2024-03-31-accounts

RECISTERED CHARITY NUMIIER: 1187947 Report of the Trwttts illaDcial Statements for the YeAr Eniled Jl$t MArch 2024 for The F Glenisttr Woodger Tr￿t CJO Shttn Stickland ChJrtered Accoiinlants Sthtutory Aiiditors 7 East Pallant Chiehester West Sussex P019 ITR

The 11 Gltnister Woodger Trll5t CIO Coiiteiit$ of the Financial Siglemeiit5 for tlie Year Ei nded 315¢ March 2024 Page Report of the Trustees Report of the Independent Auditors Stolern¢iJt of Flnancial Activitles B141ante Shett 10 C¥5h Flow Statement Note5 to the CAsh Flow St%tem¢nt 12 Notes lo the FinAnelal Siateinents 13 to 21 Detailed Stxtefftent of Fin*nciAI Aetiviti¢s 22

The F Clenister Wood%er Trust CIO Repor( of the Triistees for the Year E4 nded 315t Mareh 2024 The trustees present thcir report Wlth the financiAI s¢ateTnents of the chaTity for th¢ year ended 31st March 2024. The ttustees h1< ve adopted the PTovisions of Accounting and Reporting by Chllriti¢s'. SLa*ment of Re¢omn)cnded Practi applicable Èo charitie5 preparing their accounts in accordance wtth the Fitwicial EieportlD8 Standard applioble in the UK and Republi¢ of Ircland (FRS 102) (effeciive l January 2019). OB.JLCTIVF.S AND ACTIVITIES Objective5 xnd Aims Thc Dbjcctives of the Charity are the promotion of such objects or purpose5. which are exclusively ehftritable according to thc laws of England and Wales. as the trustees Shall in (heii absolute discretion frorn time lo Éime determine. Without prejudieL to the generality of ihis statement the Charity also promotes objects OT PUTposes which are exclusively charitable. and which provide a general beneflt for the people of West Wiltering. The trustees manag¢ wtth their professional advisors aDd inve5ttnent adviSOTS a substantial investment portfolio comprising stock, shares and property. which generates inveAlment incom¢ that enable5 the ChaTity to fulfil i¢S objectives. Publle benefit Tlie trllslees confirtn that they have referred to ihe guidan￿ contained in the Charity Commission's general guidanc¢ on piiblic benefit when reviewing ihe Charity'5 aims and objwtives and in planning future Activities and selling the Grant Making Policy. Tlie trustees wish to ¢nSUte that the widesi possible public benefit 15 secured within the paTametet3 Sel down in the Congiiiuiion. Tliey achieve this by ¢on.%idering all applications submitted ￿ them and consciously seek to make grants to a wide range of Charities that improve the qualtty of life. STRUCTURE, COVERNANCE AND MANAGEMCI NT Gov¢riiin¥ Jocumeiit The Charity was established as a Fotlltdation Charitsble Incorporated Organisatioii {CIO) with a Constitlllion registered on 13th February 2020 (Charily Number 1187947). Assets And liabilities On 5th April 2020 all the a￿ts and liabilitie5 of -Th¢ F Glenister w￿lger Trusi {an 41nincorporNted Charity, registration n41Tnber 802642) w¢re transferred to this Charity. Trustees The statutory ￿Wer of appointing new or additional tn]s¢ees is exercisabl¢ by the trustees. In selccting individuals for appoiniment as tnistees, the Chariws trustees have r¢gth to the skills, knowledge and experience needed foT the effective a(Itninistration ofthe Charity. Trus1¢¢5 are appoint¢d for a term of three years and uEx)n reliremenL are ¢li8ible for reappointmenL OD 15 Marth 2024, StUaTI Dobbin was re-8ppoinl¢d for a lurthei ierm of three years. Orgaiii5ational 5triicthirt The L'harity ha5 no staff. Thc trustees make all deci5i0DS ai iheir quarierty illeelin¥s wliere the ChillTman's iii(eri actions are also ratified. I'he Charity has underlak¢n a review of its govcmallce using the Go￿{ GoverD8nce Codc for the Voluntary and Cominiinity Seclor piiblished in Juth¢ 2005 and is satisfied that il meets the key rKiiiciples conlained in the C(Kle. PHLie I

