The Margaret Westwood Young Peoples. Foundation
A Charitable Incorporated Organi$atlon
Reglstered Charity Number: 1208060
TRUSTEES ANNUAL REPORT AND FINANCIAL STATEMENT
YEAR ENDED 5 APRIL 2025
HIGGS LLP SOLICITORS
3 Waterfront Business Park
Brierley Hlll
West Midlands
DY5 ILX

The Margar¢t Westwood Young Peoples. Foundatlon
Index to the Flnancial Statements
Year Ended 5 April 2025
Page
Reference and Administrative Information
3-11 Trustees, Annual Report
12
Statement of Flnanclal Activitles
13
Balan￿ Sheet
14-18 Notes to the Accounts

The Margaret Westwood Young Peoples. Foundatlon
Page I
Reference and Admlnlstratlve Informatlon
Year Ended 5 Aprll 2025
Governing Documents
The Charity is governed by the CIO Foundation
Constitution dated 30 Aprll 2024.
The Charlty is registered wlth the Charlty Commlssio
under registered charity number 1208060.
Trustees
Peter Michael McDonald
Frances Mary Oborski
Sean Patrlck Shannon
Peter Edward Sugg (Chair)
John Wlllièm Roland Thomas
Ellzabeth Boyn5 Tucker
Secretary to the Trustees
Ms K McEwen, Hlggs LLP
Treasurer
Mr N Smith, Folkes Worton
Prlnclpal Offl¢e
Higgs LLP
3 Waterfront Bu51fbes5 Park
Brierley Hill
West Midlands
DY5 ILX
Accountants
Headley Meredith
13 Church Street
Stourbridge
West Midlands
DY8 ILT
Independent Examiners
Folkes Worton
15-17 Church Street
Stourbridge
West Mldlands
DY8 ILU
Bankers
CAF Bank
25 Kings Hill Avenue, Klngs Hill, West Malling
Kent, ME19 4JQ

The Maryaret Westwood Young People5, Foundation
Page 2
Reference and Admlnlstratlve Inforniation
Year Ended 5 April 2025
Solicitors
Higgs LLP
3 Waterfront Business Park
Brierley Hill
West Midlands
DY5 ILX
Dlscretlonary Investment EFG Harrls Allday
Manager
33 Great Charles Street
Bimiingham
West Midlands
83 3JN

The Margaret Westwood Young Peoples. Foundation
Page 3
Trustees Annual Report
Year Ended 5 April 2025
The Trustees p￿sent 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 pollcles set out in accounts and comply with the Charity's Governing
Documents, the Charitles Act 2011 and the Statement of Recommended Prattice
applicable to the charities preparing their accounts wlth the Financial Reportlng Standard
applicable on l January 2019.
Structure, Governance and Management
The Charlty was registered with the Charity Commission on 30 April 2024 under reglstered
charity number 1208060, and is constituted under the CIO Foundatlon Constitution dated
30 April 2024 ("the Governlng Documentl.
The Charity does not actlvely fundraise and seeks to continue the charitable work desired
by the Testator through the careful stewardshlp of Its existing resources.
Nominative Trustees:
Nomlnative Trustees are appointed under clause 9 of the Governing Document for a term
of office of five years. Nomlnatlve Trustees are appolnted by Worcestershire County
Council, Dudley Metropolltan Borough Council and Sandwell Metropolitan Borough Councll
In such numbers as the Trustees determine from tlme to tlme. There must be a minimum
of two and a maximum of four NomSnatlve Trustees.
The Nomlnatlve Trustees for each Council are as follows:
Worcestershlre County Council
Peter Mich8el McDonald
Frances Mary Oborski
Norninative Trustees are appolnted by thelr respective appolntlng Councils for a term of
four years at a meeting convened and held according to the ordinary practice of the
appointing Council. The Chair of the meetlng of the appolnting Councll Is required to
provlde to the Trustees and the Secretary the name and details of the person appointed.
That person need not be a member of the appointing Councll.

