Tho Thomas Wall Trust Charlty Roglslratlon No: 206121 Accounts forthg yoar anded 31stJuly 2024
The Thomas W1 Trust Reference and Admlnlslralivo Dotails Trustees: Ms. J. Tyler (Chairl Dr G.M. Copland, C.B.E., M.A, D.Phil., C.Phys.. F.Instp., F.R.S.A.. (resigned 11.7.241 Professor J. Baird Ms. S. Bray Ms. A. Clark8 Mr. J. Datta Or. K Hewlett M.B.E. Mr. J. Levanen Dr A. Sen Mukherjée appointed 11.7.2 Ms. T. Nickson, M.A, B.Ed (Honsl Dr. A. Randhawa (appointed 11.7.241 Professor L. Unwin (apwinted 11.7.241 Mr. S. Wollkampmoon (resigned 23.11.23) (appointed 11.7.24} (resigned 10.1.241 (resigned 23.11.23} Adrninistrator. Pellipar Services LinNled Auditorn: Wenn Townsend, Chartered Accountsnts, 30 St Giles,, Bankern: National Westminster Bank, 91 London Road. Headington, Oxford. Investmont managorn: CCLA Investment Management Limited, 80 Cheapside, London. Reglstered Charlty No: 208121 RegS8torod Offlce: Skinners, Hall, 8 Dowgate Hill, Lond, EG4R 2SP.
Tho Thomas Wall Tt Truslo09' r•port on the accounts for the yoar ondod 318t July 2024 SINctur•. Gov•mane• and Management The Thomas Wall Tnjst is govemed under a Scheme of the High Court of Jusb'ce {Chancery Division) dated 15th Drnber 1936 as varied by a Scheme dated 22nd Juty 1991. It is registered in England and Wales as a charity no 206121. The registered office address is shown on page 1. Trwt• Thé Trustees of the Chanty are sh¢)wn on page 1. lethod of Appolntment of Trusteeg _ At fvll strength there are four Representalve Twstees and five Co-optthe Trustees. The Representatwe Trustees are nomlnated as follows.. or by the A$sc¢iat)n of S¢hool and College Leaders One by the University of Oxford One by the University of Cambridge One by the University of London Thè Co-optative Trustees on cUrren of a Cfroptative vacancy appoint a person to fill it. In seeking new Co- oplatwe Trustees. the Board seeks lo ensure a balan of relevant skills in the Board. If the vacancy is not fllled thin six months. il i8 done so by resolufjon of all Trustees. New Trustees are briefed on the history and objectNes of the TrusL and Trustees responsibilities and duties in general. They also attend an induction with ministrative staff, to gain a fvller understanding of what lies undemeath the application and assessment pro$$. The Chaiity holds regular vrEetings of the Trustees four times a year, at whh decisions are made on the general running of the charity and also on grants io charitable institutions. Decisions on grants to individuals a made throughout the year by Trustees. The Trustees actively review the major risks which the Charity faces on a regular basis. The Trustees believe that maintaining the free reserves at the levels stated below, combined with a regular review of the controls over key financial systems will provide sufficient resources in the event of adverse condition$. The Trustees hav8 also examined other operational and busines5 risks which might arise and confimi that they have established systems to mitigate the sKJnifi¢anl risks. Obiectlves and Acllvltlos for tho Public Benefft Th& objects ofthe Trust, as stated in the S¢heme dated 15th December 1936. are as follo... The incorn ofthe Charty shall be applied atthe sole and unfettered discrelK)n oflhe Trustees in any matterwhi¢h they shall consider conducive to the encouragement arKJ assistan of educational work and s181 service both amorvJsl the large centres of populalK)n in the City or County of London and elsewhere and, in exeIS1n9 such di$¢rets'on, the Trustees shall have regard to the directions or recommendations following.'- a) That in the &Jministralion of Ihe Charity it 1$ recommended that the Trustees keep in tou¢h or consult with the best authorities and the Wt knowledg& on educatK)n and sctial servu. b) That the Trustees shall take a broad view of the meaning of"edUcanaF work and scoal servvx", and the encouragement and assistan th&reof. In parb"cular such encouragenEnt and assistsnce shall not be confined to SuppOng insbtutions shall indude the aiding of individuals such as Fx>rwidows left th issue, poor lea¢hers and young persons of promise but lacking the nwns of getting their training and the establishment and support of scholarships.
