Charity registration numbèr 1181775
Company registratlon number 11133860 {England and Wale$l
THE WELLAND TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

THE WELLAND TRUST
LEGAL AND ADMINISTRATIVE INFORPJIATION
Trustees
Ms J Rees
Mi55 P Jones
Miss l Murphy
Mrs S Saunder5
Charlty number
1181775
Company number
11133860
R8yistsr•d offic•
Craftsrnan House
De Sali5 Driva
Hampton Lovett
Dro1￿ICh
Worcestershire
England
IfvR9 OQE
Indopgndent examiner
Colm McGrory
Ormgrod Ruit8r Limrted
The Oakley
Kidderminsler Road
Dro1￿"1¢￿
Worcestershire
WR9 9AY

THE WELLAND TRUST
CONTENTS
Pay•
Twstees, report
Independent examinels report
Slalemenl of flnanoal 8clivilles
Balance sheet
Notes to the finanaal statements
8-17

THE WELLAND TRUST
TRUSTEES, REPORT {INCLUDING DIRECTORS, REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2023
The trustees presenl their annual report and financial slalemenls for th& year ended 31 December 2023.
The financial statements have been prepared in accordan￿ with the accountitYJ policies sel out in note 110 the
rinancial statements and comply with Ihe charity's memorandum and artiolos of assoaation. the Companie5 Ad
2006 and Accounting and Rèporting by Charities.. Statement of Recommended Practice applicable to charities
preparing their a¢¢ovnls in accordance wllh the Financlal Reporting Standard 8ppli(8ble in the UK and Republic
of IrelarKI IFRS 1021" (effective l January 2019).
Objectives and activitles
The ChariV$ objects
1. To relieve the needs of care eXperIen￿d people primarily. but not exclusively. through adv8n¢ing their health,
relieving unemployment. the provision of financial a5SiStance and by developing their skills and ¢apa¢ty $0 that
they are able lo participate rnore fully in society.
2. The provision of housing, indyding Social Housing. and assistance to help house care experienced people
and associated facilities, amanilies and services for Ihem.
For the purpose of this clause "¢ai& trxperionced. means children or adults who have al Somè stage had foslgr
care or residential cale experience.
The Charity's aim5:
The Welland Trust continued to deliver on the long4ern 51r8legy during Ihe year, focusing on fundlng and
support of projects, services and initiatives delivered by other organisalions who seek lo benefit aduhs who
hava experienced care.
We arg particularly keen lo support the rxeation of opportunitie5 whith help reduce homelessness, redu￿
offending. and support that will enhancè thè physical and mental wellbeing of adults who've been in care. The
projects we are looking lo support will be those who will serve care experienced peoplè of all ages, genders
and backgrtsunds, in particular, we have a passion lor projects that support opportunities for training,
employrnenl and further education for care leavers who are over 25 where there Is no slalulory support
available.
Publi¢ benefit
The Iruslees have complied wllh their duly lo have du9 regard lo the guidance on public benofit as published by
the Charity Commission and consider all the activrtie$ undertaken to further the charity's pury)o$es lo be of publi¢
benefit.
Propèrty
The Charity aims to purchase. lease, exchange, hire or otherwise acqulre any r6al or personal property rights or
privilegès linduding shared or eonlinggnl inlareslsl.
The charity may also constNet, aller, improve, convert. maintain, equip, fumi5h an¢Jlor dèmolish any buildtngs.
structures or property.
The charity may sell, lease, license, exchange, dispose of or othen￿lse deal with property {subject lo the
restrictions in the Charrties Act 2011).
The chaity aims lo rènt propèty to caro experienc8d people al below market rents in order to enable them to live
inter41ependenlly.
The charity May provide accommodation for any other Charitable organisation on such lems as the Board
decides (including rent-free or at nominal of non-commer¢ial rents) subjgct lo the restrictions in the Charities Act
2011.
Grants and Loan$
The charity aims lo make grants. donations or loans, lo givè guarantees and to give security for Ih05e
guarantees {subject to the restrictions in the Charities Act 20111.