The Margaret Westw{￿d Young Peoples, Foundation
Page 4
Trustees Annual Report
Year Ended 5 Aprll 2025
Appointed Trustees
Appointed Trustee5 are appolnted under clause 9 of the Governlng Document for a term
of office of five years, by virtue of thelr special knowledge of the area of benefit, through
residence, employment or otherwise.
The Governing Document provides for the appointment of a mlnimum four Appointed
Trustees and a maximum of eight Appointed Trustees.
The Appointed Trustees are as follow5:
Sean Patrick Shannon
Peter Edward Sugg
John William Roland Thomas
Elizabeth Boyns Tucker
Appointed Trustees are appointed for a term of offlce of flve years by a resolution of the
Trustees passed at a properly convened meeting, of which not less than 21 days, notice
has been glven.
At the Trustees. meetlngs, the Trustees agree the broad strategy and areas of activitles
for the Charityi including consideration of grant maklng, Investment, reserves and risk
management policies and performance.
The Trustees meet three tirnes per year. The quorum at any meetlng Is when three
Trustees, or the number nearest to one third of the total number of Trustees, whichever
is greater, or such larger number as the Trustees may decide are present.
The day to day admlnlstratlon of grants and the pro￿ssIng and handllng of applications
prlor to conslderation by Trustees is delegated to the Secretary,
The Secretary will conslder the monltoring Informatlon concembng the performance of
grants to date and make recommendations to the Trustees concerning the extension,
cessation or suspension of exlstlng grant approvals.
The Trsjstees wlll take account of the recommendation5 of the ICSA best practice gulde
'Recrultment, Appointment and Inductlon of Charity Trustees. should the need to recruit
new Co-optative Trustees arise. The Trustees would look to recrult In Ilght of an
appropriate skills audit of the current Board and taking into account the experien￿,
expertise and dlversity of the current Board, as well as their knowledge of the Charlty's
area of benefit and beneficial class.

The Margaret Westwood Young Peoples, Found*ron
Page 5
Trustees Annual Report
Year Ended S April 2025
New Trustees may be sought by open advertlsement or through a dialogue wlth local
community groups respectlng the ethos of the Charity- To continue the charltable work
intended by the Testator, the Trustees actlvely seek those wSth a knowledge of the local
area when considering any prospertive candidate. The ultimate decision on selettlon is a
matter for the Trustees.
On appobntment new Trustees sign a Trustee Declaration and Undertaking committing
them to the giving of thelr time and expertlse. It also confirms their ability to act in the
role of Trustees. The induction process has been changed to follow the ICSA good practlce
guide with a ft)rmal induction programme for any newly appointed trLJStee being led by the
Clerk, to include initial training in the grant making process, the duties and responsiblllties
of the Trustees and the role of any sub commbttees. The welcome pack includes, amongst
other information and guidan￿, a brlef history of the Trust, copy of recent Trustee (and
sub commlttee) minutes, a copy of the last three years of annual reports an(J accounts, a
copy of the Govemlng Document and a copy of the Charity Commission's guidance 'The
Essential Trustee.. What You Need to Know, and 'Charitles and Public Beneflt,.
The Trustees intend in the upcomlng year, wlth the support of the Clerk, to continue
developing a code of conduct for Trustees including formal statements of roles and
re5pon5ibilities and to undertake work on the Charity Governance Code.
All Trustees glve of their time freely and no Trustee remuneration was paid in the year.
Trustees are entitled to claim reasonable out of pocket expenses and where they do those
are noted in the accounts.
Trustees are requlred to disclose annually (and as they arfse) any potentlal Interests which
might conflict and register them with the Clerk and in accordance with the Charity's written
conflicts of Interest pollcy.
Rlsk Management
The Trustees will consider the major risks to whlch the Charity might be exposed to and
will review those rlsks and established systems and procedures to manage those risks.
The major finandal risk Is the variabllity of investment retums on the portfollo and its
impact on income levels and capital growth. The Trustees wlll actively seek to manage
thos risk by appolnting Charles Phipps of EFG Harris Allday as Discretionary Manager of the
investment portfolio. His role will be to monltor the performance of the portfollo, to take
appropriate action to mitigate any loss to the portfolio. and to ensure that the objectlves
as detalled in the Investment Pollcy Statement are following and reviewed annually.