The Thoma8 Wall Tru51 Trustees. report on the a¢¢ounts (continued) for the year ended 31st July 2024 cl That no grant shall be made towards the erection or renovation of buildings or to Ipita, aIrrOUSeS or similar inststutions and that in the administration of the Charity no support shall be given to any polib'cal paty or to paty propaganda. d} That none of the objects herein before suggested, which under present socral conditions appear to be of paramount iMportare, shall be pursued after il has Sed in the opInn of the Trustees lo vital and pressing in the interests of the community but that the application of the said income shall be direoted generally to promote and assist the education of the people and improvement of Sla1 cond((ions and forjhatpvrpose lo assist prooie InstitutnS whose o res ects Comè within the amtil ofthe trusts aNJ whh are free to adapt theMseeS to the ever<hanging nesSI11es ofthe nation. These objectNes were achieved in the year by the award of grants as detailed below. The Trustees have complied wlth their duty to have due regard to the guidance on pUtlC benefit published by the Charity Commission in exercising their pjwers and duties. AGhievements and Perforniancg The Statement of Financial Activities for the year Is set out on page 8 of the financial statements. A summary of the financial resulls and the w(¥k of the ¢harty is set out below. The Grants to Individuals programme remain$ the same, aiming to support motivated adults living in the UK to undertake education and training that will Irease their chances of employment with an increased maximum grant atTh)unt of £1,500. The Grants to Registéred Charities prcgrammes focuses on communication skill$ linked to employment prospects, $elf-Confidere, resilience, and life Chances. The programme welcomes proposals which target people experiencing multiple deprivation or other groups demonstrabty facing major hurdles to employmen( especially, women, peopte with physical. mental. or leaming disabilities. refugees and asylum seekers. Between: 1" August 2023 - 31st July 2024: 2 75 Appllcatlons recelved 76 .'i Grants awarded Between 2023 and 2024. the Grants to Individuals Programme received 275 applications {2023:3421 of which 76 were succe55ful. The Trust committed IE60,070, 2023: £68,757) of the annual budget of Between: 1st August 2023 - 3151 July 2024: Appllcatlons recefved "/ Grants awarded Between 2023 and 2024, the Grants to Registered Charitles Programme received 369 application5 {2023: 5071 of which 22 were 5ucce55ful linc1Y1n£ multi qrantsl. The total amount awarded was £105,62412023: £123,671) {plus £250 to the Thomas Wall Nursery). The original budget was £120,0(XI. The Trust commltted J of the annual budget of
The Thomas Wall Trust Tru8t•88' report the accounts (ConnUed1 for the year ended 31st Juty 2024 The charlty Is man8ged by the Trustees and derives its incorn malnty from investments managed by an indeFendent fund management organisation. The charity received total income of £203,806 (2023.. Q01.287) in the year and realised gains on investments of £nil (2023.'£nill. In addition. Unlis¢d galns ¢)n inveslments amounted to £373.020 {2023'. £114,08110ss). Govemance Pellipar Services Limited (the operating arn ofThe Skinners, Company) has administered the charity since 1st January 2010. Flnanclal Revlew The reserves of this Trust should be consldered to b8 the net assets on the Incom Fund after the deduction of spending commitments alreaty entered into. The Trust needs reserves for reasons: al to cover fluctuations in cash-flow during each year. This is caused by Income arriving in regular quarterly irv6talrnents whereas expenditure is concentrated into the three aurnn months and July., bl to cover any unplanned large expenditure. such as professional fees for work involving its investment properties. The Trust's income is relatively stable. The bulk of expenditure is on grants and is easiw adjustable from one year lo another, especially as grants are made for one year at a time. Very few factors affecting expenditure a outside the Trust's C£trol. The TTU5tees have deSnated the capilal elent of the r88erves a8 non4istributable. The Twst's pollcy is to hold free reserves. high enough. bjt no higher than is needed, to fund the grants to iT1VIdUal students and cover the fluctuations in cash-fiow during the year. The free resetves are those unrestricted frjnds not despjnated for specifi¢ purpose5 or otherwise committed. The charity had free reserves of £213,841 {2023: £220,539} at the year end which the Trustees consider to be Sufflent for thls purpose. Inv•$lm•nt pollcy and T•turn8 The Trusys Cats1 assets consist of Investments and properties. The Trusfs investrrent is at leastto preserve the real value ofthe caprtal assets, safeguarding thern against erosion of value by inflation. while at the sarre time deriving from tt*m the best income that can be obtained Imlh regard to its othèr investrments, the Tru$l¢es' chosen m8ans to achieve ther poli is to place all those assets in a Common Investment Fund. spwficalty the ftjnds managed by COIF {CCLA Eihical Investment Fund), bxause of lis focus on the needs of charibes. In that way risk is spread very much wider than would be posslble In Ihe Tr$ uwn managed portfolio. The policy Is monitored by quartwly reports from COIF and an annual di$$$)n with a COIF repr8s8ntstpie at a Trustaes, meeting.
