THE WINNICOTT TRUST CIO Charity Registralion No: l 174533 ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 THE WINNICOTt TRUST CIO ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 CONTENTS Reference and administrative details Trustees, report Independent Examiner's Report statemenl of Financial Activities Balance Sheet Notes to the Financial Statements 9-13 THE WINNICOTt TRUST CIO REFERENCE AND ADMINISTRATIVE DEfAILS Chority number: 1174533 Principal office address: 51h Floor, 31>31 Fumival Street. London EC4A I JQ Trustees The trustees who served during the year and since the year-end were as follows.. Barbara Antonis- ICo- chair} Ruth Mccall- (Co- chairl Angela Joyce Elizabeth Wolf Emily Aster Astra Temko Dr Jonothon Sklar Helen Johnston- appointed 17 January 2025 Independent exominer Alex Friede ACA of Philip Friede & Co. 5th Floor. 30-31 Furnivol Street. London EC4A I JQ Bankers CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Molling Kent ME19 4JQ Inveslmenl Managers Sorasin Investment Funds Limited Juxon House loo. st Paul's Churchyard London EC4M 8BU THE WINNICOTT TRUST CIO TRUSTEES, REPORT FOR THE YEAR ENDED 5 APRIL 2025 ACHIEVEMENTS AND PERFORMANCE During the year the Trustee5 met five times. led by Ruth Mccoll and Bort)ie Antonis. The Trust has carried out its investment plan by pooling all investments into one large fund. The inlerest gained will be re-invested while there is income from all Ihe Winnicott publications. Once the Winnicotl publications are out of copyright. this larger pool of money will be made available for fulure grants. The Marsh Agency conlinues to monage the various tasks of Winnicotlian publications oround the world. Contact with other groups of psychoanalysts ond Winnicottian scholars around the world has continued in this year. Support continues to be given to the Squiggle Foundotion, which is our sibling orgonisotion promoting Ihe work of Winnicott. The Trust has continued to discuss with IPCAPA how we can further help the training and ongoing professional development of child and adolescent psychotherapists in the Independent Tradition. Support for the specialist supervision of psychiatric trainees in two Trusts continues. The Trust granted a further sum towards a Polish translation of DW Winnicolt's work. The Trust invesled in a new website lo help promote DW Winnicolt and to allow grant applications to happen directly Ihrough the website. During the year the Truslees acled in accordance wilh the objectives of the Charily and will continue to do so. The Trustees confim Ihal they hove paid due regord to the Chority Commission's published guidance on public benefit. TRUSTEES, RESPONSIBILITIES The charity's trustees are responsible for preparing a Irustees, annual report and financial slatements in accordance wilh applicable law and United Kingdom Accounting standards Iunited Kingdom Generally Accepled Accounling Proclicel. The law applicable lo charilies in England and Wales requires the charity Irustees to prepare financial statemenls for each year which give a true and fair view of the slale of offoirs of the charity ond of the incoming resources and opplication of resources of the chority for that period. In preparing the financial stotements. the tnjstees are required to: select suitable accounting policies ond apply Ihem consistenmy. observe the methods and principles in the Charities SORP. make judgements and estimoles that are reosonoble and prudent. state whether applicable accounting standards have been followed, subject to ony material departures disclosed and exploined in the financial statements. prepare the financial slalements on the going concern basis unless it is inoppropriote to presume thot the chority will continue in business. THE WINNICOTt TRUST CIO TRUSTEES, REPORT FOR THE YEAR ENDED 5 APRIL 2025 TRUSTEES, RESPONSIBILITIES - conlinued The trustees are responsible for keeping adequote accounling records that ore sufficient to show and explain the charily s transoclions and disclose with reasonable accuracy al ony time the finonciol position of the charity. They are also responsible for sofeguarding the assets of the charity and hence for taking reasonable sleps for the prevention and deleclion of fraud and other irregularities. Approved by the trustees on l December 2025 and signed on their behalf by: tt¥(SlGN RUTH MCCALL Co-choir of the board ol Tru$tee$ IJ7PRXWL4PYZ3PRY tX)XSlGN BARBIE ANTONIS Co-chair of the board ol Trustees 157X.QWPY4PYZ3PRY THE WINNICOTT TRUST CIO INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES I report on the accounts of the chority for the yeor ended 5 April 2025 which are set out on pages 7 10 12. Respective responsibililies of Iruslees ond examiner The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider thal an audit is not required for Ihis year under section 144 of the Charities Act 2011 I'the Charities Act") and thal