Tlie F Glenister Wood%er Trust cto Report ol the I'rustets ror the Year Emdtd 31st March 2024 STRucfuRE, GOVERNANCE AND MANACEMENT Induction And tralning of new trustees New tt'uslees Tective iraining from the Charilys prof¢ssional advisors and the existing tn￿tee5. This training includes ensuring an understanding of the risk review, portfolio oltnyestsnents. finances pnd b￿er1¢1ary selection. Risk ￿anAgement Tht trustees have assessed the major risks lo which the Charity is exposed and art satisficd that systems are in place to manage ihose risks. On an ongoing basi5, the Itustees have reviewed the operdtional and rtnancial Tisks &%sociaLed with the management of ils pioperty and investment portfolios. I'he rtview of the Tisks associawl with the inv¢stment Ex>rifolio is continuous and. to date, the trustees have exa¥nined the investiTrent management options and d¢cided to adopt a medillmthigh risk option. Conflicts ol int¢r&sl The tru51ees Teview any conflicts of interest that exist a( their quarterly meetirg5 and are in the process of updating th¢ r¢gi51er oltrustee interests. ACHIC4 VEMEI NT AND PERFORMANCE Cliaritgble activitles Prop¢i'ty In July 2024, the construction of iwo new houses in East Wittering was completed and, during the year. two two-b¢droomed flats in West Wittering. were purchased. All these properti￿ are occupied by tenants who have local co1￿¢¢t19￿$ and were in housing need. As at th¢ date of this reporf. Ihe Ttvst was in the r]]ial slages of the sale of a residential property in West WitteTing. As a result of & repon from the Trllsrs prolessional advisers. trustces identified the retention of tliis property as not being in the best interests of the chaiily. Onc¢ sold, the fund5 will be re-invcsted in other propety betier suited to the needs of (he charity. The Charity is pleas¢d with the yi¢l(ts being obthiE)ed on the property p)rtfolio. The Charily carries out a continuous review of its various properties including those inherited from the estate of G F Woodg¢r. Inveslrnent performance Over the yeai. the portfolio delivered rctum of 9.5/0. a pleasing outcome wlien compared with the ben¢hFnarks used to assess performance The primgry drivel of thcse Tcturns h￿( COTne from sharp Tises for stt)ck ma￿ets, with solid returiis for the calendar year 2023 being ¢xtended into the firsi quarter of 2024. In April 2023, the portfolio'5 exposure to Fixed Income stocks was incre&*d by a redueiion in US Equity stocks. June 2023 S¢iW D reduction ID th¢ investment in Altemative5 ill favour of Cas]L in the foTm of money ma￿Cl funds. In December 2023 there was a redllcLion in the UK Equity element of the wrtfolify. AS alw<iyS, signific1￿t etroTts were made during th¢ to protect the level of income received by the wrtfolio and dists'ibuied io the Trust. Disiriblltions totall¢d £748.082 oqualing to a yield of 8ppn)xiThalely 3.60/0. Tlie Charity is ple¢ised wilh the p¢rfonnanee of its portfolio. There is regular trading, and trnstees examine these piii"chasL% and disposals wilh a view to reductng transaction costs witliout affecting the uverall value of the porifolio. Grant Iiindiiig During th¢ year, the Chariiy distributed, or committed. £1,576,476 in wnts to local charitie5 and O￿la1115a[IonS praviding benefits for local inhabithnts. -rhe Charity continued to provide support for lo¢a] thildreD, young pcople and young families and made fU1th￿ Liraiits lo impTOYC OPPOTtuni(ies for l¢aming. play. tnental health and wellbeing al local schools. clubs and other facilities used by yoiinb people. Lraiits werc made to Orgvani￿lIotts providiiigj support foi those living w%th demcntllc. and tli¢ir carers. l.'inan¢ii¢1511pporl was giv¢n to organi51< Isons offering the oppottunity for people of all ages to participate in s)x)ri a]id exercise. (ifc1nts w¢i'e also Inad¢ to organi581ions dedicaied ￿ proteclin& atjd eiiliancing, the ncllural environment in W¢st Witterinbi iiiid adjoining areas. Pa¥e 2

The F Glenister Woodger Trust CIO Report of the'l-riistees for tlie Ytar Fnded 315t Mfireh 2024 FINAiYCIAI, RF.vifi.W Investrnent poliey and objectives The tru%tees have full unrLstricted powers of investmenl. The WFlicy ofthe is io inv¢st in a jpnge of invesknents which arc designed to provide a balance of income aTrd C￿lt￿ growth. Investments are managed thn)ugh appoinled inyesitnent advi50r5, who have the discttlion to manage Lhe portfolio within the agreed risk profile. Asset cuver for fuiids The assets are sufficient to meet the Charity's obligation5 on a fimd-by-fund IM%is. Note 14 sets an analysis of the &88ets dÉ(iibuthble to th¢ various funds. Retserves poliey The trustees have reviewed th¢ Charitls need for the reseryes in line wilh the guidance issued by the Charity Commission. Though the truste&s consider tliat the invesknents and bank ￿lanCeS held in funds are grcater th[￿ ar¢ required for ihe current needs. they consider that they will be required if there is to be (urther developTnent of the Charity's activities. li is polTCy to distribute the substaniial part of the unrestricted income in the year but to retain A proportion to fund fu(ure repairs lo th¢ property Fortfolio, which by IheiT nature are unknown. The nei deficit beFoTe investment gains and losses on UnTestricted funds w&$ £168.006. The level of grants paid Oilt will always depend on the quantity aTMI quality of applications re￿]Ved from relevant bodies aiid to ensiire thic t SLI￿]Cient funds are retaincd to et)able the Charity th meel substantial future appli¢atioiis from woiihy caLises. During the year. thc Charity has given preliminary consideration to projects in the local ar¢a which could require substanliii I grant funding in fiiÈiire y&2rs. No provision hL8 be¢n made in these fiDancial statements for these poiential gTants. Total investment gains for the year on list¢d Inveslments were £1.077.412. Unrealised gains during the year were £1,063.406 and total realised gains during th¢ year were £14,006. The financial position of the Charity is considered satisfactory, #nd the Cbarily should be able to Ineet its obligations. FUTUIIE PLANS It is the iiilttntion to continiie to fund life-enh<1ncing projecis and to do this. StreA￿then further the portfolio of income prodiicingi asse(s held. Trustees will continue the review of tK)licies and procedures and will commencE EL IEview of adTninistrative and prolessional siipport services. As evcr, trllstee Succ￿10n plani)ing will be pemanentSy (m the Pag¢ 3

The W Glcmister Woodgtr Triist CIO Report of tl)¢ Tru$tee5 for die Year Ended 31st March 2024 REFERENCE AND ADMINISTRATIVE DETAILS R¢gistered Clidrity NuThbtr 1187947 Principal address The Pavilion Rookwood Road Wesl Wittering Chichester West Susscx p￿0 gTL Tr115tees S F Dobbin ChaiTman W Fl Craven Mrs R J Gentle MEIE A B Gregoi'y M l. Irwin-Brown Mrs S l.illywhite (appointed 21.6.24) Mrs M 'l'homp30n Aiiditoys Sheen Stickliind Chi1rtered Accountant5 Slatulory AuditOTS 7 E4aSt Pallant Chi¢hesl¢r Wtst S'ussex P()19 I'l'R Solif itQTS 1'rethowan.% LLP The Pavilion Ilotleigjh Grange Business Park ledge End Souihatnpton S030 2Ar F13 Solicitors Siiile I, lThe Old Pig Styes Brighthanis l.'arTn Bine5 Road l)arlriilge Gre¢n West Sussex RH13 8EQ Page 4