The Thoma8 Wall Trust Trust¢es' r•port on th• accounts {¢ontlnuod) for th• yoar end 31st July 2024 At the year end. the ch8rty had net assets of £5.844.27912023: £5,493,119) comprising investments on the 8k exchange, wopety and bank deposits, as shown on page 9. Almost all of the charity's assets consist of the capital with whh it was set up. The Trustees intend to retain this capital element of the fvnd which amounts to £S,630.43812023'. £5.272,5801. The charity's income which is needed to fvlfil its objectives is derived from the investment of those assets. The charity's investments In¢ased in value during the year by 6.9% (2023: 2% reduction). During the same p8riod, the FfsE 100 index rryse by 8.68% {2023: 3.80kn1. Plan8 for Future Perlod8 Plans for-2024125_include ouEannual review4teligibilitw4teria for awards to individuals and charities to ensure esé continue o remain wi In 'oMaS Triftl's onginafintenlhs and also reffect.1 Ths of CUrn. - ene 50CI The Trustees are conscious thatthere is continuing deThnd for SUPPOrt from individuals and charities. We want to use our limited funds to help indwKluals to develop skills, Icufrently communication skills), to enable them lo overcome rSonal disadvantage and beconE economically active. Similarfy, those charities that the Trust wishes to suprKJrt should meet defined criieria to support those in need by providing grants for charities with clear missbons lo knlitate this. The tru$lees also plan to ensure that govemance arrangements reflect modem day best ptice by re-visiting the Trust's governing d¢jjMents. We will also continue our regukr oversight of investment policy IT[udIng the balance of the portfolio. Fundralslng The trustees do not undertake signfficant fundraising activities. Statom•nl of Trust80s' respon81bllltles The Twstees are responsible for preparing the Trustees, Rewrt and the financial Statements In accordance with applicable law and United Kingdom Accounting Standards {Unrted Kingdom Generally Accepted Aco)unting Prxticel. The law applicable to ¢h8rits5 in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and applicatKsn of resources of the charity for that period. In preparing these financial statements. the Trustee$ affj required to.. select suitable accounting Polic and then appty them nsIstentIy,' obseNe the methods and prbnciples in the Charities SORP 2019 {FRS102)- make judgements and estimates that are reasonable and wudent, stste whether applicable aGcounts'ng standards have been followed, subject to any matsrial departures disclosed and explained in the financial $tal&ments', prepare th8 financial ststements on the going concern basis unless it is inappropriats to presume that the charity will continue in operation. The Trustees are responsible for keeping accountlng record$ which disclose with reas(able accuracy the financial position of the charty and enable them to ensure that thefinancial slatebrEnls comply with the Charities Act 2011, the Chaiity (Accounts Reports) Regulations 2008 and trust deed. They are also responsib for safeguarding the ass&ts of the charsty and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Audlto A resolutlon proposing that Wknn Townsend bo re-appointed as auditors of the charity wlll be put to th• Trustees, meeting. This report was approved by the Board on 28 Novembèr 2024. Ms J Tyler {Chairl
The Thomas Wall Tnmt Ind•pendent Auditor's Report to the Truste•9 of Th• Thomas Wall Trust Op5nlon We have audited the finatKSal statement$ of The Th¢)m8$ Wall Trust Ithe'charitll for the year ended 31st July 2024 vthlth ojmprise Ihe Statement of Finana81 ACtV"•s, thè B8lan¢e Sheet, and the notes to the anal statemènts. including a Summary of significanl accounting policie$. Th& financi81 pOlting framewowk that has been applied in their prep8ratK)n Is applicable law and Unitad Kingdom Ac¢ounliAg Stsndard5, irlUding FinancAal Reporting Standard f02 The Fin8n¢i81 Repothng Stsndalllapplb18 In th8 UKandRepublic oflTrland(United Kingdom GenerallyAcceptedAitounting Prathce}. In our opinion Ihe finanaal statements.. gNe a twe and fair view of the stats of th• d)aritls 8ff8irs as al 3151 Juty 2024, and of tts incoming r8source$ and applubon of resources, for the year then ended.. have been prOrIY prepared in aCrdance with United K#igdom Generally ApI&l Accounting Practice; and have been prepar8d in ac£ord8n¢e wilh thg requirements of the Charities Act 2011. &isls for oplnlon We condLKted our