Charlty number. 210496 COLONEL W. H. WHITBREAD CHARITABLE TRUST TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 COLONEL VI. H. WHrrBREAD CHARtrABLE TRUST copirENTS Page R8fer8ncg and administratlve detalls of tho Char5ty. Its Tft￿ and advlser5 Trustee8' report Independent auditorfs r•port t)n the financlal Statements Statement of financial actlvltles 7-10 11 Balance sheel 12 Notes to the financlal ststements 13-26 COLONEL W. H. WHITBREAD CHARITABLE TRUST REFERENCE AND ADMINISTRATIVE D￿AlLs OF THE CHARrrY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2023 Trustees H F Whiibread Esq. Truslee J R Barkes Esq, Trustee R Foley Esq. Trustee Charlty rnglstered number 210496 Prfnclpal office cjo Crry•m EqLxrfs House Roya Mews London SW1W OQH Secretsry S Br(Ywne Independent audhor CrNe U.K LLP Black County House Rounds Green Road Ohabury Wesl Midlands B69 20G Banke CAF Bank Linited PO Box 289 West Malling Kent ME19 4TA Sollcltor6 Bircham DYS￿ Bell LLP 50 Broa( Lon(bJn SW1H OBL Invostment Managers Sara5in & Partners LLP Juxon House 100 St Paul's Chur¢hya( London EC4M 8BU Page 1 COLONEL W. H. WHIT8READ CHARITABLE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The Trustees present their annual reKth tty]ether *ryth the athdited financ*1 staterrents of the Charity for the year 1 January 2023 to 31 December 2023. Objectlves and activilies a. ObJe¢tlves and aims The objects of the TnJ5t are set (Krt in CIaL￿ 2 of the Trust Deed as foltows.. "2. The trustees shall stand possessed of the Whitbread Charilable Fund UPON TRUST to pay apply or appropriate the whole of the said fvnd and the income arising thereon to charitsbEe organisations in the United Kingdom to be used by such organisations lor their charitable wrposes so thal the time manner and the head or heads under which payment application of approF￿*1)n of the Whitbread Charitsble Fund and the said income thereon shall be made and 41 other details and p*ulars as to such payment app1KAt￿n or appropriation shall be in the absolute discretion of the trustees." b. Dlstrfbutlon poltcy The Trustees have resofved to supwt Chari￿le Ofganisations and general areas of charilable activity which were. or in the opinion of the Tn￿teeS would have been. ui keeping with the philanlhropio wshes of the Settlor, the late Colonel Wliam Henry WhitbTead. These obpcb'ves have been fO￿ulated by the Trustees based on research into the lrfe and interests of the Fcwnder commissK)ned by the Trust. 1. The promotlon of educatlon and in particular . Charitable organisation5 which support eduGalK)n, weif*E arKI scholarships for the underprivileged or suffering I Charltable organisation5 vthlch support certaln amateur sport6 . Swting ende8vour 3. Charltabk org¥nisatl(¥￿ Ylhich support the hoalth and welfar• of soldiers 4. Charitable oryan15atlons which support ¢onSeNatI(￿ projects c. Publlc ben•fft The Trustees Confi￿ that Ihey have I))m￿led ￿1th the dity in *ct*)n 17 ot Charitres Act 2011 to have due regard to put￿￿ benefft guidance published by the ComMiss￿n in detenming Ihe activities undertaken by the Charity. The Charity Ccffimission in its "CharitEs and publ￿ Benefif guhlance states thal the￿ are Iwo key pftnciples to be met in order to show that an organi5ab"on's aims are for Ihe public benefiL ffirstly, there must be an identifiable benefit and secondty. that the benefit must be to the public or a section of the public. The Trustees are Satisfied that the aims and objedive5 of the cthanty. WKI acli¥ibe5 rep￿ on below ki achieve those aim5. meet these principles. Page 2 COLONEL W. H. WHIT8READ CHARITABLE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 ObJectlve8 and activlties (continued) d. Grant making pollcies The Trust￿ will only in ￿p1]Qnal cirrAJntsIan￿ consKler grant applutK)ns for purposes which fall outside those described above. Wrthin the fran￿wOrk the Trustees wil