The F Clenisttr W(K>dger Trust CIO Report of the Trustees for the Yeai. Ended 31st Mareh 21124 REFERENCE AND ADMIf+lISTRATIVE DET AIIS Bankers Handelsbanken The Orangery 40 North Str¢et Chi¢he51er West Siissex P019 ILX Barclays Bank plc 74n5 East Street Chichester West Sussex P019 IHT Investment Advisors Rowan Dartington & Conipany CityTowcr 40 Basinghall street London F,C2V 5DE Property Advisor$ Flellier l.angston Unil ri, reham Heights Siandard Way FI￿charn P0168XT Page 5

I'he F Glenister Woodger Trust CIO Report of the Trustees for tht Yoi)r Ended 31st March 2024 ,STAT£MC4 NT OF TRUSTEES, RESPONSIBtLITtES The tnistc&% are Ttsponsible for preparing ihe Report of the Trustees and (he financial statements in Accordance with applicablc law and United Kingdom Accounting Standards (United Kingdom Generally A¢ccpled Accounting Practice). The l&w applicable to charities in England and Wales. the Charitie5 Act 2011, Charity {Accounts and Reports) Regulations 2008 and the provisions of the Constitution requires the to prepare financial 5tatrments fDr each f2naneiiil year which give a trne and fait view of the state of affaiTS of the charity and of th¢ intoming resources and application of resour¢¢s, including the ir¢com¢ and expenditure. of the chariiy for that period. In preparing those financial statements, the trustees are requir¢d to selecl suitsble accounting poli¢i¢5 and then apply them consistently. observ¢ the metbods and priD¢iples in the Charity SORP. make judgeinenls and estimal¢s that are [￿lOn￿ble and pNdeDL Slate whether applicable accounting standards have becn follow¢d, subFct io any material depa[￿re$ disclos¢d and explained in the financial statements- PTepare the financial statement5 on the goit)g concern b&sis wil¢ss it is #)appTopriate to presuJne that the charity will continue in business. The trustees are responstble for keeping proper aC￿unting records which disclose with reasonable accuracy a¢ any time the financial position of the charity and Èo enable th¢m to ¢n5uro thai the flnancial statements comply with the ChaTities Act 2011, the Charity (Acc4>unts and Reports) Regulations 2008 and the provisions of the ConsLitUlion. They &iE also responsible 101. 5Afeguarding the assets of the charity and hence foT taking reasonable steps for the prevention and detection of frdud and other I￿¢g￿laritiCs. Approved by order of the board of trustees On sigs)ed on its behalf by.. S F Dobbin- Trustee

Report of the Ilidepeiidenl Aiiditor5 to the Triistees or Tlie F Gleiii$l¢i' Woodger Trust CIO Opillion We have audited the financial statements of The F Glenister Wo(bdger TN# CIO (the charily,) for ihe year ended 3 1st March 2024 whith compTlSC the StatCTnent of financial Activities, the Balance SheeL the Cash Flow Statement and notes to the finic ncial statements. including a siimmary of Si￿7r1¢an[ aceouniing policie5. The fit)ancial reporting framework that has been applied in their preparation 15 applicgble law and United Kingdom Accounting Siandards (United Kingdom G¢neTally Acttpted Acci)l￿ting Prkdice). In our opuiion th¢ financial stA￿ellts= give a true and fair view of the state of the charity's atTairs &s ai 31st March 2024 and of its incomin# resources k)nd application of resources. foT the year then ended- have been pmperly prepa￿d in accordance with United Kingdom Genernlly Accepted Accountingw Pra¢ti¢e,' and have bocn prepared in accordonce with the requirements of the Charities Ad 2011. Bo5is ftsr oplnlon We condllcied our audit in accordance with International StAtkdards on Auditing (UK) (ISAS (UK)) and applicable law. Oiir ressx)nsibilities undeT those S￿ndardS ar¢ further described in the ALtdilors' responsibilities for the audit gf the financial statements section of our report. We are independent of the charity in Accordance with the ethical reqiiirements that are relevant th our audit ol the financial statements in the UK, including the FRC'S Ethica] Standard, and we have fulfilled our other ethical responsibilities in accordanc¢ with thesc reqiiiTements. We believe that Lhe aiidit ¢vidence we have obtained is sU￿1¢1ent aDd appropriate to provide a knis for our opinion. Concliisions rclatiiig to going eoiieern In auditing ihe finaiicial statements. we have ¢oncluded that the twstee5' of the going concern basis of accounting in the preparniion of ihe finan¢i81 statements is appropriate. Based on the WOTk we have perfome¢ we have not identified any material UN￿rtaInti¢5 relating to events or condilioTrs that, individually or collectively, tnay cast significant doubt on the charity5 ability to continue as a going concem foi. a period of at least twelve months from when the fiDan¢ial statements are authorised for issue. Our responsibiliti¢s and the resw)nsibilities of the truste¢s With r&%pecl lo going conceni arc describe41 iii the relevant sections of this report. Other inform#(ion -rhc tru.%tco% ure responsible for the other infomiaLion. The other snforniation compris¢$ the infonnation included ill (h¢ Aniiiial Report, (Trther than the r]nyncial staiemenls and our Report of the Independent Auditors thereon. Oiir opinioN on th¢ flnaneial statements does not covv the o(her infornkation and. except 10 Ihe extent oth¢rwise explicitly skited in our repo¢ we do not express any form of assurance conclusion thereon. In ¢onnection with our audii of tlie financial staternen￿ our Kspot]5ibility is to rrad the other infortnation and, iii doing so, consider wh¢tlier the other infomialion is maL¢rially inconsistent with the finan¢iAI Sta￿MenTS OT 0111. knowledgie obtained in the audit or otherwise appears io be materially tniss(atsd. If w¢ ideniify such material inconsislcncies or app&T¢nl matericll misstatem¢nts', we are requireA to determine wheiher this givcs rise to a matcrial rnisstatemcnt in the financial statements tliemsolve.%. If. based on the work we l)ave perfomied. we coiiclude tliat therc is a materiAI mi￿1<?teM¢￿t of this other infonnation, we are required to report that facl. We have nothing to report in this regAI'd. Mljllers 011 )vhith we are required to report by exception We h¢ive notliing to report in re.%pert of the followin&T m1( tiers where llie Charilies IAccounts and Ileports) RegLilatioiis 2008 reqUI￿S us to rewrt lo yoii if. in our opinion-. the infoiTnalion giv¢th in the Rey)rt of the Tn￿lee$ is iiiconsistent in any material respecL with the fiDaTrcial stateiiienls; or soffiGient accoiillting Tectsr(is have not bf*n kept. or the fiiiancii¢ l stat¢menls ¢ire nol in weement willi the o¢¢oiin(ing records arKI Telums. or we have not received i￿1[ the inforinatioll and cxplanatI￿lS we rcqiiirc foT our audiL