audit in accordan th Intemstional Stsnd8rds on Audng (UK) IISAS {UK)} and applicable law. Our responsibililies under those standards are further dtrscribed in the Authtorfs responsileS for the audit of the finanryal statements sectMJn of our raport. Wè arè independent of the charity in accordance with the ethical requirements that ar¢ relevant to our audit of the finan(ial sl8lements in the UK, including the FRC'S Ethical StaThJard. and we have fU1116d our other ethical responsibilili8s in a¢¢ordan¢e with these requiremerts. We believe that the audll eVIdee we have obtained is suffiaent and appropriate lo provKle 8 basis for our opinion. Concluslons relAng to golng eonetm In auditing the finanoal statemants, wè have nClude(l that the trustees. use of the gn9 concem b9818 of 8¢countlng In Ihe preparation of th• financial statements 18 appropriate. Based on the wotk w& hav& perforrned, we have not idenlified any material un¢ertalnlies relatlng to events or ndItIOnS that, individualty or cowedvdy, may ca818lgnDl¢l doubt on the Charis abilty to continuè 8s a going Concern for a pewiTr of at18asl hvelvo months frcn when the financial stalements are aLthorised for issuo. Our resp)nsibilrfi8s and the rg8ponsibililh8s of the Itee6 with respect to uw)iry concem are d¢su(bed in the relevant Sectio of this report. Oth•r Inforniallon The other information comprises the Infomatm induded in the trustees. artnual report. other than the finanri81 $lalements and our audiiorfs report thereon. Thg trustees are responsie for the other infomiation contained withln the annual pOrt. Our opinion on the finanual ststemènts doès not Cover the other informatKJn and. except lo tha 8xt8nt otherwise explirit stated in our report. W9 do not exwess 8ny fom) of assurance ojndusion thereon. Our responsibility is to re&J the other Infom18bon and. in ¢bing so, consider whether the other infomiation Is matérial inconsislenl wilh the financial statement$ or our knOedge obtained in the audit or otheM$g appears lo be m8tèrial misstated. If we identtfy such m8leri81 in¢on$lstenuè$ or apparent material misstatements, arè r8quirnd lo dètemine whether Ihis Ve$ rise to a malerS0l misstslement in the financial statements themseeS. If. b8sad on the WO we h8ve performed, we condude that there is 8 material misststement of this other infomiation, we are r8quired to report th81 f8¢t. We have nothing to rOrt in this regard. Matters on whlch wo arn r•qulrgd to report by exceptlon We have nothing to pOrt in respecl of the following matters in relat[ lo which the chae$ (Accrnts and Report81 Regulatio 2(K)8 requlre us to report to you if. in our opinion: the infomiation gNen in the financial 8Lments is innsISt¥nI In any materlal resrt with the tnJstees' report,. or the charity has not kept adequate cOUntIng records. or the financial statements are not in agreement with the aceounting rncords and relums., OT we h8v• not received all the inf0mtIOn and explanath)ns we requ& for our audlt.
The Thomas Wo11 Trust Independ¢nt Auditoi's Roport {contlnuedl to the Tntee$ of Th• Thomas Wall Trust Responslbllltles ol Tntst A8 exp18ined more fully in the trustees, responsibilitiè$ Slatsment sel out on page 5, the tr[teeS are reSp(sIble for the prgparation of the finanrjal statements and for being satisfied that they give a true and fairview, ankl for 8uch irrtemal control as thè trustètr$ determine is necessary to enab th• pr4aration of finanrAal ststsments tho1 free from rnateI miss18lemenl, whether due to fraud or error. In preparing the ffin8rKlal ststements, the tnjstees are responsibla for a88essing the charity's ability to ¢onlinue as a gng concem, discbsing. 8$ applblo, matters related to going concam and using the going concern basis of accounting unléss the trustees aithèr inland to liquidate the charty or to cease op8rations, or have realistic altèmalrvo but to do so. Audltorfs rnsponslbilitias forthe audit of the financSal ststoments We hTrave en appointed as ¥udit¢x urmler wAion 145 of the Charities Act 2011 and report in accordance wThli rngulalions made under section 154 of th A¢t. Our objectN¢$ are lo obtsin reasonable assurance about whether the fin8nd81 statnents a8 a bthobe are freefrom malert misstatement. whether du8 to fraud or eiror, and to issue an audilorfs rew)rt that indudes our opinion. Rgasonable assuran is a high Iwal of 8S8ur8nce, LKrt 18 not a guarantee that an audil wirtu¢ted in ac£ordance with ISAS {UK) will ah¥ays