generalty don* a minimum of £500 per disbibution. The Trustees make charitable d￿￿tIOnS on a discretl￿ry basis, having reviewed all appkations and considered other tharibes that they wish to benefiL It is thp p0￿'CY of Ihe Trustees to experKI trE income {but not the rapiial} of the Trusl for $uGh charitable purposes. Achlevements and perfornwnce . Revlew of aclfvllles In¢omlng resources and cost of generatlng funds Income to the charity is foffl￿d from investrftnt F￿dDI10 (fvKJends interest on cash. Totsl incoming resources to the tharity for 2023 were £268.650 cornpared with £229.693 in 2022. Portfolio management fee5 are in the region ofO.6%, as agreed by the Trustees and investment manager& Direct charttable exPendI￿re The Twstees continue to review the Tntsvs grant rnaknro programnE given the current economic climate. In Ihe year there was a 5rnall decrease in Ihe number of grants from 26 in 2022 to 23 in 2023. Charitable donations decreased frorn £214.120 in 2022 to £116,350 in 2023. The Trustees cLJnlirtue lo the social 1rNeSt￿ in a corfflwnity café and expect to recoup the investment in three years. time. Since 2￿1 £2.779,478 has been distrtjuted to causes by ways of gAnts. donations, bursaries and scholarships. othgr axpendlture Expenditure relating io the administrabve costs of the Trust in 2023 increased and equated i0 £33,829 lapproximalety 0.1Yo of the value of the Trust Fund} from £16,630 in 2022. During the handover of Secretary to the Trust from Mrs Susan Smth to Mrs se￿na Brfmne. there Was a peric>J of increased salary cos15. The Trustees would like to acknowledge their gratTtude to Mts Susan Srrith for her support over 25 years of service. Investment poll¢y and performance The Trnst enjoy5 wide investment poweTr. By Glausp 5 of the Trust Deed". 'Trust monies ffray be invested in or upon suth shares stoo*s funds securities or other investments in any part of the wodd and whether involving liabifrty or not (othepwise than loans io the Setuor or any wfe of his) as the Trustees shall in their absolute discretion think fft and so thal the Tru5tee5 Shall be empowered to invest and transpose the investment ot Trust TrKsnies ￿ the san* unrestricted manner as ifthey were the beneficial ownèrs of such monies." Page 3 COLONEL W. H. MIITBREAD CHARITABLE TRusr TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEIABER 2023 Achievements and perfonnance lconttnued) b. FundralslNJ activitses and Income generallon There are no fundrai￿ng activities requtrir#J disch)sure under S162A of the Charities Act 2011 Flnanclal revl•w . Golng concern After making appropriate enquiries. the Trustee5 have a rea50nabie expectation that the charity has ￿tequale resourc8s lo continue in operational existerKe for the foreseeable future. b. Reserves pollcy The Trustees have avarfatAe cash reseNes of £453,780 (2022.. £770.2451. The charity holds investments of £13.971.37512022.' £12,670,469). Where cash is available to be ￿InVeSted in investments then this is done. The Trustees mnitor investments held to ensure that the investrnents are secure and dividend income is generated for future distribution. The Charity has Unrestric￿ reser￿ of £476.762 (2022" £792.740), and endovmRnt reseNes of £13,946.37512t722." £12,645,469). stntctvre. governance and manag•m8nt a. Constltution Constitution The chatty is a registered charity arKJ was set ￿ and is constituted urKler the goveming dQcuw￿nt 'Settlemenf dated 18 December 1953. The objects of the Chaiilable Trust state thal fvrKls are to be used IDr "charitable cryani5ations in the uir. These include: . Charities registered wilh the Chaty Comn￿lOn (beww in England and Wales) aThl . Charities which do not require to be ￿lSIered with the Charity Commissicffi because they are." • excepted from registration by the regulations ' exempt by virtue ofthe Sch¢)ol SthedU￿ to the Chartiies Act 1993 or ' very small The Trustees have high slandards where governance is eoncemed. They aR mindful ofthe Charity Governance Code and consult regulaty *ith their KKofessional adviser5 to ensure that the TNst adheres to professional standards. b. IAgthods of appolntment or election ot Tn￿te¢S statutory power of q)pointrnent cg)ntaned Thi lh& Trustee Aca 1925 applies, Ihe pJwer of appointment is vested in the current TnJ51ees of the TntsL Page 4 COLONEL W. H. WHITBREAD CHARrrABLE TRUST TRUSTEES. REPORT (CoN￿NuED) FOR THE YEAR ENDED 31 DECEI￿ER 2023 Plans for future perlods Future developments . The Trustees look lo continue safeguarfing Ihe Irwestn￿ts of the charity and ensuring a good retum on these investrnents. . The Trustees will continue lo make availabk incoffle arising on these a55ets for use in accordance V￿th the T￿￿teeS objecbves. statement of Truslees. responslbllttles The Trustees are ￿spOnsible for preparing Ihe Tru5tees' report and the fman¢wl statements in accordan￿ with applicable law United Kingdom Accounting Stsndards (United kngdcrfn Generally Accepted Accounting Practice). The law applicable to charibes in ErKdl8rKI & Wales requires Ihe Trustees to P￿pare financial statements for ea¢h financia year which give a true and far view of the state of affairs of the Charity and of its incomin9 SoUr￿S and application of resour¢e5, ￿cludI￿j its income and expenditu￿. for that period. In preparing these finanual statemen15. the Trustees are required to.. select suitsble accounting policies and then ath Itwn consistenty.. obseNe the methods and principles of the c￿l￿e5 SORP (FRS 1021: make judgments and accounting estimates that arE reasonable and pnJdenL state whether apPI￿able UK Accounting Stsndwds {FRS 102) have been fdlowed, Subject to any material departures di￿lOSed and explaned in Ihe ffinar¢o1 statements" prepare the financaal statements on the going concem basis Un￿ it is inappropriate to kyesume that the Charity will witinue in bu51ness. The Trustees are responsib￿ for keeping adequate xcounting records that are sufficlent to show and explaln the ChariVs transactions and di￿lOse wth reasonabte ac¢uracy at any time the financial posibon of Ihe Charity and enable them to ensuTr that the financial ststwnents o)mply wilh the Charities Act 2011, the Charity (Accounts and Report51 Regulations 2008 and the provisions of the Trusi deed. They are a150 responsible for safeguarding the a55e15 of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Dlsclosure of infornHtlon to audltor Eath of the persons who are Truslees at the twne when Trustee5' report 15 approved has confimied that so far as Ihat Trustee is ￿re. there is no relevant •Jdit inf¢)mBtion of which the chaiity'5 audiior is unaware. arKI that Trustee has laken all the step5 that ought to have been taken as a Trustee in order lo be aware of any rdevant audit infomialion arKI to establish that Ihe tharitys auditor 18 aware of thal information. Audltor The auditor, Cr(wR U.K. LLP. has indic*d his wllingness bj ojntmue wi office. The deswjnaled Tru5tee5 will propose a motion reapp(Mnting tt)e auditor at a meeting of the Trustees. AprKoved by order of the ￿￿MberS of the board of Trusiees and signed on Iheir behalf by.. Page 5 COLONEL W. H. WHITBREAD CHARrrA8LE TRUST TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 H F Whltbread Esq Trustee Date.. JQ.lQ.Zt Page 6 COLONEL W. H. WHITBREAD CHARrrABLE TRUST INDEPENDENT AUDITOR% REPORT TO THE MEMBERS OF COLONEL W. H. WHITBREAD CHARITABLE TRUST Oplnlon We have audiled the financial ststeffents of Cdonel W. H. Whitbread Chantable Trust (the 'charity'l for the year ended 31 December 2023 which compr6e the Ststemenl of financ5al activities, ihe Balance 5hee( the Statement of cash flows and the related notes. including a summary of s*3nificant acLounting polKie5. Thp financial reporknng framework that has been