Report of the Independent Auditors to the Trustees of The F Gl¢nister Woodger Tru8t CIO R¢sponsibilities of irustees As explained more fully in the Statcm¢nt of TTUSt￿S. Responsibilities. the tyustees are resT￿m￿1b1¢ for the preparution of the financial statements which give a true and fair view, wld for such intemal control as the trU￿Ces detertnine is nec¢%sary to enablc tlte preparation of financial statemenL8 are free frixn material misslatemenL whcther due to fraiid or error. In prep1£ Ting the flnancial 4t2tements. the tTUStees are responsible for &ssessing the charitys ability io Continue as a

ijing concern, disclosing, &$ applicable, matters related to going concem and using tlie bioing concern basis of

counting iinless the tNsiees either inl¢nd ￿ liquid￿¢ th¢ tharity or to cease q)eraiioTrs, or have no realistic alternative but to do so. Our respon.%ibilities for the #iidit oflhe fiThan¢iBI statejnents We h8vc been appointed as auditors under Section 144 of the Charities Act 2011 and report in attordance with the Act aTid relevanl Tegulations made or having etfect thereunder. Our objectives are to obrain reasonable assurdnce about wh¢th¢r the financkAI s(atements ￿ a whole ate free from maLerial missiaiement, whether due lo fraud or error. and to issue a Report of the Independent AudiLotS that in¢ludes ur opinion. Reasotkable &%SUTance is a high level of &5suraDce, but is not & guardnke that an ¥udil conducted in a¢cordance with ISA$ (UK) will always delect 14 Inaterial misstaternent when li exists. MissLttem¢Dts can arisc from rrdud or error and are ¢on5tdered material if, individually or in the aggregatr. they could relsoiiably be eKpe¢ted to inlluence the economic decisions of users taken on the basis of thcse financial %latements. The ex(eni to whiLh OUT procau￿$ are capable of dete4ting iTregulari(i&K iDcI￿ling fraud is detailed below.. enquiry of m<inagemenL those charged with governance aDd th¢ cntity'5 Solici￿[S around acwal and potential litigation and claims- enquiry of entity's staff to identify any insthnces of non-¢ompliknce with laws and regulaiions- reviewing ininiites of meetings ofthose chargcd with govemance,. reviewiiig financicll statement disclosures and tesling to siipporting documentaiion to as585s tompliance with applicable laws and regLilations' and (￿d]ling the risk ofmanabjemenl overrÈde of controls including through iesting journal entri&s aiid other djusLments for appropriatEness, and evaluating the business rationale of significant tratwtion5 outside th¢ norinal course of busine&8. A fuTther description of our ￿PonSIbl[l￿¢S for the audit of the financial swements is located on ihe l.'inancial Rewjrting Coiincil's website al www.frc.org.uklauditorsrespon5ibilities. This description fonns part of our Repori of th¢ Independent Auditors. U%e of uiir i'eporl Ihis repoi't 1.4 Tnade solely to the charity's truste￿. as a body. in accordance with Part 4 of the Cliarities {Accounts ai)d Reports) Regulations 2008. Our alldit work has been undortaken 50 that we mighL slate to the cliarity's tritstees those m£11￿rS we are requir¢d 10 state to them in an auditors. report and for no ouier PUTpose. To the fullesi exllnt petn)itled by law, we do not accept or 3%8iime rnsponsibility to anyone other than the charity Bnd the charity's (rustees as a body. for our audit work, for thi5 Teport, or for the opinions we have fomicd. Slieen Stickland Chartcrcd Accountants Slatiiloiy Aiiditors Chicliesler IV¢sl Sussex P019 1'fR dte.. Page 8

Thc F Glenister Woodg¢Y Trust CIO StAt¢ment of Fin&ntl#l Activitie5 for the Year nded 31st March 2024 2024 Tothl fLtnds 2023 Total fuDds Unrestricted Endowment nd fund Notes INCOME AND ENDOWMENTS FROM Investmetlt income 1.741,267 1741267 1.582,381 EXPEINDITURE ON Raisin&i funds 316.589 316,589 214,925 Charitsiblt activitie5 Grdnt funding 1,592.684 1592,684 812350 Totsl 1.909 273 1027 275 Nei gainsl(losses) on investments 1077412 1.077.412 328 8421 r£,T INC"OME Other recognised gaiiisl(losses) Gainsl(Ios8¢s) on rovAILiaiion of fixed &8sets 909,406 909,406 226.264 3,316.685 Net moverneiit in lunds 909,406 909.406 (3.090,421) RLCONCILIATION OF Tr"UNDS Total funds bi'oug7ht forward 43.432.157 4229,445 47,661,602 50,752.023 TOTAL f¢UNDS CARRIED FORWARD 44,341.563 4,229.445 48.571.008 47 661602 The no￿5 fomi part of these financial Slatetnents Pggje 9