dètect a material Mlsststent when it exists. Misstatements can 8ri8e from fraud or error 8nd are considered material if. indNidu8lly or In th& agyreg8te. they could reasonably be 8XCle to influence the economic d¥cision$ of users taken on the basis of these financial ststements. IrregularitS. induding fr8ud, are instances of non-compliance wrth law8 and reguLgtions. We design procédu8 In line wlh Ouf responsibililiès. outlined above. lo detect materkal mis$tements in respect of irre9ulariti&s, induding fraud. The specific procedures fr)r this ongagement and the extent to which thèse a capable of detecling irragulaftti¥$, indudirvJ fraud is detailed b810w'. Enquiry of management and those Charged with governance arouThJ aclual a1 potential I1jaIl0n and daims.. Reviewing minutes of méb"ng$ of those charged with govemanc•', Reviewing finanaal stat&m•nt di8ck)sure8 and testing to supporting drmentatiOn to 836ess compliance wth 8pplicable laws and regulations.. Perfoming audit work over the risk of m8nagement override of controls. includirKJ tèsting of joumal entries and other adjustments for approprial&ness. ev?lu8ting ihe business rationale of signifficont transaConS outside the nowmal course of busines8 and revIng a(xounting è8lim81es for bias. Because of the InhenI Ilmilations of an audit. there is a risk that wa will [1 delect all iTheguLarities, induding those leadirwj to o material mis$l8lemenl in the financial statements or non-¢0mpliare WTth regution. This rtsk increasés more that complkanco wth a law or regulation is rernoved from the 8v8nt$ 8nd transactions rpflected in the finanaal st8t8m8nts, 8s we will be less likely to become 8W8Te of instances of non-complrdnce. Thè risk is 8180 greater regarding irregularrtias (mirring due to fraud rath8r thw) orror, as fraud involves intentional o)ncealmenl. forgory, collusion. ombssion misreprasen181iffi. A fvrther de$La1pOn of our responsibilities is available on the FRC'S website 8t.. htt '.Ilwww.frc.or assurancelauditor-s-res nsibilities-l r-lhe-audil-of-the-fildesc tion-of-Ihe-auditortoE2%80Yo99s-res description forms part of[ audilorfs report. .uklavdilorslaudil- nsibilities-for.Thls Use of our report This report is madg 10 Ih¢ charit8 Iru8tees, as a body, in accordance th P8rt 4 of the Charities (Accovnts and Reports) Regulations 2008. Our audrt work has been undertaken so that we might state to the charity's Irustetrs th9$0 matters we are required to ststa to them in 8n auditorfs report and for no other purpose. To the fvlkst exlent pemitted by law, we do not accopt or a$$um& responsibility to anyone olher than the ¢harrty 8nd the charity's trustses as a body. for our audit work, for this report, or for the oplnlons we have formed. Wonn Town80nd Chartered Accountants and Statutory Auditor November 2024 Wenn Townsend is 81igible to act as an audilorin tem7s Ofsel Y212 of thg Conwan$ Act 2006.
Th• Thoma8 Wall TnBt Slaiement of Flnan¢hl A¢tivities forthe year end 31st July 2024 Unrnslri¢t6d Designatgd G&noral Capital 2024 Total 20rJ Totsl Income from: Donatrons InVestnts Properties 1,150 1,150 131,959 70,697 1,320 129.272 70,695 131,959 70,697 202,6&8-- 145W 203,80W201,287 Expendlture on: Chartsble actwities 1225,6661 1225.666) (257,2891 Tolal oxpenditurn 1225.666} 1225,666) (257,2891 Realised gains on investmenl assets unalised profftl{loss) on revaluation of investment assets 16,312 356.708 373.020 1114,081) Not surplu81(•xpenditurel {6,6981 357,858 351.160 1170,083) Fund balance brought foThvard 220,539 5,272,580 5,493,119 5,663,202 Fund balan¢• ¢arri•d forward 213,841 5,630A38 5,844,279 5A93,119 All of the above results are derNed from continuing activities. All gains and losses recognised in the year are iluded above.
The Thomas Wall Trust Balance she&t At 31gtJuly 2024 2024 2023 Fixed assets Investments Investment properties 4,569.959 1.213,900 4.196,939 1.213.900 5,783,859 5.410,839 Currenl 4s90ts Debtors Cash at bank and in hand 55.546 23,774 56.356 51,989 10 79,320 108,345 Credltors: Amounts falling due thin one year 11 118,900) 126,C65} Net current a88eis 60,420 82,280 DebtLYs due after more than one year Not assets 5,844,279 5.493.119 unresled funds - general - designated capital 13 13 213,841 5,630,438 220.539 5,272,580 Total funds 5,844,279 5,493,119 These accounts were approved by the Trustees on 28 November 2024. Signed on tehalf of the Trustees Chair The notes on pages 10- 15 fomi part of the financial statents.