THE WELLAND TRUST
TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2023
Use of staff and voluntsars
The charity may empltsy staff or engagè consultants and athiisers on such terms as the Board thinks ￿t.
The charity wll re¢iuil and manage voluntary workers, including paying their reasonable expen5e$,' the charity is
very grateful lo the volunteer5 who provide support and help to raise awareness and funding for the chartty.
Achlevements and perfom)anc&
Financial review
After a year of poor inve51menl performance in 2022 il w8$ encouraging to see a return lo growth in 2023. the
investments grew by £1,080,105 during the year. with particularly strong growth in the final quarter. The closing
investment valuation balance was £7.835.603.
Grant giving for the year was £728,585. with overheads and staff c051s of £190,321 and £139.450 respectively.
The net surplus for the year was £33.749.
In August the trustees made the decision lo lemporarity pause new grant applications lo allow the Investment
fund lime lo recover from the fall in value throughout 2022. il is hopgd that grant giving will resume in the first half
of 2024. Any previously awarded grants continue lo be paid as agraed. This short-temi hold on grant giving is
necessary to safeguard the long term sucrEs5 oflhe charity.
Welland Retail Ltd
Following the closure of the ￿v0 café's the subsidiary wa5 wound down and dissolved in August 2023.
ReseThes and Inveslment pollcy
The trustees consider that a prudanl level of reserves should be held lo support the aims of the charity and
enable continued and sustainable grant giving.
11 is thè Irustèa's intenliort that Surplus ftjnds held in excess of those required for medium lem financial
commttments be invested. and that the relum a¢hieved on the investments will be used lo fund the charitable
giving and overheads. The investment portfolio will be pi()f&ssionally managed and invested iri diversified,
ethical, and enwronmenta15y friendly securities. The risk profile for the investments is currently moderate, this
will be reviewed at least annually to ensure an acceptable riskjrelum balance is maintained.
The Charity maintains a borrowing facility of up lo £SOO,000. this sum can be drawn down as required, with the
balance secured again51 the investmen15. The borrowing facility adds a ¢Jegree of flexibility, enabling the
Charity lo make withdrawals from investments al the rn0s1 optimal times. The interest rate on the borrowing is
lower than the long term average investment returns.
Future Plans
Tha charity aims to conliftua its organisational grant making actiwtie5 as des¢ribed earfier in the report. Vve
plan lo prornote the Charity widely. to extend its reach and attract a wide range of grant appltcations to
promote innovation and to maKimEe the opportunibes available to care experienced people nationally.

THE WELLAND TRUST
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
structure, govemance and management
Governing document- The charity is govemed by 115 Memorandum and Articles ofAssocAation dated 4th January
2018, as amended by special resolution ￿gIStered al Companies House on 12th December 2018 and further
arnended by special resolution daled V December 2020 also bLlged with Companies House.
The trusle8s. who are also th& directors for the purpose of ¢ornpany law, and who 5efVgd during thè year and up
lo thè dale of signature of the financial slalemenls wgrè..
Ms J Rees
Miss P Jones
Mis51 Murphy
Mrs S Saunders
Recruitment and appointment of new trustses
The trustees, who are also dire¢Xors under company law, are appointed by ordinary resolution or by the existing
Iiustees of the charity.
None of the Iruslees have any beneficial interest in the company. All of the tru$lees arè membais of the company
and guarantèè to contribut8 £1 in the ev8nt of a winding up.
Oryanisational structure
The Iruslees are responsible for Governance and ensuring the charitable objectives are being rnel. The Chair
and trustees provide strategic direction and dec4sion making to the executive team, who ha5 delegated
authority for delivering Ihe strategic plan and operatsonal leadership, including the day lo day running of the
Charity.
Induction and training of new trustees
New trustees are provided with information in the form of a Trusteès, Handbook including details from the
Charity Commission explaining their duties and responsibilities as Iruslees, the temis of their engagement as
trustee and details of the charitys key principles and aims for its work. Eath Ifuslee is also providad with a
copy of the charity's Memorandum and Articles of Association and a recommended resource and reading li$1
lo assist Ihelr role and devèloprnenl.. these are also available from the charity.