The F Glenister Woodger Trust CIO alanee Sheet 31st March 2024 2024 2023 Total fund$ Unrestrict lund Endowment fund fun(ts Notes IXED ASSEITS Tangible asseis Investments Investments Invesiment property 1.700.01)0 1.700,0 1,700,000 20.611.540 10 21789046 20.611,540 26,018.491 19,499.993 25,236.359 4229 445 44.100,586 4229.445 48.330,031 46,436,352 C.URREI NT ASSEI TS Debior.4 C&%h at bLnk 251.601 1616844 251.601 1616844 263,013 1981.430 1.868.445 1,868,445 2,244,443 CREDYTORS Amounts falling diie within one year 12 {1,490,￿1) (1,490,901) (773,125) NEIT CURRCINT ASSFTS 377.544 1471318 TOTAL ASSEI TS LESS CURRLNT LIABILITIES 44,478.130 4229.445 48,707,575 47,907,670 CRI4 DITORS Amounts fallingi diie afteT ItLore than on¢ year 13 (136.567) (136.567) {246,0681 NET A&srrs 44 341.563 4,229 445 48.571,IM)8 47.661,602 FUP4DS Unr¢.4triLted funds EndowtneDI funds 14 44,341.563 4,229.445 43,432.157 4,229 445 I'OTAL fi UNDS 48 571 008 47 661602 rinc1llcil1l st1iteTn¢nts were xpproved by the Board ol I'rnstees and aUthori￿d for issue .knX?... and weir siuied on its behalfby.. S F Dobbin- Irustee W H CTavell - Twsiee The notes fomi Emrt of these financial s(diewncnL Page 10

The F Cienister Woodger Trust CIO C2sh fi low Stateinent for the Year Ended 31st March 2024 2024 2023 Notes Cash flows from operating activitie% Cash gerterated from operations 322.171) 375 129 Net cash (used inyprovided by OP¢Tating &Ciiviti& 322.171) 375 129 Cash flo￿$ from investing activities Purchase of fixed asset inv¢$tn]ents Purchase of investment property Sale of fixed asset investments Sale frf investment property InteTeSt re¢civ¢d Dividends reccived (10,826.734) (782,132) 10.792.599 (6216,346) (840.582) 4,218.243 1.698.685 8.345 593 768 25.770 748,082 Net tash used in investin&y activities 42.415 537 887) Change in cash aiid equlvaleiits in the ￿pOrt}ilg period C'asli and cRsh cqiiivalents At tlie beginning of thc reporting period (364,586) (162.758) 1.981430 2 144 188 Cash cfi5h eqiiivAlents at the end or th¢ reporting period 1.981430 The notes fonn part of th¢se financial siataiictsls Page 11

The F Ckni$ter Woodger Trust CIO Notes Iv the C#sh Flow Statemeiit for the Year Ended 31st M&reh 2024 RECONCILIA'I'ION OF NET INCOME TO NFT CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 N¢t illcome lor Ilie reporting period (as per the Statement of Fin#ntl81 Activities) Adjustments fnr: (G£linyIoss¢s QD invttstments Interest receivcd Dividends received Decre￿ in debthrs Increase in creditors 909,406 226.264 (1,077.412) (25.770) (748.082} 328.842 (8,345) (593,768} 1.14,375 287761 608 275 et eash (used in)Iprovided by operations 322.171) 375,129 ANALYSI.8 OF CHANGES IN NET FUNDS At 1.423 C￿h flow At31.3.24 Net eash Ca.8h at bank 1981410 1616,844 1.981430 364,586) 1.616,8ty1 Total 1,981.430 364 586) 1616 844 The noies fonn part of thcse fiDancial statem¢nlS Page 12

The V C.lenbter Woodgcr Trust CIO Notes to tlie Finatici#l St#lernents for ¢he Ytdir E4 nded 31st March 2024 ACCOUNTING POLICIES B#si$ of preparing Ihe financial sta¢ernents The cial statements of the charity, which is a publi¢ trnefit entity undff fRS 102. have b¢en prepared in cordance with the Charitie5 SORP (FRS 102) 'A¢counting And Reporting by Charities: Ststement of Recommended l)racti¢e applicable to chariiies preparing their accounts in accordance with the binancial RepoTling Standw'd applicable in the UK and Republit of Ircland (FRS 102) (effective l January 2019}', l.inan¢ial fieporting Stsndard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. Thc financial sthtcmcnts have been prepar¢d under the historical cost convention, with the exception of inveslfflents which are included & market value, as m¢)dified by the reYaluLtion of certain a&8ets. liicome All income is recognised in the s￿￿ent of Fiiiancial Activities once the ch3Tity has entitle]nent to the fvllds, it is probable Éhat the income will be received and the amouni wi be measu￿d reliably. IlJxpenditure LiAbilitl&g re recognised as expenditure ¢lS soon as there is & legal or constructive obligation committing the charity lo that expendtture, it is probable th￿ a transfer of economic kiiefits will be r¢quiitd in setilcmtnl And the amount of ihe obligation can be measured reliably. Expenditure is accounted for on an accruals basis Jnd hlls been cl&%sified under hcadings Ihai aggregate all cgst related kn the ategory. Wher¢ costs cannoi bc directly ltribuL¢d lo particular headÈngs ihey have allocalL*I io activilies on a basis consistent with the use of resources. GraDts offered subject to conditions which have beet) met ai the yeaT axl dat¢ Bre accrued as expenditure. All expenditUTe is Attounted for i)n an accrucils basis and has b¢en classif￿d under headings thal aggregate costs Irlciled to that categnry. Where costs Cannot be directly aitributrd to particular headin&s they have been allocated fLCtivities on a basis consis￿nI with the use of resour￿. CJ(>VtI-nanee eosts Ctsmpi'iscs the costs of goY¢mance arraThgemenL whsch relatr ￿ the g¢nerRI running of di¢ TrusL. Tangiblc fixed a&￿tS Depi"eciation 1% provided at the following annual ra￿ in OTder io write otr eacli ys5et over its estimated Liseful Fr¢¢hold propety Land not provided not provided Freehold property und Icind is not depreciated. An HnTrual impairEneni review is und¢rtakEn by the trllstees in resFrtct of the properties. Assets purchased or donated with a cost or value exceeding £2,500 are capithlised. Iiiveslmeiil property Invegtinent property Ès shoiyn at inost recent valuation. Any [l￿regate surplus or deficii arising frorn ¢hanEes in maiket value is transferrcd (o the Statcmcnt or rin42ncial Aclivities. An annual impairinenl teview is undertaken by the Irustees in respect of properties. Investnieiits Fixed a&5et investiiienls •Te slated al market valiie at the balance sheei date. Thc StAtemeni of FiiiAii¢ial Activities iiicliidLs tl)e nel gains and losse5 arising on revaluatiorb5 and disposals Ihrougliout th¢ y¢ar. TaxA(ion 'I"hc'l rii%t is exeinpl from tax on its charitable ac(ivilies.