The Thomas Wall Tru8t Notes to the accounts for lh• y•ar ondod 31$t Juty 2024 Summary of slgnlficant aecounting policles General Infomiatlon and bosls of pr•parntion The Thomas Wall Trust is a charitable tnjst in the United Kingdom. The athjress of the registered offi¢e 1$ given In the d)arity informats'on on page 1 of thes8 finanLial slalements. The nature of the Charits operatiorts and priwpgl advtties are detailed in the Trustees, Rewjrt. Thè ¢haiity constth a public beneffit ety as d8fin8d by FRS 102. The ffinanckql statements have bn weparod in accordance with Accounting Reporting by Charihes.. Statamènt of Reu)mmended Pradice applicable to charitth prepariNJ their 8¢¢ounts in accordance with the Finanaal Rèrxxling Stsndard applicable in the UK and Republic of Ireland iSSLred In October 2019, Ihe Finanaal Reporting Standard applicable in the United Kingdom and Republ of Ireland (FRS 1021. the Charities Ac 2011, arKI UK Generally Accepted ACcOLting Pr8cti¢o. The ffinancial statements are prepared a going concern basis under the historical cost convention nY)dthed to include certain item8 at fair value. The finarrial stat8mants are prepared in 31erfing which is the functional and presentstional rrency of the charity. Monelary amounts In th8sè fin8nu81 ststements are rounded to the nearest pound slerllng. The significant aco)unting poIleS Applied in the preparalion of these finanaal statements are set oul below. Th¢$0 polityes have been cKnsistently appliad to all yoars prtrwitgd unle&8 otherwise stated. b} Fund accountlng The Charity's total ftjnds (Y)nStOla general whith the Trustees may use, forthe fvtherance ofthe objeds oflhe Charity, atthrdi89Ion. Designated fvndse unrestrict&J fLmdsvthich have Wn set ade bytheTrustees ts a ParJIar purpose. In¢omg recognltlon All incoming r&sources are induded in the Statemerrt of Financial Athities ISOFA) when the ch81ity is 9#llY entitl lo the income after any perfomwtKe condi1Son$ h8ve been met. the amount can be measured rdiabty and it is probable that the income will be recaved. For donations to be reccgni5ed the chanty will have ten notrfied ofthe amounts and the Settment date In wrlting. If there are o)nditions attached to th8 donation and this requires a level of perfomiance before entitlement Can be obtsined then income 15 deferred unthl those conditions a fully met or the fvlfilment of those conditsons Is Wtthin the u>ntrd of thÈ tharity and it is Wobae that they 11 be lulfillod. Investment incoTh is sam thrgh holding 8s8el8 for investment pUoseS such as shares and propety. It indudo8 dividend3, interest and rent. Vthere it is not practicable to rdenlTfy investment managem•nt costs incurréd thin a s¢hen th reasonable aracI the investment incomè is rgported nel of these o)sls. It is induded when the amount can be measured reliabty. Inlerest income is recognised n9 the effethve interest method and divid8nd and r•nl inm? Is recogni5ed as the chariis light to r1ve p8ymenl is o3labli3hed. dl Expondltur• r•¢ognition All expenditure is accountedfor on an a¢cwal$ ba$S8 and has been ¢lassrfBd under headings that aggregatè all costs r&Lqt8d to the category. Expenditure 1$ regnIsed where Ihere is 8 legal or cotructe oblvJation to mako paym8ntstothlrd pae8, Tt is probable that the settlement will be requir8d arKI the amount of the Obligatic can be measLFr8d reliabty. Irrecoverable VAT is charged as an expense against the aciwity for which exp8ndlturg arose. Granis payat48 to third parties ¥re the charitable objedives. Mtherg uncoThJWlono1 grants are offered, this is accrued as soon 85 the reclpienl 18 noliffed of the grant, as Ihis gives rise to a rèasonablè exp8¢t8tion that the reupient wil feceive the grants. ere grants are conditional relating lo performan thfrn the 9ranl is onty accrued when any unfijlfilled condiknons are outsklè ofthè fitrol of the charty. Support costs allocatlon Supportcosts are thos6 that 8SSi81 the work of the charity but do not directy representd)8ri18ble 3¢tNiliesand indude offi o)sts and govemance costs. They 8re incurred directty in supp)rt of expendiiure on tho 0e<l5 of the chanty and include Fffoject managem*rt. The 8naly8i8 of these costs is induded in note 4. Fixed assot inveslments The ChariV$ inveslments aTrJ investment properties a inclL#Jed in the )Unts al market value at the year end. Gains or bsses avising on revaluation are recognised in the Statement of Fina181 A(knbes 88 urKealised gains or losses. Gains or 10ssg8 aiiwng on disposal are recvJnised in the Statemen¢ of Flnanoal Acthmles a$ realised gains or b&88s. 10-