THE WELLAND TRUST
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
statemènt of trusteès, r￿ponsIbIlItieS
The Iruslee5, who are also the directors of The Welland Trust for the purpose of company law. are ￿SPOnSible
for preparing the Truslees, Report and the financial slalemenls in a¢cordance wrth applicable law and United
Kingdom Accounting Standards (United Kingdom GenèrallyA¢¢epled Accounting Practice).
Company Law requires the trustees to prepare financial statements for each financial year which give a true and
fair vlew of the slate of affairs of the charity and of the incoming resources and application ol r&sources, including
the Income and expenditure, of the charitable company for that year.
In preparing these financial stalemenls, the Iwslees are requirgd lo..
- select suitable accounting policies and then apply them tx)nsislenlly.
observe the methods and principles in the Charities SORP.
make judgtrmenls and e51imales that ar¥ raasonable and prudent.
stale whether applicable UK Accounting Standards havg beèn folbwed, subject to any material dèpartures
disclosed and explained in the financial 5tatemenls', and
prepare tha finan¢ial stalamants on the going concern basis unless It is inappropriate lo presume that the
charity will continue in operation.
The Iruslees are responsible for keeping adequate accounting records that di5CtOse with ￿8$Onable accuracy at
any lime the financial position of the charity and enable them to ensure that the financial statements comply with
Ihe Cornpanies Act 2006. They are a150 responsible for safaguarding the assets of the chairty and h6nce for
taking Teasonable steps for the prevention and detection of fraud and other irregularities.
In $0 far as the trustees are aware..
there is no relevant audit information of which the chartable company's auditor is unawarg.. and
the trustees have taken all steps that they ought to have taken to make themselves ware of any rel¢vanl audit
information and to establish that the auditor is aware of that infomiaiion.
Audltor
In ac¢ordan¢8 with the ¢ompany's atticl8s, a resolution proposing that Ormerod Rutter Limited be reappointed as
auditors of the ¢omp8ny will be pul al a General Meeting.
Thg trustees,
was approved by the Board of Trustees.
M$ J Rees
Trustee
Dated.. ....

THE WELLAND TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE WELLAND TRUST
I report to the trustees on my examination of the financial slalements of The Wèlland Trust Ilhe charity) for the
year ended 31 December 2023.
Responslblllties and ba$1¥ of report
As the trustees of the charity land also rts directors for the purpose5 of Company lawl you are responsible for
the preparation of the financial slalemonls in accordance with the requirements of the Ctsmpanies Act 2006
{the 2006 Act).
Hawng satisfied myself that the financial slalemenls of the rharity ale not required to be audited under Part 16
of the 2006 Act and are eligible for independent examinatlon, I report in respect of my examination of the
charity's financial stalernents carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying
out my examination I have followed all the applicable Directions given by the Charity Commission under
section 14515llb) of the 2011 Aet.
Indèpèndent examinerfs statement
I have completed my examination. I confirm that no matters have come lo my attention in ¢onne¢tion with the
examination givin9 me ¢8use to beI￿ve that in any material respect..
accounting records were not kept in respect of the charty as ￿quIred by sethon 386 ofthe 2006 Act.. or
the financial slalernenls do not accord wf(h those re¢ords'. or
thè financial stalernents do not comply with thè accounting requirements of section 396 of the 2006 Act
other than any requirement that the a¢¢ounls givè a true and fair view which is not a matter considered as
part of an independent examination., or
the financial ststemernts have not bgen prepared in accordance with the rnelhods and prln¢iple$ ol tha
Stalemenl of Recommended Practice for accounting and reporting by charities applicable lo char￿"e$
preparlng Ihelr accounts In 8rxordan¢e with the Financial Reporting Standard applicable in the UK and
Republic of Ireland IFRS 1021.
I have no concems and have come across no other matters In conneclion wllh the examination to whith
attention should be drawn in this report in order lo enable a proper understsnding of the financial statements lo
be reached.
Colm McGrory FCA
Omierod Rutter Llmlled
The Oakley
Kiddemiinsler Road
Dro1￿1Gb
Vvorcesltrrshire
WR9 9AY

THE WELLAND TRUST
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
Unrastrlcted
funds
2023
Unrestricted
fund$
2022
Notes
Income from:
Investments
103.854
112.507
Exp•ndiiur& on..
Raising funds
Charitable activities
Trading subsidiary loan wrSte off
42,266
1,016,090
48,230
1,914.183
8.020
Total expenditure
1,058.35fj
1.970.433
N81 gainslU05ses} on investments
10
988,251
11,332,159)
Net Incomellexpenditur¢l and mov•ment in funds
33,749
13.190,085}
Reconciliation of funds:
Fund balances at 1 January 2023
9.004.513
12.194,598
Fund balances at 31 D•cembor 2023
9.038,262
9,004,513
The statement of financial activttses includes all gains and losses recognlsed Sn the y9ar. All incorne and expenditure
delive from continuing acliviligs.