I'he F Cpl¢ni$ter Woodger Trust CIO Not¢s to thc Fin4nciHI Sknt¢ments- continued for the Year Ei nded 31st March 2024 ACCOUNTING POLICIES- continued Fund accounting Unrestri¢ted Fund The unreStriL￿d fund consists of money settled in the Trust by the £stat¢s of G F Woodger. F J Marston and Mrs B Pollak deC￿ed. Expendable Endowmeut Fund The expendable endowment fund consists of rnoftey seltled in the Tn￿t by Ihe estate of fj F Woodger. The capital of th¢ Trust fund can be expended providing the tmstc¢s unanimously decide there are particular lE￿onS for expending capital. INVESTMENT INCOME 2024 2023 Rents rpKeivable Income froTn listed inv¢sim¢nts Lease t¢rniinatiotts and ext¢nsions InÉere5t Teceivable Other income 967,415 748,082 870,456 593,768 109,812 7,023 23,600 1.741267 1.582381 RAISING I"UNDS liive5tment maiiagement costs 2024 2023 Property maintenance cost Professional fec5 for prop¢rty Thanagement Leb)a] and prolessional fees for pioperty management 227,314 71,205 125,229 79,104 316,589 CHARITABLE AC-I'IVITIFS cos'rs Grant funding of tivities (see note SupporL costs (see note 6} 5) Totals Grdnt funding 1.576,476 16,208 1,592,684 GRANTS PAYABLE 2024 2023 Grant fiinding 1.576,476 766,938 P0¥e 14

The F Gknister Woodger Trust CIO Notes ¢0 Élle 17inanciAI StsLtments- eonlinued for tlje Yeai. Cs Rded 31st Mar¢li 2024 GRANTS PAYABLE- Continued 2024 2023 The Academy. Selsey Arun Couttselling Centr¢ Birdham CE I)rimary School Birdham Pre-school Blesma Calibr¢ Audio Cancerwise Challengers- Chichester Youth Scheme CIIASM l University of Southtunpton ChichesteT Bell Tower Youth Drop in Centre ChÈchester Men's Shed ChichesÉeT Rugby F¢y)thall Club Children'5 Bookfest Donninglon Hoiise Care Homc Downview Community Youth Ciroup l Youth Dream Selsey Downview Community Hall E.8rnley Church East Wittering & BTi£ ckleshain P42Tish Council rriends of East Witteting Community Primary School rTi¢nds of West Wittering Primary S¢hotsl rTieniL% of WitteTing Medical Centre Ilorne-starl Chichester and r)istrict Ilchenor Memorial Flall Kent, Surrey & Sussex Air Ambulance Local Pi'iTrary Schools %l'F.M Projeci MtLnliood Mobility VoliinteeT StTvice Parents and Carers Support OTganisaiion (PACSO) PTIL foundation I'regn£incy Options thitre RNIB Ilotary Club of C.hi¢hester Hc1rbour SancliiELry in Chichester Selsey Community Forum Sidlesham l)rimary School Soiiih t)owns National Park Trust South Downs Planeiartum Spinal Injiiries A550Clalion Sl Peierfs Roman Catholic Church Hall Si. Wiifi'id's Hospice 1'uppenny Barn Universiiy of Chich¢st¢r UnlvL Walking with Ihe Woiinded W&51 Wiiiering th'icket Club West Wit¢oring Meinorial Hull West Wittcring I'ari5h Coiincil Wcst Wittering Parochial Chiirch Couiicil Wesl Wiiiering P￿TOchial Sch(K)I Wiiieringj United Football CILib Youth Dream Selsey 500 40,000 15,000 2.IM)O 15.0(Kl 15,000 500 4.140 12.000 3,000 75,000 1.500 10,000 60.000 60,000 828 10.ODO 2,104 59.OIM) 1,500 1,749 25,000 136,606 12,500 50,000 25,000 285,000 27,500 310.000 375 5,000 1,500 17,500 15.000 2,000 5,000 14,000 10.000 10,000 100,000 15.000 2,000 80.000 10,000 75,000 503,186 468 22,050 2,000 26,450 25.000 100,000 800 92,0(X) 10,000 1,700 650 1586.476 838,388 Page IS ¢oiilinued...