Tho Thomas Wall Trust Not•s to the accounts (¢ontinuodl forthg year WKlod 318t Juty 2024 g) Golng ¢on¢•m The financial stat&m&nt$ hav& been prepared on a going concsm b¥$is as Ihe trustees believe that no m8teiial uncertainti85 exist. The trustees havè eonsKl&red the level offunds held and tho &xpecled level ofincome an<1 exd1ture for 12 monlhs from authorising tha finan<i81 stalemenls. The budgeted income and expendrture is sufriaentwith thè lèvel of reservesfor the tharity to be able to continu& as a going concem. h) Key Judg8m•nts and sour¢o¥ of tImatiOn uncortalnty preparation of finanaal statements requFre$ managemènt to make esth'mates. judgèmènts and a58umptions that aff8¢t r•port¢d income, expenses. assets and liabilities. Howevar, nature of estimation means that 8¢tu81 outcomes could difler Irom those estimate$. Thtrvaluation ofthe investment properties may h8ve a signfficant risk ofcausiftg a material adjustment to the carrying amounts of a$s¢18 8nd liabilities within the next raportirKJ period. As at 31st Juty 2024, tho carrying amount of the investsnent pmpèrtses w88 £1,213,O1223. £1,213,w)i. Donation8 and legacl8S Included in donations are the following induding gift ald receNed in the year.. 2023 Sundry donat•)ns 1,150 1.320 Investment Income Interest receNable Dividends receivable from investments and unit trusts 2,490 129,469 1,874 127,398 131.959 129,272 Charitable actlvltles Grants made in the year- lo individuals - lo tharitable organisations 51,688 105,874 68,685 123,788 2,1CiI 3,030 54,125 1,904 322 3.335 Legal fees Audit Management fees Office costs induding meetings. travel & training Bank charges Websile 3,210 58,628 2.415 321 3.530 225,666 257.289 Included within Grants made in the ear are African Women Im Ct UK CIO Bramber Bakehouse Creative S arkworks Dances ndrome EFA Lonobn Fool nts Conductive Education Centr Forth Valle Wdcome Healin for the Heart Iranian Liver ol Commun. Lumina Limited Middlesex Association For The Blind ments to the follown or nisations.. Neurodivers UK New Ho e Global One to One Enfield ions in Peo le Matter Proud and Loud Arts Sateda Stren th & Stem Ltd SLJnrise Diver3 TEMCA Rainbow Haven Thoma$ Wall Nurse s,oc 5,0 5,0 4,224 5.orxi 4,2CIJ 5,OC¥) 5,OCM) S.OOJ 5.0(X) s,o(NJ 5.0(M) 5,OC4J 5,OC 5,0(X) 2) All ofthe above reapients re¢eW one grant paynt during the year. 11
The Thomas Wall Trust Nots8 to tho accounts {contInu) forthe year endgd 31si July 2024 Trustees. and key managomont p&r&onnol romuneration and expon50S The Trustees neither received nor wawed any remuneration during the year {2023'. £Nil). The total amount of employee benèfrts received by key management personnel is £Nil {2023.' £Nill. The Trust has no employees. Thè Trustees received £554 in expenses reimbursed during the yoar12023'. £229). Audllorfs ramunèration Unrè8trieted Funds 2024 2023 Auditorfs remuneration including VAT.. Cufr8nl year 3,210 3,030 Slaff costs No individuals are employed by the Trust12023.- none). 12-
The Thomas Wall Trust Notes to the accounts Icontlnued) for the year ended 31st Juty 2024 Flxed 488Ot investrnents 2024 2023 COIF: Market value at 1st August 2023 Disposal proceed$ Purchases Realised gains on disposal Unrealised profitllkjssl in year 4,196,939 4,311,020 373,020 1114.081} Mathet value at 31st JU 2024 4,569,959 4,196,939 Invostment properties: 55 High Stwl, Staines Market value at 1st August 2022 Movement in valuakn'on 1,200,OC 1,200,0 Market value at 31st Juty 2023 1.200,OCIJ 1,2CrfJ,000 28 Outram Street, Sutton in Ashfield Market value at 1st August 2022 Movement in valuation in the ye I3,0 13,900 Market valu8 al 31st Juty 2023 13,900 13,900 Tolal investment propertie5 1.213.900 1,213,900 a) The historic cost of the COIF investments at 31s1 Juty 2024 was £3.408.965 (2023.. £3.408,965). The increase in marketvalue during the period was 8.8%12023.' 2.60A decrease). During Ihe same period, the FTSE 100 index rose by 8.68%12023.' 3.8%). b) The market value of COIF investments held within and outside the UK, using asset allocation as at 30th June 2024 was.. 2024 2023 Inside the UK Outside the UK 1,599,486 2,970,473 1,508,800 2,688,139 4,569,959 4,196,939 c) No indivhlual shares wrthin the COIF Charities Ethical Fund repres6nted more than 5% of the portfolio. dl The propeity at 55 High Street, Staines was valued by the Trustees following advice from Nicholas Shepherd. Esq (the surveyor who negotiated the current SeY in Apnl 2017 at £1,200,000 (cost.. £553,104) Th& propety at 2a Outram StreeL Sutton In Ashfield was valued by DavpJ Blount. Chartered Surveyors. on 23rd July 2013 at £13,900 {costr £15,483). Both properties were valued with regard to the existing lease terms. 13-