applied in their preparation is applicable law and United Sfjngdom Accounting Stsndards, induding Finanra* Reporting Slandard 102 The F￿anCIal Re￿￿g Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Prxtice). The financial statements have teen Prepared in aC£Ordan￿ with Accounting and Reporting by Charittes preparing their accounts fft accordance wth the Financial Reporting Standards applicable in the UK and Republic of Ireland IFRS 102) in prefèrence to the Accounting Reporting by Charities.. Statement of Recommended Practice issued on 1 ADriI 2CWJ5 which is referred to in the oxtant ￿gULatI)n$ but has teen withdrawn. This has been done in for the ac£ounts to wovide a true and fair view in ￿¥dance with the Generally Accepted Accaunting Practice effective for reporbng pefiods beginning on or after 1 January 2019. In our opinion the financial statements: e a true and tair viLY of the state of the charity's affairs as ai 31 December 2023 and of bts incoming resources and applicati)n of r￿)urceS for the hear then ended,. have been property prèpared in acCOrdar￿ wrth Uniled KiryJd(Mn Generally Accepted Accounting PraGtice,' and have been prepared in w￿)rdanCe with the requirpments ofthe Charilies Act 2011. Basls for oplnlon We conducted our audit in accordan￿ vrith Intemabonal Standards ¢)n Auditing (UK) (ISAS IUKI) and applicable I￿. Our responsibilities under those standanls are further dexribed in the Auditors responsibilities for the audit of the financial statements section of our reporL We are independent of the ¢h8rity in accordance with the ethical requirements that are relevant kn cur audit of the financial statements in the United Kingdom. induding the Financial Reporting Counal's Ethical StarKlard. and we have fulfilled tyjr other ethi￿1 responsibililies in accordan￿ with these requirements. We Ihat Ihe aKltt ev•Jence we have d)tsined is sufficienl and appropriaie to provide a basis for our opinion. Other matter The financial statements have t*en audited for the fitst time in the current year. For the year ended 31 December 2022 the conyany was audit exempl. and consequently the financial statements for that period. whtch comprise the corresponding ￿fO￿natIOn presented in these financ4al statèments. is unaudlted. Page 7 COLONEL W. H. WHrrBREAD CHARrfABLE TRUST INDEPENDEKf AUDrroR'S REPORT TO THE MEMBERS OF COLONEL W. H. WHITBREAD CHARITABLE TRUST (CONTINUED) Concluslons r8latlng to golng concern In auditing the financial statements. have GOr￿lUded that the Trustees. use of the going concem basis of a￿Unbftg in the prepaiatson of the finanud statements is appropriate. Based on the w￿k have perfom*d, we have nol identified any material uncertainties relating to ev&n15 or conditions that. individually or cofiectively, cast ￿gnificant doubt on the charitys ability io continue as a going concem for a pericrtj of at least hvetve months from WWI the financial statements are autTrwxised for issu&. Our responslbilittes and Ihe reSp￿Sibl￿￿￿ of the Trustees vthlh respvt kn going concem are described in the relevant s¥lions of this report. (Xher Inf0M￿tIon The other infDThnation comprises the irrformation induded in the Annual ￿port other than the financial statements and our ALKlitorfs report thereon. The Trustees are resp￿s[b[e for the other information contained within the Annual report. Our opinion on the finan(A statements dces not cover the other information and. eX￿pt to the extent otheThvise explicrtty stated in our repori do Th)t express any fonn of assuran￿ concIL￿10n thereon. Our responsitm'lty is to read the other inf0m￿tion and, ￿ doing so. consider whether the other information is malerialty inconsislent the ffinanaal statements or our kn(?