an independent examination is needed. It is my responsibility to: exomine the accounts under section 145 of Ihe Charities Act; to follow the procedures laid down in the General Directions given by the Charity Commission under section 145151 Ibl of the Charities Act: and to state whelher particular malters have come to my attention. Basis of independent examiner's report My examination was carried out in accordance with the General Directions given by the Charity Commission. An exominotion includes o review of the accounting records kept by the chority and o comparison of the accounts presented wth those records. It also includes consideration of any unusual items or disclosures in the accounts. and the seeking of explanations from you os trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, no opinion is given as to whether the accounts present a 'true and fair view, and the report is limited to Ihose matters sel out in Ihe statement below. Independenl exominer's $totement In conneclion wilh my examination, no material matters hove come to my ottention which gives me cause to believe that. in any material respect. the requirements: lal to keep accounting records in accordance with section 130 of the Charities Act,. or Ibl prepare accounts which accord with the accounting records, the accounls did nol accord with the accounting records", or Icl the accounts did nol comply wilh the applicable requirements concerning the form and content of accounts set out in the Charities IAccounts and Reports) Regulations 2008 other than any requirement to give o "true and fair" view which is nol a malter considered as part of on independenl examination. ALEX FRIEDE ACA Philip Friede & Co, 5th Floor. 30-31 Furnivol Street, London EC4A IJQ THE WINNICOTh TRUST CIO STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 5 APRIL 2025 Unrestricted Funds 2025 Restricted Funds 2025 Total Funds 2025 Total Funds 2024 Note Income: Royolties and ALCS income 51.649 51,649 29,388 Investment income- dividends ond interest 2.730 2,730 11,165 Donations 11.520 11.520 33,286 Income from events 1,223 1.223 Total income 67.122 67.122 73,839 Expenditure Charitoble activities- gronts ond membership payments 17.123 17,123 15,232 other expenditure 36.196 36.196 29,055 Total expendilure 53.319 53.319 44,287 Net incomellexpenditurel and net movements in funds before gains and losses on investments 13,803 13.803 29,552 Net loss on revaluation of investments {5.2271 15.2271 18.7041 Net movement in funds 8.576 8.576 20,848 Transfer between funds Fund balances brought forward Al 6th April 2024 466.589 466,589 445,741 Fund balances corrled forward At 51h April 2025 475,165 475,165 466,589 THE WINNICOTh TRUST CIO BALANCE SHEET YEAR ENDED 5 APRIL 2025 UnreslTiCted Funds Restricted Funds Total 2025 Total 2024 Note Flxed assets Investments 394.773 394,773 Current assets CAF Bank accounts 83.392 83,392 481,109 Total assets 478.165 478.165 481,109 Current liabilities Creditors.. amounts falling due within one year other creditors- Winnicott Trust Accrued expenses 11,520 3.000 3.0(X) 3,0 Total nel ossets 475.165 475,165 466,589 The funds of the charity: Unrestricted income funds Capital fund Income fund 394.773 80.392 394,773 80.392 466,589 Total charlty funds 475.165 475,165 406,589 THE WINNICOTh TRUST CIO NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 5 APRIL 2025 l. Accounting policies (a) Basis of preparation and assessment of going concern The financial statements hove been prepared under the historical cost convention with items recognised ot cost or transoction volue unless otherwise stated in the relevant notelsl to these financial statements. The finonciol statements have been prepared in occordonce wth the Statement of Recommended Proclice: Accounting ond Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and the Charities Act 2011. The trust constitules a public benefit entily as defined by FRS 102. The truslees consider that there are no malerial uncertainlies about Ihe Trust's ability to continue as a going concem. (b) Reconclllatlon wlth prevlous Generally Accepted Accounllng Pracllce In preporing these finonciol stotements the tnjstees have considered whether in opplying the occounting policies required by FRS 102 ond the Charilies SORP FRS 102 0 restatement of comporotive items was needed. No restatements were required. {c) Funds slructure The charily has unrestricted income and capitol funds. The unrestricted income funds comprise those funds which the trustees are free to use for ony purpose in furtherance of the charilable objectives. The unrestricted capital funds money is held in the Sarasin Climate Active Endowmenls fund. The income from this fund is used for the general purposes of the chority. The increase or decrease in the market value of investments is retained within the capital fund and is not spent. The charity has no restricted funds os at Ihe