The Margaret Westwood Young Peoples. Foundation
Page 6
Trustees Annual Report
Year Ended 5 Aprll 2025
The major operational rfsk Is the extent to whlch grants awarded to individuals and
charltable or not for proffit organi5atlons advances the objerts of the Charlty and
demonstrate sufflcient public benefit. The Charity will manage Its risk by retainlng
Trustees of sufficSent expertlse and experience, arbd through the quallty of the institutions
and the people who they support. In addition, the Trustees will rely on the Clerk to
undertake approprlate and proportionate due diligen￿ on appllcations and ensure all grant
giving retain5 a focus on the publlc benefit.
The major regulatory Impact of the Common Reporting Standard ('the CRS?. on the
operdtion of the Charity. CRS is belng an international tax transparency regime almed at
preventing tax evasion. CRS came into force from l January 2016 and the Charity is now
required to provide informatlon about their beneflclaries, tax residency status to HMRC,
who wlll then share this information with the approprlate tax authority in other
Jurisdictions.
The Charity is subject to this regime because it relies on investments for more than 50Vo
of Its Income and those investments are professlonally managed by a financlal Institutlon
under discretionary mandate. This means the Trustees are required to carry out due
dlligence to establish a tax residency status of all beneficiaries, keep records of efforts to
comply with the reglme, reglster with HMRC a5 a ffnanclal Instltution fFinancial
Instltutlon") If they have reporting requirements and report to HMRC If required.
The grant application process Is reviewed annually and the grant appllcatlon form
expanded to collect the necessary due diligence information that is required in order to
establlsh tax residency status of all grant recipients, both Indlvlduals and charity and not
for proflt organlsatlons.
This include5 addltSonal information including tax resldent
Jurisdlctlon, tax identification number (for Indivlduals) and entity status (for
organisations). The Trustees will keep this under review.
Objects and Actlvltles for the Public Benefit
The objects of the Charity are "to advance such charitable purposes (according to the lavw
of England ond Wales) for the benefi't of children and young people living in the Area of
Benefit, as the trustees see fit from time to time, in particulor but not limited to advancing
the education of children and young people and developing their mental, physical. and
moral capabilities by making grant5". The area of benefit is defined as the "the County of
Worcestershlre from tlme to ts'me to include those areas which fell within the County of
Worcestershire on 19th AugLJSt 1946" ('the Area of Beneflt.).
The Trustees confirm that they have referred to the Charity Commisslon's guidance on
public benefit when reviewing the Charlty's objects and in planning future actlvltles and
setting the grant maklng pollcy for the year.

Th¢ Maryaret Westwood Young Peopl¢s' Foundation
Page 7
Trustees Annual Report
Year Ended 5 April 2025
The Charlty wlll carry out its objects by provldlng grants to Indivlduals (for exclusively
charitable purposes) and to charitable or not for profit organisations within the area of
benefit (for exdusSvely charltable purposes) within the Area of Beneflt.
By focuslng on these areas of grant activity, the Charlty wlll achleve Its strategic priorlty
of maintaining an extenslve strurtured grant making programme, balanclng support to
both individuals and institutions.
Grant Making Policy
The Trustees have power to Spend the Income, with the capltal belng retalned as
permanent endowment and not expendable. The income Is expended on an annual basis
In furtherance of the objects.
The Charity will adopt a written grant making policy, which detalls how the Trustee5 intend
to meet the objetts for the publlc benefit, and improve the Ilves of Indivlduals and support
charitable and not for profit organisations {for exclusively charitable purposes) wlthin the
geographical Area of Benefit which the Trustees have estsblished and which they review
on an annual basis. The TrLJStees wlll revlew the grant maklng pollcy annually to ensure
it reflects the Charity's objects and continues to advance public benefit.
The Charity'5 beneflciarles are Indlviduals under the age of 25 who Ilve In the Area of
Benefit and charitable or not for profit organisation5 (for exclusively charitable purposes)
within the same.
Grants will be awarded to indivlduals who can demonstrate a charitable need to support
the costs of educètlonal vlsits or expeditions, the cost of books and other resources, but
not towards the normal costs of education such as course fees or residential c05t5.
Grants will be awarded to charftable or not for profit organi5ations (for exdLJslvely
charitable purposes) for capital projects withln the area of benefit. The Trustees will not
generally meet core admlnistration costs such as staff costs or property costs etc.
The general policy of the Trustees Is not to award retrospectlve grants and the Trustees
retai n a discretion to only consider an application from an Individual or a charitèble or not
for profit organisation (for exclusively charitable purposes) once in any two year period.