￿l9e oblalned in the course of the audil. or otherwise appears to te materialty misstated. If VE ¥Jentify suGh material inconsistencies or apparent material misstalemenls, we are required lo deterrline whether this give5 wise to a material misstatement in the financial statements themselves. If, based on the have FErformed, we condude that there 15 a malerial mrsstatement of thi5 other informati￿. V•t are required to report that facL We have nothing to reFQrt Thi thi5 rewd. Matters on whkh we are required to rnport by excep￿On We have nolhiry to report in respeGt of the followirg matters *there the Charities (Accounts and Reports) Regulats'ons 2008 require5 US to report to you if. in otHnion: the infomiation given in the Trusteeg W 15 iTh%ngstent in ￿Y material respect wilh the finanGial statements: or sufficient oGcounting records have not been kept or Ihe financial statements are not in agreerrEnl with the accounting reccKds and retums: or we have not received all Ihe information and explanations we require forour audiL Responslbllilies of trust•es As explained more fulty in the Trustees, res￿nsI1￿11l￿s 5tatemnC the Trustees are responsible for the prepaialion ol the financial statements which gwe a true and fair view. and for such inlefflal wntrol as the Trustees detennine is necessary to eThable preparation of financial slatements that are free from malerkryl misstatement, whether due lo fraud or error. In preparing the financial stalwnents, the Trustees are resFN)nsible as5e55ing Ihe charivs abilty to continue a5 a going concem, disthsing. as applicable. matte15 Telated to 90iry eoncem and using the going cOn￿M basis of accounting unless the Trustees either intend to *uKlate the charity or to cease operations, or have no reali5tsc alternative but lo do so. Page 8 COLONEL W. H. WHITBREAD CHARITABLE TRUST INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF COLONEL W. H. WHITBREAD CHARITABLE TrUST (CONTINUED) Auditorfs responsibilltles for the a￿lIt of the financlal statements We have been appoinled as auditor under sectKJn 144 of Charl￿S Act 2011 and report in accordance with the Act and relevant regulats)ns made or having effect thereunder. Our objectives a￿ to obtain reasonable assur*Ke atKWt whether the financol statements as a whole *e free from material misstatement, whether due to fraud or error. and tr• issue an Auditors report that hiGlude5 our inion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK} will a￿ayS detect a material misstatement vthen it e￿Sts. Mi$5talements can arise from fraud or error and are COn￿dered material rf, iThJividualy or in the aggregate, they could reasonably be expected lo inffluen￿ the economic decisions of users taken (m the basis of these financial statements. Irregularittes, including fraud, are Instsn￿s of nonants pay*le are charged in the year when the offer is rnade exwt in those ￿SeS whgre the offer is conditional, such grdnts being wnised as expenditure Ythen tr*e conditions altaching are fvlfilled. Grants offered subject to conditions which have not been at the year are noted as COM￿￿t￿en[ but not awJued as expeThJiture. All expenditur& 15 inclusive of irrec￿erable VAT. 14 Tanglbk flxed assets and depredalton Tangible r￿ed a55ets costing £200 or rn0￿ are capilalised and recognised wthen future economic benefits are wrthbie and the cost or y￿ue of the asset can te measured reliably. Tangib￿ fixed assets a￿ intlialty recognised at cost. After recogniknn, under the cost model. tangible fixed aysets are rneasu￿ at cost less ar£umulated depreciation and any accumulated impaim)ent losses. Atl costs incurred to bring a taThJible fwl asset into its intended working condition should included in the measurement of cosi Depreciakn is charged $0 a5 to aNocate Ihe cost of tangible ffixed assets less their re5Klual value over their estimated useful lives. using the straight4ine method. Depreciatw)n is provthd on the folkx1￿ ba515: Office equipnent 33% Strayht Line 2.5 Investments Fixed asset investments are a of financial instrument