THE WELLAND TRUST
BALANCE SHEET
AS AT31 DECEMBER 2023
2023
2022
Flxed a$sèts
Tangible assets
Investments
12
13
417,047
7.831.517
427,096
7,736,591
8,248,564
8,163,687
Current assets
Debtors
Cash al bank and in hand
14
825,472
71,559
832.287
315,527
897.031
1,147.814
Crèdito￿. amounts falllng du• wlthln
onè year
15
{107.3331
1306.988
Net current assets
789.698
840,828
Totsl as$ets18ss currènt Ilabllltlos
9,038,262
9,004,513
Incomè funds
Unrestricted funds
9,038,262
9,004,513
9.038,262
9,004,513
The company Is enlllled lo the exempllon from the audil requirement contained in section 477 of the Companies Act
2006, for the year ended 31 December 2023.
The directors acknowledge their responsibilities for cornplying with the requirements of the Companie$ Act 2006
with rospect to accounting records and the preparation of financial slalernenl5.
The members have not required the cornpany to obtain an audit of ts financAal statements for the year in question
in accordance wth section 476.
These finanaal statements have been prepared in accordance with the provisions applicabla to comparu&s subject
lo Ihe small companies regime.
The financial stale
n15 were approved by the Trustees on .
1410'6./14
Ms J Rees
Trustse
Company Registration No. 1113386Q

THE WELLAND TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policies
Charlty Infomiatlon
The Welland Trust is a private company limited by guarantee incorporated in England and Wales. The
regislered office is Craftsman House. De Salis Drive, Hampton Lov&tt, Dro1￿Ich, Worcestershire, WR9 OQE,
England.
1.1 Accounting convention
The financial slatemènls havg bean prepared in accordance with the ¢haritys memorandum and artic￿5 of
association,
the Companie5 Act 2006 and 'Accounling and Reporting by Charities.. Statement of
Recommended Practice applicable lo charilias preparing their accounts in accordance with the FinancAal
Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" la5 amènded for accountin9
{effeGtive 1 January 20191. The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provision5 in the SORP for charibes applying FRS 102 Update
Bulletin 1 not lo prepare a Statement of Cash Flows.
The financial statements are prepared in sleding, which is the functional Currency of the charity. Monetary
amounts in these financial slalements are rounded to the nearest £.
The financial $tatements have been prepared under the historical cost convention. The principal accounting
poli(ies adop18d ar& sel out below.
1.2 Going ¢on¢ern
At the lime of approving the finanryal statements. the trustees have a reasonable expectation that the chartty
has adequate resources to continue in operational existence for the foreseeablè future. Thus the Iru51ees
continue lo adopt the going concern basis of accounting in preparing the financial stslements.
1.3 Charitable funds
Unlestri￿e￿ funds are available for u$8 at the discretion of the Iruslees In fvrtherance of their charitable
objective5.
Restricted funds are subject lo spe¢ifi¢ conditions by donors or grantors as lo how they rnay be used. The
purposes and uses of the restricted funds are $91 out in the notes to the finan¢ial statements.
1A Incomlng regour¢es
Income is reeognised when the Charity is legally entitled lo il after 8ny performance conditions have been mel,
the amounts can be measured reliably. and it is probable that incorne wll be rec8Ned.
Cash donallons are recogniseil on receipt. Other donations are recognised once the charity has been notified
of the ijonalion, unless p8rfomance conditions require deferral of the amount. Income tax recoverable in
relation lo donations receNed under GiftAid or dèeds of covenant is recognised al the lime of the donat￿n.
Legacies are recognised on receipt or olhetwse if the charity has been notified of an impending dislrtbulion.
the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as
contingent asset