The Maryaret Westwood Young Peoples. Foundation
Page 8
Trustees Annual Report
Year Ended 5 April 2025
Grant Making Procedure
Appllcatlons can only be considered If they are on the Charity's stsndard application form.
The application form must be completed and retumed (together with a copy of any
supportlng Information relevant to the application) to the Secretary at least four weeks
before the meeting at which the application Is to be consldered.
The Trustees wlll meet three times a year to consider appllcations.
It Is the poliry of the Trustees to o)nsider grants on an equal opportunities basis,
regardless of gender, rellgion and ethnlc background.
Publlc Benefit
The TNstees confimi that they have referred to the information contsined in the Charity
Commission's general guidance on publlc benefSt when reviewing the Charlty's objects and
attivitie5, their grant making policy and plans for future period.
The objects and activities of the Charlty are largely detemilned by the provislons of the
Governing Documents, and from there the Trustee5 exercise a discretion in considering
how best to rneet the public benefit test and ensure that as many individuals and charitable
and not for profit organisations (for excluslvely charltable purposes) wlth partlcular needs
will gain advantage. Further details of the grants made are set out In the schedule to the
accounts at page 20.
Monltorlng and Ach*vement
During the year the perfomiance ofthe prln(Jpal Investment portfollo was managed by EFG
Harrls Allday on a discretionary basls. It Is Intended that the portfolio wlll show a welcomed
recover and that the long-term objectives to meet income needs and grow the capital are
obtainable.
During the year the number of grant applications considered was O. Grants were made to
O charitable and not for profit organisations (for excluslvely charltable purposes} and O
Indlvlduals.
The grants made to charitable and not for profit organi5ations (for exdusively charitable
purposes) amounted to £0 and the grants to individuals amounted to £0.

The Margaret Westwood Young Peoples, Foundation
Page 9
Trustees Annual Report
Year Ended S April 2025
Financial Review
The Charlty's work is entI￿lY reliant on income and Investment returns from Its capital.
As at 5 April 2025, the market value of inve5trNentS Stood at £0. Durlng the year the
income of the Charlty was £0.
Investment Policy and Performance
The investment powers of the Trustee5 are wide and allow the Trustees to invest funds in
any manner (after taking such advice as they consider necessary) and having regard to
the sultabillty of investments and need for diversbflcation.
The prlnclpal Investment holdlngs of the Charlty comprise funds and portfollos of quoted
securities. As at 5 April 2025, the value represented 100% of the Charity's investments.
The management of the portfolio will be undertaken on a discretionary management basis
by EFG Harrls Allday and the wrltten investment policy is revlewed on at least an annual
basls by the Secretary in conjunction wlth the Snvestment managers and ultlmately
approved by the Trustee5.
The value of the capital account fund as at 5 April 2025 wa5 £0 (clf 2024 £0).
As at 5 April 2025 the Trustees held cash with EFG Harrfs Allday (eamings account) of £0
and cash In the bank wlth CAF of £0.
The Trustees adopted an Investment policy statement on 30 Ottober 2019 whlch is
reviewed on an annual basis.
Reserves Policy
The whole of the Charity's capital 15 expendable and thls distinctior) between capltal and
income is not relevant, The trustees appreciate that the general principles of charity law
require trustees to spend thelr Income within ? rea50nable period of recelpt.
The Trustees wlll set an agreed policy which broadly Identlfles the framework wlthin whlch
the Charlty will operate its reserves. The intention is that the Charity will retaln an
appropriate and reasonable level of reserves whilst concurrently ensurlng that it uses the
income in a rnanner that is within the objects at the best interests of the Charlty and its
benefidaries.