arKI are initially recognised at their transaction cost and subsequenty ThEasured at fair value at the Balance Sheet date, unless the value cannot be measured teThat4y in whKh ￿ it is measured at cost less impaThnent. Investment gains and losses. Nthether realised or unrealised. are ccrfnbined and presented as 'Gainsl(L05ses) on investments, in the Stateffl￿t of financial actsvilEs. Investments held as fred assets are at cost les5 FYOVISk￿ for impairffent Social investments hekl as fued asset Investr￿nts represent loan5 made on benefictal lem)s infijrtherance of the charity's purposes to asstst organisations. The bans are initially measured at fair value being the amount advanced. arKI subwuenty adjusted ftlr any repayments or Impai￿ents. Page 14 COLONEL W. H. WHrrBREAD CHARifA8LE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies Icontlnued) 2.6 Debtors Trade and other debtors are recognised at the seiuement anount after any trade discount offered. Prepayments are valued at the anKJunt prepaid net of any trade discounts due. 2.7 Cash at bank and in hand Cash al bank and in hand includes cash and short-lerm h￿hlY liquid investments with a short maturity of three months or less from the dale of acquIs￿On or opening of the deposit or siryilar account. 18 Llobllitl•8 and provislon Liabilibes are recagni5efJ when there is an oblwjatson at the Balance sheet dale as a result of a past even( it is probable that a transfer of e0)r#jn￿ benefit WAI be required in settlement, and the amount of the settlement can be estiffAted reliably. Liabilities are recognised at tre amount that the Charity anticipates it will pay to geiue the debt or the amount it has received as advanced payments for the goc#Js or Servi￿ it must provide. PT0viS￿nS are ma5ured at the best estirnate of the affrf)unts required to seltle the obligation. Where the effecl of the time value of ￿￿)neY is material. the provision is based on the p￿sent value of those amounts, discounted at the we-tsx discount rate that reflecis the risks specific to the Irability. The unwinding of the discount is recognised n the Ststement of finanoal acbvities as a finance cost. 19 Flnanclal Instruments The Chartty only has financial assets and financial liabilities of a kind that qualfy as basic financial instrurr£nts. Basic fnancial instrumeDt5 are initially recognised at tfdnsaction valu& and subsequently measured at their setllement value. 2.10 Fund accounting General funds a￿ Unrestric￿ funds are available for use at the discretion of the Trustees in furtherance of the gen8rn1 obiectNes of Ihe Charity and which have nol been designated for other purposes. Endowment fund5 comprise restricted funds hekd within listed investrr￿n¢s. The aiffl ol these funds is to generate income to support charitable organisabon5 in keepin9 With the Nwshes of the founder of the Trust. Investrnent income. gains and bsses are albcated to the appropriate fund. Page 15 COLONEL W. H. bVHtTBREAD CHARrrA8LE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Inveslment incom8 Unrestricted fund5 2023 Total funds 2023 Dividend5 Interest 236.735 31,915 236,735 31,915 268,650 268,650 Unte$trict8d fvnds 2022 Total funds 2022 tli¥idents Interest 223,817 &876 223.817 5.876 229.693 229.693 Investmenl management costs Unr85tricted funds 2023 Total funds 2023 Investrnent management fees 93.741 93.741 UnTrstiicted funds 2022 Total fvnds 2022 Investrnènt management fees 92.560 92,560 Page 16 COLONEL W. H. VIHITBREAD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Analysls of grants Grants to Instltutlons 2023 Total funds 2023 Grants, Conservation proFcts Grants. Health and weFFare of soldiers Grants, Support amateur sport Grants, Promotion of education Grants, Other 19.500 36,350 7.000 23,DOO 30.500 19,500 36,350 7,000 23,000 30,500 Grants to Institu1￿nS 2022 rotal runcls 2022 Grants. ConsETvation