THE WELLAND TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policle$
(Continued)
1.S Resources expended
Liabilib"es are recogni5ed a5 expenditure as soon as there is a legal or constructive obligation ¢ommitting the
charity lo that expenditure, il is probable that 8 transfer of economic benefits will be required in settlement and
the arnounl of the obligation can be measured reliably. Expenditure is accounted for on an accrua15 ba515 and
has been classified under headings that aggregate all eost related to the category. Where costs cannot be
directly attributed to particular headings they have been alloc81ed lo activities on a basis consislenl with the
use ol resourcgs.
Costs of raising fvnds comprises of costs incurred durtng Invesllng aclSvi1Ses.
Fund raising costs indude the Costs of goods sold, café costs and their assod81e support and govemance
cost$.
Expenrjfjtu￿ on charitable activities includes costs of providing grants in line with char(table alms and
objectives and their associate support and govemanc8 costs.
1.6 Tanglble fixed a$$ets
Tangible fixed assets are initially measured at cost and subsequentty measured al cost or valuation, nel of
deprecia140n and any impairmenl losses.
Depreaation is recognised so as to write off the cost or valuallon of assets less their residual values over thèir
useful lives on the following bases..
Freehold land and buildings
Leasehold improvements
Fixtuies fittings
Computer aquipmanl
2% slralghl1Sne
330A straight line
339A slraighl line
33% slraighl line
The gain OT loss arising on Ihe disposal of an asset is determined as ihe difference betsyeen the sale
proceeds and tha carrying valua of tha asset, and is recognised in the stslemènl of financial activities.
1.7 Flxed asset Investmènts
Fixed asset investments are initially rneasured 81 tr8nsa¢lion price excluding transaction cost8. and are
subsequently measured at fair value al eath reporting dale. Changes in fair value are recognssed in nel
incomellexpenditure} for ihe year. Transaction cos15 are expensed as incurred.
A subsidiary is an entity controlled by the charity. Control is the powor to govarn the finanaal and operating
polietes of the enlty so 3$ to obtain benefits frorn ils activities.
1A ImpaSrnient of flxgd a$$ats
At each reporting end date, the charity rewews the carying amounts of its tangible a55e15 to determine
whether there is any indication that those a55ets havè suffered an impaimient loss. If any such indication
exists, the recoverable amount of the asset is eslimaled In order lo determine the extent of the impairment
lo$$ lif any).
1.9 Cash and ¢a$h equlvalents
Cash and cash equivalents include cash in hand, deposits held al ￿11 wth banks, other short-lemi liquld
Investments with original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown
wilhin boirowings in ¢utrenl liabiliti8S.

THE WELLAND TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Accountlng pollelès
(Continued)
1.10 Flnanelal In$trumgnts
The charitable ¢ompany only has financlal assets and financial liabilities of a k¢nd that qualify as basic
rinancial instruments. Basic financial instruments ara initially recognised at transaclion value and
subsequently measured al their settlement value.
1.11 Taxation
The charity is exempl from corporation lax on its charrtable activities.
1.12 Provlslons
Promsions are recognised when the charity has a legal or constructive p￿sent obllgalion as a result of a past
event. il 15 probable that the charity wil be required to sellle that obligation and a reliable eslirnatè Can bo
made of the amount of the obligation.
The amount réeogni$ed as a prwsion is the b¢sl estimate of the consideration required lo settle the present
obligation al the reporting end dale. taking Into account the risks and uncertainties surrounding the obligation.
e￿ the eflect of the lime value of money 15 material, the amount expected to be required to settle the
obligation is recogni5ed al present value. Vvhen a provision is measured at present value. the unwinding of
the discount is recognised as a finance cost in net incomellexpenditurel in the period in which il aiises.
1.13 Retirement b•nefits
The char((able company opeTates a deffned contribution pension scheme. Contributions payable to the
chartable company's pension scheme are charged lo the Statement of Financial ActivitTe5 in the peiiod lo
which they r&lata.
1.14 Lea$e$
Rentals payable under operating leases, Includlng any lease incentives receNed, are charged as an expense
on a straight line basis over the lemi of the relevant leasa.
Critical accounting estlmates and judgements
In the application of the charty's a¢¢ounling poliaes. the trustees are required to make judgements, estimates
and assumption5 about the carrying amount of assets and liabilities that are not readily apparent from other
sources. The e51imales and associated assurnplions are based on historical experience and other factors that
are considered lo be relevant. Actual results may differ from these eslimales.
The estimates and underfying assumptions are reviewed on an ongoing basis. Rew5ions lo acwunllng
estimates are recognised in the period in which the ests'mate is revised where the revision affects only that
period, or in the period of the revision and future period$ wh8[• tha rgvision affects both current and future
periods.
10-