The Margaret Westwood Young Peoples. Foundation
Page 10
Trustees Annual Report
Year Ended 5 April 2025
Since the Charity will recelve all of Its Income from the investment portfolio, the Trustees
are mindful that the source of income can be volatile and subject to sudden changes in the
market. They are concerned that in any year there is a rlsk that they cannot meet their
ongoing administratlon and professlonal expense commitment5 a5 and when they arise,
due to any fluctuatlons In the market which may prevent or Significantly reduce income.
The Trustees will consider, in conjunction wlth the professional advisers, the level of
reserves to retaln from surplus unrestricted funds. They have decided to build up a pot of
reserves equivalent to one year's administratlve and professional expenses but excludlng
grant commitments. This will ensure that should there be any fluctuations in the market
which reduce the income avallable for distributlon, the Charity can use its reserve5 to
contlnue to meet Its obligations and liabilities as and when they fall due.
Plan for Future Periods
The Trustees believe thelr grants wlll translate into significant public benefit. In cementing
the arrangements already in place, and continuing with its current activlties as set out in
thls report, so that the many and varied charitable and not for profit organi5ations, and
Individuals may continue to benefit In real terms from Its flnancial support, the Charity
alms to provlde a longer term commitment and thereby encourage and support Indiviéuals
and charitable and not for profit organisations within the area of benefit.
The intention is to continue a programme of grant giving which will translate into significant
publlc beneff t. The Trustee5 will focus on those individuals and organisatlons who would
benefit in real terms (impact) from its flnancial SLfPPOrt, thus providirbg and ensurlng a
longer-term commitment to support.
Trustees. Responsibilities In Relatlon to the Financial Statements
The Trustees are responsible for preparlng the Trustees, Report and the flnancial
statements In accordance with applicable law and regulations and Unlted Klngdom
Accounting Standards. The law applicable to charltles in England and Wales required the
Trustees to give a true and fair view of the State of affairs of the Charity and of the Incoming
resources and appllcation of reSoUr￿s. Snduding income and expendlture of the Charlty
for that perlod.
io

The Maryaret Westwood Young Peoples. Foundation
Page 11
Trustees Annual Report
Year Ended 5 Aprll 2025
In preparing these finandal statements, the Trustees are required to..
select suitable accounting pollcles and then apply them consistently.
observe the methods and principle5 of the Charities SORP;
make judgements and estitnates that are reasonable and prudent,.
state whether applicable accounting standards have been followed, subject to any
material departures disclosed and explained In the finantial statements,. and
prepare the financial Statements on the going concern basis unless It Is
inappropriate to presume that the Charlty wlll continue irb operation.
The Trustees are responsible for keeping adequate accountlng records that are sufflcient
to show and explaln the Charity's transattions and disclose wlth reasonable accuracy at
any time the financial positlon of the Charlty and enable them to ensure that the finandal
statement5 comply with the Charltles Art 2011, the Charity (Accounts and Reports)
Regulations 2008 and the Governing Documents.
They are also responsible for safeguardlng the assets of the Charity and hen￿ for takSng
reasonable steps for the prevention and detection of fraud ar)y other IrregulaHtle5. The
Trustees are responsible for the maintenance and Integrlty of the Charity and financial
Infomiatlon Included on the Register of Charltles.
Approved by the Trustees and signed on thelr behalf by..
Peter Edward Sugg
Chair
li

The Margaret Westwood Young Peoples, Foundatlon
Page 12
Statement of Financial Activities
For Year Ended 5 April 2025
Notes
Unrestrlcted
Funds
Total Funds
2025
2024
Gross income:
Investment Income
Overseas Investment Income
UK property income
Bank interest
Profit on disposal of
investments
Total Incomlng resources
Less:
Grants awarded
Los5 On disposal of
investments
Less: Expenditure
Secretary's expenses
Treasurer's expenses
Harris Allday fees and
Interest
Bank charges
Professional expense
Excess of income over
expenditure for the year
Total funds brought forward
Total funds carried
forward
12

The Margaret Westwood Young Peoples. Foundation
Page 13
Balance Sheet
For Year Ended 5 April 2025
Notes
Unrestricted
Funds
Total Funds
2025
2024
Capital Assets
Investments at cost
Market value..
5 April 2024 £0
5 Aprll 2025 - £0
Harris Allday deposit
account
Current Assets
Harrls Allday eamiThJ
accounts
CAF account
Less: Current Liabllltles
Creditors
Net assets
Capital account
Income account
Total funds
The notes at pages 14 to ig form part of these accounts
Approved by the Trustees on and signed on their behalf by:
Peter Edward Sugg
Chair
13