proiecls Grants. Health and wetfare of sokliers Grants, Support amateur sport Grants. promot￿ of educatvJn Grants, Other 23,000 59.000 11.000 32,120 89,000 23.000 59,000 11,000 32.12Q 89.000 The Charity has made the fdhMng material grants io in5btUt￿nS durirvJ the year.. Page 17 COLONEL W. H. WHrrBREAD CHARJTABLE TrUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Anatysis of grnnts (conllnuod) 2023 2022 Name of instituuon Household Cavalry F(wndation Footsteps Worcestershire School Readers Walking with the Wounded Light Dragoons Charitable Trust Shire Horse Society Hurlingham Polo AsxKiation Peck Trusl Queen Motherfs Clothlig Guikl Parker Library Cleanup UK The Mulbery Bush Chapter of Peterborough Cathedral Disaster5 Ernergen￿ Conritlee The Aldenham Foundat Maclaren Foundation 23,000 15,000 10,000 18,000 15.000 16,000 25.000 to,000 5.000 5,000 5,000 s￿00 5,000 5,000 5,000 5,000 5.000 10,000 io,ooo 120 12000 10,000 101,000 15,350 194,120 Other grydnts to institutions 20,000 116,3SO 214,120 Page 18 COLONEL W. H. WHITBREAD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Analysis of expendtture by a¢tlvi Grant funding of activities 2023 Support Costs 2023 Total funds 2023 Grants. ConseN*ion projects Grants, Health and welfare of soldiers Grants. Support amatuer spxt Grants, Promotion of educalion Grants. Other Support costs Governance costs 19,500 36,350 7.OlXI 23.OOD 30.$00 19,500 36,350 7,000 23,000 30,500 9,823 24,006 9,823 24.006 116.350 33,829 150,179 Grant unding ol Total funLIs 2022 2022 2022 Grants, Conse￿all￿ projects Grants. He￿th and welfare of 50klier5 Grants. Support amatuer 5FMIrt Grants. Pf(Knotion of edLKatits) Grants, Other Support costs 23,000 23.000 59,000 l l.¢KIO 32,120 89,000 6,839 7,791 11,0(Kl 32,120 89,000 6,839 7,791 214.120 t4,630 228,750 Page 19 COLONEL W. H. WHITBREAD CHARrrABLE TRUST NOTES TO THE FINANCIAL STATEmEP￿s FOR THE YEAR ENDED 31 DECEMBER 2023 Anatysls of expendlture by actlvitles {contlnued> Analysls of support Costs Support Governance costs costs 2023 2023 Total funds 2023 Staff costs Depreuation Bank charges Secretarial disbursements Accountancy and aLKlit fees Sundry expenses Insurance Administration fees 8.750 197 194 8,750 17,500 197 13,954 13.954 250 250 348 1.302 1,302 9.823 24.006 33,829 Support Govemance costs 2022 Total funds 2022 2022 Staff costs Depieciation Bank charges Secretarial disbufsements Audit and Independent examiner5 fees Sundry expenses Insurance Administration fees Trustee expenses 10,000 473 248 149 (T67) 250 473 248 149 (767) 250 469 469 3.558 250 250 6,839 7.791 14,630 Page 20 COLONEL W. H. WHITBREAD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Auditorfs rnrnunerntion 2023 2022 Fees payable to the ChariVs auditor forthe audit of Ihe Charitys annual accounts 9,600 Feos payable to the Chantys auditor in respect ot The preparation of the ChariW5 accounts The ndependent exa￿Xnats.on of the Ch￿S annual accounts 4000 2,682 Staff costs 2022 Wages aThY salaries 17,500 to.000 17,500 10.000 The average number ol persons em￿oyed by the Charity durirKd th& year was a5 follows: 2023 No. 2022 Secretary No employee received remuneration armuntin9 to n￿re than £60.000 in either year. Trustee5' remuneration and expenses thtring the year, no Trustees receNed any remuneralion or other benefits (2022- £NIL). During the year ended 31 De¢ern￿ 2023. no Twstee expenses have b8en incurred (2022- £250). Page 21 COLONEL W. H. WHITBREAD CHARwfABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 10. Tangible fixed assets Plant and machinery Cost OT Valua￿on At 1 January 2023 Disposals 6.450 15.031) Al 31 December 2023 1N19 Depreclatlon At 1 January 2023 Charge for the year On disp05a15 6,253 197 15,0311 At 31 December 2023 1,419 Net book value Al 31 December 2023 At 31 December2022 197 11. Fixed asset investrnents Social Listed Investment investhients Loan Total