The F CFlenister Woodger Trust CIO Notes to the Finftnci818tgtements - cuntiNued ror the Year Elided 31st Mreh 2024 C.RANTS PAYABLE-￿￿11￿￿Cd Less grants Written iTrff in year 71,450) Total urallts 1576 476 766,938 In some cases, grant commitment5 are agreed by trnstees based on the estimated cost of a project. These cumtnitments al'e kept under constanl review and circumsthnces Can arise whexe amounts previously ￿tognISed &$ expenditure are no longer payable. SUPPORT COSTS Governanc¢ costs tirnnt funding 16,208 It)cludcd in govemance costs is auditOTS ￿T￿llner￿lOn of £I4.100 (2023.. £13.867). TRUSTF,I;.S' REMUNERATION AP4D HF.NEFITS There were no trustees, r¢mwieration or other ￿nefits for the year ended 3 1st March 2024 nor for the year ended 31st March 2023. Trustets, txpens TNstees' expenses represent the payEnent of mileage and Subsis￿￿e Allowwice to trustees during the yeai.. In thc cui'r¢nt y¢ar one triisiÉ was paid for stjbsisience (2023.. thre¢}. All trnstee exp¢nse claims ar¢ supported by ppropi'iatc dooumcntation and are authoTi5¢d. During) Ihe year trnsttts, expenses ainoujited to £7 (2023.. £414). 'IANGIBLE FIXCI) ASSF.TS Freehold prowty Land Totals C'OST Ai 1st April 2023 [￿d 3 Isl March 2024 700.(MK) i.N)(),o(xi C4T BOOK VALUF At 31sl March 2024 I,000,(l(M) 1700,000 At 31st Marcli 2023 7{￿,{K￿l I,000,o 1,700.000 As al 31 Marcli 2024 the historical cost les5 d¢preciation of freehold PrO￿rtY was £225.000 and land was £1,010,513. The market value of land and biiildings was det¢nnined on 31 M8T¢kn 2021 hy both the Charity piDperty ageiits nd siiitably qualified 1rnS￿. Pag¢ 16 coniiiiued.

The F Clenlstcr Woodger TrL15t CIO Notts tu the Finxneial St#teinents- continued fui. Èhc Ytar Ei nded Jls¢ March 2024 FIXF.D A.SSET INVEsfMENTS C&sh and settlem¢nts pending Lisied investments Unlist¢d inveslm¢nts Totals MARKET VALVE At I sl April 2023 Additions Disposa15 K¢valuatlOIiS 18,632,183 5,220,037 (4,877,979) 1063 406 3.952 863,858 19,499,993 5.606,697 10,826,734 (5,900,614) (10,778,593) 1063.406 Ai 3 1st Ma￿h 2024 20 037 647 569.941 20,611.540 NET BOOK VALUE At 31st March 2024 20 037.647 20,611540 At 3 1st Mwch 2023 18632.183 863,858 19 499,99J HisfoRICAL cosr At 31 March 2024 17 322.947 Ai 31 March 2023 16,777 901 Investment assets held are deiailed as follows-. 2024 2023 UK Fiirope North America 14,156,824 2.349,785 3 571038 15.3.16,400 1,860,6n Investments that are material in the context of the investsn￿it portfolio are di*ail¢d as follows.. 2024 2023 Aegon Asset Managemeni Global Equity Income BNY Mellon InvLstmeni Funds Invcsco Funds Mai)agiets Global Equity Incolne M&G Glthbal PIC Miirny Internkltional Trust Pl¢ TM R¢dwheel Glob41 Eqiiity Incorne 1,613.505 1,382,120 1,544,855 1.455,880 1,094.419 1,734.911 1,523,381 2.281.611 940,346 1,390,531 Cosi or valiiation at 3 Is( March 2024 is represenled by= Cash and seiilemciits pending Listed inv¢siments Unlisted investsneiits Totals Valuation in 2024 20,037.647 569941 20611540 Pagc 17 conliiiued...

The fi Glenister Woodger Trust CIO Note5 to the Fin8n¢ial Stattments- continued for the Year F.nd¢d 31st MArch 2024 INVES'fMENT PROPV.RTY riAJR VALUE At I st April 2023 Additions 25,236,359 782 132 At 3 1st Mar¢h 2024 26018,491 iYET BOOK VALUE AÈ 31st March 2024 26018491 At 3 1st March 2023 25,236,359 On 31 Mcirch 2021 informal valuations were carri¢d out on the investmenr pri)perty Pctrtfolio by both the Charity property agents and suitably qualified tn￿le¢s. Fair value at 315t March 2024 is represent¢d by= Valuation in 2024 26 018,491 DEI BTORS: AMOUNTS FALLING DUE WITHIN ONF. YEAR 2024 2023 Diie from Astons Due fi'otll Hellier [￿ngstOn Divid¢llds in trdnsit Accrued interest ljrepayments Slnd accwe41 in¢ome Accriied income 37,854 19,532 122,021 1,188 31,843 9.423 155,773 42,423 43,982 251,601 263 013 -tht I'rust's property advisors, Flellier Langston. and PTDPCrty agenE& Astons. collect the rent on the propeiti&8 owiied by the-lrust. These amounis Jre paid to the Trust at then end of each quarter. 12. CREDITORS.. AMOIIN'fs FALLING DUE WII'HIN ONF. YEAR 2024 2023 VAT Othei. credit(Trrs Accruals c1nd defei'red income 12,533 1,319,967 158.401 12,533 565,313 195 279 1490901 773.125 Other creditoi's due In less than year include coinmilmenls lo pay Lrants in Éhe coming yur to University of Chichester- Ilelpiiig C.hildreii Do Well £68,392. The Acadeniy. Selsey £8,0fr), Chicliester Ilunncrs and Athletic Club £20,000, SI l)elcr's Roill411 Caiholic ch￿[Ch Hall £80.01)O. Unloc £7,350. kni Wittering Thiinary school £27,643, luppenny Barn £75.000, Chichesler Bell Tower Youul Dropin Ceiitre £4,0￿). University of Chiclicster Biomcdi¢al £405,671. Flome StarL ChiLhester & Di8tricl £44,501, PACSO £270,000, Itchenor Memoi'ial Hall £12,500, 1)ownvicw CYG l Youih Dream selsey £45,0(K>, St Wilfrid's Hospice £1 0.000, Kent, Suriry & Siissex AIT Anibiilance £25.(K)O, Birdhatn CE Primary School £ I I,OOD, Maiihood Mobility Voliinleci. ServiLe £12.508, Birdhiiin I'r¢-School £7.500, West Witt¢riDL Parochihl Church Coui)¢il £8,453, Local Prirnary Schools STEM I)roj¢cl £95,000, Yoiiih Dre42111 %¢lscy £2.000 And Wesl Wittcrin&i Parocliial Scliool £1,700. ¢oDiinu¢d...

