157.755.51) Ai 5 April 2025 £243,044.87 £1,064,230.86 £1,297,276.62 £1,470.296.07 The Ststement of Finanrial Ath'vrties indudes all gains and l¢)sses recognised in the year.
THE AUDREY WILSON CHARITABLE SETTLEMENT
BALANCE SHEET FOR THE YEAR ENDED 5 APRIL 2025
| Note | 2025 | 2024 | |||
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| Fixed Assets | |||||
| Investments | 6 | 1,305,454.72 | 1,476,912.87 | ||
| Current Assets | |||||
| Cash at Bank | - | - | |||
| - | - | ||||
| Current Liabilities | |||||
| Creditors, amounts falling due | |||||
| within one year | 7 | 8,179.20 | 6,616.80 | ||
| Net Current Assets/(Liabilities) | (8,179.20) | (6,616.80) | |||
| Assets less Current Liabilities | £1,297,275.52 | £1,470,296.07 | |||
| Capital Fund | |||||
| Expendable Endowment | 1,054,230.65 | 1,264,860.69 | |||
| Income Fund | |||||
| Unrestricted Fund | 243,044.87 | 205,435.38 | |||
| £1,297,275.52 | £1,470,296.07 | ||||
| The notes at pages 7 to 10 form part of these financial statements. | |||||
| The financial statements were approved by the trustees on 2026 | The financial statements were approved by the trustees on 2026 |
....................................................... ....................................................... Nicholas David Grenville Jacob Philippa Audrey Wilson Ctdanedoy ....................................................... Elizabeth Mary Dunckley
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THE AUDREY WILSON CHARITABLE SETTLEMENT
BALANCE SHEET FOR THE YEAR ENDED 5 APRIL 2025
| Note | 2025 | 2024 | ||||
|---|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | ||
| Fixed Assets | ||||||
| Investments | 6 | 1,305,454.72 | 1,476,912.87 | |||
| Current Assets | ||||||
| Cash at Bank | ||||||
| Current Liabilities | ||||||
| Creditors, amounts falling due | ||||||
| within one year | 7 | 8,179.20 | 6,616.80 | |||
| Net Current Assets/(Liabilities) | (8,179.20) | (6,616.80) | ||||
| Assets less Current Liabilities | £1,297,275.52 | £1,470,296.07 | ||||
| Capital Fund | ||||||
| Expendable Endowment | 1,054,230.65 | 1,264,860.69 | ||||
| Income Fund | ||||||
| Unrestricted Fund | 243,044.87 | 205,435.38 | ||||
| £1,297,275.52 | £1,470,296.07 | |||||
| The notes at pages 7 to 10 form part of these financial statements.The | ||||||
| financial statements were approved by the trustees on 05 February | 2026 | |||||
| QB Di |
fSd Aur EZ, a |
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| Nicholas David Greriville Jacob | Philippa Audrey Wilson | Philippa Audrey Wilson | Philippa Audrey Wilson |
Elizabeth Mary Dunckley
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THE AUDREY WILSON CHARITABLE SETfLEMENT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 1 Accountlng Pollcla• These ffinanaal gtatements have bèen prepared in accordance with the particular accounts'ng policies described low. Ba818 of Proparatlon and A88e88ment of Golng Concern The financial stalemenl8 have been prepared under the historical c091 convention excepl for investments, vthich have been included at market value. The financial statements have been prepared in accordance with Ihe Stal8ment of Recommended Practice.. Accounting and Reporting by Charities pr&paring their Financial Slatements in accordance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) issued in October 2019 ond the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS1021 and the Charilie8 Act 2011. Th? charity constitute8 8 public benefit ents'ty as defined by FRS 102. The Tru8t•e8 con8lder that there are no mat8rial uncertointies about the tharity's ability to ca)ntinue a8 a golng conc•m. Tho pre8ent8tlon currency of these finoncial statements is PourKls Sterfing, The figures ha not been rounded. B••1• of A¢¢ounllng - Income r•cognlllon All incoming resour8 are induded in the Statement of Financial Activilles when the charlty 18 legally entitled to the Incom• and the 8mount can be quanbfied vlth reasonable acLuracy. Income tax recoverable In relation to inve8tment income is recognlud at the tSme Involtment Income Is reCeable. Donalion8 are recogniged when the chanty h88 been notified in writing of both the amount and 8ettlement date. In Ihe event that a donation is subject lo condits'ons that require a level of p8rform8nce belor8 the charity 18 enlilled to the funds, the Income 18 dalerred and not recognised until either those Conditions are fully mel, or the fulfilment of those condlllons 18 wholly thIn the control of the charity and11 ig probable that those condltlons wll be fulfilled in the reportlng p8rlod. Legacy gift8 are recognised on a ca8e by ca8e basis following the granllng ol probat8 when the AdminislralorlEx8cutor for the eslate has communicated in writing bolh the amount and 8ettlement date. In the evenl that the gift 18 in the fomi of an a$sel olher than cash or a financial a99et traded on a recognised 8tod( exchange, rergnitIon)1 subject lo the value of th8 gift being reliably me89urable vthh a degree of reasonable accuracy and the title to the asset having been transferred to the charity. Interest on funds held on deposit 18 induded vthen receivable Bnd the arnount can be rneasured reliably by the ch8rrty', this is nomially upon notification of the interest paid or payable by the bank. Dividends are recognised once the dividend h88 been declared and nob'fication has been received of the diwdend due. This is nomially upon notification by our Inv•8lment m8nager of the diwdend yield of the invesknent portfolio. - RMourcM •xp•nd•d Liabilities are recogni8ed as expenditure as soon as there 1$ a legal or con8tructive obligation commffting the charity that exp8ndltur•. It is probable that settlement will be required and the amount of the t)bligation can be measured reliably. All expenditure is accounted for on an accruals basi8 and has been induded under expense categories that 8ggffjgale 811 costs for allocation lo activities. Where o)sls cannot be directly attnbuled to particular activitie$ they have been allocated on a basls con818lent with the use of the resources. Grants payable are charged in the year wthen the offer is made except in those caa•s where the offer is conditional, such gran1$ being recogni&ed a8 expenditure when the conditions attaching are fulfilled. Grants offered subiect to condilion8 which have not been met at the year end are noted as a commrtment, bLrt nol accrued 08 eXpendrtu.
THE AUDREY WILSON CHARITABLE SErrLEMENT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2026 Fund Strncture Income funds are unrestricted funds which are available for use at the discretion of the Trustees in furtheran of the general objective5 of the chanty and wthich have not been designated for other purposes. Capital fvnds comprise expendable endowments, wthereby there is no requirnent to spend the captlal unl, or until, the charity Trustees decide to do $0. These funds 8re invested to prjuCe unrestricted income which can be $penl in accordance with the charitable objectives. Investment income, gains and108ses are allocated to the appropriate fund. Investments Listed investments are included in the financial statements at mid-market value at the balance sheet date. Unlisted inveslments are included in the balance sheet St their histodcal cost less any amounts written off. Inveslments include cash held for investment purposes. Reallsed galn8 and 108888 All gains and losses are taken to the Stslement of Financial Activities as they arlse. Reallsed gains and10gses on investments are calculated as the diffenCe beeen sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day ol the financial year. Unrealised gain8 and losses are calculated a8 the difference b¢een Ihe lair value at the year end and their carrying value. 