Cost or valuallon At 1 January 2023 Addits'ons Disposal$ Revaluatior 12,645,469 19,741.127 (19NOO,419) 960,198 25,000 12,670,469 19,741,127 119,400,419) 960,198 At 31 OeLwiber2023 13,946,375 25,000 I3￿71.375 The loan is to SL Marfs Bourne Shop & Cafe Ltd. a ￿￿lUnIty benefit society. It Is expected lo be repaid ilhin three year* Page 22 COLONEL W. H. WHITBREAD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 12. DebtOf5 2023 2022 Due aftor more than one year Accrued income 34,107 23,518 34,107 23,518 Due wlthin one year Ptepayments and acc￿￿ ino)me 2,000 36,107 23.518 13. Creditor5: Amounts falllng du• wlthln one year 2023 2022 ACC￿alS arKI defefred Inc￿ 38,125 26,220 14. Financial instruments 2023 2022 Flnanclal assels Financial assets rneasu￿d at fair value through Inc0Th￿ and expenditure 13,971,375 12,670,469 Finanaal assets measured at fair vdue thrO￿h income aThY expenditure comprise of h'sted investments and social inVest￿nt loan. Page 23 COLONEL W. H. WHrrBREAD CHARrrA8LE TRUST NOTES TO THE FINANCIAL STATEMEPIts FOR THE YEAR ENDED 310ECEMBER 2023 15. Statement of tsnds Statem•nt of funds - current year Balance at 31 GaJn81 Decembgr ILosses) 2023 Balance at 1 January 2023 Income Expenditure Unrestricted funds General FuThJs- all funds 791740 268.650 1243,920) 1340,708) 476,762 Endowment ￿ndS ErKlowment Funds- aH fvrKIs 11645069 1,300,906 13,946,375 Total of furMIs 13.438209 268,650 (243,920) 960,198 14,423,137 Page 24 COLONEL W. H. WHITBREAD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 15. Statonwnt of funds (contlnued) Statsment of funds- prior year Balance al 31 Decembei 2022 Balan￿ at 1 January 2022 Gain osses) Unr¥strlcted funds l General fund5 364,846 206.175 (297,790) 519.5Q9 792.740 Endowment fvnds EThYowment Funds 14.592,413 (1,946,944) 12,645.469 Totsl of funds 14,957,259 2(kS,175 (297,790) fl.427.435) 13,438,209 16. Analysis of net assets belween funds Analysls of net assets between fvnds- ¢unentyear Unrestricted End0￿￿ent funds funds 2023 2023 Total funds 2023 Fixed asset investments Debtors due after more than one year Current aBsets Credttors due within one year 25,LhJO 13,946,375 13,971,375 34,107 34,107 455.780 455,780 {38.125) 138,125) Total 476,762 13,946,375 14A23,137 Page 25 COLONEL W. H. WHrrBREAD CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 16. Anatysls of net 388ets between fvnds Icontlnued) Analysis of net assets between funts- prlor year UnTrstsicled Endowment funds lunds 2022 2022 Total funds 2022 Tangtile fixed assets Fixed asset investments Debtors due after more than or* year Current assets Crediiors due within one year 197 197 25.000 12,645,469 12,670,469 23.518 23.518 770,245 770.245 (26.220) (26.220) Total 792, 740 12.645,469 13.438,209 17. ￿lat•d party Iransactlons The Charity has not ent￿ed into ￿Y related paty tran5athn during the year. nor are there any outstsnding balances owing beN¥een ￿lated partTres and the Charity at 31 December 2023. Flrst time adoptlon of FRS 102 It the first year that the tharity has we5ented ils fi￿nCIal sktefrents under SORP 2019 and FRS 102. The followng disdosures a￿ required in the year of transition. The last financial statements prepared on s receipts and payments basis for the year ended 31 December 2022 and the date of transition lo FRS 102 and SORP 2015 wa5 therefore 1 January 2022. As a consequence of adopting FRS 102 and SORP 2019, a number of aco)unb"ng policies have charyed io curyjly with those skndards. Comparabve fuure5 have been reslated to refiect the adjustments made, except to the extenl that the Tntstee5 have taken advantsge of eXempl￿S to retrosFecbve applicatr>n of FRS 102 pem)itted by FRS 102 Chapter 35'Transiti'on lo this FRS,. The PDlicies applied under this tharitl5 prevtous acc(￿nting framewth are not materially different to FRS 102 and have not impa¢led on hjnds or net ￿￿orr￿leXpeThjitu[e. Page 26