THE WELLAND TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DEGEMBER 2023
Income from investments
Unre$trlcted Unrestrlctsd
funds
funds
2023
2022
Diiridend income
Rental income
Interèst recèivable
73.901
12,000
17.953
73,946
12,000
26,561
103.854
112,507
Raising funds
Unrestricted Unreslricled
tund$
lunds
2023
2022
Investment management fees
42.266
48.230
42.266
48,230

THE WELLAND TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Charitable activitiey
2023
2022
Staff costs
Depreriation
Training, re¢ruilmenl and other staff costs
Telephone, postage and stationery
Cornpuler and sollware
Advertising and mat*eting
Rent and rates
Motor and travel
Insurance
Sundries
Premises expenses
Bank charge5
Memberships and subscriptions
190,321
10,690
4,978
2.119
3.460
12,500
4,472
4.546
4.593
148
19.469
17.417
1.258
112,303
12,700
1,608
1.984
3.052
4,282
5.002
4.288
195
15.642
8.758
498
275.971
170,312
Grant fundlng of actfvlllos lseg note 61
726.585 1,733,259
Share of support Costs (see note n
Share of governance costs {see note 71
307
11.227
158
10,456
1,016,090 1,914.183
Grants payablo
2023
2022
Grants to institutions..
Other
725.037 1.691.078
GTanls to indi￿dUal5
3.546
42.181
728.585 1.733,259
12-

THE WELLAND TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Support costs
Support Gov•manc6
co$ts
¢osts
2023 Support C051$ Govèmance
costs
2022
Professional fees
Accountancy fees
307
307
11,227
156
156
10,456
11.227
10.456
307
11,227
11.534
156
10,456
10,612
Analysed between
Charitable adivilies
307
11,227
11.534
156
10,456
10,612
Accountancy fees primarily include £3,900 12022: £3,708} in respect of the Independent Examiners fees,
management accountant lees of £6,26612022.' £5,8831 and £84512022.. £865) in respect of payToII costs.
Trustees
None of the trustees (or any persons connected wrth them) rec&ived any remuneration or benefts from the
tharity durin9 Ihg ygar.
Employees
Number of employees
The average monthly number of employees during the yearwas..
2023
Number
2022
Number
Employment costs
2023
2022
Wages and salaries
Socrdl secursty costs
Other penslon costs
165.808
15,658
8,855
90,535
13,449
8,319
190,321
112,303
The number of employees whose annual remuneration was £60.000 or more (excluding employer pension
costs) warè".
2023
Number
2022
Number
£60.001- £70,000
£70.001- £80,000
13-

THE WELLAND TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2023
10 Net gaIn￿(lO$se$l on investments
2023
2022
Rèvaluation of invèstmènts
988.251 11.332.159)
11 Taxatlon
The charity is exempt from taxation on Ils a¢tivities because all its income Is applied for charitable purposes.
12 Tangib￿ fix•d ass•ts
Frfjehold land
L•a88hold FlxtL¢f85 and
and bulldlngs Improvements
tlttlngs
Computer
equlpmgnt
Total
Cost
At l January 2023
Addrtions
452,419
4.050
2,894
5,768
465.131
At 31 December 2023
452,419
4,050
2.894
6.410
465.773
Depreciation and impairnient
At 1 January 2023
Depreciation charged in the year
27.899
9.049
1.688
1.350
2,667
24
5,581
38.035
10,691
Al 31 De¢gmber 2023
36,948
3,038
2.891
5,849
48,726
Carylng amount
Al 31 December 2023
415,471
1,012
561
417,047
Al 31 December 2022
424.520
2,362
26
188
427,096
14-