2 Informatlon regardlng Trustèe8 and Employoe8 JTC TTUSt and Fiduciary Service5 IUKI Limited received a fee of £5,659.201£5,416.80 in 20241 for administration service8. The charity had no employees and no Tru8tee received remuneration or expense8 during the year. The Trustees have purchased indemnity insurance for £452.1112024- £440.91). 3 Investment Incom• 2025 2024 Income from UK Listed Securftles Interest ReceSvéd Accrued Income 37,138.55 510.71 139.77) 35,267.53 165.47 (14.521 £37,609.49 £35,418.48 4 Donatlons to Charftabla Inslltullons 2026 2024 British Heart Foundation Guide Dogs Kent, Surrey & Sussex Air Ambulance Tw8t Royal National Lifeb08t Institution The Salvation Army (SAUlff) The Yehudi Menuhin School 30,000.00 30,000.00 30.000.00 30,000.00 30,000.00 30,000.00 30,000.00 30,000.00 30,000.00 30,000.00 30,000.00 £180,000.00 £150,000.00
THE AUDREY WILSON CHARITABLE SETfLEMENT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2026 S Support Colts 2026 2024 Governance Costs: JTC Trust and FIduary Service8 (UK) Limited Fees Independent Examinerfs Fe8S Forsterg LLP Indemnity Insurance LEI Charges 5,659.20 1,320.00 5,416.80 1,200.00 4,200.00 440.91 72.00 452.11 72.00 £7,503.31 £11,329.71 6 Inve•tm•nts118ted on a rocognlsed Stock Exchange 2026 2024 Market Value Brought Fonlvard 1,471,860.00 1,531.996,00 Purchase8 Disposals 489,481.03 (648,674.011 582,176.35 (719,376.34) 1,312,667.02 1,394,796.01 Realised Gainllo88 Unrealised Gain 19,039.89 133,269.911 21,253.31 55,810.68 Market Valua Carrled Forward 1,298,437.00 1h71,860.00 Cash on Account 7,017.72 5,052.87 Total Inve•tmonts £1,305,464.72 £1,476,912.87 Inve¥lmonts comprlslng greater than 5% of the Portfollo 2025 2024 CG Portfolio Fund Inve$co Physical Markets Ishares Core FTSE100 JPMorgan ETFS Magna Umbrella Fund TB Evenlode Global Income F TB Evenlode Income Fund D Schroder Asia Pacific 6.19 5.07 6.06 5.42 7.24 5.37 5.85 5.20 5.07 5.79
THE AUDREY WILSON CHARITABLE SETfLEMENT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 7 Credltors, amounts falllng due withln one year 2026 2024 JTC Trust and Fiduciary seICe$ {UK) Limited Couch Bright King & Co Fee8 5,659.20 2,520.00 5,416.80 1,200.00 £8,179.20 £6,616.80 8 Expondabh Endowments Mov8ment In Funds Bal•nc• 6 Aprll 2024 G•ln8 and Tran8f•r• Balanc• 6 Aprfl 2026 £1,264,860.69 {£210,630.04) 1,054,230.85 Income is available for general purposes. The eypendable endovmient 18 represented mainly by inve8trnent8 listed on a recogniBed Stock Exchange. 9 Unrutrlcted Fund8 The income funds of the charity will be allocated by the Tru8tees towards charities and charitable activities, as sel out in the Tru81ees' Report attached to these Financial Slalem8nts and when sufficient income balance8 are available. Unrestricted funds are represented by the Gurrent assets and inve8tmenls of the charity. 10 Relat•d party tran$a¢tlon¥ and TnA8ts08' expenses and rnmuneratlon Tho ¢harity does not ha a relationship any other charity or organisations. Remuneration of £5.659.20 includlng VAT (£5,416.80 In 2024) was paid to JTC Trust and Fiduciary Services IUKI Limited for administration services. 11 Costs and Charge• on Ev•lyn Parlnern Inve8lm•nt Portfollo The following breakdown shows the costs bome by the portfolio in the period 6 Aprll 2024 to S April 2025. The costs and charges are beged on a percentage ofthe portfolio value. Evelyn P8rtners Investrnent Fees VAT on Fees Evelyn Partner5 transaction charge5 Third party transaction fees Undertying fund charges 7,669.58 1,227.13 3,411.91 6.00 8.917.92 21,232.54 10-