Th• Thomas Wall Trust Notss to the accounts l¢ontlnuod for the year ended 31st Juty 2024 Debtors 2024 2023 Accrued incom& Prepayments other debtors 42,404 13,112 30 41,369 12.494 2,493 55,546 56,356 10 Cash at bank and In hand 2024 2023 Bank current account COIF deposit account 14,801 8,973 23,939 28,050 23.774 51,989 11 Craditors 2024 2023 Sundry Credilors Accruals Rent recelved in advance 5,027 3,210 10,663 12,370 3,030 10,665 18,900 26,065 12 Flnanclal Mmmitments At 31st July 2024, the Trustees had approved no conditional grants for the 2024125 academic year (2023: £nill. Al nonryconditional grants have been accrued in these accounts £4.979 (2023 £12,3701. 13 Reservo• Deslgnated capltal fund This fund represents money set aside to generate income in order to carry OLrt the charitable activities of the Trust 11 represents the initial capital with which the Trust was set up. plus donations received since that date. 2024 2023 Balance brought forward 1st Augusl 2023 Donations reiVed Realised profit on sale of investments Change in market value of investments 5,272,580 1,150 5.380.352 1.320 356,708 (109,0921 Balance carried fonvard 31st July 2024 5,630,438 5.272.580 Gonernl fund This fund represents money not set aside for a particular purpose. Balance brought foard 1st August 2023 (Deficit) for the year Realised profit on sale of investments Change in mafket value of investments 220,539 123,010) 282,850 (57,322) 16.312 (4,989) Balance carried forward 31st Juty 2024 213.841 220,539 14-
Tho Thomas Wall Trust Notes to the accounts l¢ontlnued) forthe yoar ondod 31st July 2024 14. Statement of Financlal Actlvilies for 2023 Unrestrlcted Dosignated General Capital 2023 Totsl Incomo from: 1.32 1,32 129,272 70.695 InvestEnts Properbes 129.272 70,695 Total income 199,967 1,320 201,287 Exponditurn on: Chartsble athths {257.289} {257.2891 Total oxp•nditur• (257,2891 (257.2891 Realised gains on investment assets unalISed gain on revaluatson of investnEnt assets (4.989) (109,0921 {114,0811 Net laxpendliureylncome (62,311) 1107.7721 (170,0831 Fund balance brought foThvard 282,850 5,380,352 5,663,202 Fund balance carrled forward 220,539 5272.580 5,493.119 15. Relatsd party transacllon$ During the year a total of £nil was received from Trustses as donations12023'. £1001. 15-
The Thoma8 Wall Trust Income and •xpendlturo account for th• yoar ended 31st July 2024 2024 2023 Income Dividends 8nd interest on investr£nts Deposit interest 129,469 2,490 127,398 1,874 131,959 129,272 Rents r1vab.. 55 High Street, Staines 2a Outram Street, Sutton in Ashfield 7,000 70,000 697 695 70,697 1,150 70,695 1,320 Donations receNed Total Incomo 203,806 201.287 Deduct: expendlturo Professlonal fee• Audit Managemenl fee Investment property costs 3,210 58.628 3,030 54,125 61,838 57,155 G•n•ral Postage, stationery, printing & telephone Sub$¢riptions Travelling and meets.ng expenses Website ¢osts Legal Bank charges Sundry expenses 304 330 1,781 3,530 254 300 1,350 3.335 2.100 322 321 6,266 7,861 Grants To indNidual students Digital Skills Programme To organisalions 51,688 68,685 105,874 123,788 157,562 192,473 Total expendlture {225,666) {257,289) Not (def*it) for the year 121,860) (56,002} This page does not part ofthe statutory a¢unts.
The Thomas Wall Trust Capilal fund - Bolan¢o 8h•et At 31st Juty 2024 2024 2023 Capltal fund Balance at 1st August 2023 5,272,580 5,380,352 Donations received 1.150 Realised and unrealised {los8esygains on investments 356,708 1,320 1109,092) .-J51,858 107,7.72 _ Balance at 3151 Juty 2024 5,630,438 5,272,580 Repre80ntod by: Investment properties at market value 1.213.900 1.213,900 Quoted investments at market value 4.370,11 S 4.013.407 Net current assets 46,423 45.273 Net assets on capltal fund 5,630,438 5,272,580 This page does not form part of the ststutory accounts.
The Thomas Wall Trust Income fund - Balance sheot At 31st July 2024 2024 2023 Incomè fund Accumulated surplus at 1st August 2023 {Deficitl for the year Realised and unrealised gainlllossl on inv8Stm8nts 220.539 {23,010) 16,312 282,850 (57,322} 14.989} coutnulated surplusAt2tslJuW2024 213,841 220.539 Represonl•d by: Investments 199,844 183,532 Debtor8 - Prepayments and accrued income 32,897 56,356 Cash and bank Bank current and COIF deposit account 6,716 Croditors Sundry Creditors Accruals Rent receNed in advance 5.027 3,210 10,663 12.370 3,030 10.665 (18.900) (26,065) Nèt a88ets on Income fund 213,841 220.539 This page does not form part of the statutory accounts.
The Thomas Wall Trust Reconclllatlon of not ass•ts At 31st Juty 2024 2024 2023 Net assets on capital fund (see page B) 5.630.438 5,272.580 Net assets onJooDP fUn(s£e.p8ge C Total net a880ts1880 page 81 5,844,279 5,493,119 This page does not form part of the ststutory a¢unts.