THE WELLAND TRUST
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
13 Fixed a¥set investments
Li$t•d
Other
investments Invfystments
Total
Cost or valuation
Al 1 January 2023
Additions
Valual*)n changes
Cash movements
Facility movement
Disposals
7,736,589
1,490,590
988,251
{143.7141
157,665
{2,397.8851
7,736,591
1,490,590
988,251
1143,7141
157,685
{11 {2,397,886)
Al 31 December 2023
7,831,516
7,831,517
Carylng amount
At 31 December 2023
7,831.516
7,831,517
Al 31 December 2022
7,736,589
7,736,591
2023
2022
other Investments cornpri$e'.
Note8
Investments in subsidiaries
20
14 Debtors
2023
2022
Amounts falllng duè wlthln one year".
Amounts owed by subsidiary undertakings
Othér dgbtors
Prepayments and accru8d income
822,785
819.346
11.483
1,458
2.887
825,472
832.287
15 Creditors: amounts falling due within one year
2023
2022
Other taxation and sothal Security
Trade creditors
Accruals and deferred income
8,809
83.705
14.819
6,347
285,1C(I
15.541
107,333
306,988
15-

THE WELLAND TRUST
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
16 Unreytrrcted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are
nol subject to specific conditions by donors and grantors as lo how they may be used. These include
designated funds whlch have been sel a￿de out of unr¢$lricted funds by thg trustees for specific purposes.
At 1 January
2023
Incoming
resources
Resourcès
expended
Galns and
losses
At31
Decembèr
2023
Gengral funds
9,004,513
103.854
{1,058,3561
988.251
9,038,262
Pr¥vlou$ y•ar:
At1 January
2022
Incomln9
r¢sour¢¢$
Resources
oxpèndèd
Gains and
losses
At31
December
2022
Ganeral funds
12.194.598
112,507
(1,970.4331 11,332.1591
9,004,513
17 Analysls of n•t assats bèts¥e•n funds
Unrestricted
2023
Totsl
2023
Totsl
2022
Fund balances at 31 Dacamber 2023 are represented by.
Tangible assets
Investments
Current assetsllllabllS1Ses)
417,047
417,047
427.096
7.831,517 7.831,517 7,736,591
789,698
789,698
840,826
9,038,262 9.038,262 9,004,613
18 Operating lease commitrnents
Al the reporting end d81e the chadty had oulslandlng commitments for future minimum lease payments undèr
nonrycan¢ellable operating lease5, which fall due as follows..
2023
2022
)in one year
3.585
16-

THE WELLAND TRUST
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED>
FOR THE YEAR ENDED 31 DECEMBER 2023
19 Related party transactions
During the year the charity entered into the Idlowing Ir8nsactions with related parties..
Ouring the period, £7,180 P022'. £100) was made available lo Welland Residèntial Hotdings Limited, a wholly
owned subsidiary, for the purpose of purchasing and maintaining properties lo fulfil its principal aclivilies. An
atnounl of £nil 12022.. £17,500) has been repaid during the year, leaving an amount stsll due from the
subsidiary al the year end of £822,78512022.' £815.6051.
During the period, £12,000 12022.. £63,726) was made available to Rees Foundation, a related party. An
amount of £12,000 12022.. £63,726) has been repald durtng the year, leaving an amount outstsnding at the
year end ol £nil {2022.' £nill.
During the p8riod, donations of £830,00012022.. £885,000) were made lo Re&s Foundat¢on. a related party.
No outstanding amounts w&ia due from the related party al the year end.
During the period, training costs of £40012022.. £nill were inc#Jrred from Trauma Infomèd Sèjvices Limited,
related party. No ou151anding amounts were due to or from the related party al the year end.
20 Sub$ldlarf¢$
These financAal statements are 5ep8rale Charty financial statements for The ￿￿lIand TN8t.
Details of the charilvs subsidiaries al 31 December 2023 are 8$ follows..
Nam• of und•rtaklng R•gl$trr8d
office
Nature of business
Class of
% Held
$haros held Direct Indirect
Welland Re¥Adenlial
Holdings Limited
Craftsman House Residential Property
De Salis Drive.
Hampton Lovett,
Droitwich. Engl8nd.
WR9 OQE
Ordinary
sharg
100.00
The agg￿gate ¢apital and reseryes and the resuh for the year of subsldiarie$ was as follows..
Name of undertaking
ProfiUILossl Capital and
ReseNes
Welland Residential
Holdin9s ￿mited
13.1041
(59,2301
17-