balonce sheet dote. Movements on each fund in the year are described in note 6 on page 12. (d) Income recognlllon All income is recognised once the chority has enlitlement to the income, it is probable that Ihe income will be received, ond the amounl of income receivable can be measured reliably. Royalty income is recognised on receipt from the charity's literary agents. Marsh Agency. Amounts received by Ihe Marsh Agency on behalf of the charity but not paid over to the charily at Ihe year-end are recorded as income in Ihe accounts and shown as a debtor in Ihe balance sheet. Royalty income is shown gross in the Stalement of Financial Activities and all agency costs are recorded in Other Expenditure. Interest on funds held on deposit is included when receivable ond the amount can be measured reliably by the charity.. this is normally upon notificotion of the interest paid or payoble by the bonk. Dividends are recognised once the dividend hos been declored and notification hos been received of the dividend due. THE WINNICOTh TRUST CIO NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 5 APRIL 2025 l. Accountlng pollcles - contlnued {e) Expenditure recognition Liabilities are recognised as expenditure as soon as there is o legol or construclive obligation committing the charity to that expenditure. it is probable that settlement will be required, ond the omount of obligation can be measured reliably. All expenditure is occounted for on on accruals basis. Grants payable are payments made to third parlies in the furtherance of the charitable objects of the Trust. Grants are charged lo the Statement of Financial Activities in the period in which they have been paid. {f) Fixed asset investments Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value os at the balance sheet date using the quoted closing market price. The Statement of Finoncial Activilies includes the net goins and losses arising on the revaluation and disposals throughout the year. The Trust does not acquire put options. derivatives or other complex financiol instruments. The main form of financial risk faced by the chority is that of volotility in equity markets and investment morkets due to wider economic condilions. the attitude of investors to inveslmenl risk and changes in sentiment conceming equities and within parlicular sectors or sub sectors. (g) Realised gains and losses All gains and losses are taken to the Statemenl of Financial Activities os they orise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if ocquired subsequenl to the first day of the financial year. Unrealised gains and losses are colculoted as the difference belween the foir value at the year-end ond their carrying value. Realised and unrealised investment gains and losses ore combined in the Statement of Financial Activities. 2. Related party tronsaclions, Iruslees. expenses and remvnerolion The trustees oll give freely their time ond expertise without any form of remunerotion or other financial benefit in cash or kind. There were expense reimbursements to trustees of £1,116 this year. Payments of £1,088 were made in the year to 5 April 2024. The charity has an association with The Squiggle Foundation, registered charity number 283858. The Winnicott Trust CIO ond Ihe Squiggle Foundation colloborote on certain projects, have similar objectives. and hove certain trustees in common. Grant and membership payments of £1 1,71012024: £8.7001 were made to the Squiggle Foundation in Ihe year. 10 THE WINNICOTh TRUST CIO NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 5 APRIL 2025 3. Charitable activities- grants and membership payments Payments mode in Ihe yeorwere as follows: 2025 2024 The Squiggle Foundalion Magdalena Maria Zylicz 10 Windsor Wolk Project Elizabeth Wolf Anne Zachary 11,710 5.413 8,700 1,432 Totol 17.123 15.232 4. Other expendilure 2025 2024 Literary agents, commission and expenses Independent Examiner's fees Trustees, meeting expenses onk chorges Admin and bookkeeping services Filming fees Supervision costs Event expenses Sundry expenses. stationery. slorage and computer costs 15,642 3.101 9,092 3,600 60 4.753 8.199 4.050 9,614 2.115 3.(K)4 1.936 Total 36.196 29,055 11 THE WINNICOTh TRUST CIO NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 5 APRIL 2025 5. Flxed Assel Inveslments The movements in fixed ossel listed investments in the year were as follows: 2025 2024 Sar05in Climate Active Endowments Fund Market value at 6 April 2024 Investment additions in the year Net loss on revaluotion of investments 400.(KM) 15.2271 Morket volve on 5 April 2025 394.773 6. Analysls of charitoble funds Gain$. losses & transfers At 51412025 61412024 Income Expenditure Unresfrlcled Funds Income fund 466.589 67.122 153.3191 1400.0001 80,392 Copital fund 15.2271 4(M).OCX) 394,773 466,589 67.122 158.5461 475,165 7. Staff costs The chority does not employ any full-time or part-time staff. 12