The F Glenister Woodger Trust CIO Notes to the Fiiiancial Statements- continued for tlie Year EDded 3Jst March 2024 i). CRE4 DITORS: AMOUiYTS FALLING DUE AFfF.R MORE THAN ONE YEAR 2024 2023 Other creditors 136 567 246,068 Other creditors due in more than one year include cojntnittnents io pay grnnts to lJnloc £7.350, Local Primary Schools STEM Project £56,667, Youth Dream S¢15ey £2,000. Chithemer Bell 'fower Youth Drop-in C¢Dtre £4.OOn, Home Start Chichester & Dis(rict £42,550 and PACSO £20.IKM). 14. MOVfMENT IN FUNDS Net moveTnent in funds At 31.3.24 Ai 1.4.23 UDrestrieted funds G¢ntldl fund 43.432.157 909,406 44,341,563 I ndowment fuiids Endowment 4.229,445 4,229,445 TOTAL FUNDS 47,&51602 48 s71.￿8 Net Inovem¢iit sn funds, ineluded in tl)e above ar¢ &5 follows.. Inconjing r¢50urccs Gains and losses Moveinenl in fund5 e￿￿nded UDri*tricteil funds Genernl fund 1,741267 (l,9r￿.27J) 1,077.412 909,406 TOTAI. FIINDS .741.267 I￿273) 1077412 909,406 Comphrfjlives for Inoveinemt in flind5 Net movetnefit in futKIs TrnnsfeTS between fund% AL 31.3.23 At 1.4.22 Uiii'estrictcd fiinds Genet71 fund 47,952.023 (3,289,106) (1,230,760) 43.432,157 En(lowmeiit fund.% ndowment 2,800,( 198.685 1.230,760 4,229,445 TOTAL FUNDS 50 7.52 023 3(I)04211 47,661602

The F CILnister Woodgei. Trusi CIO Notes to the Fin#nci81 StAtemcnts- continued for the Ytar Fnded 31st ￿[*re11 2024 14, MOVEMEI NT Iiy FUNDS- continued Comparative ii¢t rnovcment in fund% in¢luded in the above are as follows= Incoming resources Gains and losses Mov¢m¢nt in funds expended UnrLStrleted funds General fimd 1,582 J81 (1.027,275) {3,844.212) [3,289,106} Endowineni funds Endownient 198.685 198.685 IDTAL FUNDS 1.5K2.381 3 090.421) A curreni year 12 Inonths and prior yur 12 tnonths combined poslthon is as follows: Net ovement tn funds Transfers bdween funds At 31.3.24 A(1.4.r2 Unre$tricted funds GenerEiS fund 47,952,1r23 (2,379,700) {1,230,760) 44,341,563 En(lowmeni funds Endowment 2,800.0(KI 198,685 1.230,760 4.229,445 TOTAI, FUNDS 50,752 023 2.181015) 4X.571,IX)8 A curi'ent yeaT 12 months and prior year 12 months combined net rnovement in funds, incliided in the above are follows.. Incoming resources Resourtes expended Gains and losses Movement in funds Unrestl'iLted Iiinds General fund 3.323.648 (2,936.548) (2,766,8(K>) (2.379,700) ndowment fiinds Endowment 98,685 98,685 TOTAL FUNDS 3.323.648 Page 20 conliniicd...

The F Glenlster Woodgei. Tru$t CIO Nol¢s to tlie Fiiiaiieial Stalemcnts- continiied for Ihe YeAr Elided 31st Mar¢li 2024 15. RKLATED PARTY DISCLOSURLS There were no related party transa¢tlOlls for the year ended 3 1st Marth 2024. Page21

Tlie F Gieni5ter Woodger Trust CIO l)elAiled Statemtnt of Financi#l Aetivlties for the Year F.nded 315t Mareh 21124 2024 2023 INCOMF. AND ENI)OWMENTS Investment ineome Rents rcctivable In¢o]nc from listed invc.8Éments Lease terniinatiODS and exiensions Interest receivable Other income 967,415 748,082 870,456 593,768 109,812 7,023 23,6(K) 2,170 1,741.267 1.582 381 TotRI inco￿l￿g resources 1.741.267 .582,381 XPLNDII'URlf liivestment IR%nagem¢nt costs l)roperty maintenance c05t lJrofcssional fees for prop¢rty management Legal tLnd profession81 fees for property maiiagetnenl 227.314 71,205 125.229 79,104 18.070 316,589 214.925 Ch%r?tAble #etivitie5 Gianls lo institutions 1,576.476 766,938 Support costs Coveriian¢e c05t5 Audilors. remuiieration A¢counLancy at)d legal fees Trusl¢¢ mee(in￿7 expenses Triist adininisiration costs 14,100 13,867 1,224 2,029 28,292 764 16,208 Total resources expended 1.909,273 1,027 275 Net (expeiiditiireyiiicortie befort g#iiis glld 1055e5 (168,0(￿) 555.106 Realised recogiiised 8#ins and losses Realised gFiiins/llDsses) un l)xed 3ssei inv¢stsllents Realised L?ainslllusses) 011 invesiment property 14.006 {558,496) 198685 Nel (cxpeiiditiirellineome 154000 195,295 This pase does noi forni part of the s¢atuÈory financial slAlements l¥ge 22