The Margaret Westwood Young Peoples. Foundation
Page 14
Notes to the Accounts
For Year Ended 5 Aprll 2025
l. Accounting Policies
(a) Basis of preparation
The financial statements have been prepared under the hlstorlc cost convention, wlth the
exception that investments are included at market value. The flnancial statements have
been prepared in accordance with the Statement of Recommended Practlce: Accounting
and Reportlng by Charities {FRSEE) issued in January 2015 and applicable UK A￿O￿ntIng
standards and the Charities Art 2011.
(b) Funds structure
The charity has one fund. an unrestrlrted income fund. This is a fund which the trustees
are free to use for any purpose in furtherance of the charitable objects. Unrestricted funds
include designated funds where the trustees, at their discretlon, have created a fund for a
specific purpose.
(c) Incoming re$ource$
All Incoming resources are recognlsed On￿ the charfty has entitlement to the resources,
it is certain that the resources wlll be recelved and the monetary value of incoming
resources can be measured with sufficient reliability.
(d) Resources expended
Liabilities are recognised as reSoUr￿S expended as soon as there Is a legal or constructive
obllgatlon committing the charlty to the expendlture. All expenditure is accounted for on
an accruèls basis and has been classified under heading5 that aggregate all costs related
to the category.
Grants payable are payments made to charitable organlsatlons In the furtherance of the
charltable objectlves of the Charity. Single or multi-year grants are accounted for when
elther the recipient has a reasonable expectation that they will receive a grant and the
trustees have agreed to pay the grant without condition, or the recipient has a reasonable
expectation that they will recelve a grant and any condltion attachlng to the grar)t Is
outside the control of the charity.
Provisions for grants are fflade when the intention to make a grant has been communicated
to the reclplent but there Is uncertalnty about elther the timing of the grant or the amount
of the grant payable.
(e) Costs of generating funds
The costs of generating funds conslsts of Investment management fees, legal fees,
accountancy fees and other governance and regulatory fees.
14

The Margaret Westwood Young Peoples. Foundation
Page 15
Notes to the Accounts
For Year Ended 5 April 2025
(Q Charitable Actlvltles
The costs of charltable activitles Include grants made.
(g) Governance costs
Governance costs comprise all costs involving the publlc accountabllity of the charity and
its compliance with regulation and good practice. These costs Include costs related to the
preparation of the accounts, the independent examination fee and legal fees.
(h) Flxed asset Investments
Investments are stated at market value as at the balance sheet date. The statement of
flnancial actlvlties Sncludes the net gain and losses arising on revaluation and dlsposals
throughout the year.
(i) Realised gains and losses
All gains and losses are taken to the Statement of Flnancial Attivitie5 as they arise.
Reallsed galns and losses on investments are calculated as the differen￿ between sale5
proceeds and opening market value (purchase date If later). Unrealised gain5 and losses
are calculated as the difference between and market value at the year end and opening
market value (or purchase date If later). Realised and unreali5ed gains are not separate(I
In the Statement of Flnanclal Artbvltles.
(i) Contingent liabilities and provisions
In accordan￿ with the SORP, a contingent1Sabllity Is disclosed for those grants, which do
not represent liabllltles, where the possible obligation, which arSses from past events, will
only be confirmed by the occurrence of one or more uncertain future events not wholly
wlthln the trustees, control. Provislons are recognised for those grants where there Is
uncertainty as to the timing or amount, and any uncertalnty regarding the amount Is more
than one of determlnlng a basls for reasonable estimation of the liability arising from that
constructlve obllgatlon.
2. Creditors
2025
2024
15

The Margaret Westwood Young Peoples. Foundatlon
Page 16
Notes to the Accounts
For Year Ended 5 April 2025
3. Funds
2025
2024
Income account
Capital account
4. Trustee remuneration
No remuneration was paid to the trustees during the period.
5. Grants paid
Number
Grants to individuals
Grants to Instltutlons
16

The Margaret Westwood Young Peoples. Foundation
Page 17
Schedule of Investment Income
For Year ended 5 April 2025
Holdin
Inv
Date
ivl
17

The Margaret Westwood Young Peoples. Foundatlon
Page 18
Schedule of Grant Paid
For Year Ended 5 Aprll 2025
Grant n
ount
18